Sayona Quebec have made the decision to continue through ramp up because that's been the plan..
Exactly Norbeto , they need to know what costs the plant is capable of running at ( they will already have a good idea ) plus have a cash buffer to buy a little more time find out and wIll have a cut off cash point where decisions have to be made around continuing or goIng into C&M.
Should we have to go into C&M it's much easier restarting knowing what the plants operating cost and throughput potential is post ramp up for a fact not a guess. Restarting a plant that was only halfway through its ramp up would be very difficult indeed.
We are already 5 weeks into the Sept quarter and they will have even more understanding of what's going on with regards to costs , its obviously touch and go but closing down the plant and losing a skilled workforce is something you do as a last resort and I applaud Board and Management taking this approach. In the end the price of spodumene will be the final decider on the next step and there is not a lot anyone can do about that.
Cheers Whisky
SYA Price at posting:
2.7¢ Sentiment: Buy Disclosure: Held
(20min delay)