EV/Lithium, page-883

..another lithium project bites the dust. AGY stock plunged -30%!

ARGOSYS (AGY)

2,000tpa Lithium Carbonate Operations

Noting the Company’s strategy to prioritise continued development of the Rincon Lithium Project, acknowledging current lithium market conditions and near-term lithium price forecasts, and fiscal prudence to maintain capital preservation practices, the Company has decided to suspend operations at the 2,000tpa facility and effect the necessary workforce restructuring to adjust to next phase Project requirements. The Company will maintain and preserve the 2,000tpa facility during this period. With current interest from third-party battery industry participant groups for future LCE product off-take, the Company will retain optionality to resume operations if a sustained increase in lithium prices and appropriate operational conditions – thus maintaining its strategic advantage of having a lithium operations facility