Highest weekly volume in the companies history, and it was done on a huge sell off for the obvious reasons. From a technical standpoint (arguably backed up by fundamentals) this should trade lower once again in the coming months. IMO not before the traders trade it up to 7-10c. Big volume, massive profits to be had for short term trading, but LT investors should set their expectations that lower prices may still ensue.
Unfortunately, no value left in the company apart from the small stockpile of lithium they have left over. Sub ~40m value in infrastructure (likely worth much, much less, as only half would be useful to a purchaser, and the other half would have no use). No added theoretical value yet looking forward, as 10ktpa cannot be constructed for various reasons (funding being the main factor). Lithium price unfortunately doesn't have much of a bearing for AGY, as they are unable to complete 2k ramp up successfully.
I was looking for their gameplan in the latest announcement, but as suspected they don't even have one. Sit and wait for lithium price to recover in 3-5 years, won't bode well for the company. Working on 10k engineering reports may hype the market slightly, but definitely won't provide any sustained shareholder value. Also no specific details on how they're actually going to be preserving capital - all so vague.
Some people want to compare to the big boys - when they announce C&M, they go into detail into exactly how they're going to cut expenditure, what they expect to save over (x) period, and their long term plan moving forward. Nothing like this from AGY.
The short term traders may indirectly provide a decent exit opportunity ('decent' being in the scheme of things). IMO can't see value here for at least another 5-10 years, and that's if they survive VA before then (which I suspect they may, but to the detriment of incredible dilution with a barrage of raises).
IMO ONLY,
GLTA
