Ann: December 2022 Quarterly Activities Report, page-341

No cartel needed although the thought crossed my mind too. Yes there will be a slow and steady pull back as more production comes online but we are talking a percentage point here and there, not a collapse as GS seems to suggest. I believe most mines will mines will miss their production dates by a country mile so that should insulate existing producers. But the bottom line is demand will continue to outpace supply for at least the next decade. I think the main reason the average price will come down is purely because newer mines will sell at a discount to peak price to ensure offtake of their resources. Just my opinion DYOR