Though I am thrilled with the massive devaluation of the Brazilian Real - makes the economics of Tres Estradas look absolutely amazing; unlike Australia, Brazil and Covid and are just starting and everything I read scares me..this is going to get a lot worse before it gets better. Brazil is about to enter a massive, long recession and the local farmers will not have the capital to buy the direct application phosphate. Copper inventories are building and copper dropping because no one is growing via global infrastructure..we are entering a period of contraction. The equity raise for AGR brought in only $730k and my sources tell me only Kemosabee money came to the table. I have to think that the well is drying up fast. Money in the bank till September only, with the entire team laid off except Fernando. Thiago B. the second brightest star in the Company has resigned....he now works for Justin Reid and Paul Pint at Troilus which has grown from an idea to +$100MM gold Company, 100% institutionally owned, $20MM in the bank and +6MM oz of gold in Quebec...hmmm.... I am fearful that Fernando is getting frustrated with the Board that is showing over and over again how absolutely inept they are. I am biased because I support the old team.. But really what the hell are they doing. I will remain a holder of this name as long as Fernando is there. If he leaves then its lights out...nothing left and not a positive brain wave in the group. Aguia better make sure he stays happy as he owns the sub in Brazil that owns the asset (well documented) to circumvent the border zone laws with Uraguay. This is a bit of vent. I apologize. This name is now sitting orphaned and is caught in a current with no rutter. ....come on Fernando lets give this a reboot.
AGR Price at posting:
7.9¢ Sentiment: Hold Disclosure: Held
