It is somewhat uphill. Now we have approval for Tahcker and production will soon spill out of CO, but what happens then? The price of lithium falls sharply and the rate falls sharply.

Be careful not to sell your share too cheaply, all Lithium shares that are in production and valued at a high Lithium price must of course fall when the raw material falls. This is not the case at all with regard to Lac, it has never been valued at such a high Lithium price.

I have an older calculation that says at a Lithium price of USD28, Lac's value will be as follows:

- 2023 = USD 75

- 2024 = USD 114

- 2025 = USD 153

- 2026 = USD 193

- 2027 = USD 250

The cost price was after 2021/22 prices so it has probably increased and of course drags down EBIT, but I still see USD 28 low, don't think we will get below USD 35, but who knows.

Just for info, and I don't want to recalculate the entire excel sheet because it is with depreciation, goodwill etc. There will be a due dillingece during Q2.

My advice is hold if you can't do better shares, it is, however, 10 times the current price over 5 years, and I wonder if the Lithium price will rise again.

Elon Musk also believes storage will become big.

Remarks: also the macro economic hold all share down.