in fact AGY was producing Lithium from its Pilot plant before it even had its maiden JORC resource, they knew they had brine so got on the job of establishing whether the process worked first and derisking the whole venture.
The Maiden JORC resource in 2018 eventually established enough brine to operate a 12,000tpa operation for 16 years and as that was years away from happening why spend money on more drilling .
Here we are 4 years later at the cusp of production with a proven process, no debt and well cashed up. A perfect time to drill deeper for more resource which is exactly what they are doing.
Not conventional but a down to earth common sense approach to developing an new venture and luck has them starting production at record prices...sometimes its better to be lucky than good but we seem to have both bases covered...
Cheers Whisky
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