But analysts have warned that the beaten-down lithium shares still look expensive, with UBS estimating that equities are pricing in spodumene at around $US1200 to $US1480 a tonne, which is well above spot prices.
...exactly, even updated models continue to assume higher Spod pricing for 2025 at those levels, yet LTR won't be cashflow positive for 2025 despite going into production, while PLS still valued at circa 40x with Spod price at US$1400.
...best to steer clear when the combination of shorts and reduced longs continue to depress ASX lithium majors in mean reversion process.
