Could be, but those forces apply to all companies on the ASX casino, not just AGY mate. This is where JZ's failure to secure a deal sooner hurts shareholders. Back in late 2022/early 2023, it would have been extremely difficult for a potential strategic investor to hold the SP down. Now, it's a piece of piss because sentiment is in the toilet. There's not much AGY can do to battle any strategic manipulation, other than get the 2 ktpa plant sorted out and ramp production. Unfortunately that looks to be a long way off yet, and it's not a good sign that JZ is now omitting production volume from the quarterlies.
Side note - I thought there were a couple of interesting comments from CG in the article you posted:
“The approval de-risks Rincon, in our view, and shores up the development timeline,” noted Cannacord. “We believe given the long- term nature of the project, debt will become available to the company.”
and
“AGY will need to build production momentum if it is to prove its process and attract a partner for the 10ktpa expansion, in our view.”
A couple of pertinent points there from CG. They've noted that they expect that debt will become available, rather than a pre-paid offtake, and they also noted that AGY will need to build momentum (re: actually increase production) to attract a partner. Seems logical to me.
AGY Price at posting:
13.0¢ Sentiment: None Disclosure: Not Held
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