The discussion was had yesterday, and even had the chance to devolve into the regular mud slinging matches etc, and of course the cheerleaders running victory laps while the market reacted negatively (and down another pip today).
What are you wanting the bears to say today?
Yep, one good thing is that they cut expenditure by more than expected, meaning they have about enough money to last until the end of 2025 (assuming they sit on their hands and no nothing but shuffle papers around and play cards on the office desks), explaining why they didn't announce a CR before the quarterly. If I get something wrong I'll admit it, and yep, last year I did say I expected the CR announcement before this quarterly, you can chalk this up as something you can actually say I got wrong. But presumably the market reacted negatively anyway because it still shows that a CR will probably be announced this quarter, if not next. They'd be crazy to let it get any closer so it's all but inconceivable they could delay beyond the July quarterly.
Your post seems to indicate you think this report shows AGY is in a good position and people holding immediately prior to it should be happy. Reality doesn't seem to have hit you.
They either continue burning cash until the CR announcement within the next six months, or, as I expect, they'll present it as raising funds for the DFS and for 'working capital'.
Given the strategy was supposedly to just build it and show that it works so they didn't need a DFS, but then showed it didn't work when they actually built it, it's questionable how inspired the market will be in the shadow of a pilot plant and demonstration facility, both of which were built with the intention of being viable, revenue-generating plants.
...you already built two plants to show the method. Now you're doing the theory to see how well they'll work? Cool.
I will say though, the picture is slightly better than I expected. But, making that picture clearer to the market has had a negative impact, showing the picture is worse than the market thought. I actually expected the market to react positively.
Your 'where are the bears, why are they so quiet'? post would make more sense if there had been news good enough for the price not to have gone down.
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