Ann: Updated Investor Presentation, page-54

I think their ability to raise money from the market is lithium price dependent. When lithium was soaring towards $80 per kilo LKE made capital raises at 35 and 75 cents. Lithium fell of a cliff and hit a low of $13 per kilo and LKE plunged to 8 cents. Lithium rose to $16 per kilo and LKE to 12 cents. At this point LKE went to the market and raised $15 million at 7 cents, this as is common with capital raises sent the price below the capital raise price. We have to ask ourselves is the company better off now at 6 cents with an extra $15 million than it was when trading at 12 cents. Obviously it is better off now.
A lot of the crash in the lithium price came from a decision of the battery makers to use their months of inventory. They now have close to zero inventory which is a situation where we could see a rapid increase in price. What will a rapid increase in lithium's price do to the LKE share price?
Here's a good discussion on lithium pricing