@airconditioner I figured I would reply to your post about AGY here so as not to provoke some ridiculous AGY v GXY brine war.
Having read your post it seems you are not fully up to scratch on what AGY is doing and how they are doing it. If Im wrong on anything feel free to correct me.
AGY's tenements are not part of the old ADY project. ADY sold their project to Sentient/Energi, who's technical team then failed to produce battery grade from rincon. Due also to the cost of lime to extract the Mg the process was canned and Energi spent millions working on there new DXP plant, which if you believe the rumours has also failed, at least at this stage. So the previous attempt at Rincon failed due to a lack of technical capabilities and using the traditional method to deal with the magnesium (lime) making it uneconomical to continue.
"Joe worked for FMC and knows your dude and the area well."
Correct and he (JL) even tried to poach him (PA) from AGY for Gangfeng. PA politely refused.
"I have never understood how its possible to bypass building a very expensive carbonate plant - but then perhaps I just don't understand that there is a completely new way of doing it that doesn't need anything like that any more...? It just appears in the ponds somehow...?"
AGY will be using a process closer to SQM's in Chile. Not blackbox or revolutionary. All salars have magnesium but Rincon has a high level. Definitely not a positive but Pablo Alurrade believes he has a way to deal with the magnesium. His pay-day relies on it and he has produced battery grade LCE from AGY previously (50t if you believe the rumours).
AGY's project is over 3 stages
Stage 1 - 500tpa battery grade LCE, fully funded, ponds filled in April '17, process plant (micro brewery?) in Campo Quijano expected to be finished within the next 6 weeks. First 100-150t expected in March '18.
Stage 2 - 1500tpa battery grade LCE, fully funded, 30% of the required ponds expected to be filled in the next couple of weeks, remaining ponds waiting for permits to start construction, process plant (Pilot plant?) to be built in Olacapato, a small industrial town about 25k from Rincon. Schedule of works/timetable has not been released yet by management but it ie expected soon.
Stage 3 - Full commercial production (10,000tpa has been mentioned by two broker reports). No more info has been released by management on stage 3. Process plant to be situated on AGY's Mina Romula tenement which according to a recent company announcement...
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No mystery or magic tricks, but a highly experienced chemical engineer who is alligned with shareholders.
"The Chinese already did due diligence and passed did they not?"
They did not pass. AGY refused an extension while they waited for the government to greenlight the funds which has left shareholders in a far better position than had they waited for the Chinese.
"Even ML seems to have moved on."
Airguide where hired to introduce AGY to an off-take partner to provide funds for stage 2. Altough it did not take the route they expected, they now have stage 2 funding. As far as I am aware they are now just shareholders and management would have told them to relax with the over promotion. Last week they (AGY) publicly invited JLowry to Rincon in March for a photo opportunity with PA and 150t of battery grade LCE. Lowry said he may take them up on their offer after flying over Rincon and seeing the development.
"In this particular case, Dr Mehta, who runs the SDV operation is also a joint patent holder with PA, so it is interesting, and perhaps informative, that GXY is still focused on a "traditional" brine operation with 250 hectares of ponds, a "traditional" carbonate (with scoping study under way for hydroxide) plant and the "traditional" 12-18month dehydration process."
Again, AGY are also going the traditional route.
For a more detailed and informed explanation on AGY's plans (both the positives and negatives) the initial post on this thread is very good.
Cheers.
(enjoy your posts BTW)
(20min delay)
