Wood and Mack did LKE’s DFS just 1 month ago and projected battery grade carbonate at approx 50% higher than todays price by 2025 ($20,564/t).
So 1 month ago they suggested 50% higher, now 1 month later they’re saying SC6 prices will simply stay where they currently are for years on end.
Both can’t be true.
Forecasters have no clue when it comes to pricing lithium. The IBs have been spectacularly wrong, as has Joe Lowry and Howard Klein.
If we pretend that Wood Mack’s price forecast ends up being correct, it would mean that most Aus hard rock development projects won’t get funding. But we know most supply forecasts assume every single current JORC deposit will be developed. As an example, GL1 is going nowhere at $950/t.
Ann: Project and Funding Update, page-548
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