Yes, there is a massive oversupply so that's why there is a significant increase in lithium miners staking their claim of the pie all over WA and including LPM and RAS scrounging around CXO in the NT....anyone who believes that may believe pigs could fly, lol.
CXO is mirroring PLS in the early stage of production and if you believe the shorter's narrative and not consider history then you have lost the game already.
Getting to production is tough and not many will ever get there. CXO is fine tuning its production and will still be making hundreds of millions whilst others are still staking their claim. One of the other narrative is that CXO's lithium concentration is crap...interesting that Yahua is fine with a minimum of 4.5% and Ganfeng as well...currently at 5% and rising is hardly crap!
CXO experience will allow BP33 to be fast tracked to production, like what Min Res has been doing, which will be perfectly timed with the rise in lithium prices which is inevitable. Remember the next stage in lithium battery is solid state battery which actually requires more lithium!
The current SP is unbelievably cheap IMO, given CXO is one of only a hand full of producers, has 200M in cash, no debt and already earning millions in revenue...I guess CXO is disappointing from a day trading perspective but long term buy at these proces is almost irresistible!
Tell me that is not worth at least a billion!
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