Agree, I mentioned this quite a while back after C&M and seeing what they were doing in the meantime. IMO this option would have crossed the table behind closed doors. Engineering reports, upgrades of resource, permits/approvals in place, DFS being worked on - all creating value to squeeze a bit more from the sale. With no promising path to financing to progress Rincon, the smartest move would be to sell to enable the shareholders get out with (smaller) losses, or some gains if you're game enough to buy in at these prices.
$100-150m is optimistic, I would hazard a guess lower, as you mention the project may need to switch to DLE processing for lower OPEX with new owners (which I would imagine wouldn't be cheap to do). Also buyers could use AGY being in their current position as leverage for a cheaper buyout.
I don't think we'll see any of these decisions for a while yet though. DFS/engineering reports likely not until 2026. Also I do find it hard that Pablo would let his cash cow go without a fight.
GLTA
AGY Price at posting:
2.9¢ Sentiment: Sell Disclosure: Held
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