Considering investing in Sayona shares? Here’s the latest news from the company

What did Sayona Mining announce to the ASX?

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Key points

  • Sayona Mining shares have continued to sink since reaching a multi-year high of 39 cents in April 
  • The company released its investor presentation this week highlighting its progress across its lithium portfolio 
  • Sayona Mining is seeking to supply its first spodumene concentrate to the North American market in 2023 

The Sayona Mining Ltd (ASX: SYA) share price has fallen more than 50% in the past month.

A perfect storm of bearish sentiment across the lithium industry amid a global economic slowdown has impacted the company’s shares.

Despite the doom and gloom, Sayona Mining released its investor presentation yesterday highlighting its strategic direction.

At Wednesday’s market close, the emerging lithium producer’s shares finished 7.14% lower to 13 cents.

What were the key takeaways from the presentation?

While the Sayona Mining share price retraced to levels not seen since March 2022, investors were treated to the company’s growth plans.

In its presentation, management touched on the strategic portfolio of its lithium assets in Quebec, Canada.

The Abitibi and Northern Hubs boast one of the largest combined spodumene resources in North America.

The near-term objective for the company is to supply spodumene to the North American lithium battery supply chain by 2023.

In particular, the Abitibi Hub is targeting production of up to 180,000 tonnes of spodumene concentrate by 2024. This is expected to be ramped up in the following years (2025 – 2026) with nameplate capacity of up to 220,000 tonnes annually.

Furthermore, the Northern Hub has a forecasted nameplate capacity of up to 200,000 tonnes of spodumene concentrate equivalent by 2027.

However, this is dependent upon Sayona Mining developing its refinery operation to support lithium production from the Northern Hub.

The location of the company’s lithium assets in Quebec has many advantages to satisfy the growing demand for battery capacity. This includes being low-cost, having renewable hydropower and an established infrastructure, as well as close proximity to the North American battery market.

Sayona Mining stated that it is targeting end-user customers throughout the EV production chain. This consist of battery manufacturers, auto original equipment manufacturers (OEM), commodity trading houses and more.

Sayona Mining share price snapshot

A turbulent past couple of months on the ASX has led the Sayona Mining share price to reverse its astronomical gains.

Nonetheless, when looking at the past 12 months, its shares are still up 106%.

Sayona Mining commands a market capitalisation of approximately $1.07 billion, with a massive 8.24 billion shares on its books.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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