"Some people carrying on as though the company has gone into VA just beggars belief."
Come on buddy, pull your head in. Anyone referring to the possibility of VA, isn't alluding to it happening in the next 12 months. They have money to continue paying themselves for a while yet, plus no doubt at all that the cap raises they'll do will be fully subscribed to to continue paying themselves.
They have no viable project at this point in time, the reason has become clear now why they haven't updated the feasibility studies that they said would be done so long ago - they knew their CAPEX and OPEX were sky high, and without a premium lithium price, the project is a dud.
So for the next few years, the 2k plant (that cannot produce more than 20t per month) just sits there, we get 10k engineering reports (that were outsourced) that they cannot do anything with (and based on infrastructure that cannot scale).
Risk is now crazy in this stock. No ones saying the reward isn't there - especially with the short term trading frenzy we'll be seeing. But long term, it's a fact that risk completely outweighs reward. But if you're a gambler, this won't worry you, because you'll convince yourself otherwise.
AGY Price at posting:
4.8¢ Sentiment: Hold Disclosure: Held
