MLL has a questionable project under the currently depressed lithium market, page-2

Please also note the PFS conceptualize an "operating cash cost" of 374 per t. As you probably know a cash cost is much lower than the actual AISC which includes things like interest, amortization and depreciation of a resource.

I could easily suppose given the amount of debt needed to built this project and the amortization schedule that the AISC could easily climb to A$500 being higher that the price the Aussie producers currently fetch for their spodumene and this is before deducting the ocen going transports costs from Africa to China...