Tangible assets of $73M?
There's a few dozen tonnes of lithium in the shed which still leaves more than $70...
They literally just picked up a tenement for free because no one else wanted it. Their land is worth nothing.
Abandoned plants which never worked are liabilities, not assets. Maybe they could sell a few bits and pieces at the local flea market, but let's not kid ourselves into thinking there's any value.
I don't think the office furniture, second hand gym equipment and a used oven is worth $70M. Maybe they could sell the leftover scones at the local market but I doubt that would even cover what they'd spend on jam and cream.
Jokes aside you may find a few bits and pieces sort of maybe kinda worth something, but nothing more than a tiny fraction of $73M, and there are more liabilities than assets, and they're not even trying to have a small team continuing to get the plant working. It has been abandoned just like the 500TPA was.
The party is over, you have everything you need to understand that clearly spelled out for you. It's now just a question of how long it takes you to accept it. Yesterday I still thought there was some chance of AGY eventually getting somewhere, I knew the update would be catastrophic, but this is not just a nasty blow, it is good night, we just have to see how long it takes. Once they make the decision to stop trying on the commercial plant, they don't even have the ability to spin the story of 'well, the pilot plant was a success, now we're going to raise funds for the commercial plant'. There's no point building a commercial plant when the one you already built doesn't work.
This is a clear admission of failure, without quite explicitly saying it.
I was saying until yesterday that catastrophe was coming with the next update. I'm now saying, in the same "just in my opinion but I'm sure of it" way, that this is a failed venture and I have no doubt that it's heading for either 100% loss of value or restructure and close to 100% loss of shareholder value. You can insult and attack me again if you wish, just as you did before today.
I told you to email JZ, I told you not to take my word for it and to confirm it for yourself. You attacked. I now tell you to take an honest look at the situation and rationally consider it. You already have all the information you need spelled out for you, no need to seek it, just understand it.
I see multiple people have posted saying they plan to get drunk tonight. I have no doubt there are many shareholders with these plans. What this shows is that currently they have not been able to face processing what they've seen, they can't yet cope with it. As this realisation hits more holders, there will be more selling.
This company is dead, how long it takes you to accept that is in your hands.
Of course, AIMO, etc.
At least you have stopped laughing at me and being abusive. Well done. Sorry it required such an expensive experience to make that progress.
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