resources in the ground arent worth a spit in the wind when lithium prices are where they are.
they either need to recover more (out of our hands) or management need to do some stuff drastically to reduce unit cost per ton. What exactly is the point of them operating atm???? to degrade plant and equipment and generate no investor value? to simply appease a JV partner? the 3rd seems the most likely and also most irresponsible. Add to this that they are then also feeding more wood to the fire that is the poor spod price via dumping more of it into an already oversupplied market.....
This much anticipated spod price increase is starting to take on the same appearance as previous announcements. All fluff and no substance, but hey good intentions right....
SYA has miss the lithium cycle cut off for its supply contract and would be thick to sell our spodumene at present at a pittance of its value during a market down turn. Similarly with if we had an aggressive takeover or even a " fair " value one. An whats fair to some may not be fair to others.....
Rather than focus on resource increase, management now should be enforcing a rigorous review of costings to ensure unit price for production comes down by the end of Q4 2024. This is all they now can do seeing as ramp up is where it is. They cant simply wind down now and to do so will likely result in permanent shut up of shop.
Hindsight they should have followed the Core process of a temp wind up until the next boom period commences albeit to some shareholder disapproval and value loss. A company that still exists at a future date has far more value than one that doesnt...... This riding out the storm crap via operating is only added risk, no shareholder value growth and eroding equipment & plant. Not to mention depleting our resources at the lowest sale prices just to try and keep solvent to pay their workforce and line there own pockets.
I guess this is what you get when you get mining gurus that arent A+++ driving the bus of a publicly listed company.
The next proper movement likely wont be until the quarterly comes out unless we get another left field announcement. Wanna hope that the cost is down cause if we have another quarter like the last you can expect 3s again without a shadow of a doubt!
Not pessimistic, again just the fundamentals at play. As I previously stated, the economics havent changed and the last up lift was likely either charting or as now visible delisting.
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