That is incorrect. The price was driven up during COVID-19 due to a worldwide shortage of transport and operations for lithium. The Chinese then cut supplies after they had stocked up, leading to a downturn in demand, which brings us to the present situation.
Will Lithium ever reach COVID levels again? No. Will SYA survive? Not if it only sells lithium. We need to diversify into other minerals, which will require more capital financing by shareholders. If we stay on this course, I estimate we will be winding up the operation by the middle of next year. Am I worried? No, and I have $130,000 AUD at stake. It is a good lesson for me never to venture into areas I do not trust or understand.
SYA Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)