Goof thinking. mega, but I reckon the very reason Sayona and Pilbara are unlikely to dance the tango together any time soon is the same reason why Pilbara and Patriot are a chance for some horizontal folk dancing: Ken Brinsden (ex CEO of Pilbara and current chair of Patriot).
For starters a Pilbara / Patriot coupling is a cleaner deal for Pilbara what with Sayona only owning 75% of NAL and 60% of Moblan whereas I think Patriot has as good as 100% of Corvette. And KB says that the initial MRE at Corvette could be as much as 200mt, so, if right, then a single mega mature project in WA generating torrents of cash and a single mega early stage project in Quebec in need of torrents of cash and technical expertise. Like tongue in groove.
Anyway Sayona already has a dance partner in Piedmont and another in the subsidiary of Quebec government's investment arm, Investissement Québec. I think Sayona probably have their timings right with the big cash flows (for Sayona) from NAL coming on stream about when the likely capex requirements at Moblan ramp up. To me at least, it is likely the main corporate action for Sayona in the next little while will be to ensure that if the subsidiary of Investissement Québec wants to sell down its 40% holding in Moblan then Sayona has first dibs on that holding.
SYA Price at posting:
22.5¢ Sentiment: Hold Disclosure: Held
(20min delay)