Jerko stated last year he would cease monthly updates and only...

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TheLongGame06

63 Posts.

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24/01/24

00:37

Post #: 72032505
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Originally posted by pierre23: ↑

Couldn't tell you mate. It's all price action at the moment. AGY is in a bit of a predicament imo. Those with strong fundamentals will be able to weather this sector wide hammering and will come out strong. However AGY is in a very bad situation of having to progress funding/offtake deals in a very bad lithium climate (again).

Add onto that the unmitigated risk still involved in that 10ktpa is still no where closer to being granted (as far as we can see), and a 2ktpa plant yet to be back to production. Progress updates have always been within the first 2 weeks of the month, so I'm assuming no such luck progressing the "filtration issues". Last time they skipped progress update it was because they didn't have good news -- the month they didn't update the market was a month of no production (when at the time they were producing and the market expected additional product).

So, first they blamed COVID... then they couldn't pen in a deal at record high lithium prices (or come to a 'fair deal' apparently)... and now they're stuck with lithium prices plummeting, needing additional funding to keep the lights on by mid-year, no progress on the expansion approvals, and a 2ktpa plant that doesn't work properly.

Obviously it will stop and turn eventually, but IMO the fundamentals aren't anywhere strong enough to stop it from possibly falling lower (lower highlighted range in the chart I posted).

Management really need to pull their heads in and start working smarter. They need to be saving every penny (even if that means pausing expansion works on the ground) for the impending cap raise. Minimise the dilution for us existing shareholders. Spend only where they need to - IE get that damn 2ktpa plant up and running. And they need to address their shareholders what they're doing about it. The inconsistencies with the monthly progress updates is piss poor.

Granted, I will fall off my chair if they end up getting a partner for financing before they need to raise capital.

TLDR: No target market cap, just price action, current fundamentals exacerbates the falling share price.

IMO DYOR!

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Jerko stated last year he would cease monthly updates and only announce news when there is something to report.

He decided this after shareholder complaints about putting out monthlys with little to no news.

I speak with him from time to time and has assured me each time that the company is focussed.

I too am feeling the pain like others here but rather than bag the crap out of the Co I emailed them......which all SH are entitled to do.

its entertaining to see how emotional people get on here.

Everyone has an option. Buy, sell, hold, short or contact directly the people who you feel have not performed for investment.

AGY Price at posting: 9.1¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 8.9¢		Change 0.002(2.30%)		Mkt cap ! $129.5M

Open	High	Low	Value	Volume
8.7¢	9.2¢	8.7¢	$231.4K	2.592M

Buyers (Bids)

No.	Vol.	Price($)
2	22447	8.8¢

Sellers (Offers)

Price($)	Vol.	No.
9.0¢	236386	2

View Market Depth

No.	Vol.	Price($)
2	22447	0.088
4	938231	0.087
8	195113	0.086
11	100727	0.085
6	294933	0.083

Price($)	Vol.	No.
0.090	236386	2
0.092	46700	2
0.093	80712	2
0.094	50403	2
0.095	101130	2

Last trade - 16.10pm 18/06/2024 (20 minute delay)

AGY (ASX) Chart

Jerko stated last year he would cease monthly updates and only...

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Jerko stated last year he would cease monthly updates and only...

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