EV car sales hit 2m globally last month, and there are around 1.3b cars on the planet. The shift is in full motion with month-on-month sales from France to China up between 30-50%.
Each and every week, we're hearing more about a planned battery facility, a new EV model design, a new EV truck, home storage systems, all of which is hugely bullish for the lithium space. No automobile manufacturer wants to be left behind! The question is where is the millions of tons of additional LCE going to come from... Some people not familiar with compounding maths, are calling for a lithium 'over-supply'. I see the exact opposite, and for many years to come! Any new mine, all of the product will be snapped up!
Lithium demand is going supernova (cars, bikes (battery size ~20% of a car) , trucks (battery size 2.5-6x of a car), buses (battery size 6x+ of a car), anything with a combustion engine is likely to make the shift). Supply will not be able to keep up!
This is a white gold rush, like chasing sweet crude in Louisiana back in the early 20th century. There is simply no commercially available mineral comparable to battery grade lithium available at the present time, or for the medium term.
PIO just need to keep the drill bit spinning on the Australian high grade, shallow, SPOD ... and firm up a nice resource. The stuff in Canada is deep, and can only be accessed during certain months of the year... so the Dome should be forefront IMO. The less mica/no mica the better! Focus on the lower cost spod hits. It's only a bonus IF LPD can commercially process Mica at relatively low/comparable cost... until then... forget Mica. It's their risk, not ours. Win/Win.
We have a pegmatite minefield... the C's will fund some serious drilling plans.
Happy holding.
PIO Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
