@Petrj
Between now and 2026 when LRS first produces, the only mine that is likely to come online is LTR (next year) - someone correct me if I've missed one (I've excluded LLL given it's unclear what is happening there). Obviously some existing mines will increase production rates but that new supply will only go so far over time.
The following current stocks will not produce anything before 2027:
AZS, WC8, TG6, DLI, PMT, WR1
GL1 could theoretically produce in 2026, but it's not clear if their Manna deposit is even economic at current (or lower) prices, given they used a $2,500/T price in their scoping study, and have an AISC of $1,305/T. Once you include their $430m capex bill, does anyone really want to take Manna to production?
LRS is one of the only deposits that can still make money at the spod price Goldman Sachs predicted today ($1,000/T).
@ $1,000/T spod pricing LTR won't be in operation, neither will SYA, CXO is also borderline at those prices too.
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Ann: Another Significant Spodumene Discovery at Salinas, page-81
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