Bid War : Evolution Metals (EMC) vs Sayona Mining (SYA), page-23

I was just pointing out SYA have a mine and probably know the true cost of extracting. They also probably wouldn’t to overhaul their capital structure. Progressive payments as they extract is probably what they would like.
On the other hand EMC with US backing is the traditional automakers in the US GMC or Ford that need a close by resource. Tesla already has one thru PLL and could be viewed as a competitive advantage. Do you really think the big automakers will pass this opportunity? EVs will be big business but especially in company fleets like delivery cars etc.
And finally NAL administrators would look at the guaranteed upfront money. It’s a safer bet and as they get paid on results they are likely to like the upfront payment. They won’t want to risk the price on the future price on lithium.
Sure it’s speculation otherwise the SP would have tanked 50% or more already.