True, advancements in chemistrys (Be it some way/time off) could pose risks for cobalt, nicklel or gaphite should they be omitted or substituted.
However Lithium ion batteries be they LFP, NCA or NMC variants or Solid State lithium batteries all have 1 common irreplaceable element being lithium.
Most experts believe solid state to be 10 years away but even if it comes sooner it doesn't meen current Lithium Ion factories become redundant overnight, it just means they will probably be retooled for the next generation of lithium battery technology.
As you say, always risks for miners but by far the lowest risk of the battery commodities IMO is a) lithium, b) lithium producers (less technical and/or finance risk) c) lithium producers in tier 1 jurisdictions (less sovereign risk).
All the hard work has now be done by PLS management, just a bit more time and patience to see the rewards.
Hopefully the next few years bring expansion of both plants to arount 1mtpa SC6, higher pricing, JVs in korea and the EU (as JL seems to allude to) and possible the US or india which will make us one of the biggest international players, all very exciting times ahead!!!!!
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