This is from CXO but it does show how weak the Lithium market is...

This is from CXO but it does show how weak the Lithium market is and what will start happening to smaller producers/new mines.
Clearly production will get scaled back by many producers which will help the Spodumene price but the issue is as soon as the price rises so will production so clearly there will be a limit to how much the Spodumene price can recover.

"As previously announced, Core Lithium (ASX:CXO) (Core or the Company) is completing a review of its business activities in the light of the significant decline in spodumene concentrate pricing.
The price of spodumene concentrate has declined more than 85% in the last 12 months, including by 50% since the end of October 2023.
The strategic review1 has examined how the Company is best able to reduce costs and schedule growth projects to preserve business value and optionality. The review has identified a range of actions which will commence immediately. The Company will continue to closely monitor market conditions to ensure mining can recommence should market conditions improve"