AGY was a magnificent speculation but it seems to have gotten itself trapped in the corrupt politics of Burundi. My sense was that this task may have been beyond the capabilities and resources of this very tiny company (it always pays to call and research one's speculations) . How this is resolved is anyone's guess. My guess is that a legal challenge will take time and money. I got out when i heard that AGY had hired the same lawyer who handled the Norlisk arbitration (why hire hime if you are in the midst of successful government negotiations and a follow up JV with a major?). Luckily AGY topped up its coffers at 95 cents and may have enough resources to stay in the battle a little longer.
I do not think that this saga is played out yet but it is fraught with risk. I am completely out, got really spooked after several calls to AGY went no-where very quickly.
AGY Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
