One thing is becoming clearer as each quarter goes by and that is NAL is where the focus is and will be for a number of years. Its already producing , ramped up, paid for , debt free, the resource is there , the expertise is there, more performance can be wrung out of the existing infrastructure , it can be expanded relatively cheaply and is heading for 100% ownership with OTA's from two major players, it's about as good as it gets in this environment.
It's gone from relatively high cost average quality twice failed mine to something with considerable potential now bordering on breakeven in a low price environment. It is the only potential source of revenue we have for years and without revenue nothing else can happen.
What happens regarding refining or our other projects will be revealed over time but first priority on expenditure will be related to expanding production at NAL IMO as it should be...
Four years ago we just had a hole in the ground called Authier, it's been a tumultuous and dilutionary few years which is not unusual for a start up but a lot has been achieved. The original strategy has moved more towards being a spodumene producer for largely obvious reasons, it's what we understand and good at . It's called living within your means not dreaming beyond your means.
CY25 is Shaping up as a consolidation period ( assets and SOI) as we digest the merger and continue to refine NAL , spod price willing CY26 will see plans for expansion at NAL start to come together and also how we proceed with other assets. It's looking very promising but as always we need higher Spodumene prices and lower costs and both are looking likely over time.
Time to go fishing..
Cheers Whisky
SYA Price at posting:
2.3¢ Sentiment: Hold Disclosure: Held
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