Ann: FY23 Full-year results presentation, page-189

Understand completely, but what's the catalyst for a significant drop in spod? Electric vehicles aren't going anywhere, I dont think there's an argument for a drop in demand (although a short term drop in demand could be there due to China economic issues), is there a gloat of supply coming on? I don't think so, and again any increase in supply will be offset by ongoing demand continuing to increase.
Perhaps a technological change? But that's completely speculative.
The point stands, I don't think anyone knows where spod prices are in 6, 12 or 60 months, but I cant see an argument for a long term significant drop in price, it's hard to imagine that. Keep in mind P1000 output in the pipeline aswell, an argument is a signiciant spod price drop (or crash) puts us at a forward PE of 10-15, if it stays relatively in line with current prices, we are probably on a forward PE of about 4 right now.