This is true but those predictions are based on current demand,...

This is true but those predictions are based on current demand, not future demand. In other words, they're usually a linear projection forwards. What they don't do, is take into account new uses for lithium, things that are being trialled right now, mostly in the battery and storage space, and they also don't account for increasing shifts toward renewables. Okay, we know renewable energy is a dirty word in Australia, but not in the rest of the world.

As far as LRS are concerned, the recent pay rises via share allocations were uncalled for, given that no progress has been reported. You can do that sort of thing if you've just secured a major deal, but not if you're stretching your timelines and are fast running out of cash. One can only assume that something substantial is in the pipelines, and the fact that the new remuneration is share based indicates that the company is not about to go under - unless management are completely brainless and want a class action against them.