$SNNAF is ready to change direction IMO. The have lots of cash in the bank, work programs starting and marketing starting soon. There are some huge catalysts coming in the area which to me make the upside much better than the past performance would suggest. First, Pure Energy has been trading unbelievably well over the last couple months. They have been working on a DLE plant to extract lithium from the brine aquifer located in the valley. It is the same brine that Albemarle has harvested for about 60 years but will be much more efficient. Sienna's Lithium Brine project is located in the middle of Pure Energy's claims and by their maps, actually sit in the deepest part of the basin. I expect Sienna will finally work on this project once the refinery announces they are operational. SLB has stated in an article on Reuters that they have been in communication with at least 10 companies in the area to utilize the refinery so it may operate close to capacity. Looking at area maps, there are only a few companies in the brine where it could be advantageous to have a well and IMO, Sienna is a prime candidate. I expect catalysts to come one we see news on that refinery.
Without the DLE catalyst, Sienna has a large footprint to work on this summer and has said they would be doing multiple work programs in Clayton Valley this year. They have permits to drill on the Blue Clay project and just completed the acquisition on the Silver Peak South Project. Since they currently are well financed I expect we will see news in the next 30 days regarding work going ahead on one or possibly both these projects. This is all speculative but they have stated they plan to work in Clayton Valley and that is the projects they have there. Since News and Marketing are what move these stocks I am picking up shares for the news. I see low down side risk and a lot that can move it up.
Bullish
