Yes. A business that is expending capital inherently carries greater risk when it is yet to secure a customer in order to generate revenue. Is it significant? Of course it is. If a deal had been struck years ago, the last CR may not have been required, and shareholders could have avoided further dilution. Who knows, if a deal was done sooner, they may have been able to skip the 2 ktpa operation and gone straight to 10 ktpa like originally planned. We'll never know.
But are you seriously trying to imply that strategic investment and pre-production offtakes aren't routine business when de-risking a resource company? And if not, why have AGY been trying to get it done for the last five years if it didn't even matter?
It's been "coming together" for years mate. The company's run out of synonyms for imminent, so they've stopped using them altogether.
AGY Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
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