That's not quite correct mate. I said I hoped to be surprised and hit a personal target of $1.70 by mid-2025, at which point I would sell. I added that I expected "around $2 by mid-2028.
It's very clear that it's not going to happen at this point, JZ has missed the boat for a competitive pre-paid offtake and it seems that massive dilution is required to fund the 10 ktpa CAPEX (probably around A$460m). That 10 ktpa CAPEX budget is equivalent to more than 4b (yes billion) additional shares, at which point all P/E ratios can be tossed out the window.
Now I don't actually expect 100% CAPEX funding through a cap raise, it seems pretty obvious that any funding solution will probably be a combination of pre-paid offtake, cap raise and debt. The problem is the timing. Any pre-paid offtake at this point is not going to be favourable to AGY, and it's not going to be a 100% solution. How many developers have received a pre-paid offtake that's worth 4 times their market cap?
Honestly, I think anyone who doesn't expect some significant dilution moving forward has got rocks in their head. And with that unknown hanging over the company, any previous estimates are worthless.
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Last
4.0¢ |
Change
0.002(5.26%) |
Mkt cap ! $58.23M |
Open | High | Low | Value | Volume |
3.9¢ | 4.0¢ | 3.8¢ | $203.5K | 5.180M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 676315 | 3.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.0¢ | 1312029 | 9 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 676315 | 0.039 |
3 | 112110 | 0.038 |
12 | 1041553 | 0.037 |
24 | 2519053 | 0.036 |
28 | 2709206 | 0.035 |
Price($) | Vol. | No. |
---|---|---|
0.040 | 1312029 | 9 |
0.041 | 853002 | 6 |
0.042 | 2324272 | 7 |
0.043 | 1762500 | 3 |
0.044 | 286335 | 5 |
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