Australian (ASX) Stock Market Forum

SYA - Sayona Mining

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Reaccquainted myself with the comings and goings of this company for the first time in a while - and i have to say it looks (prima facie) to be not far off some kind of move.

They are developing a mine in Botswana that will produce a forecast 330,000 carats of diamonds p/a for 10 years from 4 discrete kimberlite pipes. I am not entirely sure of Botswana's Mining Laws - but i'd imagine they are not as onerous as South Africa's BEE requirements (if i was a Socialist i wouldn't be a trader) so this must be an added incentive (if anyone does know - set me straight - on the laws that is!!!). The DFS came up roses (most recent Qtly.) so now all that is needed is the financing package... Directors recently exercised a swag of options as well...

Diamond scratchers are iffy (i should know!!!) - but as they go, this looks like one of the more likely ones (relative to some other laggards... i won't name names... most of us would be able to think of at least 2 or 3... - hint: they have "D" in their ASX codes...).
 
Re: DON - Diamonex

Looks a good bet. Things are starting to hit up with this one. The rumor is funds are almost secured and detail design is under way.
 
Re: DON - Diamonex

I bought this today. It hasnt closed ever at 0.295 so thats where I'll set my stop loss.

I hope this does me well. This stock has been quiet for almost a year now. I hope this is a winner.

JP Morgan got in at 0.31
BNB has one at 0.23 i think
The founder has about 9% too, not huge but at least he has some, unlike some other mining stocks.

go for gold you good thing

CHEN
 
Re: DON - Diamonex

Things are pretty quiet for this one :)

I thought I'd see if anyone holds/has some comments?

http://www.mineweb.com/mineweb/view/mineweb/en/page37?oid=53829&sn=Detail

Following up ~

~ 25% spike today

Anticipation for - [quoted from previous post]

" commissioning phase of the plant began on April 23 and would end on June 26, after which it would produce some 10,000 carats for its first gem sale scheduled for July.

During the current commissioning period, around 30,000 tons of ore would be processed, said the company, with full ramp up of production and plant optimisation from July. "
 
On July 10th, 2013, DiamonEx Limited (DON) changed its name to Sayona Mining Limited (SYA).
 
SYA up 25% this morning after announcing a strategic alliance with Huan Changuan Lico Co Ltd, a subsidiary of Fortune 500 company, Minmetals Group to explore marketing, technical, and financial development options for the Authier lithium project.
 
cash raise at 5.1c with record date as 4may or something. u get to buy 1 for 22 for 5.1c (but with options attached for 2018 or 2019 or something at 7 something c). Obviously I am sketchy on fact here and do not intend to spend time fixing, just getting it out there.

money is to speed up lithium mine in canada......only $60M odd mine cost and pretty short payback time. good part is this is some of the altura management (BOD) so they have great experience as they are just about to hit the go button in W.A. on a similar project. (runs on the board type thing).
 
Sayona Mining is up around 12% today to 4.7c and volume is also up.

Yesterday the company issued a shortfall notice on its recent Renounceable Entitlement Offer at 5.1c to raise $3.9 million. Only 22,484,154 of the approximately 76,959,043 shares were taken up, leaving a shortfall of 54,474,889 shares. Only $1,146,692 out of the $3,900,000 million was raised.

Under the terms of the Rights Issue, the company has the right to place any or all of the remaining shortfall shares within three months after the closing date (i.e. by 24 August 2018) on the same terms as the Rights Issue.

Given that SYA has been trading under 5.1c for all of May it's not really a surprise that there was a shortfall. If you can do better by buying on market then it makes sense to do that instead. Lots of shares still on offer on the sell side under 5c.

big.chart-SYA.gif
 
feasability due now........recent falls post cr have been...more than I expected....so dfs will help decide where the value is.
 
so dfs end of july.......but at least they said so......and reinforced that if this goes over the next few years that share holders will be remembered at the times they will have their hands out for cash (and they will need cash)..........
 
and a little environmental stumble today....so down 17%.........somewhere between 6 weeks and 3 years for this roadblock...........the context here is that any late showing of the dfs matters little now if u cannot a license anyway......
 
Punters exiting SYA left, right and centre. It's fallen through support at 3c (November 2017), so I presume it's heading down towards 2c to bottom out and consolidate there.

big.chart-SYA.gif
 
and another ann today - pretty much the same ann that started the previous dive a couple of days ago but with more words of comfort - and back up 30%+. They are basically feeling some 'green' resistance concerning environmental water stuff.....and almost certainly will introduce delays to approval...if not changes to the mine site area...but time will tell for the latter.
 
SYA came up in todays Risers …. I know nothing about this stock but a quick flick through announcements gets me interested.

As you say @HelloU a small difference in wording can create a substantial difference in trader sentimento_O

There are signs that this could be a good trade over the next few months/couple of years but I will need to do some more research

First impression ..... They are trying to develop a near term Lithium Project in Canada and they actually have around $12 mill cash in the bank!

The Chart says the SP has been belted unceremoniously on minimal volume for some time .. but we now have recent good volume kicking in to stem the flow …. low risk with potential upside … my favourite Spec conditions …. :xyxthumbs Definitely on the Watchlist!!
 
SYA gain in the Top Risers today ….. To be honest I didn't expect it to pop so soon after bouncing off the bottom the other day so wasn't watching closely enough:rolleyes:
SYA 12july2018.jpg
 
today also left me a little bewildered (not complaining).....and I do watch this very closely because it was taking a lot of effort to manage capital since the last cr ......none of the news is new........but sentiment has turned and today (and 2 previous days) was certainly getting 'dragged' up. Be very interesting to see what happens between 5 and 6 (and how long it sits between the 2).
 
SYA still moving along nicely … Chart looks healthy.

Market is expecting an update this month on the completion of the Feasibility Study on their Authier Lithium Project in Quebec.
SYA17july2018.jpg
 
The initial spike in July was Trader based with profit taking between 4 and 5 cents. Todays announcement on a positive Definitive Feasibility Study gives the Company a bit more clout for the future but the day traders haven't gotten too interested this time round.

I'm in at 3.5 cents a couple of days ago with a longer term view ..... Lithium Spec with genuine potential to be mining by the end of 2020 ...… Company only needs even luck to multiply its current market cap over the next few years.
sya 24sep2018.jpg
 
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