There's still a few hurdles to jump but my concern right now and the sector in general is the over supply of lithium with the corresponding fall in prices.
A piece I read earlier today:
https://news.metal.com/newscontent/102460386/Lithium-Carbonate-Futures-Hit-New-Low-Long-Term-Supply-Pressure-Is-Enormous%C2%A0As opposed to some of the rosier forecasts, this is not encouraging. Probably what we don't want to read, but must be taken onboard.
Goldman Sachs are forecasting lithium carbonate at 11,000 USD for 2024 and 2025. Hydroxide at 12,500 for '24 and '25.
Iirc, JRL's forecasts for lithium (presumably carbonate) were also at 11,000 USD, but I'd need to look back at older releases.
So, current weakness imo, falls to impending approval hurdles, the current uncertainty of the economics of Mcdermitt and general sector weakness based on falling lithium prices and forecasts.
