LRS chart, page-6853

Our aggregate short position is still very small so I don't think this selling is shorts. Today's volume wasn't even significant. Our average daily volume according to Yahoo Finance is ~16m shares.

The selling has been very relentless for more than a week now (the sell side is immediately filled up whenever we drop one pip). Bigger holder selling or just retail holders getting emotional and selling because they feel a bit uncomfortable? Hopefully the latter.

Either way, I don't see any change in fundamentals for LRS. Just non stop drops in Chinese spot pricing every single day.

Sigma achieved $2,488/T for their spod over the most recent quarter. Our PEA was done at a price of ~$1,650/T. You can do the math on how much worse the price of spodumene needs to get before it even touches our PEA assumption levels.

So I'm not sure why people are acting as though these price levels are a problem.

We are amongst the very last lithium deposits in the world who will have a spodumene price problem. Pretty much every single lithium mine in the world would be frozen on care and maintenance before us (for example, CXO, SYA, LTR), all who produce / will produce at an opex of double or more than our PEA forecast..