Yep, welcome to the cyclical nature of commodities. Supply response has come in both Cobalt and Lithium as a result of higher prices. Cure for higher prices....higher prices. Now prices are getting pushed back down.
The risk now (more so that the scoping study potentially) is getting funding. The lower prices go the harder funding will be to obtain. This is one of the reasons I chose CLA though. Large Sulphide deposit with potentially much lower capex than peers (particularly laterites), non-DRC - I don't have an issue with DRC personally - but it's just so much easier to prove supply chain is ethical if it's sourced elsewhere, low deleterious elements and good logistics for Europe as a market differentiation.
If you can have the advantage of already being in production during the price falls then you are in a position of strength for the next upswing in prices due to low investment in the lulls. Same will go for Li.
Oil is a prime example of how these commodity swings work.
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