SYA should just focus on delivering spodumene concentrate as efficiently and cheaply as possible and keep their cash position strong to weather out the current inventory destocking. In other words, they should focus on what they can control.
There's too much noise on PLL's OTA. it's done. it's out of their control. SYA still have 50% upside.
PLL's ability to raise equity for all their projects will be difficult at these prices which is why they have pushed back their carbonate timeframes.
SYA should use this time to drill and build their resources, derisk production bottlenecks and do a methodical procurement plan and design for a future carbonate rather than rushing into things.
once prices rebound (and they will) cashflow will increase, shorts will unwind and SP will rise accordingly.
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