Was still lithium. It wasn't $4.00 but more like $0.50 (there has since been a 5:1 consolidation which also increased the historic price equivalents, so it appears to have hit a top of $2.60s but actually this wasn't the case.)
There were several differences: Higher rates of debt, different assets, different management. Basically an unrecognisable company. The company went quiet when the price of lithium fell to the point where it wasn't worth it to keep running Mount Cattlin and they were still running a converter.
Of course now, the price of lithium and compounds are greater, the Mount Cattlin mine circuits have been upgraded which has increased the output capacity substantially, the life of mine is being extended and the balance sheet has been turned right around.
IMO in order to return to the days of sub-$1.00 from here the price of lithium would need to be a fraction of what it is today to the point where all the competitors would also close, which would hold the lithium price back up.
GXY Price at posting:
$3.04 Sentiment: Buy Disclosure: Held
