Excellent take, completely agree. I don't think the move down today is anything to do with the announcement, it just looks like a general move down with a few peers. I think it's a fairly neutral announcement and was never going to do much, because the contents were largely already known. When the resource was upgraded in January, a few people (including myself, and GCar if my memory serves me correctly) noted that the resource upgrade equated to an 18-20 year mine life at 25 ktpa. This was easily worked out based on the information from the PEA in 2018, so today's announcements really just confirmed the estimations of a few posters here, give or take 10%.
The only real negative I can see is the OPEX rate increasing >60%, but again, anyone paying attention to inflation and peer OPEX rates should have anticipated OPEX of at least US$6500, and AGY aren't far off that, so it's no great concern.
Essentially this is just another "meh" announcement to keep holders occupied/placated until JZ actually has some good news to share.
AGY Price at posting:
13.0¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)