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AGY

2.63%

3.7¢ argosy minerals limited

Ann: US$5M Strategic Investment by ATL, page-137

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24/05/24

13:45

Post #: 73994583
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Originally posted by pierre23 ↑

That's your takeaway of the narrative mate. No one has said the share price "would crash" that I've seen.

Yes, AGY raised at a small premium, as did SGQ with the same 'strategic partner' ATL taking a 10% stake in their company, which did nothing for the share price to now.

This is a cap raise announcement and nothing more, until such time they can release to the market that they're in a binding offtake agreement with them.

You're quick to forget that AGY have been in this position numerous times since 2017 with Chinese companies in "conducting product qualification processes for arranging an offtake agreement". To which all pulled the pin.

Granted, they are in a better position now with a functioning plant. But that's about it... they're a long way off yet to prove scale, and no scale = no binding offtake agreement, IMO.

My thoughts on todays announcement have already been posted.

Still maintain it's a good little capital injection to continue the plant operations, paying bills and paying the staff for another 2-3 months. It just delays the inevitable and anyone saying they weren't expecting something much, much bigger than a measly US$5m investment is lying to themselves.

https://hotcopper.com.au/posts/73991502/single

The waiting game continues.

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“No one has said the share price "would crash" that I've seen.”

Yawn.
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AGY Price at posting: 14.5¢ Sentiment: Buy Disclosure: Held
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