"As it stands both SYA and PLL have both been trashed, have...

"As it stands both SYA and PLL have both been trashed, have similar MC,s and similar enterprise values"
The current valuation of SYA is assumed that more than half of its NAL concentrates are belong to PLL for the life of the mine. This assumption inflates PLL’s market value. If PLL is considering a merger with SYA, agree to downstream processing in NAL should be a prerequisite for the merge. This would provide a more accurate reflection of their true valuation in market prior to the merge. Following this, it is up to SYA's shareholders to decide where to go. It’s not fair for PLL to use downstream processing as hostage to undervalue SYA and inflate their own valuation before seeking a merge.