Owning the tech would clearly be incredibly valuable, but...

Owning the tech would clearly be incredibly valuable, but there’s more than enough value to be made across the battery supply chain. Lake does have first mover advantage at an absolutely critical time next 12 months plus regional exclusivity. Also sounds like somethings happening behind the scenes on something more formal.

If the demand story plays out - this article says 15% of demand can be met - then Im not sure differentiation is required.? The PFS implies conservative pricing (anyway let alone 99.97% let alone future pricing given 15% of demand can be met). And PFS says we should be trading far higher. I think there is a question on whether PFS volumes can be delivered, be good to prove that up soon.

For me it is same with management. It would be great to have more strength and depth, but if it’s a sell because of that then we’re saying management have less than a 1 in 20 chance of delivering the PFS and if they fail there’d be no takeover. All in a Li bull market.