Ann: Change in substantial holding from PLL, page-14

exactly right.

net assets = 884M
market cap = 870M (9.7c share price)
granted net assets might contain intangibles for the purchase of NAL carbonate plant (ie goodwill)
but in general we have the following assets:

NAL and NAL spod production
NAL 1/2built carbonate plant
Moblan
Troilus
Various other WA and Arbitibi tenements.

And I firmly believe that with all the inflation on both wages and raw materials to reconstruct the current tanigble assets we hold excluding resources, this would cover any and all goodwill SYA hold.

As such paying for SYA atm your effectively buying the stock based off asset book value. With as I said yesterday no consideration on any of the following:

• assets are in production and thus producing future economic benefit ie NAL spod running 24/7
• no consideration of NAL and Moblan resource expansions from various drilling conducted
• no premium for being the only Spod producer in north america (ie unique jurisdiction). If you pair this with being sourced from an ethical and environmentally friendly mine site, it should command a premium on the sales price.
• ties to the Quebec government. Oh how embarrassing it would be for this to fail again, the government I believe wont let this happen. Hence investment in Quebec even if not directly to SYA. But even still, if we dont get funding, we do get tax and other grants/credits when investment does happen.
• Look at all our Neighbours in the area, do you honestly think multibillion dollar market cap companies are going to just let SYA take a slice of the market? The potential for offtake or even takeover is there. An in the current market has already happened in WA with various explorers and juniors being bought out or merged.
• qtrly due end of oct? cashflow and money in, maybe an update on no issues with ramp up.
• dunno when Split & GT3loui went to NAL but they mention 2 weeks from then government announcement? - Could this have been the announcement?

Canada is pouring billions of dollars into the electric vehicle industry. Will it pay off? | CBC News
Or is another one on the way???

Look at this logically people, we hold shares in the first spod producer in Canada. With all of the OEMs looking to secure supply, do you honestly think that SYA wont come up on anyones radar?

Huge potential here, more potential here than LTR, CXO et al who are all in the same jurisdiction.