But I think the days of 4-8 thousand per ton swings are done.I...

But I think the days of 4-8 thousand per ton swings are done.

I certainly wouldn't invest on the expectation of another boom but as long as we are in production we can benefit if one happened.
It reinforces what really matters at the moment and thats getting costs down to a point you can survive a concentrate price that one can reasonably expect won't be gone below without supply and demand making it unlikely to be sustainable for more than short period.

There is a good chance we have seen that price but all the board spills in the world won't change it.

The current MC of around $450m is a relection of the reality we are a producer losing money and its hard to see that changing , beyond left field events, untill that situation reverses and the nearest timeframe for that possibility is the Sept quarter IMO with this quarter giving a good indication of that likelyhood combined with spot prices at the time.

As an example of value, there is a miner ( not Lithium) out there that not only produces profitably, but has a better cash position , own 100% of their project, pays a good dividend, returns excess cash during good times yet sits on a PE ratio of 3 and a MC more or less the same as SYA. Such is life in the mining sector where if the commodity you produce is hot any unrealistic shareprice is possible ( SYA 39c is a good example) but when it goes cold it's the grind of hanging in there waiting for better times.

Cheers Whisky