I understand what you're saying, but GXY operates within a global economy with manufactures & consumers.
Australian wage growth has slowed dramatically along with low consumer confidence, high debt levels & a bursting housing bubble. People caught up in that mess don't exactly go out & buy $60,000 Tesla's. They buy a $4,000 petrol run-about to get them out of trouble.
When GXY shipped their first spod house prices in Sydney were growing at 5%, 6% 10% plus. The RBA cut interests again today for the second month in a row & house prices are tumbling.
The Global LIT index is down. You can't expect GXY to buck the trend when most of the global Lithium sector is taking a hit.
I believe the US is already in recession.
Trade wars.
Brexit fears
The beating of war drums with Iran & North Korea in the past.
All affect commodity prices, consumer spending & wage growth.
If the price of oil was sitting at $300 a barrel & we were all paying $6 a litre for fuel, everyone would be demanding electric cars. Oil is still relatively cheap & so are petrol cars. It's going to take time for electric cars to take off. In the meantime, I will accumulated GXY at cheap prices.
