You can be pessimistic if you want but I see far more upside...

You can be pessimistic if you want but I see far more upside than downside from here.

I won't be trying to pick the bottom either. I'll leave that to those far more expert than me.
What I will do is look a the whole thing in the rearar vision mirror 2 years from now.
HC is all about trading, not what the gorillas, the fund managers, are about. They know better.

For instance, they know that in this shakeout the weak speculative will get iced and the big boys will get stronger benefiting from the exploration money thrown at the sector when frothy.

At present, there are those laughing at people like Gina Rinehart's foray into Li. However, we know who will still be standing as part of the gorilla group. To me it's a bit like having BHP. Only I don't want iron ore. Li & Cu is what like (form here) and then Cu above Li. The Ni will be fine.
The whole thing is reflected in Broker's average recommendation for buy or hold on IGO. There are very few sell calls.

All IMVHO.