I'm not sure if that's a deliberate attempt to fool people or if you're actually making a genuine mistake, but either way, when the company blatantly lies to shareholders, it's a big red flag.
The 2,000TPA plant was for many years, from proposal right up until recently, some time after it was abandoned (and in calling it a 'demonstration facility' they now clearly indicate there is no plan to ever restart it) touted as the company-making commercial plant. It literally had a pilot plant before it, so a 'demonstration facility' to show what they claim the pilot plant had already done would be 100% redundant, and we all know it's an outright lie to call the 2,000TPA plant a 'demonstration facility' - this isn't subjective, it's an objective reality we can all clearly see if we look at the company's own claims, and if we use any common sense it's even more concerning.
I doubt you actually do think I'm suggesting making investment decisions based on emotions. It's not really an emotional stance to say that you shouldn't invest in something based on the words of someone who is clearly lying to you and has demonstrated a track record of failure and contempt. It's just common sense.
Emotional decisions would be a failure to accept the reality of a situation because you can not admit to yourself that you made a decision which went badly. Which is quite absurd because it's fine to say you took a risk which went badly, and you're only stupid if you continue holding when you already have enough information to know it's bad to hold.
How do you expect funding to be obtained based on two rounds of failure, without it harming shareholder value? This is not an emotional issue, it's an issue shareholders should rationally ask themselves. If they somehow raise that money now, can anyone honestly say it's not going to tank the share price? If they don't raise it now/soon, and it happens in 6-12 months, can anyone honestly expect the price to go up in that time while the company does nothing but burn cash?
I see someone accused me of acting like Chicken Little. Well, I'll remind everyone that the last time I was accused of that was when I was saying I was sure something imminent and catastrophic was coming, and I was saying it for a week or two before the C&M announcement came and destroyed most of what was left of the value of your AGY shares.
Enjoy the quarterly reports next week!
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