Last time the share price was around 3-4c, the market cap was...

Last time the share price was around 3-4c, the market cap was lower, keep that in mind.

Today's announcement is a sprinkling of glitter on a steaming, disease-ridden turd, but it's enough to fool a lot of people, especially those who are desperate and want to believe there is still value in what earlier this week they thought was worth multiples of the current price. Price anchoring prevents them from seeing that it's currently priced at multiples of the actual value.

The 10,000TPA permit is worth nothing to a company which can't do anything with it.

The 80T of lithium stockpiled isn't worth much, it cost more to produce than it's worth, and to make any more would cost more than it would be worth.

The cash backing is the bulk of what value AGY has. The way in which AGY obtained it should be a massive red flag to everyone; they robbed ATL blind to get most of it, right before they knew they were going to let everyone know the plant was going to be abandoned.

In 2017 the the price was similar but the market cap was lower. In 2017 they said they didn't need a feasibility study because the results would show the project was feasible, serving as a defacto feasibility study. We now see that the defacto feasibility study says the project is not feasible! A startup saying they can do something vs. a demonstrated failure... that's a very big, important difference! In 2017 we didn't know that their method was not economically viable, we do now. For the same price now you're getting a smaller piece of the company, and you now have everything you need to know to see that the company is trash.

Unlike in 2017, the company has a proven lack of feasibility, a higher market cap, a proven track record of smugly ripping off investors and treating them like dirt, two plants which do not work, a plan to build yet another plant based on the same design which does not work, a requirement for a lot of money to build that plant, cash burn which will reduce the cash backing which is the only thing of value the company has other than a small supply of lithium, and a bakery and gym which are younger siblings of a Blockbuster shop.

At this point, you're suffering from Stockholm syndrome if you're listening to AGY management and buying more. You've seen them rob ATL blind, you've seen them dangling carrots in front of you when they knew they were imminently going to serve you a big bowl of disappointment, you've seen them claim things did their job when it turns out they didn't. Why would you trust them now?