Sayona Mining Ltd (ASX: SYA) shares dipped 22.22% in the month of July, so you can bet shareholders are hoping for a better performance in August.
And it's possible the lithium miner could achieve that after its "significant milestone" event this week.
Sayona Mining shares are currently fetching 14 cents per share, down 3.3% today.
This matches the new 52-week low Sayona recorded last Friday.
Let's take a look at the latest news from Sayona and what's expected in August.
Big week of news for Sayona Mining shares
In case you missed it, Sayona Mining announced its first revenue and first shipment of lithium on Wednesday.
Approximately 20,500 tonnes of lithium spodumene concentrate from Sayona's flagship North American Lithium (NAL) is now on its way via ship to an international buyer.
In its statement, Sayona did not name its customer but said the deal was done with "a major trading company".
The company added that the revenue will deliver "important cash flow to NAL as it ramps up operations".
Sayona Mining shares initially ascended 3.3% on the day of the news but finished the session flat.
Also this week, Sayona reported a record quarter for production in June, as we covered.
Sayona had a full quarter of operations in June after the successful restart of its concentrator in the March quarter.
The miner doubled its ore mining production to 227,171 tonnes, up 104% quarter-over-quarter (qoq).
It produced spodumene concentrate of 29,610 tonnes, up 744% qoq.
The news pushed Sayona Mining shares up 14.3%, but the stock failed to hold this surge over the week.
Next shipment ready to leave port
Sayona Mining told investors this week that its next shipment is ready to go this month.
The next few shipments totalling 30,000 metric tonnes are going to Sayona's joint venture partner in NAL, Piedmont Lithium Inc (ASX: PPL), under their offtake agreement.
The shipments are expected to leave port this month and next month, subject to shipping availability.
What's happening with lithium prices?
As is the case with all ASX lithium shares, weak lithium prices are a continuing headwind for Sayona Mining.
The battery-grade lithium carbonate price is US$36,755.44 on Friday.
This is 57% higher than where it was in April when it reached a trough of US$23,400.
But it's a substantial tumble from the record high of almost US$85,000 seen in November last year.
My colleague Mitch offers an insight on how to pick the best ASX lithium shares now 'those frenzied days are over'.
