The main thought I have is that when considering and reviewing the ANN's from pre the Qianyun deal in late 2017, is that at that time, AGY was in a very different point of the journey from where they are now. They were looking for funding to build ponds and plant, and the two ANN's in early 2017 (not 2016) were MOU's for funding - not off-takes. They were letting the market know that AGY was in discussions with prospective strategic investors to fund Stg 2 and/or 3... which MIGHT then have also progressed to OT's from completed stages.
So fast forward and where are we today? The funding was secured from other sources, the Stg 2 ponds have been built and the pilot plant is operational and has proved the process and product quality. And it's been achieved without tying AGY to long term deals with Chinese entities - and has left them free to strike a deal with a Tier 1 Japanese entity (and perhaps a second deal with another entity from Korea or somewhere else)..... and even more importantly, has enabled them to do so without giving away a board seats or processing oversight from a third party, thus protecting the IP.
IMO, this has left AGY in a much better position than being locked into the Chinese market and shenanigans that go with that sector.
The other key factor to acknowledge is that a company must always remain agile whilst maintaining a focus on the long term strategic plan.
So what was the plan in early 2017? ... to secure funding.
Did that happen - yes! It's just that it was different from the initial approach and more "traditional" path of finding a strategic investor before embarking of major capital expenditure.
So personally, I have no problem that the MOU's weren't executed - and I'll even go as far as say, I'm glad that they weren't executed and that funding was secured by alternate means.
With respect to the Argentinian JV.... the only reference I've found relating to a JV was the one first raised in July 2016, in which AGY would enter into a JV with an Argentinian entity.
If it is.... um.... it did happen. The Argentinian entity that was created, and that AGY have a JV with, is called Puna Mining. (AGY have 77.5% interest in Puna Mining with the rights to earn up to 90%). The JV partners are Pablo Alurralde (yes, the guy who processes our lithium) and Francisco Mendendez.
If it's something else - please provide the link as I'd be interested in researching that if it's something I've missed.
AGY Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held
(20min delay)