No. Hypothetically and off the top of my head I might go this...

No. Hypothetically and off the top of my head I might go this way.

1) I would allocate 20% to BRB as a two way bet: Assuming I am already invested in the WA gold sector I might still want to fill a gap with a late stage explorer / early stage developer such as BRB. I might also be happy to increase my exposure to early stage WA lithium explorers which I can get indirectly from BRB. However in light of my current stock weightings I might not want to invest in GL1 directly.

2) assuming I already have some WA lithium stocks and south american brine (which combined currently provide the bulk of lithium globally), and given I think North America is only now realising the gap between lithium supply and demand I might allocate maybe 50% to a couple of north american focused stocks. Quebec in Canada mostly uses cheap, clean hydro-electricity and has more than 90% of known Canadian lithium so I might look at an ASX listed Quebec based near-producer and an ASX listed Quebec based early explorer.

3) with the remaining 30% of the funds you are donating to me I might consider an early WA gold explorer, maybe in the same region as BRB, and stocks that are early adopters to other battery materials like South Australian graphite or WA vanadium.

So yes, I think it is highly probable that we are only now entering a super commodity cycle for battery materials but I can't be certain which boats on that pond will be rising the most so I would be looking to spread the risk. Also, gold has always been a pillar investment for me so I would probably try to retain reasonable exposure to it. Playing with both gold and lithium miners is high risk stuff, both at a company level and at a sector level, so hopefully I would resist the urge to make any heroic all-in calls.

Now if I were Major Tom I would want to sit on BRB's GL1 holdings until we see the likes of BHP or Toyota or Shell moving to acquire control in upstream lithium. From what Tom said at last week's presentation he is already factoring in that Breaker is probably due another $20m in progress payments from GL1 and that Breaker's gold project is already effectively being carried by its Manna lithium interests. It will likely be at least another 12 months before Breaker needs to build its war chest for its move into the development stage so why would Tom and Pete liquidate the lithium assets now?