Latest Spod Price, page-3

Hardly. I wish you would stop talking about "lithium pricing" - there is no such thing. The chart shows that the low end of spodumene has been flat since December - not falling. So if it it is cliff it must be an ant cliff. In any case saying "lithium pricing" is meaningless. There is no such thing as "lithium pricing". Lithium is not traded in its pure form - partly because it can't be shipped in that state as it is highly combustible. Do you mean DSO, Spodumene, Lithium Hydroxide Lithium Carbonate, or Lithium Chloride, and which grade as they are all used for different things and have widely different supply & demand profiles, pricing and market structures. Then lastly are you talking China or rest of the world. The only prices falling are China Hydroxide and some Spodumene, and that is because carbonate and hydroxide were way over the rest of the world's pricing for ages. Carbonate stabilised a while ago, Chloride is actually going up, Hydroxide looks to still be drifting down a bit. Spod fell a while back, but the low end of the range has been flat for ages and the high end is still dropping, but that is to be expected as the range shouldn't really be much at all - since it is the same product (notionally) just over a range BUT the reality is that 5% - 6% covers a very wide mix of conversion costs, which themselves are falling, so the advantage that 6% had over 5.5% is falling, hence the price range is squeezing. The various china lithiumn chemical spot prices have in reality just simply been equalising to the rest of the world, and only apply to those suppliers without long term agreements - which again is not GXY.

Oh, and for heavens sake please stop quoting SQM, they never get their forecasts right and have a long track record of predicting doom for their competition and have major incentives for scaring off competition, and don't compete with GXY in any case - different sector of the market, and their comments are about hydroxide which GXY doesn't even make.