ASN Chart, page-1201

Good points. Another consideration is the 'high' occurred under a government that was pro-fossil fuel and anti-climate-change action. Since the high of MC 100M, California has pledged to ban fossil fuel cars by 2035; the UK has pledged to ban them by 2030; Biden, who is pro-climate change has immediately re-joined the US to the Paris Climate Agreement, and he is just getting going on action to reduce fossil fuel use. So, based on those tailwinds, the current MC is a discount to a high that had many headwinds compared to now, which has many tailwinds. The climate change movement is not turning around. It is not a temporary trend. Countries and companies around the world are strategising for the new energy economy. As long as lithium continues to be a key EV battery ingredient, there will be increased demand. My humble view.