11 quarters of funding is for AGY to maintain operations in the Perth office. It doesn’t include payments to the JV in Argentina, Puna Mining.
During Q3 2024, ~$4.8m was spent. At the end of the last quarter, they had ~$7.4m left between AGY and the JV. If they keep spending at that same rate, there’s less than 2 quarters of funding left, and no company lets the funds run dry prior to another raise.
Spending for Q4 is anyone’s guess at this point, but with payments for rent payments for tenements (Tonopah), ongoing salaries for ~50 staff, and payments to Lycopodium, Saxum and the investment bank, I’d personally be surprised if the spend less than $3m in Q4.
AGY Price at posting:
2.9¢ Sentiment: None Disclosure: Not Held
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