Ann: Quarterly Activities Report and Appendix 5B, page-17

Using the standard definition of a bear market being a 20% fall from recent high's, there was a short bear market from early 2023. PLS for example got back to $5.41 in Aug 2023 but was down 20% from this by Sep 2023. Using PLS as the proxy, the bear market is now 10 months old.

From Google the average bear market length is 289 days so this bear market is already at an over-average length.

From google, the average bear market fall is 36% but a heap of lithium names are down 50-70+% this year alone. The lithium bear decline has already massively exceeded normal bear market falls.

This isn't to say the bear market declines won't get worse, but there is a heap of bad news banked into current pricing already.