External News & Commentary, page-803

My sentiment is hold cause I already have bought back in.

General sentiment is buy cause we have 2 catalysts this qtr

Funnily enough the Tiehms 1 year environmental review is set to finish in May (this qtr) as it was started in May 2020. Perhaps we will have 3 positive news pieces this qtr - quietly optimistic.

INR is one of the most advanced lithium projects in the US and the EV market is already growing sharply. This highlights the need for a domestic lithium supply as ALB ~7,000 tons a year is a spit in the ocean. The US dont have time to sit on their hands in the EV raw material race. If they knock this mine back based on a plant that has been successfully propogated it will be a blow to future US domestic lithium production and their raw material security as a lot of projects are far less advanced and havent even prepared DFS yet.

It will confirm IMO that the US regulations around mining of critical raw materials like lithium have not changed and are still heavily red taped leading to a new Chinese lead market. Their government is backing EV manufacturing and raw material production while it would appear USA would be leaving it to the free market.

If all 3 items fall in place this year - Offtake at good price, strategic partnering with lithium industry powerhouse and endangered status being denied on the basis off successful propagation. I think we would be looking toward 70-80c at a minimum.

20,000 tons a year at $13,000 USD - $260M annual turnover. Opex will be covered by boron and then we just have the plant to payback.