Ann: Environmental Impact Assessment (EIA) Submitted, page-57

junior/developing lithium players might be in for luck as market starts to realize the demand for lithium could be far more than projected supply... lets hope LPI mgmt doesn't let shareholders down yet again!!

Rodney Hooper
BEE advisory | Commodity investment research and advisory (EV battery metals)
21 Sept 2018

the rise of ex China cathode & battery plants in the EU & Asia will herald the start of increased M&A and project funding for battery metal juniors / developing companies. LG's announced deal with Ganfeng Lithium Co., Ltd. for 100k MT of hashtag#lithium is likely to be the first of many.

Benchmark Mineral Intelligence is tracking 45 "megfactories" due for completion by 2028, the implied demand for cobalt & lithium is a multiple of current supply. 2 megafactories were planned in 2015, in 2018 it's 45, more will be planned as EV models from major OEM's increase.

PROJECTED demand is well ahead of PROJECTED supply. Incumbent producers have presentations claiming large capacity expansions - history has shown reaching n/plate cap is difficult. Chinese automakers have trusted their domestic battery supply chain - not unexpected as China dominates EV sales. Running tight inventories under these conditions held limited business risk, however, as global EV sales climb & traditional OEM's enter the market for batteries through L-T guaranteed contracts - things are likely to change. General Motors recently rejected a battery delivery. Market conditions point towards end users looking to guarantee metal supply chains - this should result in new projects being funded / developed.