Post by
MaterialsMan on May 09, 2023 6:01am
Very interesting tidbit
Elon Musk just announced that his Lithium refinery in Texas will be gearing up by the end of '23. He's talking about enough to power a million EVs. My research on the net indicated that he plans to source the Lithium concentrate in North America, specifically Quebec. His new refinery is being built very close to a seaport. It is critical for Tesla to source materials in North America in order for Tesla buyers in the U.S. to obtain the tax credit. No one in North America is close to being ready to supply the quantities that will be required except for one company.
My initial thought was that Sayona was the only potential source for the required concentrate. I know they have a seaport in Trois Riviere right handy. A little further research showed that Sayona is the Sacred Cow. In fact, the research showed that the powers that be are already dealing with the soon to be expected housing crisis in the area that will be home base for the Sayona operation.
This news also explains why Sayona has been grabbing up as much Spudomene bearing ground that they can lay their hands on in that area.
Now, it becomes a matter of how much stock in Sayona can I afford not to buy. Don't let the low SP fool you. There will surely be a reverse split. Take a look at what Piedmont (another Australian player) did to make their SP look more respectable for the U.S. investor. It is a proven strategy. SYAXF also has a very low market cap. Plenty of room to run.