I dont think anyone is deliberately not making a profit mate.. Brett stated at the 2022 AGM that they had options with the remaining allotment of spodumene. He said selling on spot would maximise short term profit and long term off take could help finance a monster project at moblan. Well 113kt out of NAL for that type of partner isnt very appetising... But 226kt + brown field expansion gives them a bit more appeal...
What im saying is i think they were caught between a rock and a hard place.. They couldn't lock in anything long term because Sayona wanted to tie it to larger projects and the PLL offtake made things complicated. The only other option was spot which is very volatile as we've seen.
In the case of your last comment
"I remember an ex manager mentioning an offtake was imminent and then he was sacked."
Im not sure theres any record of him saying an offtake waa imminent was there? now that would be unethical.. just as is suggesting he was sacked when there also no evidence of that.
(20min delay)