Ann: Trading Halt, page-194

dude just think about the sweetheart deal a crappy project like FL's PAK got with Mitsubishi with lithium prices in the crater.

Everyone knows spod prices are forecast to be significantly higher towards end of decade.

Everyone knows viable uncommitted large-scale North American spod projects are rare.

Everyone knows the scale of battery plant investments that have already been made or are committed and planned, particularly in Quebec and Ontario, and the (imo) ridiculous subsidies and tax credits given to these parties.

Everyone knows they would prefer local, high ESG spod supply.

Everyone knows there is a geopolitical premium for Japanese and Koreans to diversify away from China.

So ability to fund WR1 into production (esp with the low capital intensity required due to Renard) isn't about what China has temporarily done to spot and futures pricing in the short term. (That they have done it, though, means fewer projects coming online and a healthier pricing environment in the medium term.)