The project is tiny (9m tonnes grading less than 1%), hence the $4M Canadian price. After the placement and rights issue, there will be 800M+ shares on issue plus truckloads of cheap options. How do they plan to raise $200M to build a plant on a resource that contains just $45M worth of Li20 in total? Why do you think GlenEagles were happy to get rid of this pile of rubbish for $4M?
SYA has to finalise the pre-feasibility study, do more drilling to convert resources to reserves, "hope" they find more extensions to the resource with more drilling so as to justify the required cap-ex to become a developer, then complete a bankable feasibility study. All this prior to signing any off-take agreements and this is confirmed in their presentation timeline to production.
This will never get close to being a lithium producer IMO. It's one of the poorest quality early stage Li20 "prospect" I've seen this past 12 months and I've seen a few. It seems like the company is jumping onto the latest fad (lithium) to excite the market. If you want to try and trade the hype then good luck but at circa $30M valuation fully diluted I wouldn't touch this with a nine foot barge pole.
- Forums
- ASX - By Stock
- SYA
- Tiny resource so beware
Tiny resource so beware
-
- There are more pages in this discussion • 16 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SYA (ASX) to my watchlist
(20min delay)
|
|||||
Last
3.3¢ |
Change
-0.001(2.94%) |
Mkt cap ! $339.6M |
Open | High | Low | Value | Volume |
3.4¢ | 3.4¢ | 3.3¢ | $546.9K | 16.39M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 1146199 | 3.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.4¢ | 8411945 | 26 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 986627 | 0.033 |
40 | 7266587 | 0.032 |
32 | 8250600 | 0.031 |
56 | 10759276 | 0.030 |
42 | 6584859 | 0.029 |
Price($) | Vol. | No. |
---|---|---|
0.034 | 8117945 | 25 |
0.035 | 6519545 | 10 |
0.036 | 8204563 | 15 |
0.037 | 19508833 | 46 |
0.038 | 14118310 | 32 |
Last trade - 11.07am 09/10/2024 (20 minute delay) ? |
Featured News
SYA (ASX) Chart |
The Watchlist
AHK
ARK MINES LIMITED
Ben Emery, Executive Director
Ben Emery
Executive Director
SPONSORED BY The Market Online