This went as I expected today, not sure what the intention of that last line in the announcement was but on face value it screams to me that things are going badly with the MOU partners and not to expect any deal with them to go through.
It may not be the intention but the wording was particularly poor, basically there isn't any way to read it positively and it has a very negative vibe as a warning to expect bad news next.
It feels like when you have to tell the kids the family dog is dead so you first tell them all about doggy heaven to lessen the hit on the real news.
Hopefully it's just a poorly worded attempt to cool speculation on a binding agreement but the unfortunate thing with generally being very good at giving subliminal messages in your announcements is that people will take to heart your word.
Either way, it's good to see that today's negative reaction to the announcement has a double explanation of being the gap fill that the technical analysis was waiting for so lets use that as our explanation!
Hopefully just a blip as the rest of the announcement was very positive and good reading.
AGY Price at posting:
6.3¢ Sentiment: Buy Disclosure: Held
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