The long-term price should have been a factor in the decision-making process
I'm not the director, also not entrusted to make those calls. It's his responsibility to strike, and yes, hindsight tells us he failed.
Had JZ dilluted at 40c or 60c with MC of $840,000,000, the 191 employees could still have jobs, and we the funds to call in experts
did JZ have the foresight of lower prices when we traded at 80c? Sure, he did, as long-term pricing was at $15k and not $60k or more
was a director transferring money overseas to Argentina required to have foresight i.e. us of the funds, capex, through put, out put, in put, costs analysis, breakeven analysis, budgeting? Sure, he was, did he? He was asleep at the wheel
you now praise him for being forced due to mismanagement of funds to pull the pin on a defective plant due to defective designs, which should have been reviewed and / or properly designed from the outset, (is it foresight or hindsight)
company should have sought more capital at 60c not 14c, plenty of companies with foresight go to market before drill results and there's a market out there for the investment
they're calling your name in aisle 33, back to work
AGY Price at posting:
4.2¢ Sentiment: None Disclosure: Held
