And then in terms of nickel this is the part again people who've...

And then in terms of nickel this is the part again people who've listened to the show have probably heard me say the analysts always underestimate nickel demand growth. So again, so far this decade the first three years, were basically up 9% since 2020 per year. I can guarantee you that no base metal analyst / commodity analyst had 9% growth for the first three years of this decade. And this is despite interest rates rising, despite China underperforming - there's been a bunch of negatives that happened and we've still grown nickel demand at 9% a year!

Remember as I said we're getting into the more nickel intensive part of the EV market as big North American, as more big luxury cars have electric options, and so, if anything, you should see this number - and as the batteries become a bigger chunk of the overall nickel demand story - this should be a minimum going forward. And yet again all these commodity analysts …maybe some of them have now gotten brave enough to have 6% demand growth forecasts for a few years in there …and as a result they've got surpluses writing out for the next three four years - they're still woefully low. And when you put 9% in this market it rapidly gets into deficit in a very short period of time.

So this is the key piece that people are missing on the overall story