Ps. Let this be a lesson to those who were absolutely adamant that any capital raise would crash the price, as it would have to be at a significant discount.
Now we have another $7.5M in the kitty, our so-called “desperation” is reduced significantly.
So… we have somewhere around $15M on hand now..?
Great, this provides a nice buffer to see us through to increased output from the 2ktpa plant, to a point far closer to its capacity, at which point product sales will bring more $$ in.
Great.
The pessimistic narrative by several here lately was that the money was fast “burning”, we would soon be very desperate, and raising more money would be a disaster and crash the price.
How’d that turn out for them…?
Although there may indeed be a more significant equity issue at some stage in conjunction with the strategic partnership for the expansion, at least the pressure is reduced for a while now, and - considering the circumstances and recognising that of course the dilution and need for funds isn’t ideal - imo this is an intermediate outcome that is not bad at all.
It’s painful to raise capital while the sp is bouncing around the bottom, so a “minimal” “extension” like this is good imo and great that it is part of a broader offtake discussion/negotiation.
H2 looking a little brighter already.
imo
Dyor
AGY Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
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