Simon

Resources Investor
I am not a licenced financial advisor and what I say should not be considered financial advice. My tweets are my opinions. DYOR

[Energy Transition Investor @usuallyYJLee]

I've been getting questions on the #lithium price pullback and market balance.. so here are some broad thoughts and analyses:

Demand:
- Iran war is massively stimulating switch to EVs. EV sales +90-160% in many countries YoY Apr 2026. Last year's headlines were doom & gloom about "slowing EV sales". In reality, BEVs+PHEVs were 20.7m units, pretty healthy. This year I forecast a re-acceleration in EV sales - lithium use +210kt LCE YoY.
- BESS growth is pretty insane. Last year installations/shipments were ~320/500GWh. This year it's looking like ~500/850GWh. FYI 850GWh --> ~600kt LCE used in those cells so this segment alone might consume 30% of lithium supply this year.
- E-Trucks: Grew 180% (!!) YoY in China last year. More broadly, the Class 4-8 segment represented 5% (86kt LCE) of lithium supply last year and it's just starting to go up the steep part of the S-curve globally. If your analyst doesn't have this in his model, he's missing 150kt LCE use this year.
- Overall, global lithium demand grows from 1.5Mt last year to 2.0Mt in 2026, a 500kt LCE jump.

Supply:
- Mine restarts: To this year's supply, Bald Hill adds 8kt LCE. Ngungajoo adds 10kt. Finniss adds 10kt. Small-ish vs the demand growth.
- Mt Holland "doubling capacity": Won't happen until 2028.
- CATL Jianxiawo mine: Even if it turned on today, it'd produce only 30kt this year. Less considering ramp-up. And there's a cow or two to relocate if recent videos are to be believed. 😉
- Supply growth has been severely constrained in the last two years as companies could not get financing, or built slower. This WILL be felt in 2026 and 2027.

Market Balance:
- I see a deficit this year growing to 2030. Much of this is based off BESS growth to 1.76TWh (+17% from my prev forecast) as countries realize they want to reduce natural gas imports dependence. I'm also pounding the table on E-Trucks here. Watch this space.
- I respect Benchmark's gutsy call for a 2027 surplus. I disagree though. They have been pretty conservative on demand forecasts and I think this year will surprise many analysts.

[Jay Roberge 🚀 @jmroberge]

Large corrections are not inconsistent with secular bull markets. Historically, they have often been prerequisites for the next major advance. #Gold #Silver

[Q2 Metals - Cisco Lithium Project @Q2Metals]

📣 NEWS 📣

Q2 Metals Reports Multiple Wide Intercepts, Including 264.6 Metres at 1.84% Li2O and 152.9 Metres at 1.59% Li2O in Drill Hole 71 at the Cisco Lithium Project in Quebec, Canada $QTWO.V $QUEXF

📰Read the full press release 👇: https://t.co/uiqll8gAdg

[Christopher Williams @zempheth]

$QTWO pick your comp, pick your target
#inefficientmarkethypothesis

[Q2 Metals - Cisco Lithium Project @Q2Metals]

💥Q2 Metals Announces Closing of C$70 Million Private Placement of Common Shares and Flow-Through Shares $QTWO $QTWO.V $QUEXF #THECiscoLithiumProject

Read the full press release here 👉: https://t.co/k4oxksmSYD

[JaseMcB @JaseMcB22]

An investor sent me this today and it’s too good not to share. $QTWO.V $QUEXF @Q2Metals #THECiscoLithiumProject

[Jody Dahrouge @JodyDahrouge]

A heartfelt take by Steve and Tony on how the Cisco Project was discovered; a must watch of two of Quebecs best treasure hunters! Passionate about exploration and the roller coaster ride it can send you on.

#Lithium #Spodumene $QTWO

[Q2 Metals - Cisco Lithium Project @Q2Metals]

🧠You know the Cisco Lithium Project discovery.

👀 You’ve seen the recently announced inferred MRE defining a deposit of 295 Mt grading 1.36% Li₂O. $QTWO.V $QUEXF

Now hear the origin story from Tony Perron & Steve Labranche of Canadian Mining House👇: https://t.co/BRlTgp2iEk

[Q2 Metals - Cisco Lithium Project @Q2Metals]

The @Q2Metals team is looking forward to attending @THEMiningEvent this year. $QTWO $QTWO.V $QUEXF

📍 Quebec City
📆 June 2-4, 2026

We look forward to presenting the Cisco Lithium Project to investors and industry leaders.

