What's been happening with Sayona Mining Ltd?
Sayona Mining Ltd (ASX: SYA) shares have had a year to forget. One year ago, shares in the S&P/ASX 300 Index (ASX: XKO) lithium stock were trading for 23 cents apiece. Which was already well down from the highs of 36 cents a share in April 2022, when lithium prices were storming towards all-time-highs.
Yesterday, Sayona shares closed at 4.6 cents, putting the stock down 80% over 12 months.
Despite a stabilising lithium price and maiden production in H1 FY 2024, Sayona Mining shares have slumped 37% in 2024 to date.
With maiden half-year revenue of $118 million for the first half, the miner closed out 2024 with a cash balance of $158 million as at 31 December.
But it's been burning through cash since then.
At its quarterly update, released on 26 April, the company reported achieving an 18% increase in production from the prior quarter to 40,439 dry metric tonnes (dmt).
Costs also increased, however, with unit operating costs up 10% quarter on quarter to $1,536 per dmt.
Rather alarmingly for Sayona Mining shares, while the lithium miner's concentrate sales volumes increased by 142% from the prior quarter to 58,055 per dmt, it received an average realised price of $999 per dmt.
Or more than $500 per dmt less than it cost to produce.
Management reported cash holdings of $99 million as at 31 March, down $59 million over the three months.
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Last
3.6¢ |
Change
-0.001(2.70%) |
Mkt cap ! $370.5M |
Open | High | Low | Value | Volume |
3.7¢ | 3.8¢ | 3.6¢ | $827.3K | 22.47M |
Buyers (Bids)
No. | Vol. | Price($) |
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49 | 7146787 | 3.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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3.7¢ | 1722440 | 3 |
View Market Depth
No. | Vol. | Price($) |
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42 | 6600974 | 0.036 |
87 | 15283551 | 0.035 |
36 | 5889210 | 0.034 |
36 | 13174824 | 0.033 |
60 | 17283346 | 0.032 |
Price($) | Vol. | No. |
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0.037 | 126853 | 2 |
0.038 | 3010117 | 15 |
0.039 | 2724130 | 15 |
0.040 | 4866751 | 32 |
0.041 | 4401432 | 18 |
Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
3.7¢ |
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Change
-0.001 ( 1.60 %) |
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Open | High | Low | Volume | ||
3.7¢ | 3.8¢ | 3.7¢ | 11169403 | ||
Last updated 15.57pm 14/06/2024 ? |
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