Thank you for your analysis which could well be right. There is no investment with potential that is safe and easy to see through, but I think it's more a question of what you believe is the future. One thing is certain that in the end Lac has shown weakness, but I believe very much in the green transition which will give all industrial countries enormous new jobs. Here, EV and Lithium manufacturing are part of this development, and I have chosen Lac because the management seems credible. Otherwise, I specifically see the following:

- It will cost many billions. to build Thacker, but there are more opportunities for capital. Dilution as you mention, government loans. However, I think the American Lac will end up with a large capital, as they need cash to withdraw from CO.

- CO must probably use money for further expansion of CO, and the other investments, and to buy out 20 to 25%.

That is why it has always been my point that we do not see the real values until there is a split.

Mines have always been a strange investment, and never interested me until we saw the EV transition and Lithium production came to a higher level. Also remember that there are many economists who see a mega trend towards raw materials, due to the expected major green transition.

Thanks again for your post, which however made me think about whether I should take the top of a heavy investment in Lac, we see here during the summer.

good evening to all