Risks to be Discussed, page-471

From Reuters and I quote

"Tianqi said the revision was made because of the impact of the coronavirus outbreak on SQM’s key lithium export markets, such as the United States and Europe, which had been underestimated in February.

It also noted that SQM last month forecast lithium prices would fall further due to oversupply, while a report from consultancy Roskill pointed to a worsening outlook for electric vehicle sales due to the pandemic."

So it appears that COVID-19 has hit lithium producers hard while there is a massive fall in oil usage as well. It certainly seems possible that lithium is currently in the cycle just the same as when Galaxy Resources closed their mine and placed it into care and maintenance in 2013. PLS has unfortunately reported its production at the lower end of guidance this quarter.
Galaxy is also struggling with pricing at this time just above $500/t

It cannot be any more apparent on how detrimental this is to AVZ's ability right now. Chances of moving forward are as slim as it gets.