General Discussion AGY, page-20607

I wouldn't think so unless very high prices emerge once again, which I think is unlikely in the short to medium term. I was just pointing out that it would have been better to operate the Stage 1 plant rather than nothing at all over the last couple of years. But to persist with it even after they've ramped up the larger 2 ktpa operation would probably be unnecessary. It would likely be a distraction, and would lack the economies of scale of the larger operation. Then you've got the ongoing issues of staffing, equipment replacements, etc.

In my opinion, the focus should remain on the 10 ktpa expansion (though there's not much we can do about this at the moment as it's in the hands of the Salta Government). The 2 ktpa plant is a stop-gap pilot plant, and it only exists because AGY couldn't secure strategic funding to go straight to 10 ktpa at the time. The silver-lining is that the 2 ktpa plant is now there to fulfil some of the goals that the original Stage 1 pilot plant was supposed to meet, such as ironing out issues to achieve consistent and efficient production. Better to be getting it right at this smaller scale than trying to sort it out at a much larger scale, with the associated risks that go with that (debt, offtake commitments, etc).