Oversupply is mathematically impossible. Three mines per year must come online each year for the last three years up until 2025 just to meet demand. No new mines have come online, cxo is the only one to be end of this year. Tesla have signed offtake before the mine is even producing. The existing mines have been spoken for as well as ones not even built. Where is supply coming from? GS and the Morgans are all scammers. EVs are growing 15 to 20% CARG, phones are getting bigger batteries, power tools and appliances all going wireless. Armies are building drones like never before. Alb and Sqm cannot increase production due to lack of water. One year just to build a mine, one year environmental approvals, one year from mine to batteries, one year for validation. All this on top of years of drilling and mapping. They want you to sell at a loss, many will. Those who take advantage of the sell off will benefit. The small amounts of chemicals available (spot) are fought over, hence the high price. Even at the high price, they still make good profit. Anyone with at least a phone is using up the lithium supply.
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Oversupply is mathematically impossible. Three mines per year...
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