I think everything you have said is reasonable. On the flip...

I think everything you have said is reasonable. On the flip side, specifically referring to Novonix and the broader isolationism that will impact the industry, they are approaching 'make or break' territory. The end of this year or early next year should have Novonix start to make more meaningful revenues. That's not to mention that this newsagency is already making 10m revenue a year on a run-rate basis, and is the market leader in testing batteries. Hardly nothing. That said, with likely additional binding offtakes to come in the next 6-12 months, a DOE loan and a greenfield site announcement, there is plenty to come imo. Novonix has been derisked significantly over the last 12 months. The golden question is, can they continue producing high-quality anode at scale, at 10k-20ktpa? Again, I'm not too interested in the share price over the next 6-12 months provided they continue to meet key milestones, but I wouldn't be surprised if we are looking at a healthier share price in that time then what we are currently seeing.