Ann: Mt Cattlin Shipment Update, page-197

Of course there are no guarantees that every lithium company will do well or survive at the bottom of a cycle. I got mocked plenty for suggesting that you don't just invest in every mine hoping they will all survive.
Everyone has their own criteria for picking which companies are most likely to weather the storm. Spodumene pricing can only fall so far. There comes a point where producers won't operate or go bust. That is the actual price floor and we are very close to it IMHO.