I'll ask the question this way because the fact is 2000 GWh...

I'll ask the question this way because the fact is 2000 GWh means a lot of new production capacity, especially if it is more than 2000 GWh. We are talking getting into market and meeting growth. So, where is all that underlying production need going to come from? Existing or new producers, noting the move is to lithium hydroxide monohydrate and that is why also hard rocks are coming into play.

If I took your view, then BHPB would have always stayed a 5 mtpa to 10 mtpa operation as per the late 1960s and 1970s, as against the plus 200 million tonne per annum operation it is today. Greenbushes itself has expanded significantly.

At the end ofthe day it is about demand and where that supply will come from. I am optimistic in terms of a long erm outlook that starts at x and grows to y. Will make this my last post here as don't want to clog up a thread but demand growth a key for all of us, as it was for FMG when it started production and subsequent lage scale ups. And yes I know the difference between iron ore and lithium but using them to make a point.

I'll leave it at that.

All IMO