todays chart, page-106

Since Piedmont's 20% buy-in to SYA, there is no doubt that SYA is front runner to win NAL bid. They have done the hard yards from a PR perspective in Quebec for 4+ years, they now have the financial backbone of PLL and US investment firms behind them which I believe was a sticking point for Investissiment Quebec. There is also now a direct line to Tesla (via offtake agreement) which would have the Quebecois sitting on the edge of their seats. Furthermore, NAL standalone is useless, as evidenced by the fact it's shut down 3 times in 10 years due to inability to meet production targets.

Sayona has proposed a solution for NAL -> Blend with Authier ore and recovery rates will work. They have also bought up a truckload of tenements at Tansim ~60km from NAL, which is expected to have ~30MT. @Silent-Bubbles has previously posted the combined tonnages of NAL + Authier + Tansim and it was around the 100MT mark which is quite formidable. SB please correct if I'm wrong and in fact do post your analysis again.

So NAL bid was submitted last Friday, and I expect after waiting for CATL to respond for 11 months, this time IQ will make a decision quickly. And if the decision is for SYA bid team to win NAL, then you can guarantee that Authier permitting will be a tick and flick exercise, because there will no longer be a plant requirement given they will be trucking it to NAL. And that is an ideal solution for everyone from both a cost and environmental perspective.

So at 4.6c and 164Mill market cap does the Share price reflect these outcomes. Definitely not IMO. PLL Market cap is 660mill for 20MT as a quick comparison.