General Discussion Topics, page-1731

In my last post 'if' for BAPE wasn't mentioned - rather 'the much anticipated favourable BAPE decision'. The delayed decision is disappointing but nevertheless will come subject to due process. SYA is waiting for the approval and as such there are no guarantees that it will go through in the timeframe allocated or it's current form and hence I still see it as a hurdle and thus there is a risk of further delays/demands. The BAPE decision is a separate issue from NAL but both have been delayed and a decision was expected much sooner but alas, it has dragged on and on. PLL's foray into SYA is welcome and perhaps their risk assessment for BAPE going through in a timely manner has been carefully assessed and determined as a low risk - low enough so that offtake arrangements have been already made. So perhaps not so much as if the approval goes through but rather will it go through without further delays and thus affecting timelines.

In my view any risk by the markets are also assessed and dealt with by share price movements. As PLL entered, the market assessed the entry as positive and an endorsement for SYA. The immediate SP appreciation was a testament to that endorsement. Now the same market has slowly seen the retrace as it appears to assess the risk for the NAL decision and it's affect on SYA either way. Until that decision is made and in the absence of any further news, the SP will in all probability be languishing. Once decision is made and announced then market reaction to it will be immediately evident. Assuming a positive upward movement initially, it may retrace once again until the BAPE decision or till such time as further news on drilling results.

In light of the above, I hope that sooner the later markets will rerate SYA to a more reasonable level based on Sayona's tenements, prospects and comparisons with other lithium plays. However, the markets are fickle at best and as such whatever valuation one places on a company is irrelevant when it comes to market forces as it is these forces that dictate SP movements on a daily basis independently of any analysts' views or any posters' views - whether up/down ramping. The retrace in the last week or so is not because of any views expressed by any here - we are all way too small in influencing the markets in that way. I'm waiting for SYA to reach 10c, others for 20c others for a dollar - I like the odds of reaching 10c - it should reach that relatively easily - reaching a dollar may prove somewhat more troublesome.