MM love your work and enthusiasm but above post is a bit off the mark:
Market Cap = Shares On Issue x Share Price
or
SP = Mcap / SOI
Market Cap essentially reflects what the market values a company at...
A higher Market Cap is what we are all hoping/wishing for as this will be reflected in a higher SP.
Shares on Issue can be a bit of a catch 22....
More shares on issue means more liquidity / bigger turnover of shares which usually attracts traders
On the flip side:
Less shares on issue usually means a tighter register so when interest in a company grows the more appreciation there will be in the SP
The good thing with AGY is that 50-60% of Shares on Issue sits with Mgt/extended family/friends & other long-term holders.
The topic of 'free-float' is probably for another time.
Anyway to give other a bit of a comparison here is the current shares on issue across various ASX Li plays... (does not include unlisted options etc)
AGY - 913m
AVZ - 1,798m
AJM - 1891m
GXY - 413m (consolidated 1:5 in May 2017)
KDR - 350m
LPD -2,880m
LPI - 210m
NMT - 543m
ORE - 254m
PLS - 1,615m
TAW - 504m
AGY are about middle of the road with regards to SOI but remember on development of Stage 3 they will have 90% ownership of Puna Mining Co JV / Rincon project.
ORE have a 66.5% share of the Olaroz project with Toyota (25%) and the local Jujuy Gov't entity JEMSE (8.5%).
LPI have 50% ownership of their Micarunga project but they and their local partner (who have the other 50%) will have to give up a further % of profits to Chilean Gov't (all but guaranteed - see GC's recent post re: talks falling over). IMO - the small number of shares on issue / lack of liquidity is why they probably haven't attracted the interest of traders and seen the same SP growth other Lithium plays have over the last 12mths.
For AGY - some further dilution to step up to Stage 3 is expected as the Capex requirement will be approximately $120-$160M depending on targeted nameplate.
IMO, Mgt will look to secure the majority of Stage 3 funding via a strategic partnership / off take agreement with the remainder via debt funding which will have a relatively short payback period given expected revenue.
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Last
8.4¢ |
Change
0.004(5.00%) |
Mkt cap ! $122.2M |
Open | High | Low | Value | Volume |
8.2¢ | 9.0¢ | 8.2¢ | $272.9K | 3.164M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 146998 | 8.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
8.4¢ | 79520 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 146998 | 0.082 |
4 | 316055 | 0.081 |
4 | 114425 | 0.080 |
2 | 125000 | 0.079 |
4 | 417778 | 0.078 |
Price($) | Vol. | No. |
---|---|---|
0.084 | 79520 | 2 |
0.086 | 123596 | 1 |
0.087 | 103194 | 2 |
0.088 | 60000 | 1 |
0.089 | 11032 | 1 |
Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
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