Brilliant post Kevo88 and 100% correct!
SYA's BOD is recklessly charging forward with their brilliant 'costs outweigh benefits' plan.
Umm... continually losing money ain't a sustainable business model everyone - that leads to ruination. In the long run, with the obvious long-term demise of lithium prices (look how long its been trending down), a C&M approach may have proved far less costly.
But who cares right? The love for this BOD is huge around here and some will tell you all about JB's marvellous mining experience - which is on display not only at SYA - check out the condition of 1MC and who could forget AGM. The acumen JB demonstrates / demonstrated in all these companies is / was truely stellar and I'm sure their SH's are / were extremely grateful for having such a qualified expert work his magic.
As for a Carbonate Plant - the dinosaurs running SYA into the ground wouldn't know where to start. But that doesn't matter either, appeasing PLL is paramount (and digging and shipping at a loss is so much easier). And no matter how bad the PLL deal is, it doesn't effect the Board's glorious pay-packets, so why even bother going down the carbonate path with any sense of urgency?
Not long ago I said the SP was heading back to the 3's (people scoffed) - and now it's just around the corner. But I'm sure with 10 Billion + SOI it'll rise real easy - so don't worry.
Well done JB, Buckler, Crawford and all the rest, you're making excellent profits for your SH's, I mean yourselves - keep the good work up!
Now, as an outsider looking in, I and probably 1000's like me, wouldn't touch this nightmare with a barge pole - and certainly not with this self-serving, self-rewarding, myopic, poor decision making Board in charge. The name James Brown (and all the baggage that entails) is an enormous red flag - unless of course you're a shorter, in which case it's, music to your ears.
By the time of the AGM, a SP in the 2's is a very real possibility IMO. So carry on doing what you're doing JB... a job well done (you should give yourself another raise - and he probably will LOL).
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