Certainly has been a rough time. I wonder if the reason for the...

Certainly has been a rough time. I wonder if the reason for the massive last cap raise was because they were concerned they would struggle to raise that kind of money when the quarterly is revealed. It's not uncommon for companies to do this. Is it not interesting that for a company that generally never releases anything of substance, Dougal made a point of cost of production per dm/t in last pres?

I'm not sure if Li price has bottomed again because its a volatile price by nature. Spikes both ways. This is why an offtake is a good thing as part of a mix of price exposure. Reversing it to an OEM for example, it makes sense for Tesla (like you can see in their quarterly) to have exposure to both stable supply agreements as well as it does to have spot exposure so when it drops they can make savings.