Capital Expenditure And Liquidity PressureNeed for a new contractor, replacement equipment, and additional capital expenditures raises funding needs and heightens liquidity concerns, contributing to multiple compression.
Operational Execution RiskSudden pivot to self-mining following the mining contractor's departure increases execution risk as in-house operations require rapid capability build-out and create operational uncertainty.
Production Uncertainty And Market UnderperformanceQuestions around the contractor change and uncertain production rates may reduce near-term output and cause the company to underperform the broader lithium rally.