They could of persisted like every other developer and got it done if economic conditions were better.
No other new developer has secured funds for the same reason.
The only thing we know for sure (and from emailing the Company) is that they had problems, knew the solution but it was not economical to continue in the current low price cycle. That makes sense as good management to me. Probably not for those who bought at the wrong end.
Look at LTR for example, they are absolutely shredding shareholder capital trying to start up and run in. Shareholders should be outraged at the waste. It should be in C&M the only ones interested in pushing on are those looking for short term capital profits.
This failed at first try rubbish just shows the lack of research by some investors.
This announcement is simply a required update given new data from the purchase of new tenements.
As they should.
Business as usual.
AGY Price at posting:
3.0¢ Sentiment: Buy Disclosure: Not Held
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