Guidance 120 - 140kt which was lowered by Manaģement off the back of output not being met, so to make themselves look good in the pursuing 12 months and therefore is why they turned down that road...people will forget how bad this management really is as they always do if an when prices of Lithium improve.
Even if they reach the current guidance 113kt goes to Piedmont so lets be real it leaves sfa to stockpile, what is more relevant would be how much current pricing is hurting Piedmonts returns and what can they do to stem the flow of bleeding from their perspective...would they pursue or want Sayona to go into C&M to protect them...will they be prepared to renegotiate the current offtake to save their own skin maybe?
Also this is a real possibility as per your statement...
"I also dont think management would operate on a loss with a speculative outlook on a turn around. It would be negligent IMO and if the company went bust anyone capable of reading the reports in great detail would be able to point it out as negligence on the BoDs role"
They have already shown how negligent they by being none compliant with ASIC forcing the issues to get their house in order an having B1 as CEO is a real concern with the conflict of interest so apparent and even more worrying is the same BoD's have a very poor record with other company's and losing Altura was full of Negligence after raising 20 odd million and within a few months they were gone costing investors hundreds of millions in the process.
So imo Sayona needs to get rid of the current BoD's who have many skeletons hidden in their closets after blatantly mismanaging Sayona and the market is showing us that even though lithium is were it is...we need Professional Competent Excutives not the "Second Rate Sesame Street Gang" in charge at this time.
SYA Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
(20min delay)