Honestly, this just doesn't make sense. No long term plan, at lesst any good one, begins with destroying most of your investment's value within a few months.
I know you and others here are trying to justify it by convincing yourself that years down the track AGY will be significantly higher than 14c (unrealistic anyway, let's not kid ourselves), but even if it was true, it would be insane to make the investment right before AGY went into C&M.
If you honestly think ATL was fully informed beyond what we were and AGY didn't at all mislead ATL, and ATL still bought in at 14c, knowing the project was imminently being mothballed indefinitely, I won't try to talk you out of believing it, and you'll probably only realise how much ATL was played years down the track from now.
I'm not sure you have the details correct about a guaranteed 3.75% of total production going to ATL regardless of how large AGY expands... the way you worded it is certainly completely incorrect. I mean, sure, even though AGY will probably never get to be a producer in a meaningful sense, that potential payoff would be huge, but they're not just going to be given that percentage of AGY's total output indefinitely in exhange for their investment. If that had been the deal it would have been obvious AGY knew it was going to fail. A deal that good means something is wrong, but it wasn't the deal.
Do you honestly think ATL is still happy they took that deal? With the benefit of hindsight, do you think they would take the deal again?
AGY Price at posting:
4.3¢ Sentiment: Sell Disclosure: Not Held
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