Ann: Rincon Lithium Project Update, page-63

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Kaeho

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24/07/24

10:25

Post #: 74888399
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Originally posted by pierre23: ↑

Oh well, plant shut down as suspected.

Don't let the BS excuse of lithium prices fool you, they can't get the 2ktpa running and so they've decided to suspend operations. I would say there's also nobody interested in an offtake/financing, once again don't let the bs get in the way of the truth. Remember, offtake was arranged on receipt of 10ktpa engineering reports. When this was announced lithium price was still in the shitter, so the whole lithium price argument doesn't hold up - and the market sees this.

This should drift back to 3c or lower I'd say - but rethinking completely in topping up even at these levels, no point really throwing more money into a company who will likely have to sell up or go through major restructuring - as the team they have currently simply are not capable and will run it into the ground.

Note not even a mention of where they got to with 2ktpa production quantities before shut down.

The kicker - they're "developing" the 10ktpa based on infrastructure that doesn't work or scale. I've known high schoolers with more common sense.

See you boys for an update in 3-5 years.

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All that talk about 10k is just another sugar coated carrot dangling trick. No one in the right mind will fall for that again lol.

AGY Price at posting: 5.7¢ Sentiment: None Disclosure: Held
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