Sayona Mining Ltd (ASX: SYA) shares are taking yet another dive on Tuesday, down 16% to a new 52-week low of 13 cents per share.
Yesterday, the lithium miner was one of the top 10 most traded ASX 200 stocks, rising 3.45% to 15 cents.
There is no official news from Sayona Mining, so it's unclear what has prompted today's share price fall.
A contributing factor could be the weak lithium carbonate price, which has fallen below US$36,750 per tonne this month, the lowest level in more than two months.
Image source: Getty Images
How are Sayona Mining shares comparing to their peers today?
It's a mixed-bag performance among ASX lithium shares today.
Sayona Mining is not the biggest faller in the group.
That dubious honour goes to Lake Resources N.L. (ASX: LKE) shares, down 20% to 18 cents apiece.
Core Lithium Ltd (ASX: CXO) shares are down 9.3% to 61 cents, IGO Ltd (ASX: IGO) shares are down 4.7% to $13.45, and Allkem Ltd (ASX: AKE) shares are down 3% to $14.43.
The outlier is Pilbara Minerals Ltd (ASX: PLS) shares, up 10.55% to $5.35.
What's the latest news from Sayona?
Sayona Mining has had some exciting news for shares investors of late.
Last week, it announced its first revenue and shipment of lithium from its flagship North American Lithium (NAL) Project.
Approximately 20,500 tonnes of lithium spodumene concentrate has set sail to an international buyer.
Sayona Mining shares initially went up 3.3% on the news but finished the session flat.
The next few shipments will leave port this month and next month.
Those shipments are going to Sayona's joint venture partner in NAL, Piedmont Lithium Inc (ASX: PLL), under their pre-existing offtake agreement.
Also last week, Sayona Mining reported a record quarter for production in June.
Sayona had a full quarter of operations in June after restarting 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% on the day.
What goes up keeps coming back down for Sayona
It's sure been a topsy-turvy ride for Sayona Mining shares investors of late.
Here's a snapshot of the miner's performance over the past three months.
