You're probably right to a certain degree on that point. And it becomes more apparent when you compare statements made at the time of BOTH 18.0 cent cap raises in May 2022 and May 2023.
Like for instance asking ourselves whether we still have those funds which were allocated against Authier Project , and yet nothing seems to have been moved forward on that. And what happened to that planned DFS on Authier highlighted below ......
IO mean we've paid enough in studies , consultants , BBA , Testing of samples , Drilling ( minus 3 western extension holes still NOT ever released .......
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And this can be observed by the extracts taken from those ASX announcements below:-
26 May 2023
A$200M PLACEMENT TO SPEED QUÉBEC LITHIUM PRODUCTION
27 May 2022
SUCCESSFUL A$190M INSTITUTIONAL PLACEMENT TO FUND NAL RESTART AND BROADER DEVELOPMENT INITIATIVES
And what about the ALL important ' Tailings ' and Dry Stack improvements. According to the statement by Sayona below and the allocations of the 18.0 cent 2022 cap raise , this was supposed to have brought this aspect to the fore when the NAL DFS was finally put out over the top of the PFS. Anybody here anything bout that .....
? Nope. But I have certainly been banging on about it because obviously Sigma has benefited immensely from its own ' Green ' dry-stacking of tailings and he ' Premium ' price it received for its FIRST announced shipment. ( re the previous post I submitted on this ) .
So how's ALL that capital expenditure gone Brett & Crawf.....
How have we done with regards to that aspect of the project Guy's......
? Or how's the RIO sampling of Sayona ore going ? Because its now been over a year since we new about that. What's the go with it.......
So you can compare what Brett had stated in that initial pre-feasibility study back JUST before the 2022 cap raise to that of what Piedmont stated in their own release and interpretation of that Pre-feasibility news. ( see just below )
23 May 2022
POSITIVE PRE‐FEASIBILITY STUDY ENHANCES NAL VALUE
The NAL project will consist of a 4,200 tpd spodumene concentrator, extension of the current open pit, ore stockpiling and blending area, waste and overburden stockpiles, existing conventional tailings as well as new dry‐stack tailings facilities, mine garage, administrative buildings and other infrastructure. And this bit from Lynch as well......
And as I have already stated in previous posts , its not as if this processing of tailings and dry-stacking hasn't been a ' KEY ' issued in establishing the ESG credentials of your Lithium project as RIO and others have been smashing it out for years now. Refer below extracts
Even as far back as 2019 RIO had been significantly involved in the mining processes applied to the waste extraction side of mining operations as exampled in their pilot plant established at its Boron project in California.
Rio Tinto announced on April 7 that it has kicked off the production of battery-grade lithium from waste rock at a lithium demonstration plant at the Boron mine site in California, United States. Lithium is a vital component in the production of batteries that power electric vehicles (EVs) and most high-tech electronics.
Rio Tinto’s initial small-scale trial in 2019 had successfully proved the process of roasting and leaching waste rock to recover high grades of the metal.
The company said that the demonstration plant is the next step in scaling up a new lithium production process developed at Boron mine site, to recover the critical mineral and extract additional value out of waste piles from over 90 years of mining at the operation.
So yeah bottom line here is I would NOT have given these Guy's the benefit of the doubt in granting resolution 's 1 & 2 as they haven't demonstrated they even grasp the significant of these main issues that everyone seems to FULLY understand and leverage off of in their mining projects. Nor was the resolutions even best practice. So why should you all be that surprised that they can't even manage the purse strings all that well.
They claim that the NAL project was on Budget , but that was JUST the $100 odd million and not the OTHER $100 or so million , and now the additional $200 million which seems to be claiming some of the same categories which should have been done and dusted already.
So from that point of view it seems a Merry Go Round or ' Pass the parcel ' ....wine & dine , entertain , continual conferences , meetings and overseas rips ...ALL being spent on the lamb and off the shareholders backs , and ALL for naught really as we don't have a single thing to show for it and appears we have to spend the same monies in achieving the same things ALL over again.
When will the ' Music ' actually stop with these guy's and we actually get something meaningful delivered for all these studies. Like the delivery of our end product and its acceptance through the same best practice Industry standard of its ' Green ' ESG standards.
So there is a lot that these guys haven't delivered on and seemingly ' fudged ' the numbers on.
And it shouldn't be understated as to how important it is to manage the numbers and accounting for the projects in the highest standards. Especially so when you aren't earning and revenues and making profits.
But these guys can't even seem to manage the disbursements and allocations of shareholders funds between 2 capital raises and only 12 months. Why are we allowing Piedmont to not pay its bills to us on time on a quarterly basis and when these costs are incurred. This isn't a FREE ride on the shoulders of Sayona shareholders. I mean who do they think they are fooling .
(20min delay)