Lithium: The lithium space suffered some share price indigestion...

Lithium:
The lithium space suffered some share price indigestion during the week in response to some big name investment banks reading too much into a one day fall in an obscure futures contract in China.
They were put straight later in the week by both Mineral Resources (MIN) and Pilbara (PLS). Think of it as real world experience versus desktop analysis.
MIN’s straight-talking boss Chris Ellison told the group’s AGM that all we need to know is that there is “way more demand than supply”.
The following comments by Ellison were reported by *’s Josh Chiat:
“You read in the paper now and then someone coughed up in China the other day, and the market dropped 5% which is amazing, I hope the audience bought shares in us,” he said.
“We get the odd commentary out in the market. Goldman Sachs seemed to have a thing about getting it right one day and I’m sure in the next 30 years, one of the years they’ll be right.’’
And then there was the news from Pilbara that the latest auction of spodumene on its BMX platform had gone off at a record $US7,805/t (5.5% lithia). The first sale on the platform in July last year was $US1,250/t.