Ann: March Quarterly Activities and Cash Flow Report, page-41

Currently without studying all the facts, cursory glance suggest ARL being sold down by the PFS to technical levels then they reminded Market about option expiry in the money. The conversion will put supply of new shares into the market and drive the momentum down further. $1 psy level if broken strongly is bad technically and I’m glad I didn’t chase that one when I was asked to have a look and also glad I didn’t catch the falling knife just after the news.

The problem with punting fully exposed only to related sectors of EV is that they all move directionally together. Some of the Li stock had a phenomenal rally from late last year. Even KDR trend considered the strongest is starting to follow its peers in the same way COB in Cobalt sector.

There will be bull and bear swings along this journey even though the generic fundamental of the EV revolution remains intact and growing. Do you see crude oil moving only up with the massive market in ICE vehicles? Remember the 2 or 3 handle in crude oil not so long ago against the big new car production? This will likely happen to Li pricing and I dare say Co to in the future when other regions catch up to match Congo production.