AGY

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3.8¢ argosy minerals limited

Not so sure ‘many here were desperate to believe’… more a case...

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noid222

965 Posts.

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25/07/24

13:04

Post #: 74913228
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Originally posted by Sdaji ↑

It makes perfect sense.

Approval came from the government. No doubt AGY was telling them they were optimistic about the future etc. No surprises there.

'Successfully producing 1T per day' didn't happen. That's an exaggeration of their own smoke and mirrors claim. They never produced anything like 30T in a month, and even if they had, it wouldn't have been close to economically viable. They never came anywhere near developing a commercially viable method of producing lithium carbonate. That was clear earlier this year, I had my suspicions two years ago, as of the last update it was clearly possible to see it and as of yesterday no doubt should remain.

Despite what many here were desperate to believe, ATL was not immune to being fooled. I think we can all agree on that now.

They managed to make a 20T sale to an unknown buyer... so what? This isn't a big deal or a lot of money. Quite probably, that buyer believed until yesterday that a steady supply was coming soon. It does seem a little on in context of the ATL deal if they're then selling 20T to a buyer and it wasn't ATL, but that's not especially relevant now from a shareholder's perspective other than curiosity.

Management has clearly spent years doing everything they can to keep up appearances and hype things up, both to shareholders and to partners and product buyers, and no doubt to governments etc too. There is no longer and ambiguity, the man behind the curtain is revealed.

As I said yesterday, that 40% drop was just the beginning. I have no doubt this company will go into administration or be sold off as a shell company or have some sort of fundamental restructure. The market still hasn't fully processed it. No idea why you'd be paying 3-5c for this corpse, it may find some support at 2.6c but even that probably won't last long.

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Not so sure ‘many here were desperate to believe’… more a case of taking company announcements at face value (obviously realising the company is putting a positive spin on the content). It’s unfortunate that a company can paint a semi positive outlook with no hint of stopping operations to then simply do just that and completely decimate shareholders investments.

AGY Price at posting: 3.7¢ Sentiment: Hold Disclosure: Held
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Last 3.8¢		Change 0.000(0.00%)		Mkt cap ! $55.32M

Open	High	Low	Value	Volume
3.9¢	4.0¢	3.8¢	$131.9K	3.384M

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No.	Vol.	Price($)
4	872154	3.8¢

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Price($)	Vol.	No.
4.0¢	990329	8

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No.	Vol.	Price($)
4	872154	0.038
6	1030581	0.037
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6	1226910	0.034

Price($)	Vol.	No.
0.040	990329	8
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Not so sure ‘many here were desperate to believe’… more a case...

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Not so sure ‘many here were desperate to believe’… more a case...

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