ASX Today, page-29169

Wow! Elon up to his old tricks on the Tesla call.

Still saying Lithium supply is not the problem, it is everywhere and implying it is easily got.

The problem, as he sees it, is in the refining capacity.

In response to a question about the outlook on input material costs, Elon said there has already been significant improvement. They noted there has been a crash in carbonate price from 85k/tonne to 25k/tonne, as they expected would occur, and they expect hydroxide price to follow suite. They also said they expect further price falls to come in the next quarter

They implored companies to get into refining, saying they preferred not to do it, and that the only reason they were doing it was because they had no choice. They said a lot of investment was going into upstream supply so that was bringing on more lithium.

They went onto qualify their comments by saying these are very uncertain times and predicting material cost inputs required having a crystal ball.

In my view, they couldn't have been more negative on the miners. It will be interesting to see what affect, if any, his comments has on the miners today.

Either Elon is very smart and getting on board with the Chinese in driving price down or he is poorly researched or ill-advised on the lithium sector imo.

G