Mt Ida fault is in the news again today with Viking (VKA) increasing tenure by acquisition right next door to Delta (DLI, ~14 mt Li and with gold overlying in the pit)
Current price drop of battery grade Li is reported due to stockpiles and reduced demand for EVs because of interest rate rises. It wont last because miners will not bring new mines on line at reduced profit margin. IMO it is a huge bear trap, and an opportunity for savvy patient holders.
Here is a comment from 'Yahoo Comments'. It makes a huge assumption that Li price will remain low till 2030, which is untenable, but on the other hand it omits likely improved Li Ion battery tech - including the imminent inclusion of silicon in anodes and niobium in cathodes.
Still it does suggest that demand for EV will eventually continue an upward spiral."This dramatic Lithium price drop will help Tesla tremendously in fulfilling its goal at the end of 2030: 20M EVs/yr and 20M SW cloud service customer base as quoted frequently by analysts. It correlates to this news: In 2022 a Tesla Model 3 RWD 60KWh battery cost is $165/KWh X 60 = $9,900, similar to a new ICE engine, in 2025 it will be reduced by 40% to $99/KWh or $5,940. New Tesla battery has 8 years or 120,000 mile warranty. A Youtuber says he drives a 2018 Model 3 for 3 yrs at 130,000 mile and its battery still retains 95% of its capacity, so if he drives another 3yrs to 260,000 mile its battery might still retain 85%, perfectly functional. If the battery for some reason needs to be replaced, then it might costs less than $5,000. This is much less than an ICE engine or transmission, with $4K/yr gasoline saving. Is it life beautiful?"
Not advice, pls DYOR.
