$100, page-22

When you consider what CE has done for the last 6 months you can start to see the master plan. They raised as much debt as possible over the last 12 months while continuing to be free cash flow positive.

He has bought strategic stakes in most hard deposits in Australia, which are now likely to either fall over or trade to pennies on the dollar. Yes he takes a loss initially but won't much matter. With Onslow coming online and the huge profits that will be made from the rest of the IO operations plus the Mining services, he will be able to buy up all these distressed lithium assets over the next 12 months. Effectively CE will have a lithium empire and control most of the supply from Australia.

Share price is down today, headlines are scary but CE has been moving these chess pieces for the best part of the last 12 months in anticipation of those exact event.

I don't know where the bottom is, but if CE has calculated correctly buying MIN today is going to give incredible leverage to lithium in the future. Perhaps more leverage than any other lithium player.