SYA 0.00% 2.7¢ sayona mining limited

Itabela Project - pushed back twice, third time the lucky?

  1. 232 Posts.
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    Today SYA announced the expiry of the December 18, 2015, deal to acquire Itabela Graphite Project in Brazil. The Company is negotiating a new agreement to extend and re- structure the deal.

    This raises a couple of questions:
    1. Is the renegotiation happening because the Itabela project was not as good as expected and SYA is trying to push the price down? We know that the preliminary test results were outstanding.
    2. Did SYA not exercise its purchase option because it failed to secure funding? We know that the company has less $ 500k in the bank.
    3. Seeing that SYA is pushing this back for a second time, how long must shareholders wait while SYA insists on a deal that seems hard to materialize?

    One thing is certain, it is very good that SYA has promising lithium assets like Authier Project because those can offsets any downside of the graphite assets (or "assets wannabes").
 
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