Yeah I think the narrative around "Lithium is everywhere"...

Yeah I think the narrative around "Lithium is everywhere" doesn't help. I don't know of any real undercover lithium discoveries, and all the good surface pegs and anomalies have been drilled as far as I'm aware in Oz. Can't discount some more Oz discoveries being made, but the exploration has really dropped off in Oz. Most small caps I was looking at have moved on to Gold and other minerals. No one is spending money on Lithium anymore in Oz. The only deposit of size remaining in Oz that's no owned by a big company is WC8 since AZS was taken out.
Its really the last opportunity for someone like Fortiscue to get into the Lithium market, in a lithium downturn where prices are affordable, with a deposit of sufficient scale for them to be interested. If they miss this, then they need to head overseas to Brazil or Canada.

Still some discoveries being made globally like Q2 metals. But the exploration globally has really dropped off just like Oz.
I think there are a lot of mines in the big bank supply models that will be pushed out if prices stay <$12-18 kg as predicted. While I cant see any huge turn around in the next 1-2 years given the supply coming out of Africa and the brownfields expansions going on, I think things will get really interesting in 2027 as I don't think a lot of the supply from then on is incentivized to be built.
The wildcard is of course China. They may decide to invest ahead of the curve and take losses on Lithium mining so keep the price down for the battery and EV market which is their main play. But its a fine line to tread for them. They do need a functioning and profitable Lithium industry to supply them.

DYOR