Your general principal is correct (I haven't checked the math).
High market cap (i.e. more shares on issue) was listed in my analysis as a weakness for this very reason
(https://hotcopper.com.au/threads/fundamentals.3508506/page-824?post_id=31140766#.Wo4ZS-eYO70)
But, other things affect share price...
1. Lithium grade (i.e. price sell product at)
2. Volume of product sold (expansion)
3. OPEX
Ultimately, share price is determined by (earnings per share) X (uncertain market sentiment factor) but, that's a long way off - we are still working on pure market sentiment.
I think the point is, ORE is a good example of a nearby "producing" Lithium company.
We've missed the boat on ORE, but AGY still has multiple bags left in it.
IMO
DYOR
General Comments & Banter, page-87
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Last
8.6¢ |
Change
-0.002(2.27%) |
Mkt cap ! $125.2M | |||
| Open | High | Low | Value | Volume |
| 8.9¢ | 8.9¢ | 8.6¢ | $197.3K | 2.273M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 366693 | 8.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 8.8¢ | 274292 | 2 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| AGY (ASX) Chart |