Thanks for the links Stephan90, I just finished listening to the...

Thanks for the links Stephan90, I just finished listening to the BMO chat and I have to say I learnt more about where the company stands than from the recent Qtr'ly report and conference call.

To begin, the more I hear Paul talk, the more impressed I am with him, I think the forum has unfairly judged him in the lead up the merge (regardless of the fact that neither Livent or AllKem has met their production growth targets over the years), he seems to be alot more honest on where the company is and what the companies plans are. For example when asked about Nahara, he said they have a long way to go and alot to learn, this is very different to what we heard from Allkem. Also about the future of MtCatlin and if it makes sense to produce in 2025 if pricing remains at current levels and he said it probably doesn't and requires a $1500 price, if they go underground it needs to be higher again.

I liked his explanation on profit, he said much the current profit in this low cost environment is coming from legacy Livent (due to contracts that have floors and ceilings), but in a higher pricing environment the legacy Allkem will be the profit driver of the company. So the board needs to work out how to best allocate capital in this environment. This is very prudent and sensible in my book.

The last part about pricing was also interesting, he said that a number of Chinese integrated battery producers are still happy to mine at a loss on DSO or Lepidolite as they wanted to have a portion of their supply where they own the upside and that this means that it has sucked out some of the demand from the market recently.

Time will tell if we have already hit the low in pricing, but we seem to well placed regardless on what pricing does in the short term.