I'm not going to reveal my source. If this means you dismiss what I say, that's very understandable. But consider this: I have millions of shares of SYA, and my commitment to Sayona is in the 6 figures. I am not here to play games, fool around, lie or mislead anyone.
Yes, the Amos plant is in the due diligence phase and by my understanding there was an extension requested and granted to the DD phase. That was the last update I received. Now it seems that Amos is dead, although that is not 100% confirmed.
This is not a Brett Lynch vs. the BOD thing. Brett Lynch is gone, and he is not coming back. Nothing will change what happened.
This is about finding a competent CEO to run Sayona. A sharp CEO with experience running an ASX100 company.
James Brown is not that person. His resume as a CEO is terrible. He ran Altura into the ground, and has run Morella and Greenwing sideways for a long time. He refuses to engage with shareholders, and his communication skills are atrocious. What exactly has he accomplished since Brett Lynch resigned in August? It is now almost December and all we have so far is a strategic review that has nothing new in it.
The market has demonstrated that it has ZERO confidence in James Brown. A lot of funds have now reduced their exposure to Sayona because they think James Brown is a joke.
This is also about finding a balanced BOD,with a diversity of expertise, opinions, and perspectives. Not stacking the BOD with "yes" men from the Altura days, including Philip Lucas who literally advised James Brown on the debt financing that ultimately drove Altura into bankruptcy (it's on his resume, look it up). Now JB wants him to come back?
HELL NO.
Do I want the BOD to go? YES! They don't have vision, enthusiasm, or vigor. They are out of touch with the market. They are all old coal men who have marched in lockstep from day one and don't like a difference in opinion or perspective. They don't want or like fresh blood. That is absolutely unacceptable.
What/who will take their places? There is already a plan in place that will address that. It depends on what happens at the AGM.
SYA Price at posting:
7.9¢ Sentiment: Hold Disclosure: Held
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