I guess probably those sophisticated investors and/or Blue Ocean...

I guess probably those sophisticated investors and/or Blue Ocean clients took profit.
Compared with peers especially Chinese companies, valuation on PLS is currently very attractive.
According to my research, China imported 90% spodumene, currently around 80% from Talison by Tianqi.
Tianqi only used one third of spodumene to produce battery grade lithium. Talison/Greenbushes lithium spodumene is allocated between Tianqi and its partner although Tianqi gets majority production.

China seem have "huge" brine resources, and hard rock deposits, but most of them either hard to extract or low grade. Chinese subside Chinese electric vehicle mufacturers and green light for the buyers. And they are starting using electric cars on public transport and taxi etc, and local governments are putting more charging stations.

Germany also start subsiding electric vehicle buyers from this month, 4,000 euro per car for 1.2b euro.