AGY 6.98% 4.0¢ argosy minerals limited

Some interesting ruminations.Here's my understanding from...

  1. 2,315 Posts.
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    Some interesting ruminations.

    Here's my understanding from correspondence and experience.

    The process section that makes the LCE worked fine.
    The other circuits, input filter, heaters etc didn't.
    Some of those were modified to work to some degree but need more investment to get them to spec.
    Continuous operations happened albeit at a low rate due to being restricted by the process peripheral circuits.

    The reason the ex process circuit had so much trouble is the engineers used had no Lithium equipment experience or in particular dealing with the brine solution. They had experience in similar processes only.

    So it came down to continuous operations working at a low level with investment required to improve it in the low Li cycle.

    A prudent decisions was made to C&M and focus on 10kt since they know what they need to do


    I cant confirm but I suspect the engineering mob may of been PA's mate. To say there is no engineers with Lithium (or moreover brine handling) experience is incorrect. They definitely could of flown experts in, but didn't. There are plenty of firms advertising expertise.

    So price painted them into a corner but two decisions got them there in my view.

    1- Not raising at 70c plus
    2- Not getting appropriate engineering experience and/or support on call as needed.

    It looks like 2 has been acknowledge and cant do much about 1 now.

    I'd also like to see the nepotism addressed but not holding my breath. You cant tell me the best person for AGY chief engineer role is a relative from the petroleum industry that beat out all other candidates. Probably wasn't even advertised.

    Our chief engineer should have spod / brine refining expertise.


    imo
    dyor









 
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