Ann: Notice of Annual General Meeting/Proxy Form, page-5

I just checked your claim and it appears you are incorrect mate. AGY haven't included an additional 10% placement facility for the last couple of years. The last time AGY included a resolution for the additional 10% placement facility was in 2021, and there was a specific reason for it. They needed the additional 10% to cover the options included in the February 2021 cap raise (see below).

As @Kaeho pointed out, it seems abundantly clear that AGY is preparing for a significant cap raise in the near future. Upping the limit to 25% implies a cap raise of between 210-350m shares. At a discount of around 20% from today's closing price (the last one was at an 18.7% discount), that would yield $21-$36m. That's probably enough cash to keep trying with the 2 ktpa plant for another 12 months or so, and that's about it.

Not a great sign......