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
13.5¢ |
Change
0.005(3.85%) |
Mkt cap ! $189.5M |
Open | High | Low | Value | Volume |
13.5¢ | 14.5¢ | 13.5¢ | $638.7K | 4.619M |
Buyers (Bids)
No. | Vol. | Price($) |
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13 | 789126 | 13.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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14.0¢ | 424240 | 6 |
View Market Depth
No. | Vol. | Price($) |
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10 | 674111 | 0.135 |
14 | 854470 | 0.130 |
29 | 1334275 | 0.125 |
40 | 1144038 | 0.120 |
12 | 1267000 | 0.115 |
Price($) | Vol. | No. |
---|---|---|
0.140 | 403999 | 5 |
0.145 | 1557384 | 8 |
0.150 | 550646 | 15 |
0.155 | 476900 | 7 |
0.160 | 2220131 | 14 |
Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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Last
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Change
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Open | High | Low | Volume | ||
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Last updated 15.59pm 24/05/2024 ? |
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