Great to see this news this morning, although the 10,000TPA expansion and the results of this drilling will be more important.
To those saying yesterday is evidence of a leaky ship, some of us here myself included were predicting it earlier in the week and expecting to see it happen on Tuesday or yesterday, which is exactly what happened. We were largely basing that on the technicals and overall fundamental value, and then we had help from the offshore leads and the lithium sector was also up. When we did get the rally yesterday it was exactly what we'd already predicted, right on cue.
The timing of today's announcement looks like good timing rather than indicative of a leaky ship. AGY would have notified the ASX as soon as they had the permit. I very much doubt the Argentinian government gave them the permit and then AGY sat on it for a day while the market was open and insiders were buying before then telling the ASX the following day.
Great timing is all, if you smell a rat here I think it's your imagination.
My short term target is a conservative 45c. Medium term (Q3 CY2022) 90c. Long term somewhere up in the dollars.
AGY Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held
