i believe that's incorrect, cheaper lithium equates to cheaper...

i believe that's incorrect, cheaper lithium equates to cheaper batteries, and at current prices and below lithium will dominate battery chemistries for the medium term due to the existing supply chains and infrastructure investment.

in terms of miners not producing, at current prices there isn't much supply being turned off and even more coming online, so if anything there are some rational drivers that could cause lithium to get even cheaper in the short term.

Countries starting to impose barriers for EVs is a factor slowing adoption, however there's an argument to be made that on a global scale the horse has already bolted and EVs and hybrids will continue to grow market share, and end up 90+% of the market in coming years.

As the lowest cost hard rock producer IGO should be able to ride out this slump, and with FCF and a long life asset, they can self fund either acquisitions of distressed assets or development of future mines. Despite this, given current market dynamics, I wouldn't be surprised if there's more pain before things turn around.