Don't ever forget this important slogan folks .......and that is" It's ALL about the Tonnage " Because it is !!
And I repeat this for those who DON'T think we can or should compare ourselves to our Industry Hard Rock peers in the ILK of Pilbara Minerals.
Sure they have well and truly established themselves as producers ....and they have the capabilities of producing more ore less double the nameplate production of ' spodumene ' from their bolted on Altura facilities . And O.K in addition to that , they have spent hundreds of $millions of dollars establishing this position. In fact around A$505 million to be more exact and a further A4$240 million on Altura just to effectively bring forward their own Phase 2 production plans.
And O.K , they also have the backing of Mom & Pop's Australian retirement superannuation funds - that is of course until such time they deem that they must execute their investment return mandates in the interest of these same Mom and Pop stakeholders.
So will they ( Australian Super ) commit for the whole of 10 years in the same way as Quebec's has committed to this Industry - or will it be ONLY for such a time while the Industry continues to enjoy these present rates of returns it is currently is experiencing.
So prior to their acquisition of Altura , they ha spent roughly A$380 million at cost on their production facility with a further approximate A$106 million on right of use on leases and minerals rightsPLUSa further A$16.5 million on capitalize mine rehabilitation costs. So these combined costs of around A$505 million are before it's A$240 million acquisition of Altura . Pilbara also has some A$200 million plus in carried forward tax losses.
So all of this should be put into the context of Sayona who has ONLY spent approximately $20,972,917 on exploration development in Canada , has NO right of use costs in relation to charges against its tenements , and has carried forward losses of around $67 million .
So then consider that Pilbara had only produced 114,239 dmt for the year per its latest accounts and which EITHER of Authier or NAL could easily produce per their own individual DFS's and economic feasibility studies.
So then consider that even without ALL these vast ' Dual ' Pilbara potential assets of GOLD and LITHIUM. At the same time forget about the potential in Tansim and the 30 - 40% expansion potential of Authier , that Sayona has only spent roughly $77 - $78 million TOPS on its own acquisition of its FULL plant , Concentrator and Hydromet plant valued at over C$400 million.
After weighing up ALL this and considering the assumptions that PLS's acquisition of Altura at nameplate of 220,000 tonnes would be equivalent to that of ONLY Sayona's acquisition of NAL - and consider also the fact that PLS is only producing what either of Authier or NAL could do in their own right with FULL operating plant.
This would then bring us back to the ' straight up ' comparison of ' TONNAGES ' and how we can then postulate an understanding into the correlation between the TWO companies at the present moment.
So this fall back to a very simple ' conservative ' formula would go something like this :-
(20min delay)