General Discussion Topics, page-136554

I think there's a level of uncertainty around Sayona. Board re shuffle, unclear partnership direction of Piedmont aswell as uncertainty around pricing. The more I look into it, the china spot price is irrelevant to Quebec. The government is SO clear the want the supply chain to remain in Canada and to develop this there has to be floor and ceiling prices set at various levels of the supply chain.. this obviously still needs to be worked out but adds another layer of uncertainty.

Like I've mentioned previously, Sayona is in a bit of a unique position as the only producer of hard rock spodume currently in NA so this kind of puts us in front in terms of being in production in anticipation of this in country supply chain but at the same time puts us in a very risky position This early in the cycle because production and ramp up is so expensive and we're selling into the bottom of the current cycle.

I guess what I'm saying is that other hopeful producers will be coming online from 2026-2030 when the next lithium cycle is probably going to increase and stabilise so they'll most likely have a safer and steadier ramp up pricing environment and more established chain.

We're kind of floating in no man's land at the moment but by god, once we're at nameplate and this supply chain environment is established, we will be in the absolute No 1. position to capitalise.