I don't know when shorters will leave, but they are losing money...

I don't know when shorters will leave, but they are losing money even if LKE SP just goes sideways.
At 20% lending fee e.g., shorters lose 20% of their investment per year, even if LKE price goes sideways.
So time is working against the shorters.
At the same time, LKE shareholders don't pay this fee.

I think that the DFS will be a quite strong nail in the coffin of shorting LKE.
At DFS stage, LKE SP should be about 50% of the Kachi project NPV. And I'm not even counting what could be if results will arrive from the Cauchari, Olaroz and Paso projects.

E.g. if the Kachi NPV will be A$10 billion, of which Lilac might get 25%, leaving A$7.5 billion for LKE, then LKE MC should be around A$3.75 billion at that point.

Shorters can't hold the SP down forever if LKE will keep on ticking the boxes.

The other big milestone will be when Kachi will produce lithium carbonate. At US$60k LCE price e.g., and at 50 ktpa, LKE's revenue would be about US$2.25 billion per year, or about US$2 billion EBITDA per year. With a 12 P/EBITDA ratio that would give a MC of US$24 billion, or A$36 billion at 1.5 USDAUD rate, and a SP of about A$20, assuming 1.8 billion SOI.

Amd this is for Kachi alone.

The other 3 projects can easily double this value if they will be able to produce another 50 ktpa, the 3 other projects together. Especially if LKE will own more than 75% of them.

All imho, dyor, etc, etc.