American Lithium (NASDAQ:AMLI) has significantly increased the estimated value of its Falchani lithium project in Peru to $5.11 billion, with potential byproducts raising the value to $5.58 billion. The project boasts a low initial capex, robust economics, and a competitive operating cost of less than $5,100 per ton of lithium carbonate. Despite a slump in lithium prices and challenges in the battery metals market, Falchani's cost advantages make it a standout project. The lithium market has seen an 80% price drop from 2022 peaks, affecting companies like Horizonte Minerals and Core Lithium, which have faced project delays and operational suspensions.