Ann: FY23 Full-year results presentation, page-193

At $2000t, marginal production doesn't happen (Lepidolite). At $2000t, all the proposed DLE projects go down the gurgler, IMO. Also, with inflation still going nuts, all future projects will have funding issues. The China population isn't decreasing that rapidly that EV sales will be affected short term. Financial crisis, yes. China will continue to make insane numbers of EV's. They need to produce and export. The world will take them if Western OEM's cannot ramp. I'm less worried about China EV sales. I don't think there is any going back. Then there is the ESS market which is ready to explode. Air quality in Asia generally is poor. Governments will continue to encourage electrification. India, Indonesia etc. will ditch ICE scooters. Yes there will be waves as the noise continues. $700M profit may happen but it won't be the norm. The US and ROW has only just started their transition to EV's. Grids are only just starting to add storage from renewables.

For years, the noise surrounding this sector has been deafening and difficult for the average punter to filter. Being the sceptic of mainstream that I am, I choose to ignore most of it and have selected a few respected Lithium sector insiders to follow and use for research. That has contributed to the position I'm now lucky enough to be in.

A great day and year for holders and another opportunity to accumulate.