How is getting SYA a share in NAL and funding 25% of the JV...

How is getting SYA a share in NAL and funding 25% of the JV doing nothing?
How easily some people forget that prior to PLL teaming up, SYA was the AJM director's fallback plan that struggled to navigate the permitting process at Authier and didn't have much else.
Who is the SYA BOD now? James Brown, Alan Buckler and their newly appointed AJM lawyer.
How many times were SYA's advances towards NAL rebuffed before PLL joined? I understand that SYA holders are upset about the offtake but that was the price of getting NAL which got you Moblan etc.
Would you prefer to still be attempting to get Authier permitted and find a way to raise funds for a converter there?

I think people are starting to understand that expectations, particularly around costs, were extremely optimistic on these boards. Rampup isn't easy and it takes a long time to get costs down to an acceptable level. Costs matter to the market now; there was a nice stretch of super high spod procing where they didn't much. That was when companies started releasing pricing. In the last downturn there were similar guessing games.

As I have posted many times before, am yet to see any lithium project come close to DFS projections and I don't believe NAL will be the exception - even though they did release the DFS so late that majority of Capex could be treated as sunk.

The task SYA has right now is convincing the market that they can rewrite history at NAL and get it functioning. On the bright side for all the BODs tendencies to struggle with finances, disclosure, and a seemingly permanent myopic mindset, they have one thing going for them: They can get a concentrator up and running quickly and relatively cheaply. That is what is needed and all the market really wants right now - NAL with a reasonable level of output and a solid margin, even if the PLL OTA needs to be subsidised for a few years. The trouble is that SYA have not been releasing the metrics that really allow a proper understanding of the rampup.

On a side note, this thread does take me back a few years to when people were first discovering the difference between WMT and DMT, FOB and CIF etc with the previous generation of entrants.
Creditors are paid faster than debtors pay? Are we both talking about mining? Usually even with long-term OTAs provisional payment is received close to loading and adjusted once checked on delivery. Creditors on the other hand, well they typically are paid much, much later as I suspect holders here will learn after seeing a few more quarterly cashflow statements. Last quarter was the first full quarter of production and for the most part this quarter is when creditors will be paid for that. 60 days, 90 days... it varies.

The point is that SYQ will have only a handful of debtors (the shipments) and they normally pay the bulk within a week or so of the product going over the rails at the home port (FOB). Sometimes a letter of credit is required before the ship leaves. Prepayments can be pretty common - especially on spot when a customer wants to secure a shipment early.