AGY

2.27%

8.6¢ argosy minerals limited

General Comments & Banter, page-92

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MarketingMan

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22/02/18

14:21

Post #: 31259365
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Originally posted by BytheHorns ↑

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.

Expand

Good point about management/directors/family (I note that Jerco's brother is also a big holder) high level of share holding.

AGY Price at posting: 30.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
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

View Market Depth

No.	Vol.	Price($)
4	366693	0.086
14	901035	0.085
1	11916	0.084
4	199677	0.083
1	11500	0.082

Price($)	Vol.	No.
0.088	274292	2
0.089	227131	4
0.090	968990	6
0.091	100000	1
0.092	21869	1

Last trade - 16.10pm 21/06/2024 (20 minute delay)

AGY (ASX) Chart

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