I wouldn't be surprised to see the market keeping pace with...

I wouldn't be surprised to see the market keeping pace with whichever company is performing the best both short and mid term. The reason I say that is because if one company was seen to be marginally better than the other it would likely still be enough to concentrate the market share into one place, resulting in undervaluing one stock and potentially overvaluing the other. Eventually the long term performer you would think would be the best one to hold but if you are a company with great long term prospects wouldn't you want to keep market share all the way through? So until there is a clear established margin I would say that the prices across the board will be in lock step and held that way by the insto investors.

Long term is a bit different because at some point the confidence in the data will reach a critical level and the market can price accordingly.

At the moment there is a lot of speculation which is why I think the market will move together.

Short term obviously GXY is the only one producing. But PLS I think will be keeping step to retain market share with anticipation that Pily will outproduce Mt Cattlin if/when it gets up and running.

Medium term IF Pily does get going AND it happens to outperform Mt Cattlin AND James Bay doesn't get going then PLS will probably be the better performer but GXY will probably keep step with anticipation that the combination of James Bay and Mt Cattlin and Sal De Vida would be superior longer term.

Long term I think GXY has a better combination of assets and has less risk because the industry ultimately uses lithium carbonate as a feedstock and GXYs assets diversify into this as well as spodumene.

Usual disclaimers: this is not professional advice, dyor.

GLTA