Ann: NASDAQ Listing Update, page-14

Welcome to those new in the mining sector. Cycles of boom and bust.

Do what every professionals do and simply follow Ganfeng and Tianqi for lithium market sentiment, don't have to follow all ASX stocks.

Wolfsberg project and EUR has survived since 2012, even when lithium was at its lowest in 2018-2019, I'm pretty sure it can withstand the market at these prices too. We've always known the recent boom was too high a price and would be short lived. Prices will pick back up soon and we'll be back into boom time yet again as this predictable bust unnecessarily knock out supply and competition.

Lithium is not some tech stock or BNPL. It is physical and has a tangible worth. Investing in mining takes patience but more often than not, backing projects that has little competition in a particular market is worth the risk/reward.

There are many in this list that are not even in production yet, and the price of lithium in 2026 and beyond will be far higher than what it is today so it beggars belief, startups that are not selling products yet but financially sound to develop production in 1,2,3yrs from now are impacted by overall market sentiment. It is also quite stark how little "the market" actually know about lithium as brine, spodumene and clay, despite each very different in particular economics, are more or less valued (incorrectly) the same way.

If you know which companies to back and have the patience, it's fairly easy money.

Cheers