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3.4¢ sayona mining limited

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167 Posts.

18

03/01/24

18:56

Post #: 71714244
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Originally posted by Rota16: ↑

Any thoughts or theories on why such a large drop in one day? China's production has traditionally been slow in January before the New Year. Alternatively, some may want to start restocking, but at a lower price. Throw a whole heap of lepidolite into the market to reduce the price, but how do those lepidolite producers operate at such low prices?
I guess we can still continue to produce and provide for the PLL offtake, while we wait for the spod price to improve again. I don't think it is worth selling any spod for the JV at these prices. We were only looking to sell around 50,000t (in addition to our first shipment) for the JV this financial year anyway. Hopefully they were able to get at least 20,000t away last quarter. If I had to guess, I would guess that prices will start to improve after CNY. I have seen how some of the larger producesr are either already reducing or considering to reduce their output at these lower prices, and that was before the 18% drop today. That will have an affect of reducing the supply to the market. While higher prices was a cure for high prices, equally lower prices will be a cure for lower prices.

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Close of future on 16th Jan 2024. May be that is impacting - traders closing long positions.

SYA Price at posting: 6.6¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 3.4¢		Change -0.001(2.86%)		Mkt cap ! $349.9M

Open	High	Low	Value	Volume
3.4¢	3.5¢	3.3¢	$869.1K	25.55M

Buyers (Bids)

No.	Vol.	Price($)
144	27734596	3.3¢

Sellers (Offers)

Price($)	Vol.	No.
3.4¢	4225515	27

View Market Depth

No.	Vol.	Price($)
145	27771739	0.033
98	24758994	0.032
45	18076332	0.031
89	13989767	0.030
19	4563858	0.029

Price($)	Vol.	No.
0.034	4171746	23
0.035	19612323	69
0.036	9403466	28
0.037	3025237	15
0.038	3974762	18

Last trade - 12.33pm 26/06/2024 (20 minute delay)

SYA (ASX) Chart