Ann: Diggers and Dealers Presentation - Manna Project Update, page-6

lithium carbonate is traded around 80000 Chinese yuan at the moment, many analyst predict the future is highly likely to reach 60000 (September this year) before a rebound, since they haven’t seen the production stop from many major lithium producers.
Still in an oversupplied market, and Chinese government might want to keep low metal prices as long as they can money from the EV value chain. Even we see a rebound, the price will be still traded below 80000-100000 Chinese yuan.
The biggest producer (GanFeng) asked for shareholder approval for price hedging at the end of last month, market thinks their stocks are too high and will stand on the short side in the future market - that’s the reason for big price drop last month.
So only the premium resource can survive and management needs to tell us the cost in the DFS and tell us if the company would be able to make money even with current lithium price.