IMHO, vertical integration by supply-conscious battery...

IMHO, vertical integration by supply-conscious battery manufacturers will drive many acquisitions across EV metals.

A resource, like AZL in the battery corridor of the USA - Arizona - would be particularly conspicuous (as a supplier or purchase) to cashed-up local US battery manufacturers such as KORE Power who are now building a manufacturing plant in nearby Phoenix.

But, as we all know, lithium is hot property WORLDWIDE. Competition amongst global manufacturers for lithium – will also make early days plays here in Australia – QXR, NAE and RAG – highly attractive JV or acquisition targets. It's exciting times for these small caps outfits.

Acquisitions by majors looking to move into Lithium are already a reality. We just saw Rio Tinto buy the undeveloped Rincon deposit in Argentina for US $825 million. Notably, Rincon inn yet to produce lithium carbonate, it merely has a pilot plant to prove their new extraction method viable.

Who is to say that the wealthy neighbours of QXR, NAE and RAG are not already peering over the fence!