"I don't care if the numbers are "rubbery"." - i.e. there is a...

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FrankRockefield

1,399 Posts.

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13/08/21

18:36

Post #: 55277197
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Originally posted by GCar: ↑

I don't care if the numbers are "rubbery".
We know they are estimates. We know they need to be refined and updated.
We also know we are open at depth.

The point is that you WRONGLY proclaimed that there was only 245kt LCE in total and that AGY was expecting to extract ALL of it.
Your WRONG claim was that out of an apparent TOTAL resource of 245kt LCE, they would actually be able to only produce about 70kt LCE, because they simply can't extract "all" of the resource.

YOUR error.
You ignored or couldn't comprehend that the 245kt was based on an estimated DRAINABLE brine volume, which is only a fraction of the estimated IN-SITU brine volume, and that factoring in recovery and pumping tests and flow models, the company estimated about 165kt of product over 10 years.

YOU missed that CRITICAL detail and still can't admit it. ...and you continue to run with that FUD story, which is blatantly false and misleading.

The bottom line is that our Li brine expert with years of processing and commercial production experience estimated 10ktpa of BG product for 16.5 years. I think he knows exactly what he is talking about, and certainly does not need to be reminded about "mining recovery and process efficiency rates".

The resource details and production estimates might change a bit as drilling and analysis and models are updated and refined; so what? We all expect them to.

Simply saying that the numbers "are meaningless" is absolute garbage and you know it.

Expand

"I don't care if the numbers are "rubbery"." - i.e. there is a ton of risk in AGY, because it does not even have measured status. Simply trusting mr. Pablo for castle in the sky figures creates that risk.

I Encourage anyone with a investment in resources to read over this paper. Specifically Inferred Resource, Indicated Resource and Measured Resource and why that is important when approaching a bank for finance.

http://www.crirsco.com/news_items/revised_standard_definitions2011_v2.pdf

AGY Price at posting: 15.5¢ Sentiment: None Disclosure: Not Held
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