Ann: Operational Update, page-70

I think that the companies facing an existential crisis are those that have to service massive debt while lithium prices are low. Look at Thacker Pass $2.26 Billion debt and a lithium break even price of $22 per kilo. I hear rumors that companies have built ponds in Argentina and will now not process those ponds because every kilo of lithium will be sold at a loss. The companies that are in real trouble are the companies with sunk costs and large debt. LKE for all our problems is debt free. All the costs that LKE face are within its ability to control. Yes the CEO and the CFO are on packages that are not justifiable under present conditions but their contracts will expire and I assume they will be replaced by people on much less money.