Maybe they liked and used the price forecast here ... you seemed to like it.
It's hardly been more than a year ago (April 20, 2023) when the updated NAL DFS was produced. Surely you read it. Surely you noted the price forecasts, supply/demand forecasts and who they relied upon. I'd post it but maybe its about time to go look at it either again or for the first time.
The "Review" was primarily about ways to reduce NAL operating costs. Manage what you control. SYA mgmt does not control spot price.
"The operational review was conducted to assess multiple operating scenarios and identify opportunities to reduce NAL’s cost base, manage cash flow and preserve financial sustainability and value for Sayona shareholders."
"Over the long term, we remain optimistic about the demand profile for spodumene concentrate and other lithium chemicals. With high quality lithium resources, Sayona is well positioned as a reliable, strategic supplier of lithium products to serve the North American EV and battery market as the energy transition accelerates."
OVER THE LONG TERM ... again consult the DFS ... what is their "long term price forecast"? What is their LoM average.
What SYA should do is immediately suspend spending on further drilling (except for any FTF capital that was raised and has to be used) and not spend capital on anything that is not essential right now (e.g. Moblan) ... slow the cadence down to minimum.
Low prices crushing Nickel (see what's happened in WA) and Cobalt (mine in C&M all over the place) and Rare Earths ... all battery metals and all prices crushed due to market being flooded by "cheap" material underwritten by 1 country.
I suppose all those BoDs are clueless too - right - too optimistic? Listened to the wrong forecasts?
Remember what happened to all those posts (from IBs, PRAs) referencing future potential surplus and price falls in 2023??
SYA Price at posting:
3.2¢ Sentiment: Hold Disclosure: Held
(20min delay)