Of course we are being lied to the investor presentations always make over promised statements to shareholders and I continue to get burned even after doing research.
Back in 2017 I was invested in Ioneer (ASX) and under one announcement was told the Buckwheat plant species that is sat on the site is of "no material matter". Fast forward to 2023 and the company failed in its bid to obtain a permit and if it fails again Jan-Mar of next year its a second fail at obtaining a permit and do you know why this permit has not been issued. The flaming BUCKWHEAT. So when I invested significant sums of money on information presented it was all in the hope of true in what they present.
Unfortunately for us plebs all management ever do is say did you read the disclaimer before investing. Anything can happen and change.
What was even more corrupt about the above matters was that Lithium Americas had not done any environmental permitting or research and the only information on environmental damage that they had release publicly was that there operation would require a ton of water to operate.
Apart from the buckwheat INR had ticked off all environmental checks in terms of dust, erosion, project footprint. You name it they done it. I cant help but wonder if Trump was tied up in Lithium Americas or his immediate family as just before his departure he pushed through and endorsed the Lithium Americas project......... this was in 2021. At that time I was heavily monitoring and researching the "process" by which you need to go through to get a permit. So I was like, your kidding me right...... They havent done this, this this or this and yet they have been accepted. So in this regard I believe the company trying to do all the right things has been held up now for over 6 years. An a corrupt sleeze bag has pushed his own pocket through just before the end of his term.
Fastforward now to Sayona.
10 February 2023 Investor Presentation
ADDITIONAL OFFTAKE AGREEMENTS PENDING.
Pending is defined as awaiting decision or settlement.
So, yes SYA has lied to its shareholders as the OTA has not came to fruition and the share price has been punish, vote on bonus shares was almost no majority, the CEO has now left.
An to those that state that it could still be PENDING, fast forward 6 months of this supposedly pending offtake and we are now at the 20th July 2023 Noosa Presentation. Same sort of slide outlining NAL:
Notice no mention of offtakes imminent......
But they did add in a lovely future milestone point:
So they are not pending. An it appears to be pushed to the sidelines.
In this day and age credibility of many a company have gone out the window. No one takes ownership of anything anymore, they all point figures and him or her or it. How can we take anyone on their word if they cannot even stand behind what they say and mean it.....
Id have rather SYA management came clean and said hey look, we simply have not had the time to get a offtake agreement off the ground for said reasons, whether this is the difficulty of ramp up, the awkward JV agreement and government connection with SYA limiting potential partners or whatever.
But to find out retrospectively is the worst kind of hurt. Because, well you not only know the outcome isnt what you want, but you come to the realisation you have been lied to.....
I hope management read this, take more accountability and work hard, communicate BETTER with their shareholders. The of all people should know they have a majority retail holding to appease. We arent a company with minority retail and the rest super funds......
Im still a holder by SYA management plainly and simply need to DO BETTER.
(20min delay)