Oh I agree with you mate, each step forward represents progress in the right direction. However, when we place this news within its broader context, it loses some of its excitement. No-one on these threads thought that further public consultation was necessary; everyone assumed that matter had been settled long ago. Therefore, it seems somewhat illogical to celebrate overcoming a hurdle that was presumed to have been cleared ages ago. Meanwhile, by close of business today, AGY, through setting their own targets, were expected to have accomplished the following:
1. An increase in production operations/ramp-up, yet they only managed to produce 3 tonnes in 4 weeks.
2. Obtaining the 10 ktpa EIA approval, but instead, they indicated they had engaged in more public consultation and remain exactly where everyone presumed they were.
3. Increased production rate forecast, which remains conspicuously absent.
4. An extension of the project mine life, yet there's no update on this front either.
Adding these four unmet objectives to the already delayed upgraded feasibility study, which is now three months overdue, brings the tally to five missed targets.
AGY Price at posting:
13.8¢ Sentiment: None Disclosure: Not Held
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