Don’t know about others but the clear IMPLICATION of that Agy...

Don’t know about others but the clear IMPLICATION of that Agy statement is that they r trying for an offtake arrangement whereby they get forward funding for the 10Kt stage included.

For this to happen they will need to fully prove the 2Kt production imho.

Then there is Rio in the same salar.

There r many outcomes here. But imho the most likely would be a JV IF they were to get together in any way, shape, or form.

But then would a company the size of Rio be prepared to let a minnow like AGY into such an arrangement? Only if they got desperate imho.

The biggy here is just how unique is Pablo’s process?

Given that AGY is one of a very few to be able to produce BATTERY GRADE as an end product, I’d say it’s very unique. Then would PB/AGY be prepared to let Rio know the processing secrets? Everyone has their price I guess. But one would think it would need to be pretty damned high.

In the end, at this stage, there r too many variables to think there is something on the go here, unless AGY come out and clearly state such a process is in the works.

Let Rio stew and come on bended knee if they really need the AGY/Pablo process. The product margins at $60-70k/t r just simply too mouthwatering, even for someone like Rio imho.

Gr