Li-related News/Articles/Reports, page-8254

It's not a "pessimistic guess", it's in line with the company guidance, and I've applied a small buffer (1 year) to the end of it to account for delays. How on earth can you assume anything less, when you've just been preaching that delays are par for the course, and are to be expected?

AGY have guided a 4 year development timeline for Rincon Stage 3, explicitly mentioning that it will take 3-6 months to implement funding post "Decision to mine" approval (re: securing strategic funding). Therefore, the clock hasn't even started ticking on this timeline yet, so we shouldn't expect a start until at least the end of the year. From there, 4 years takes us to the end of 2028/start of 2029, if you believe that everything will go to plan.

But you've been letting everyone know that they'd be a fool to go off guidance alone, and of course they should do their own research and work out for themselves how long they think it will take. Noting the 2 years (and counting) delay for Stage 2, I reckon a 1-year delay for Stage 3 is a pretty small contingency figure. That takes steady state to 2029 or 2030, as I've already mentioned.

If JZ's guidance is to be believed, the absolute best case is ramp-up complete in mid-2028, and that's only if a deal were to be signed in the next few weeks. IMO, there's a very, very slim chance of that happening.

P.S. - Yes, Orocobre did have more cash behind them, because they went out and struck favourable deals, like good companies do. AGY/Puna chose to go it alone, because of course they had the "best" strategy. They chose this path; you don't get to deflect and say that others had more money, when AGY had the chance to make deals too, but didn't.

P.P.S - "Breaking ground" is an expression for commencing construction, and you know this. AGY started in February 2017, and ORE started in November 2012. Facts are facts.