https://grafa.com/news/mining-argosy-minerals-moves-rincon-lithium-project-toward-2025-construction-290831/ampThis article was published in October and basically is the same story in the last AGY update.
So where are we today?
- we stopped operating the 2k plant due to lithium prices below profitable operating levels
- reportedly able to have continuous operations, albeit at low tonnage due to equipment problems, a learning process where solutions and design improvements will be incorporated in 12k plant construction design
- shift of focus after assessment of the situation with the focus on conserving capital
- behind the scenes work related to getting funding and partner assessments details of which cannot actually be divulge hence is subject of speculation on HC depending on which side you are in the debate
- no movement in top 20 and directors with shares selling or buying
- situation appears to be the same with other similar lithium plays
In the meanwhile, AGY has the 12k permit, the increase in resources, the ponds, the knowledge gleaned from the 2k experience which is now being considered in the 12k design leading towards doing a DFS and prepare for the time lithium prices take a different direction, the reported interests from possible funding partners which no one on HC would be aware of(either you believe or not).
i guess we are in control of our investments. We cannot blame others for missing out when things were good, selling for a profit then coming back in thinking it had bottomed out, buying more when good news like permit approval came in, taking money out and placing it in losing investments, you name it right or wrong, it was our decision. Even would-be brilliant minds on HC are still spending time day in day out trying to convince everyone how good they are, yet have nothing to show in wealth, one wonders!
For me, I have no option other than wait. Yes, sitting at a loss like most but think about it, if AGY goes down the gurgler, it probably is the end of EVolution and the end of the world. AIMO
PS: someone said once, “everytime there is a stockmarket crisis, I came out better by doing nothing”.
(20min delay)