Going out on a limb here to explain my thinking behind AGY's...

Going out on a limb here to explain my thinking behind AGY's share price over the last few years.

A lot of us (myself included) have been dumbfounded as to why our SP has always been so low compared to our peers, who have produced teaspoons compared to our multiple tonnes.

I'd say it's mainly to do with the fact that it's "almost...restrticted by the processing capacity/ability", however, this in itself is not entirely insurmountable. It's beyond doubt that it's a bloody huge challenge for any upcoming producer, and we're fortunate to have Pablo steering our canoe. However, our peers are not entirely restricted in converting their massive reserves so my argument is thus - the key variable in their/our valuations is based on the assumption that the challenges of conversion will be overcome, multiplied by the resource size.

Us, on the other hand, we have the conversion process entirely sorted out, we just don't (on paper) have the resource size to back it up, and thereby our valuation is considered lower than others in the market.

Now we all know that we're open at depth, etc. etc. but JZ's plan is to build a long-term &sustainable business, and that is where financial prudence is key. He could have spent the last half decade spending money to expand our resource while achieving little else, but he's opted to use that money to build the business instead while having a 'fixed' resource size that will support building our stage 2/3 business cases. That to me is why I back this company. We have a FUTURE ahead of us instead of a share price based on fluff and assumptions that what's in the ground can be sold at quality and at scale

Disclaimer: Bit of a ramble to start this Thursday off, but it all made sense in my head haha