MM love your work and enthusiasm but above post is a bit off the mark:
Market Cap = Shares On Issue x Share Price
or
SP = Mcap / SOI
Market Cap essentially reflects what the market values a company at...
A higher Market Cap is what we are all hoping/wishing for as this will be reflected in a higher SP.
Shares on Issue can be a bit of a catch 22....
More shares on issue means more liquidity / bigger turnover of shares which usually attracts traders
On the flip side:
Less shares on issue usually means a tighter register so when interest in a company grows the more appreciation there will be in the SP
The good thing with AGY is that 50-60% of Shares on Issue sits with Mgt/extended family/friends & other long-term holders.
The topic of 'free-float' is probably for another time.
Anyway to give other a bit of a comparison here is the current shares on issue across various ASX Li plays... (does not include unlisted options etc)
AGY - 913m
AVZ - 1,798m
AJM - 1891m
GXY - 413m (consolidated 1:5 in May 2017)
KDR - 350m
LPD -2,880m
LPI - 210m
NMT - 543m
ORE - 254m
PLS - 1,615m
TAW - 504m
AGY are about middle of the road with regards to SOI but remember on development of Stage 3 they will have 90% ownership of Puna Mining Co JV / Rincon project.
ORE have a 66.5% share of the Olaroz project with Toyota (25%) and the local Jujuy Gov't entity JEMSE (8.5%).
LPI have 50% ownership of their Micarunga project but they and their local partner (who have the other 50%) will have to give up a further % of profits to Chilean Gov't (all but guaranteed - see GC's recent post re: talks falling over). IMO - the small number of shares on issue / lack of liquidity is why they probably haven't attracted the interest of traders and seen the same SP growth other Lithium plays have over the last 12mths.
For AGY - some further dilution to step up to Stage 3 is expected as the Capex requirement will be approximately $120-$160M depending on targeted nameplate.
IMO, Mgt will look to secure the majority of Stage 3 funding via a strategic partnership / off take agreement with the remainder via debt funding which will have a relatively short payback period given expected revenue.
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Last
5.2¢ |
Change
0.003(6.12%) |
Mkt cap ! $69.88M |
Open | High | Low | Value | Volume |
5.0¢ | 5.2¢ | 4.6¢ | $212.0K | 4.221M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 35494 | 5.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.3¢ | 388357 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 35494 | 0.052 |
2 | 22468 | 0.051 |
7 | 354472 | 0.050 |
2 | 495599 | 0.049 |
2 | 70000 | 0.048 |
Price($) | Vol. | No. |
---|---|---|
0.053 | 388357 | 3 |
0.054 | 268000 | 3 |
0.055 | 244331 | 4 |
0.059 | 309796 | 2 |
0.067 | 100000 | 1 |
Last trade - 11.59am 28/08/2024 (20 minute delay) ? |
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