Where to from here though? Looks like it wants to get back to the original IPO price of $0.20
I'd really only be concerned if this gets all the way down to $0.16 because at that point that's pretty much half the CR SP of $0.32, and my initial entry at 0.31 ... Very large fall. It's been a terrible week for me with AGC.
BUT we may expect tangible events occuring with DD happening mid this month (i.e. next week), and for that to be finished off no later than mid Sept. In the recent past, the lead up to the commencement of new drilling activity at AGC have spurred buying and thereby an increase in SP.
So perhaps it might be a good opportunity for newcomers to enter into a position with AGC, or to top up before the imminent results that should provide a much clearer picture of the prior discovery.
Absolute worst case scenario would be $0.08-0.09 per share with a market cap of almost $20m. But that is considering the current cash balance of $20m right now, and I can't see it dipping that far when the existing drill holes have shown something very substantial to work with.
My opinion, no need to panic unless you are short term.
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