I have been in this stock for over a year now having bought a substantial holding in the early 3's. I think what we are seeing now is a sell down on weakness (due to capital raise) and what looks like a delay in granting of environmental licenses. I would reiterate that this is a delay and not a rejection- SYA are still in compliance with environmental policies albeit there does seem to be some local resistance. Quebec is known to be a mining friendly duristiction ( it's not DRC) and the government need toshow a degree of pragmatism in assessing the benefit of encouraging mining investment. Sayona haven't broken any laws and to date have actively engaged with the locals- this is a fact. What needs to happen now is a balanced debate and both the locals, government and sayona have to meet half way. The recent capital raise provided a useful cash buffer to allow negotiations to take place- sure the short term traders will be disappointed as the expected pending DFS won't allow for a quick 100% gain however, the fundamentals haven't changed and we still have a well versed, extremely experienced mgt team to deal with the on going discussions. IMO water supply in any community should be protected and Sayona mgt owe the community a duty of care to ensure this happens- so long as they do this everything will be ok. I for one wouldn't invest in a company that is socially irresponsible and I believe mgt are of a caliber to see this through.
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3.4¢ |
Change
0.001(3.03%) |
Mkt cap ! $339.6M |
Open | High | Low | Value | Volume |
3.3¢ | 3.4¢ | 3.3¢ | $129.8K | 3.910M |
Buyers (Bids)
No. | Vol. | Price($) |
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75 | 17098102 | 3.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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3.4¢ | 5797435 | 33 |
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No. | Vol. | Price($) |
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75 | 17120128 | 0.033 |
179 | 44117845 | 0.032 |
63 | 23188228 | 0.031 |
101 | 16869804 | 0.030 |
26 | 2652938 | 0.029 |
Price($) | Vol. | No. |
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0.034 | 6703018 | 37 |
0.035 | 12341935 | 35 |
0.036 | 6446637 | 35 |
0.037 | 4139940 | 19 |
0.038 | 3485572 | 18 |
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