To be honest, I have been on a chill since I bought my first AGY shares at .25 and kept on building my stake as the SP went to as low as below .05
Even when I could have made a profit when the SP top to .205 I still held unlike some who bailed out after chilling through the downtrend.
Was I a not so smart investor for chilling out?
Anyway, last year, 15 days before the AGM positive market sensitive news came out about the 5 tonne trial cargo and the shipment was confirmed 5 days before the AGM. This was to Mitsubishi and considered part of the non binding HOA for 2000t in tandem with the Rincon project.
In January, AGY had the 20t shipment to Korea that started the upward run of the SP to .205 max.
In the quarterly report for December, AGY management indicated, in reference to the high quality shipment, :
Based on such product quality results, Argosy is confident of opening up a wide range of market options for future larger off-take arrangements into various markets, including Korea, Japan, Europe and North America.
Hence, I was hoping there would be some actual positive news along this line and show progress to bolster the confidence shown by management 4 months ago.
The first shipment to Japan of 5t was a year ago. How are we progressing in getting off-take agreements in Korea, Europe and North America? When there is no news, to a smart investor who have no feelings when it comes to investing, it means nothing has been done or no progress has been made.
But I am sure JZ has been working hard on getting these agreements. A little bit more publicity or image building perhaps may be needed. on my part, I voted yes on all AGM matters. I am too small a fry to say No.
2021 Charts, page-1444
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