I believe the biggest problem was borrowings - around $230M @ 15 percent interest,
and weak lithium price, and they may have been screwed on a finance deal overnight,
at the end.

They built it and had it all together -



even an offtake agreement here -
Altura Mining signs multi-year lithium offtake deal with Chinese major shareholder
By Robin Bromby - June 19, 2020

From 2022, Altura will supply 60,000dmt of spodumene annually to Ningbo Shanshan.


But they had DEBT!!! ($200M+)



And lost it all just before lithium prices took off! The Sayona directors
involved won't forget this pain.