How much Sayona (ASX:SYA) has gained in last 6 months? Kalkine shares details

August 30, 2022 11:33 AM AEST | By Khushboo Joshi

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How much Sayona (ASX:SYA) has gained in last 6 months? Kalkine shares details — Image source: © Milslav78 | Megapixl.com

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Highlights:

Mining giant Sayona, has gained more than 100% in six months on ASX.

The company currently has many ongoing gold and lithium exploration projects in Canada and Western Australia.

Sayona has been expanding its operations while collaborating with different other big mining companies in Australia.

Lithium producer Sayona Mining Limited (ASX:SYA) has gained a whopping 103.85% in past six months on ASX and it has appreciated by 39.47% in its value in last one month. However, in last five trading days, Sayona’s stock has come down 7.02%. On Monday (29 August 2022), Sayona backtracked, losing up to 5.36% towards the closing, as a broader sell-off likely weighed down the stock.

Sayona shares, on Tuesday (30 August 2022), were spotted trading at AU$0.272 per share, up 2.830% at 10:51 AM AEST on ASX.

What is the reason behind Sayona’s share price surge?

There could be more than one reasons behind the price surge of Sayona’s shares.

Sayona has some significant projects in Quebec, Canada and Western Australia under its possession. Along with Piedmont Lithium Inc. (ASX:PLL), the company owns North American Lithium, a lithium mine and concentrator.
The mining giant has plans to integrate its existing North American Lithium mine with Authier Lithium Project and coming-up Tansim Lithium Project in order to create a state-of-the-art Abitibi lithium hub.
The company has also acquired 60% stake in Moblan Lithium Project in Canada and has vowed to manufacture good-quality lithium to supply to the battery and electric vehicles market of America.
In Western Australia, Sayona possesses a huge tenement portfolio in the Pilbara region that has potential for gold and lithium. Sayona has been exploring for Hemi-style gold targets in the Pilbara whereas its lithium projects are subject to an earn-in deal with Altura Mining Limited.
On 4 August 2022, the company announced that restart of operations in North American Lithium has picked up the pace. Around 30% of plant and equipment upgrade are now done and magnetic separator and crusher have arrived.
The project, as per Sayona, is on track to deliver first lithium spodumene concentrate production in first quarter of 2023. This is in line with the government’s plan to create a 100% local battery supply chain.

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