Market perception among retail investors to maintain a healthy SP range.
"When assessing a company (to provide finance, partnering), the sp is irrelevant at best or misleading at worst."
You are joking right? Gangfeng just did this with LLL, offering a price of $0.81 per share based on a 6.5% premium to Leo Lithium’s 5-day VWAP. Or we can use Sayona as an example, who's recent placement was done at a price linked (albeit at a discount) to the current share price.
If the SP is low relative to assessed value, the offer is more likely to be accepted. If the SP is high relative to assessed value, it's less likely to be accepted. Therefore the current SP (and/or VWAP) will most certainly contribute to the offer price in the event of a placement (if that occurs, not saying it's going to here if JZ can actually achieve nil-dilution).
I agree that AGY is looking good though, just bloody delayed.
AGY Price at posting:
45.8¢ Sentiment: Buy Disclosure: Held
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(20min delay)