Pretty funny stuff, interesting timing, releasing this after close at the end of the week, and on a Friday the 13th too.
The 24,000TPA expansion plan had me burst out laughing (since it triggers people when I mention it, I'm reading the announcement in a gate lounge at Melbourne Airport after visiting Australia for a couple of weeks, looking forward to having dinner in Asia tonight). They really are desperate for carrots to dangle! Their list was amazing:
Progress the 10,000tpa project pre-development engineering works to achieve a construction-ready stage and to
significantly de-risk the Project.
✓ Upgrade the JORC Mineral Resource Estimate, based on new strategic tenement acquisitions at the Project.
✓ Commence regulatory process for EIA approval to expand Rincon Project lithium production operations up to
24,000tpa.
✓ Consider new strategic project opportunities and acquisitions.
How long can they drag out using that first carrot? It's absurd. Pretending they are still working on that just means they're incompetent for not completing it long ago, which no doubt they have, but it shows how desperate they are for ways to create the illusion of progress.
Second is meaningless.
Third, the 24,000TPA application... haha! Were they cringing in the boardroom at that being the best they could come up with, or were they laughing at putting something so absurd into the list? Probably the latter.
And the generic 'consider new opportunities and acquisitions' - yeah, is anyone fooled? Actually, probably.
It's quite amazing how clearly dead a company can be without some people understanding it, and it's very interesting to see how they see it - thanks to those willito share their thoughts on the matter!
...and I was sad to see the "bagy" ignore list being taken down. Bragging about ignoring the people who warned him he'd get burned, after he got burned, was just brilliant and I was proud to be on the list. Quite a glorious self burn, and so funny to do it on every post!
The best time to wake up was before now, but if you haven't yet, the best time you still have available is now.
Sentiment: ***SELL!!!***
AGY Price at posting:
4.1¢ Sentiment: Sell Disclosure: Not Held
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