Post by
trader53 on Jun 20, 2024 5:07pm
Sorry about the grammar!
Unfortunately, Spodumene dropped below a $1000 a ton to $955.00 today. Fear struck the sector as we watched Albermarle drop almost 10% and PMET dropped 5.25% closing at $5.48. The juniors finished in the red as well. I am thankful that PWM has an LCT deposit with a trifecta of payable minerals as straight-line lithium deposits will be economically challenged at these levels. We are bumping up against the 2024 lows so all will be watching carefully whether we bounce or drop to new yearly lows. Bear markets are unpredictable and often surprise to the downside, but we also know that Producers have the option of cutting production as a means of attempting to create a floor under the price. If we break to new lows support can be found at $899 and below that $854. For PWM it looks like it's all going to be about the Cesium for now! As Chris Evans said the lithium on Case Lake is the sleeper right now and the cesium is getting a lot of attention and just keeps getting hotter.
Comment by
Chiefmombo on Jun 20, 2024 6:21pm
Thanks trader, is cesium losing value too?
Comment by
trader53 on Jun 20, 2024 6:40pm
The great news is cesium demand is growing at 6% per year and there are no producing cesium mines on the planet. Lets hope that PWM changes that.