I don't recall seeing any posts where anyone insists that AGY/Puna needs to retain 190 staff members; I'm not sure where you're getting that from. However, this does highlight a significant issue: nepotism could potentially harm the company's efforts to restructure for C&M. Is Pablo really going to fire his kids, extended family, and friends just because they aren't necessary any more? I doubt it.
It seems likely that the care and maintenance at Rincon will end up with more "essential" staff than actually needed, just so the friends and fam keep getting paid. Unfortunately, I doubt that JZ or James Shay will have much power to push back on this, as it could jeopardise the joint venture (JV). After all, technically, Pablo is fulfilling his part of the JV, while AGY isn't. They were supposed to secure expansion funding, which hasn't happened. It will be interesting to see how this plays out in Salta.
AGY Price at posting:
4.4¢ Sentiment: None Disclosure: Not Held
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