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If prices go below $680/t then probably going to be some serious price destruction out there.

GXY cash margin was only $288/t, they are were still under their $940/t agreement, so that puts their cash costs at $652/t thats cash costs not AISC.

They were down $20million for the quarter for this that and the other, how much money they made if any unclear.

Their new prices will kick in from the next quarter, the conference call said expect their current higher costs to carry over into this current quarter, so they might already be water already at these current prices.

ORE are another who claim to have low low cash costs, but prior to the new tax they are dealing with the made $1million NPAT last financial year on $12k/t carbonate pricing, their cash balance is also ever shrinking, any small reprice downwards for them would see profitability gone.

A40/AJM/PLS despite all having studies done showing profitability by now not one of them has shown it yet, A40 and the "cash flow positive" AJM are yet to report.

So yes prices may fall further, but if they do their will be more than one mine closure and a quick realization that you better cough up if you want product to make them cars.