Altura Mining (AJM) constructed a mine adjacent to Palabra...

Altura Mining (AJM) constructed a mine adjacent to Palabra Minerals. However, shortly after the completion of the mine, lithium prices experienced a significant decline. As a result, financial institutions compelled Altura Mining to divest its assets, leading to Pilbara Minerals (PLS) acquiring the mine at a comparatively lower cost. This event is remembered by the directors of Sayona Mining Limited (SYA), which likely influenced their decision to raise capital through share dilution. By issuing additional shares, SYA aimed to strengthen its financial position in response to the challenges faced by Altura Mining and the fluctuating lithium market.