Ann: Orocobre Limited - December 2018 Quarterly Report, page-9

I thought the call was very positive.

Even with soft market prices, ORE's cost of production is as low as any other producer, and should drop further now that the additional pond capacity is available to feed the plant at design capacity, which in turn will reduce cost of production to around $US 3,500 per tonne (and that's for battery grade, not technical grade).

I think the soft market is a reaction to the US-China trade spat, not fundamentals, and the battery market will continue to grow rapidly both for EVs and stationary storage such as the Big Battery.

I found Richard's comment about price elasticity to be interesting: as I understand what he said it is that the spodumene producers are operating on such slim margins there's not a lot of room for them to reduce price and still be profitable. So prices are unlikely to dip any further without putting some of the spodumene miners out of business, while ORE's margins remain very healthy indeed. Remember the small iron ore miners that went out of business following the 2014-5 price crash?