PLS chart, page-4328

Recently, a major investment bank gave us a neutral rating.
When you see such conclusions being drawn by these organizations
the knee jerk reaction is to accuse them of some form of manipulation.
Unquestionably, a great deal of that goes on.

I am convinced that there is another, as important, reason for so many
of these analyst to have been so wrong throughout this year; namely, focus.
I'll bet that most of the regulars here own no more than 6 stocks in 2 or less
industries. It is that concentration that allowed us to see the writing on the wall
related to PLS and other lithium producers. For example, in a recent interview
Ken put numbers to an issue we have been very much aware of for a long time.
He said that over the past couple of years for every $8 dollars invested downstream
only $1 was being invested upstream in mining and production.

We all knew this because, for example, we get up every morning and read all the
articles on lithium being posted by the likes of Nevchev. We are laser focused on
PLS and the ev industry, while many of these analyst are following a 100 or more
companies across multiple industries. There is no depth of analysis, while here there
is nothing but.

So to you providers of depth I say Merry Christmas, Happy holidays, Happy New Year
and please be safe because 2022 is going to be a fun investment year for us.