If someone knew nothing about the company and just saw that article now, they could be forgiven for taking it seriously, but to anyone who bothers to do their due diligence, or anyone who has any familiarity with the company, which includes pretty much everyone who posts here, there is no excuse to miss the blatant lies and this article is full of warning sirens and red flags!
To say that the 2,000TPA plant was only a pilot plant, and also to say it was not designed for industrial production, is just an outright lie. Some here cry when I say the company has lied, but you can't deny it in this case - they spent literally years discussing at great length how their pilot plant, the previous one, did its job (despite the fact that one also objectively failed to do what they said it was designed to do) and the 2,000TPA was a commercial, industrial scale plant. To now say it was 'the pilot plant' and not designed for industrial production means they were lying in at least one respect, and completely blatantly.
To change history in order to allow you to blame circumstances rather than your own errors is something any astute investor should see as a huge red flag.
The way he brushes off any responsibility or failings of the company in having any relationship with firing over 100 staff is just disgusting. There is no mention anywhere of the reality that the issue was that the plant designed for commercial, industrial production, didn't actually work, and they just try to convince the reader that the plant was fine and other than external factors everything related to the company was fine.
In reality, all of us who were following the company know that the lithium price could have been double what it was and the plant still wouldn't have worked. They called in the external consultants, they tried everything they could think of, the plant wasn't working. What would have happened if they had been able to continue trying? You can speculate all you like, but the plant never worked, we all know it, and that was the big problem. They already had permits to expand, but who would fund a big expansion based on a "pilot plant" which failed to perform any better than the actual pilot plant they shut down and pretended had worked even though it clearly didn't?
AGY are playing the market for fools, and it's up to each individual to decide if they want to stick around and be treated like that. This article should be viewed as an expose of AGY!
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Not the least surprising.
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