Ann: Corporate Presentation RIU Sydney, page-18

According to Trading Economics, Lithium Carbonate reached 597.5k on 7 Nov 2022. Other sources also noted near 600k prices around that time (or as hydroxide >US$80k/t and as SC6 $8,000ish). By 8 Jan 2024 Lithium Carbonate was down to 95.5kt for a fall from peak to what all lithium investors hope is the bottom as a fall of 84%.

There's been enough price sensitive company announcements by Delta that you don't see a close correlation between the share price and the Lithium Carbonate price below but it was a key factor pulling down the price of lithium companies and therefore any sort of peer comparison valuation. Some others have tracked more closely to lithium price movements. There are however now signs emerging of more selective valuation approaches than the lithium price is down (or flat), the share price must go down (or remain flat).