Yeah, they're going down because there hasn't been anything substantial happening for ages, they are not in the same boat plus they're trying to establish a research center before trying to maximize revenue, long term if things play out for them then yeah perhaps a good investment, but purely skeptical.
Sayona is different because it is currently selling, has a form of revenue in a bad but real OTA with PLL so at least they can generate revenue while also having half their production able to sell at whatever price is currently offered.
They have significant cash to fund future operations if there is limited demand in the short term, however, the production of lithium batteries is estimated to reach 10 to 17 times current levels by 2030.
General Discussion Topics, page-113035
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