Macq Bank upgrades $GXY, page-39

@yanlin
Thanks for your observations. Supporting evidence fron MinInvest.

"Demand for lithium carbonate is surging in China, as latest trade statistics point to a sharp uptrend in import prices of the commodity.
China imported 2,474 tonnes of lithium carbonate in April, up 33% year-on-year and 20% month-on-month, while the average import price reached an historical record at $11,552.66/tonne for the month, surging 63% y-o-y and 3% m-o-m."

As you implied, the 2018 contract price GXY will get for its spodumene is going to be way above $648/t.