Independent Report, page-44

There is a lot of negative sentiment in the lithium space. But I still think long term this stock is a winner.

The negative sentiment is actually favorable IMO. A lot of projects aren't going ahead, project expansions aren't happening, also due to negative sentiment some companies are struggling to get finance and or aren't even produce battery grade product, project cost blow out. In the small mining company lithium space, survival is paramount in current market. I think I saw an article today about a South Korean business no longer funding a project in Chile just to name a recent example in the space.

However, I think this sentiment will feed a lack of investment and then a future lithium supply shortage, as demand is still there. Our top 3 shareholders are HSBC, Citicorp and JP Morgan at about 7% holding each. Aren't all of these investment banks? INR is profitable even at the lowest of lithium prices in the current market. Rio's boron reserves from US mine gets lower each year and harder to extract. It makes sense that this is the next project to cover that boron shortage.

Based on 60Mil in the bank that is about 3/4c per share. So current resource is being valued on the market at 10c a share. What madness is this?