Tiny resource so beware

The project is tiny (9m tonnes grading less than 1%), hence the $4M Canadian price. After the placement and rights issue, there will be 800M+ shares on issue plus truckloads of cheap options. How do they plan to raise $200M to build a plant on a resource that contains just $45M worth of Li20 in total? Why do you think GlenEagles were happy to get rid of this pile of rubbish for $4M?
SYA has to finalise the pre-feasibility study, do more drilling to convert resources to reserves, "hope" they find more extensions to the resource with more drilling so as to justify the required cap-ex to become a developer, then complete a bankable feasibility study. All this prior to signing any off-take agreements and this is confirmed in their presentation timeline to production.
This will never get close to being a lithium producer IMO. It's one of the poorest quality early stage Li20 "prospect" I've seen this past 12 months and I've seen a few. It seems like the company is jumping onto the latest fad (lithium) to excite the market. If you want to try and trade the hype then good luck but at circa $30M valuation fully diluted I wouldn't touch this with a nine foot barge pole.