Yes, yes, we've all heard many times now how continuing to pursue the failed plant was suicide for the company. No one is denying that. If it doesn't work, it doesn't work, continuing to try would burn the funds to zero and all holders with it.
So, they've abandoned efforts to continue trying....
This is just a slower path to death. They've given up because they can't make it work. They're still burning cash, just at a slower rate. Progress wasn't happening anyway, but any hope for progress is now gone because they're not even trying. How is the new strategy of not trying anything other than a slower path to death? They can't even pretend to dangle a carrot of imminent progress any more.
And, the ridiculous lie of the 2,000TPA being nothing but a pilot plant is revisionist. The company said the 500TPA plant was going to be used to generate income! Now there's a claim that the 2,000TPA plant wasn't really there to generate income? Was its purpose to fail at about the same point the pilot plant, er, other pilot plant did? Is that why they hired 190 staff?
The mantra around here was 'the lithium prices are going to bounce imminently/have already bounced', now it's 'prices aren't going up any time soon so it's a waste of money to try to be successful'.
Holy cow! The lies and gaslighting have nothing resembling plausibility any more.
AGY Price at posting:
3.8¢ Sentiment: Sell Disclosure: Not Held
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