General Discussion AGY, page-18117

@seadog

If you’re valuing brine operators based on how pretty their ponds are, you’re doing it wrong. LKE have no ponds, yet their market cap is almost the same as AGY.

I’m no advocate for an investment in GLN, but they have a resource 27 x larger, and a grade almost 2.5 x higher than AGY. That is why they have a similar market cap to AGY, despite having swimming pool sized evap ponds. They pursued the strategy of proving up a large resource, while AGY “fast-tracked” to production. They look ripe for a takeover, while AGY has sat on its hands for five years instead of proving up the resource at Rincon.

It seems that AGY’s chosen path hasn’t proven to be any more successful at this point.

I’m not sure if you saw GLN’s release today, but they’ve also just acquired tenements (through JV) in James Bay (adjacent to PMT’s Corvette Project) and Ontario. IMO, AGY would benefit from doing something similar, as Tonopah is close to worthless due to water issues.

Alas, some management teams are shrewder operators than others.