Lithium expert and 30-year Albemarle veteran Gerrit Fuelling join Rodney and Howard again for broad-based Q&A on status of lithium markets, pricing, producers and advanced developers.

Video Index:

0:00-1:18 - Introduction

1:19-1:40 - Gerrit introduction

Questions:1:41-4:05 - Lithium spot prices are moving up, contract prices and earnings are lagging, when will contract prices increase?

4:06 - 6:45 - What contract prices will incumbents receive and is it realistic for juniors to achieve spot prices?

6:46-8:40 - Albemarle targets low 40s (percentage) margins, it's been lower recently, should investors expect a return to the low 40s?

8:41-10:20 - $13-$15/kg isn't sufficient for some producers to make sufficient margins - how this interacts with spodumene prices - Gerrit reaffirms a $17-$18/kg long term price

10:21-13:49 - Gerrit explains the importance of yield at conversion plant

13:50 - 16:30 - Have end-users, particularly OEMs, understood that $17-$18/kg is the required long-term incentive price?

16:31 -17:27 - The impact on price of lower grade resources being brought into production as we shift to the right on the cost curve given strong demand

17:28 - 21:51 - Chinese spodumene converters in operation/construction in 2012 and 2020

21:52 - 23:45 - China currently has approx 75% cathode capacity and that looks to be growing in the future, what will break this stranglehold?

23:46 - 25:20 - Spodumene concentrate is the quickest route to production and the US GWh demand is the fastest growing market - can Canada be the next frontier?

25:21 - 25:50 - Is a DMS-only project advantageous from time to production and permitting?

25:51 - 26:40 - Conversion technology and permitting in Europe

26:41 - 33:00 - Metso Outotec - various companies seem to be choosing this methodology, the importance of tailings removal -

33:01-34:05 - Gerrit's view of the political risk in South America and its impact on lithium supply?

34:06 - 39:26 - The quality of products coming out of South America linked to export taxes and royalties - what does Gerrit think of the company strategies?

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Intro and outro audio credit: Jamie Klein

DISCLAIMER

RK Equity is an advisory firm run by Howard Klein and Rodney Hooper. We are exclusively focused on raising awareness about companies producing or developing the next generation critical raw materials that are powering Tesla’s EV Battery Energy Transition, including lithium, nickel, graphite, rare earths and other technology metals. We also track the growing number of EV Battery themed stocks going public through Special Purpose Acquisition Companies. Our clients include developers of greenfield raw materials projects as well as large strategic investors, and investment managers seeking to allocate capital to this rapidly growing sector. Rodney and Howard are not financial advisors or broker dealers and nothing you hear in this video is investment advice. Please do your own research and read the disclaimer at the end of this video or on our website.