The quarterly report is coming up soon mate, less than three weeks away. I doubt there'll be much news before then, aside from a possible small spot market sale designed to divert attention from the report itself. Given AGY's stagnant share price, especially when compared to others that have seen some recent gains (even LKE's market cap is now 35% higher than AGY's), the outlook isn't great. JZ hasn't shared any details about staff cuts or their strategy for conserving capital, which is a bit of a worry. Between AGY and Puna Mining, there was only about A$12 million remaining at the end of June. If the funds in this quarterly dip below A$8 million, it could be particularly concerning, especially with the current share price where it is.
IMO, if the cash reserves fall below that threshold, a cap raise before the year’s end seems almost inevitable, which could push the share price down to the low 3's, potentially hitting a new multi-year low. The cash burn in this quarterly report will be crucial to watch.
AGY Price at posting:
4.0¢ Sentiment: None Disclosure: Not Held
