Macca,
EUR has a contract with BMW for all the Wolfsburg product, and it will not be sold as spodumene alpha, but processed to Lithium Hydroxide in the JV with Obeikan.
Current prices are severely depressed by the Chinese trying to keep new players from entering the market which they control. Tianqi Lithium here in Kwinana is hoping to get up to 50% of nameplate production (after years of trying), but everyone I talk to has no idea when it will be done. So new players are delayed like Tianqi and Albemarle and the Wesfarmers Covalent project has a big problem with their constructor.
So the real issue will be lack of supply of Hydroxide for EV batteries; the EV market is exploding, particularly in China.
Like someone said to me the other day, the price of steel is so depressed. Well with an Iron price of U$140 per tonne....how can a Chinese fabricator sell for so low.....easy...huge subsidies, but at Xi has found out, China needs to fire up their economy and that can only mean much higher prices. You can read the exact same into Lithium.
Personally, if a Lithium company has a clear route to a proven hydroxide end product, with the current share prices taking a beating, now is a great time to buy in a counter move. That goes for EUR and anyone else well down the path.