Mate , its as much about the people as it is about the Capital and Timelines to effectively be producing. And not only do we have access to Piedmont's BOD and expertise , we also have not only a shorter pathway , but also a cheaper pathway to producing lithium chemicals in Quebec.
And the market will reflect these points because of Sayona's 75% interest in that specific project and its 80% interest in the overall Company across its valuation sooner than what Piedmont will be able to achieve. Piedmont will be the beneficiary of this appreciating valuation YES , but's its 20% interest in Sayona while reflecting this is absolute ' economic ' terms of Sayona's increasing value , it is only really worth it as an economic interest other that that if Sayona was to pay a dividend outright to its shareholder's or spun something out of the stables like its GOLD interests or its Pilbara Lithium Interests should they also grow substantially more in valuation . It's 20% ( or 19.9 % ) stakeholding in Sayona also provides for its ' non dilution ' clause in order to maintain this 20% holding.
So essentially that's all it really means. The only other real way it enjoy's it 39.9% economic interest is if Sayona was to ' Spin out ' its North American Interest or list them separately on another exchange and whereby it still held its 20% of the Sayona Parent. But even in a situation like that , 1 + 1 doesn't always equal 3 , and that Sayona Australia's market cap would reduce accordingly as Sayona Quebec was independently valued elsewhere.
At the moment , and as a shareholder of Piedmont , you should just be content with the fact that your DON'T have to payout 39.9% of any specific loan liability taken on for specific Sayona Quebec Capital Expenditures .......and be Happy with just that ....as well as the fact that Piedmonts interest has not only gone up but also maintained its current valuation via the stable Sayona SP. .
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