Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-6

I’m hopeful things will turn around in Q3 / Q4 of this year. The usual downrampers are making it out as if the current lithium price will stay the same, it won’t. AZL put out their data with a modest lithium price of $21k, I think that’s a very realistic target and if you listen to all the lithium experts they all believe it’ll get to a comfortable $25-$35k.

So AZL is still very profitable even at their low figure of $21k.

A lot of the spodumene producers are halting production or will stop as there’s no point producing just to break even. As bad as this may sound, it’s actually great for us. All this means is that we’ll need even more lithium in the future.

Have a look at the commodity price cycle and you’ll get the idea .