Australian (ASX) Stock Market Forum

AGY - Argosy Minerals

Jump to new
Sdajii said:
AGY continues to flounder around. The permit taking so long is more due to the Argentinian government faffing about, I'm not sure what takes so long with the resource upgrade; they've already done the drilling and all physical work, they just need to do the computer modelling and write up a report, so hopefully that won't take too long, and the big issue is getting the filtration system operating as desired. I'm not sure whether that will take another week or several months (several months is my guess) but it's the big thing we really need.
Click to expand...
South America. Isn't that where the arvo siesta is all so imprtant and then of course the outstretched hands need a brown paper bag handed to it just to get the ball ever so slightly rolling.
 
At this point I'm basically just taking the mickey out of myself by choosing AGY for the December competition and honestly I don't expect anything amazing, but hey, if the permit comes and we get a good resource upgrade in December, you never know.
 
I picked AGY for March, largely to be silly. They've failed to deliver on any of their promises, the company is in the toilet, but hey, if they actually deliver on anything they might rally. Once again they promised to have the expansion permit by the end of the quarter... this is a routine promise they've made pretty much every quarter for about two years.
 
Sdajii said:
I picked AGY for March, largely to be silly. They've failed to deliver on any of their promises, the company is in the toilet, but hey, if they actually deliver on anything they might rally. Once again they promised to have the expansion permit by the end of the quarter... this is a routine promise they've made pretty much every quarter for about two years.
Click to expand...
@Sdajii - you are no silly. Our champ @peter2 has been watching and picked AGY for his annual tip . So patience has paid off
 
It's a bit early to start counting your chips IMHO
1709273750737.jpeg
 
Miner said:
@Sdajii - congratulations. Your persistency has paid off with first run for the top in March.
Click to expand...

Well, I've recovered a small percentage of my huge loss, I'm not sure if that's worthy of congratulations, but thanks!

I sold a parcel today in anticipation of a retrace on Monday. We'll see how that pans out. I suppose if it continues to run I'll 'make'/recover more money, and if it does retrace I can buy back cheaper or be happy I sold some. Hooray for hedging a position... FML! :roflmao:
 
Another Rincon Progress report with little to no progress. There still trying to get to 2000tpa and to date they've produced a massive 67t.
But wait there's more, there still waiting for EIA approval for a 10,000tpa expansion.

With lithium prices so low there's probably no urgency but this lack of progress has to be frustrating the investors.
 
Good evening
Some movement today (29/10/24) associated with quarterly report and Appendix 5B.
11 quarters of funding as at 30 September 2024.


HIGHLIGHTS:
  • Strategic pathway to completing 12,000tpa project development engineering and DFS works to a construction-ready stage and commercialise the Rincon Lithium Project;
  • Mineral Resource Estimate upgrade works in progress following acquisition of additional tenements;
  • Utilising upgraded MRE, hydrogeological & dynamic model is being updated to increase mine-life and brine abstraction scenarios;
  • Spot sales contract executed for 20 metric tonnes of battery quality >99.5% lithium carbonate product achieving price of US$13,400/t – a premium to market prices;
  • ~80t of lithium carbonate product stockpiled for strategic sale International lithium carbonate price outlook remains supportive to realise Argosy’s lithium production development strategy; and
  • Strong financial position with cash reserves of ~$7.3 million (with an additional US$62,000 held in Puna Mining S.A. bank account) at 30 September 2024

1730203047292.png

Not holding

Kind regards
rcw1
 
rcw1 said:
Good evening
Some movement today (29/10/24) associated with quarterly report and Appendix 5B.
11 quarters of funding as at 30 September 2024.


HIGHLIGHTS:
  • Strategic pathway to completing 12,000tpa project development engineering and DFS works to a construction-ready stage and commercialise the Rincon Lithium Project;
  • Mineral Resource Estimate upgrade works in progress following acquisition of additional tenements;
  • Utilising upgraded MRE, hydrogeological & dynamic model is being updated to increase mine-life and brine abstraction scenarios;
  • Spot sales contract executed for 20 metric tonnes of battery quality >99.5% lithium carbonate product achieving price of US$13,400/t – a premium to market prices;
  • ~80t of lithium carbonate product stockpiled for strategic sale International lithium carbonate price outlook remains supportive to realise Argosy’s lithium production development strategy; and
  • Strong financial position with cash reserves of ~$7.3 million (with an additional US$62,000 held in Puna Mining S.A. bank account) at 30 September 2024

View attachment 186850
Not holding

Kind regards
rcw1
Click to expand...

Amazing that such ridiculous smoke and mirrors fools anyone.

Look at those highlights:

1) Meaningless word salad.

2) Irrelevant; the company already has plenty of brine, that is not their severe problem. No one doubts they can pump more brine out of the ground than they need, the problem is that they can't do anything useful with it and when they try it costs them far more than they get back, so boasting about having more than expected means nothing. It's worth noting that they got their last tenement for free because no one else wanted it. So, yeah, they got more brine literally no one else wanted.

3) Again, working on being able to get more brine out of the ground is irrelevant.

4) As lovely as it is that they sold a few tonnes of product, the reality is that it cost them far, far more than the sale price to produce it, so much so that they had to abandon efforts to produce more. If they sold all they have left they would still need a CR next year, and that's for a company burning cash and not doing anything useful at all after suspending all operations at the plant they built, and not having funds to build another one, which would be based on the same design which caused the last two to fail!

