PLL offtake is a stone around SYAs neck. Going to take a few...

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12/09/23

15:52

Post #: 69828589
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Originally posted by Kevo88: ↑

What I cannot grasp is, we are in the middle of the Lithium projects being ramped up in Canada and are already currently in production.
We have various assets including a half built carbonate plant and 60%/40% with government good grades in Moblan. Yet here we are at $1B market cap.
An while LTR has offtake agreements when production is in place the current lithium prices are still trending downwards. It seems that because of sheer luck of a giant that is ALB putting in take over offers it has been shielded from lithium industry headwinds. An as for price for their offtake, well lets just say it will be subject to indexes etc. non-disclosure stuff. Yet they are at 6.6B market cap 6 times + on ours......WTF!

So factoring in all the above, plus the added cost of risk associated with LTR ramp up into 2024 is SYA undervalued at 10c. Well per even conservative NAL dfs figures yes, per NAL carbonate potential yes, if we manage to ensure full ramp up with no issue again cross that risk off the list.

So where should that leave our share price? Well even if we leave out most of the above IMO NAL should be operational and at current lithium prices at a market cap of at least 20c. This is given the conservative nature of the prices used vs what is likely to be received from the 2.2B NPV which is likely more once you remove the conservatism attached.

The punishment in price is not only due to the macros but also due to a number of ball drops from our management. Can a company be derailed by poor management? Yes. Hopefully over the coming months we get some new energy at SYA with a CEO who can see NAL downstream vision as priority. Once the priority shifts back to this with someone worthy at the helm we may see a share price trend reversal.

As much as it pains me to say, until management can step up communication that NAL is ramping up on time and with no issues even with these recent efficiency adjustments, have sourced a CEO with the industry expertise to see the SYA vision of NAL carb and can regain shareholder trust by saying something like offtake and actually delivering it. We may then see a trend reversal, until then we are adrift and at the mercy of the market.

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PLL offtake is a stone around SYAs neck.

Going to take a few months to determine what crumbs are left.

BOD will probably offer one of their "own" for the CEO position, they can't help themselves.

SYA Price at posting: 10.3¢ Sentiment: Hold Disclosure: Held
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