Ann: A$200M Placement to Speed Quebec Lithium Production, page-85

I think they call that fluff to soften the blow and give plenty of positivity to fill page 1. WA exploration got a chunk of real estate there as well for its $5m allocation. I cannot imagine how any of this funding speeds development outside NAL. This is simply replacing funding the departing CFO earmarked for those categories that will play out at their usual "accelerated" / "fast track" rate.

When you get to the nitty gritty of the fine print you can see there has been a major blowout in the NAL estimates. Off course PLL will need to chip in their 25% of costs but they have an early sizeable pipeline of funding out of SYQ that will likely cover their commitment.

I am curious to see if SYQ and by extension Sayona itself will be subsidising the PLL offtake. My gut tells me it will be quite some time if / before the actual COGS is below US$810dmt SC5.4 delivered.

I assume investors will be updated on revisions once a replacement CFO has had time to make sense of the situation at NAL.