5) As above. If they sell all they have, it'll feed cash burn for a little while but they're not producing any more and the whole stockpile isn't worth that much.

6) 'Strong cash position' is an absurd claim from a company which is burning cash, bringing in no income and will need a CR to keep the lights on, likely this quarter and if not almost certainly next quarter!

Anyone with any sense sold out when they shut down the plant, which was effectively an admission that they don't know what they're doing and had to abandon continued attempts to try. Remaining holders still believe the insane nonsense this company puts out (look at their announcements from the last few years in light of what we know now!) so any garbage like today's announcement is likely to inspire some topping up, and there is no one left to sell.

Glad you're not holding! This will no doubt get pumped at some stage in the not too distant future and then there will be a CR.
 
Sdajii said:
Amazing that such ridiculous smoke and mirrors fools anyone.

Look at those highlights:

1) Meaningless word salad.

2) Irrelevant; the company already has plenty of brine, that is not their severe problem. No one doubts they can pump more brine out of the ground than they need, the problem is that they can't do anything useful with it and when they try it costs them far more than they get back, so boasting about having more than expected means nothing. It's worth noting that they got their last tenement for free because no one else wanted it. So, yeah, they got more brine literally no one else wanted.

3) Again, working on being able to get more brine out of the ground is irrelevant.

4) As lovely as it is that they sold a few tonnes of product, the reality is that it cost them far, far more than the sale price to produce it, so much so that they had to abandon efforts to produce more. If they sold all they have left they would still need a CR next year, and that's for a company burning cash and not doing anything useful at all after suspending all operations at the plant they built, and not having funds to build another one, which would be based on the same design which caused the last two to fail!

5) As above. If they sell all they have, it'll feed cash burn for a little while but they're not producing any more and the whole stockpile isn't worth that much.

6) 'Strong cash position' is an absurd claim from a company which is burning cash, bringing in no income and will need a CR to keep the lights on, likely this quarter and if not almost certainly next quarter!

Anyone with any sense sold out when they shut down the plant, which was effectively an admission that they don't know what they're doing and had to abandon continued attempts to try. Remaining holders still believe the insane nonsense this company puts out (look at their announcements from the last few years in light of what we know now!) so any garbage like today's announcement is likely to inspire some topping up, and there is no one left to sell.

Glad you're not holding! This will no doubt get pumped at some stage in the not too distant future and then there will be a CR.
Click to expand...
Good morning Sdajii
I had read this thread... the only way in Australia would rcw1 hook into this one is to fast or swing trade a quick profit. couldn't really care less about anything else, also might add, there are plenty other stocks right at this moment, better placed to fulfil rcw1 needs...

Anyways, I take it you haven't got AGY on your watchlist .... ha ha ha ha

Kind regards
rcw1
 
rcw1 said:
Good morning Sdajii
I had read this thread... the only way in Australia would rcw1 hook into this one is to fast or swing trade a quick profit. couldn't really care less about anything else, also might add, there are plenty other stocks right at this moment, better placed to fulfil rcw1 needs...

Anyways, I take it you haven't got AGY on your watchlist .... ha ha ha ha

Kind regards
rcw1
Click to expand...

It's very much on my watchlist, I traded it very successfully for a while and did have a pretty large holding (a few hundred thousand shares) for some time which for a while was a big multibagger for me but unfortunately I ended up selling for not much more than I paid. It's a story I've followed closely enough for long enough that it's like a TV series I'll be watching until the end, no matter how bad it gets, or, hey, if it miraculously turns around I'll be happy to jump back in.

With a CR looming and nothing big on the horizon it's a stupid time to be holding no matter how you look at it, unless you were waiting for the pre CR pump with your finger nervously hovering over the sell button.
 
Sdajii said:
It's very much on my watchlist, I traded it very successfully for a while and did have a pretty large holding (a few hundred thousand shares) for some time which for a while was a big multibagger for me but unfortunately I ended up selling for not much more than I paid. It's a story I've followed closely enough for long enough that it's like a TV series I'll be watching until the end, no matter how bad it gets, or, hey, if it miraculously turns around I'll be happy to jump back in.
Click to expand...
Nice attitude and expectation to have.
Sdajii said:
With a CR looming and nothing big on the horizon it's a stupid time to be holding no matter how you look at it, unless you were waiting for the pre CR pump with your finger nervously hovering over the sell button.
Click to expand...
rcw1 over time modified impetuous behaviours... with trading that is... experience counts for everything, old head on old shoulders, don't get nervous... just move onto the next crisis and learn and hopeful any learnings are not the second / third time coming...

Kind regards
rcw1
 
Boggo said:
A few quarters to go still before a CR ?
View attachment 186942
Click to expand...

Those are some very massaged figures. Realistically, they probably have enough money to last until some time mid to late next year, and of course they won't wait until they're using up the pennies under the couch and car seats to do a CR, so I expect it to happen before the end of Q1 CY2025.

Shortly before the last CR (by which time I'd sold out and was very glad to have and thought it insane to consider holding), I asked AGY management if a CR would be needed (just to see what they'd say) and they told me they didn't anticipate a CR would be required and they weren't planning one. Shareholders at that time were thinking there was years' worth of funding on hand and no CR would be required.

Look at what they typically spend and what they spend it on. That cash burn rate is not indicative of what they're actually going to spend. Importantly, look at how much they send to Puna Mining...
 

Similar threads

R
The American use of War Pretext Incidents
Replies
6
Views
9K
sptrawler
sptrawler
Top