Come on mate, have you really not seen pre-production offtake contracts before? I just gave you a list of companies that have done exactly that, when in your words "they had nothing to sell". This is basic stuff. Offtake partners and strategic investors de-risk a project by ensuring that both development capital and customers are in place before production. Sure it can be done without it, but it incurs significantly more risk, for obvious reasons. The market doesn't like the increased risk, so the share price has been annihilated. What's so difficult to understand about that?
AGY Price at posting:
31.5¢ Sentiment: Buy Disclosure: Held
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