General Comments & Banter, page-5429

Nice summary.

As has been posted previously, AGY are focused on developing a best of breed process.
Resource size is ultimately irrelevant, because buyers (battery makers and/or auto makers etc.) will (if they have to) resort to innovative deals to get their hands on battery grade product. The owner of a proven process for converting Rincon brine into battery grade will be in the box seat. To lock up supply the buyers might try...

1. Throwing money at AGY (pre-paid off-take deal or loans on favorable terms) so AGY can ramp-up production and expand their resource (at a faster pace).

2. Buy AGY out.

3. Enter in to talks between a number of holders on the Rincon salar and encourage them to do joint ventures.

4. Some combination of the above.

When AGY proves-up their process they will be a critical component of any such deal and will be in the box seat to negotiate.

Process is everything.

And remember, the big advantage of Battery grade Lithium from Brine is the potential for battery makers to feed it straight into their manufacturing and by-pass mid stream purification by a third party.


IMO