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
13.5¢ |
Change
0.010(8.00%) |
Mkt cap ! $182.5M |
Open | High | Low | Value | Volume |
13.0¢ | 13.5¢ | 12.8¢ | $93.00K | 715.5K |
Buyers (Bids)
No. | Vol. | Price($) |
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12 | 92657 | 13.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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13.5¢ | 854189 | 30 |
View Market Depth
No. | Vol. | Price($) |
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12 | 94564 | 0.130 |
34 | 1609708 | 0.125 |
48 | 1592417 | 0.120 |
16 | 1350004 | 0.115 |
12 | 698043 | 0.110 |
Price($) | Vol. | No. |
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0.135 | 853908 | 29 |
0.140 | 569878 | 14 |
0.145 | 1128883 | 11 |
0.150 | 851120 | 17 |
0.155 | 258933 | 4 |
Last trade - 14.53pm 21/05/2024 (20 minute delay) ? |
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Last
13.5¢ |
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Change
0.010 ( 5.88 %) |
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Open | High | Low | Volume | ||
13.0¢ | 13.5¢ | 12.8¢ | 445295 | ||
Last updated 15.09pm 21/05/2024 ? |
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