Neither has Piedmont ....except it's Off-take agreement with Tesla and yet their MC is still higher than that of Sayona. So perhaps by extension of their backing of Piedmont .....and even though they have done nothing as well as you say , it as though by extension to having had that off-take that Sayona has in fact done something as well. And that is the basis for their shorter term supply arrangements with Piedmont.
So again for the simpler minded ......I will repeat that by extension Sayona has indeed done something and will be supplying something to someone......
And that's of course even before we secure any further supply agreements for the remaining balance of what looks to be a much much larger resources than ever first anticipated.......
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