General Comments & Banter, page-92

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MarketingMan

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22/02/18

14:21

Post #: 31259365
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Originally posted by BytheHorns ↑

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.

Expand

Good point about management/directors/family (I note that Jerco's brother is also a big holder) high level of share holding.

AGY Price at posting: 30.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 7.6¢		Change -0.004(5.00%)		Mkt cap ! $110.6M

Open	High	Low	Value	Volume
8.0¢	8.1¢	7.4¢	$309.0K	4.016M

Buyers (Bids)

No.	Vol.	Price($)
1	710	7.5¢

Sellers (Offers)

Price($)	Vol.	No.
7.6¢	205386	6

View Market Depth

No.	Vol.	Price($)
7	202282	0.074
3	293698	0.073
2	100000	0.072
6	158054	0.071
12	535312	0.070

Price($)	Vol.	No.
0.076	212663	5
0.077	555502	5
0.078	414566	3
0.079	137370	4
0.080	565500	5

Last trade - 14.19pm 25/06/2024 (20 minute delay)

AGY (ASX) Chart

General Comments & Banter, page-92

Sun Silver submits US$60M Silver Paste Funding Application to US DoE

End of FY is a time to juggle wins, losses and capital gains taxes

Eurozone-based companies find new ways to secure a regional lithium supply

With financials holding the fort, materials must step up with some heavy lifting to stimulate stocks

Time for retail therapy buying in the shopping Scentre for hot stocks

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General Comments & Banter, page-92

Top Stories

Sun Silver submits US$60M Silver Paste Funding Application to US DoE

End of FY is a time to juggle wins, losses and capital gains taxes

Eurozone-based companies find new ways to secure a regional lithium supply

With financials holding the fort, materials must step up with some heavy lifting to stimulate stocks

Time for retail therapy buying in the shopping Scentre for hot stocks

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