I concur that exciting times lie ahead for Li as a commodity and...

I concur that exciting times lie ahead for Li as a commodity and MLL as a player in this space. There's also going to be a few false starts along the way ... I suspect the mid-2010s Li spike coupled with the current Li market malaise will become a textbook example of this.

The big question lies in when - and not if - the supply of Li will meet long run equilibrium with the demand for EVs. I can't see this outcome for at least 10 years, but I can see EV demand outstripping Li supply for a fair chunk of the 2020s. The key driver for this will be at least one major mainstream Western auto maker going all-in on EVs (it'd be nice to use a small chunk of my MLL gains to pay cash for a 2025 VW ID.3, but I digress).

Having said this, I've got holdings in both Li and oil producers. ICE won't be going away any time soon, and having interests in both Li and oil during this transitional period is a sensible approach IMHO. Many ICE-powered vehicles being produced right now can expect a service life of at least 15 years, and we're still some years away before the production mix of EVs to ICE-powered vehicles tips in favour of EVs.

Just my uneducated opinion, DYOR etc.