LTR is about 2 years behind CXO and there will be more lithium...

LTR is about 2 years behind CXO and there will be more lithium producers worldwide pushing to produce lithium and it it is quite possible for lithium prices to stabilise over time. Hence CXO is in an advantageous position being able to take advantage of rising prices by producing early next year.
CXO has a cheap transport cost from mine to port and freight rates from Darwin to China, Korean or Japanese ports would also be cheaper. Freight rates over the last 2 years have sky rocketed and when you add these comparative advantages CXO has over its WA competitors and others, such as South America and Africa, the dollars saved become profits. Hence the current SP is well below what I would expect it to be. These are my thoughts and one should do their own research and analysis.