To start with, they need to get Mt C sorted. PLS started...

To start with, they need to get Mt C sorted. PLS started producing well after Mt C started and they are completely blowing Mt C out of the water. Mt C is going backwards. Anyone who can read a production report can see that. So Mt C needs to improve on all production numbers - production, costs, recoveries, grades. And they need to do so in a consistent manner across multiple quarters to show that it can be maintained.

Secondly, the market doesn't really know where SDV is at. Are they going do a JV, CR, do it alone, etc. The market doesn't like not knowing what is going on, especially when the unknown keeps getting dragged out. Whatever it is they do, they need to make a decision. AT has already intimated that production is likely 6-12 months delayed as a result of this prolonged decision.

Thirdly, the price of lithium. This is what is affecting all lithium stocks. The price of lithium has tumbled. The market doesn't know what GXY is receiving for 2019 pricing other than it being "notably" lower than 2018. If battery-grade lithium is supposedly in such high demand and there's a shortage of it, why has the price of it gone down by a considerable amount?

These three factors are ultimately going to decide where GXY ends up in the short-medium term, IMO