Learn more & register here: https://t.co/Lntm9UyokY

[Jay Roberge 🚀 @jmroberge]

Elon Musk’s view that “the future currency is wattage” is increasingly reflected in global markets.

As the world races toward electrification, #AI infrastructure, robotics, energy storage and grid expansion, markets are beginning to reprice the metals that enable electric power itself: #copper, #silver, #uranium, #lithium et al

This is no longer just a commodity cycle. It is a strategic revaluation of the materials required to power the next industrial era. 🚀

[Mining.com.au @miningcomau]

⛏️ Mining Insiders: YJ Lee, Director and Fund Manager of Arcane Capital — which runs Singapore’s first green metal fund — explains why copper and silver are entering sustained supply shortfalls, how geopolitical shocks have accelerated the shift away from fossil fuels, and where the next wave of demand for critical minerals will come from.

🔗 Read more here: https://t.co/7V9Gkw6jhz

#miningnews #asx #exploration #drilling #resources #mining

[Lithium Price Bot @LithiumPriceBot]

May 11, 2026

#Lithium Carbonate 99.5% Min China Spot

Price: $28,594.65
1 day: $+183.06 (+0.64%) 📈
YTD: +69.15%

#Spodumene Concentrate (6%, CIF China)

Price: $2,846.00
1 day: $+54.00 (+1.93%) 📈
YTD: +83.85%

Sponsored by @LibraEnergyMats

[Q2 Metals - Cisco Lithium Project @Q2Metals]

🗣️The Q2 Metals team is excited to participate in Canaccord Genuity’s 5th Annual Global Metals and Mining Conference.

📍Henderson, Nevada
🗓️May 19-21, 2026.

📱To attend, please contact your CG representative.

[Lithium Price Bot @LithiumPriceBot]

May 08, 2026

#Lithium Carbonate 99.5% Min China Spot

Price: $28,411.59
1 day: $+512.58 (+1.84%) 📈
YTD: +68.06%

#Spodumene Concentrate (6%, CIF China)

Price: $2,792.00
1 day: $+40.00 (+1.45%) 📈
YTD: +80.36%

Sponsored by @LibraEnergyMats

[Lithium Price Bot @LithiumPriceBot]

May 07, 2026

#Lithium Carbonate 99.5% Min China Spot

Price: $27,911.27
1 day: $+439.55 (+1.60%) 📈
YTD: +65.10%

#Spodumene Concentrate (6%, CIF China)

Price: $2,752.00
1 day: $+22.00 (+0.81%) 📈
YTD: +77.78%

Sponsored by @LibraEnergyMats

[Lithium Price Bot @LithiumPriceBot]

May 06, 2026

#Lithium Carbonate 99.5% Min China Spot

Price: $27,417.49
1 day: $+1,535.38 (+5.93%) 📈
YTD: +62.18%

#Spodumene Concentrate (6%, CIF China)

Price: $2,730.00
1 day: $+190.00 (+7.48%) 📈
YTD: +76.36%

Sponsored by @LibraEnergyMats

[Q2 Metals - Cisco Lithium Project @Q2Metals]

🗞️NEWS: Q2 Metals Announces $60 Million Private Placement $QTWO $QTWO.V $QUEXF #Lithium

Read the full press release 👇 :
https://t.co/pLJvvsPBxE

[Lithium Price Bot @LithiumPriceBot]

Apr 30, 2026

#Lithium Carbonate 99.5% Min China Spot

Price: $25,790.47
1 day: $+364.27 (+1.43%) 📈
YTD: +52.56%

#Spodumene Concentrate (6%, CIF China)

Price: $2,540.00
1 day: $+39.00 (+1.56%) 📈
YTD: +64.08%

Sponsored by @LibraEnergyMats

[Mont Royal Resources @MontRoyalRes]

A significant development for the mining and resources sector in Canada 📢

Canada has launched its first sovereign wealth fund, the Canada Strong Fund, with a clear focus on new mines, trade and energy.

Read more 👇https://t.co/XxFTDkYHdF

[Lithium Price Bot @LithiumPriceBot]

Apr 27, 2026

#Lithium Carbonate 99.5% Min China Spot

Price: $25,709.95
1 day: $+438.24 (+1.73%) 📈
YTD: +52.08%

#Spodumene Concentrate (6%, CIF China)

Price: $2,507.00
1 day: $+38.00 (+1.54%) 📈
YTD: +61.95%

Sponsored by @LibraEnergyMats