Ann: Suspension from Official Quotation, page-78

Well, yes and no.
High commodity prices allow new players to acquire funding and emerge as producers, grab the market share, etc.

Inevitable price reversal as supply hits the market usually coincides with majors catching up with their own supply.
And they can usually produce cheaper and last a lot longer on low prices.
So it becomes a race to lower production costs and optimizing operations for new entrants.
Which also creates opportunity for majors to acquire assets in distress. That's where ease of financing comes into play. It's important part of investing into cutting cost and optimizing while fending off vultures.
By the time new supply is required, majors will have their expansion plans well underway to meet that demand (in all likelihood)

The lithium prices aren't that low, they are still at historic premium and I wouldn't expect prices to shoot up in med/long term. They are just as likely to be lower as production costs come down.
The name of the game is to have low operating costs and make money that way, not expect price booms to last forever.

Somebody mentioned FMG few times.
When Iron majors caught up with FMG and new miners, few years back:
FMG didn't weather the storm by raising funds and waiting for price increases, it went hard after cost cutting and optimising operational efficiency.
That's the difference between FMG finishing where it did and others that didn't make it.
That's what PLS must do and any future price spike will just mean fat paycheck (like FMG got recently)