@RotaneThanks for the correction. But you're talking nonsense....

@Rotane

Thanks for the correction. But you're talking nonsense. I'll make this very simple for you. I want to build a house. The builder quotes $800k plus a $200k contingency for a fixed price contract of $1m. He gets close to the end of the build, and tells you the materials and labour cost more than he expected. If you don't give him another $200k, the build stops. So you stump up the cash, but you're obviously not happy about. It was supposed to cost $1m tops, but you spent $1.2m, despite your builder telling you it was "fully-funded" when you placed your deposit. Are you getting any more for your money? No. Is it worth any more? No. It's simply additional expense, for no tangible gain. It's not "accretive".

While we're at it, the additional placement facility still means that if AGY raised at today's share price, they can't possibly raise any more than A$43.75m (or US$28.8m) without shareholder approval, and that's only if they can raise at today's price. With an average discount applied, the SP probably needs to get to 15 cents for AGY to raise at today's price.

US$28.8m is not going to fund a 10 ktpa expansion. In fact, it will probably fund about 10% of CAPEX at best. You know what it will fund though? About 18-24 months more of f*cking around with the 2 ktpa plant. Watch carefully......