Sayona Mining (OTCMKTS:SYAXF) Trading Down 4.1% – Here’s Why

Sayona Mining Limited (OTCMKTS:SYAXF)’s stock price dropped 4.1% on Tuesday . The company traded as low as $6.10 and last traded at $6.50. 13,300 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 14,703 shares. The stock had previously closed at $6.7750.

Sayona Mining Price Performance

The company has a 50 day simple moving average of $6.29 and a 200-day simple moving average of $6.63.

Sayona Mining Company Profile

Sayona Mining Inc (OTCMKTS:SYAXF) is a mineral exploration and development company focused on advancing high-grade lithium projects in North America and Australia. The company’s principal activities include the exploration, evaluation and development of lithium deposits to supply the growing demand for lithium-ion batteries in electric vehicles and energy storage systems. Sayona aims to establish a vertically integrated supply chain for lithium concentrate production and downstream processing.

In Canada, Sayona Mining controls several key projects in the province of Quebec, including the fully permitted Authier Lithium Project and the Moblan Lithium Project near the James Bay region.