Agree GGG, were are all on the same team.If you listen to the...

Agree GGG, were are all on the same team.
If you listen to the industry experts, history tells them we will all be wrong on price prediction.
I am drawing from recent history which saw Chinese lepedolite supply expanding and chemical plant margins being squeezed above 4k/tonne. At some point high prices become counter productive for us. I'm looking for the "goldilocks" price zone which incentivises new supply but allows OEMs to prosper and the energy transition to occur in a timely manner. Having said that, I'm not certain what the "goldilocks" price zone for lithium is yet. Recent history says it's 3-4k/tonne, but it could be a little higher in the future.
I see AVZ are now taking the DRC government to court. I doubt we'll see any of those tonnes hitting the market this decade. I wonder if those tonnes were in Goldman's supply figures? We seem to be in a very good window for supply for the rest of this decade at least. By then we'll hopefully be into downstream chemical production.
PLS have the jump on us and are several years ahead of us which is why I think they stay ahead of us in MCap. We might produce a superior product and we will earn a premium but we will be producing less tonnes. We have better offtakes but I don't think we get anymore for that unless Chinese start restricting supply. It is very nice insurance though and does give us many options going downstream given the IRA. I think we'll trade on a slightly higher PE to PLS given this insurance.
The real re-rate will be if the market starts pricing in the long term earnings of hard rock producers and we all start trading on higher PE multiples. Chemical producers trade off much higher multiples but it appears hard rock producers deserve some of that given the power has shifted more upstream than in the past. As Chris Ellison said, "He who owns the rock is God".
G