This is some incredible delusion, gaslighting and desperation. Extreme and obvious.
As Pierre says, how are those models holding up? We've seen clear demonstration they were wrong.
You say the 2KTPA plant was a stepping stone to the 10KTPA plant and there to 'derisk' it. Well, it is a very clear demonstration that the risk is much, much higher than previously realised. Demonstrated failure is a very, very obvious bad thing. It absolutely does not derisk! AGY is pretty much at 'failure guaranteed', not a decreased level of risk.
The mantra here is 'it works but doesn't scale' - so... why would scaling it to an even larger plant solve the problem?
Yeah, the 2KTPA plant isn't viable at the current lithium price (never mind financially viable, it doesn't even work at all). This is a very weak excuse considering the price is still currently higher than it was when they raised the funds to build it!
...and yes, a feasibility study definitely *is* very helpful in obtaining funding! You know, because... people putting up the money want some assurance that their investment is going somewhere decent... two failed attempts indicate inability, they don't derisk.
How do you expect AGY to raise hundreds of millions of dollars in funding, about 5x their entire current market cap (which is obviously going to fall as funds are chewed up and no progress is even attempted let alone made), to build a plant based on a design which has been shown twice already doesn't work? Even with a positive feasibility study, heck, even with a working pilot plant this would be very difficult, but with two demonstrations of failure, no feasibility study, and management being willing to take $5M from ATL right before abandoning operations and firing all those staff... who is going to want to give them hundreds of millions of dollars? Even if they did, imagine how diluted current shareholders would be!
This is clearly game over. AGY is very obviously in garbage time. Garbage time is still perfectly profitable for management, but... shareholders?
Do you actually believe the nonsense you're posting or are you just trying to ramp while you offload? Obviously I don't expect a serious answer to that question, but I can't help but wonder. I assume you probably do believe it because the obvious time to dump was absolutely immediately ASAP after the update. I struggle to fathom how other than desperation and denial anyone could not see how dead in the water AGY is.
Obviously, if the plant worked or the design wasn't fundamentally flawed, it would not make any sense to build a 10,000TPA plant. You'd get the current one working first. The only way it could make any sense to build a 10,000TPA plant would be to admit the design was flawed and they'd found a way to make it work, but even then, it would make much more sense to build a smaller one first to prove the concept.
AGY Price at posting:
3.9¢ Sentiment: Sell Disclosure: Not Held
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