Rock Stock Channel

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?

NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH-----If you like this video, please click the 'like' button and please also comment so we can improve our content going forward.

And please register your email at www.rkequity.com and follow Rodney and me on Twitter (@lithiumionbull @RodneyHooper13) and on LinkedIn. Please also subscribe here on YouTube to Rock Stock Channel to ensure full access to all our free content.

And finally, if you find value in our content, please consider joining us on Patreon at patreon.com/rockstockchannel

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.

BNEF has been closely following government policy and consumer trends in the shift to a cleaner world. Howard and Rodney interview James Frith about BNEF's latest report and discuss various topics including the future market share of various passenger EV battery chemistries, whether high nickel cathodes can compete on a cost/performance basis long-term and if sodium-ion has merit.

Index:

1:30: Future battery chemistries5:20: US Biden administration announcement and impact on forecasts8:25: The case for EVs vs ICE in 203010:15: Consumer shift and OEM sales/advertising focus11:10: Can high nickel achieve a competitive cost/performance position given rising raw material costs?15:01: How important is carbon footprint? Will LFP be as competitive ex-China? Thoughts on FREYR Battery19:51: Will sodium ion compete in the future?

----If you like this video, please click the like button and please also comment so we can improve our content going forward.

And please register your email at www.rkequity.com and follow Rodney and me on Twitter (@lithiumionbull @RodneyHooper13) and on LinkedIn. Please also subscribe here on YouTube to Rock Stock Channel to ensure full access to all our free content.

And finally, if you find value in our content, please consider joining us on Patreon at patreon.com/rockstockchannel

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.

Post TSLA earnings call and ahead of the "Big 3" Lithium producers ALB, SQM and LTHM, Rodney and Howard caught up with Morningstar's Seth Goldstein to talk US-listed lithium stories, strategies, supply/demand, pricing and valuations. We also discuss his views on the potential and his assessed valuation of America's newest lithium development story, Compass Minerals, which published in July a significant 2.4mt LCE lithium resource contained within their operating Great Salt Lake potash operation in Utah.

----If you like this video, please click the like button and please also comment so we can improve our content going forward.

And please register your email at www.rkequity.com and follow Rodney and me on Twitter (@lithiumionbull @RodneyHooper13) and on LinkedIn. Please also subscribe here on YouTube to Rock Stock Channel to ensure full access to all our free content.

And finally, if you find value in our content, please consider joining us on Patreon at patreon.com/rockstockchannel

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.

Keith Coughlan, Managing Director of EMH developing Europe's largest and most advanced hard rock lithium project join Howard and Rodney on the back of listing the company's American Depositary Shares on Nasdaq International and as the Czech government signed an MOU for $2B investment in a battery plant 55km away from the company's flagship Cinovec deposit. Discussion covers strong partnerships with Czech state owned utility CEZ, Germany's world class EPCM SMS Group and the path over next 9-12 months to definitive feasibility study, final investment decision and financing.

Will Adams, senior analyst for leading price reporting agency Fastmarkets discusses with Rodney and Howard his views on current supply tightness and rising lithium prices.

Will the current lithium boom peter our like the 2016-2018 period? Or are we in for sustained shortages as suppliers struggle to keep up with rapidly accelerating demand?

 

Not Investment Advice. Do Your Own Research. If you like this video, please click the 'like' button and please also comment so we can improve our content going forward. And please register your email at www.rkequity.com and follow Rodney and me on Twitter (@lithiumionbull @RodneyHooper13) and on LinkedIn. Please also subscribe here on YouTube to Rock Stock Channel to ensure full access to all our free content. And finally, if you find value in our content, please consider joining us on Patreon at patreon.com/rockstockchannel 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.

Piedmont's market cap has grown 100X from $10M to $1B+ in 4 years as it has progressed early stage exploration with 19 drill holes on 500 acres in North Carolina to an expected definitive feasibility study this September & potential start of construction in early 2022.

Piedmont CEO Keith Phillips discusses PLL's robust updated economic study, improved sustainability profile and near term strategic objectives both on financing the Piedmont Lithium Project in North Carolina and Piedmont's own consolidation/M&A endeavors in Quebec and possibly elsewhere.

Time Index

0-2:00 - Intro

- new scoping study reflects a near doubling of NPV to $1.9B, steady state EBITDA growing from $230M to $400M, 31% after-tax IRR and 3 year payback period.

2:00-6 - Sustainable Lithium Hydroxide Business

- Independent LCA analysis by Minviro - the preliminary analysis shows 3 key metrics - water use/land footprint and carbon intensity - Piedmont is a stand out in all 3. What drives the numbers on all three? How is it possible for Piedmont's carbon intensity to be only a quarter of China?

6:15-8:15 - Innovative Hydroxide Technology

Piedmont is using a “sulphate free” Metso Outotec process. What are the benefits of this over sulfuric acid roasting process currently used in China and planned for Australia hydroxide projects?

8:30-15:15 - Hydroxide vs. Carbonate, Price Premium

- Why is Piedmont focused on lithium hydroxide rather than carbonate?- In a world of $100/t a ton carbon taxes we believe the 15t of CO2 per tonne of hydroxide difference with China will mean a $1,500/t premium for Piedmont - do you agree?- Will we see an even higher price premium in the USA given transport/logistics benefits such as lower inventory needs given close proximity and no risk of import duties?

15:15 - 23:45 - Bigger Production/Stronger Economics/Lowest Cost Global Hydroxide Producer

- The scoping study outlines a near 50% increase in planned production - 30ktpa - presume this is on the back of the increased resource size?- Considering Carolina head grade of about 1.1% vs. the world’s best hard rock deposit Greenbushes at 2%, how is it that Piedmont can be the lowest cost producer of hydroxide?

24:00 - 33:00 - Strategic Dialogues/Process

- The 2021 study has higher price assumptions for SC6 and LiOH that are similar to current spot prices - are you seeing increased interest in off-take at pricing around the studies assumptions?- The Capex for the project has grown to ~$800M. What is the timeline for completion of DFS, full financing, financial investment decision, construction start?

33:00 - 38:00 - Piedmont as M&A Consolidator

- Any update on Sayona/North American Lithium?- Do you see scope for further consolidation of hard rock projects and do you have any plans for additional project investments?- You have recently appointed Tier One global investment banks JP Morgan and Evercore. What is their mandate?

38:00 - 42:00 - EV, Battery, SPACs, Build Back Better Biden

- How is both public capital markets and government initiatives impacting overall sentiment toward Piedmont in terms of raising funding?- Might USA and/or Canadian government support be relevant in Piedmont/Sayona financing plans?

NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH-----Intro and outro audio credit: Jamie Klein

In Part 2,  Rodney Hooper interviews Jordan Giesige from the Limiting Factor to discuss big things happening in the US auto market, Battery material bottlenecks, bi-directional charging, Cybertruck & Semi rollout, Lithium shortage, Auto OEMs sourcing battery materials, LFP batteries and Jordan’s videos speculating about Tesla's clay lithium endeavors.

Part 2

0:00 Intro1:23 US market3:17 Battery material bottlenecks8:26 bi-directional charging10:12 Cybertruck & Semi rollout15:54 Lithium shortage17:44 Auto OEMs sourcing battery materials22:52 LFP batteries30:03 Jordan’s next video30:59 Credits

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If you like this video, please click the like button and please also comment so we can improve our content going forward.

And please register your email at www.rkequity.com and follow Rodney and me on Twitter (@lithiumionbull @RodneyHooper13) and on LinkedIn. Please also subscribe here on YouTube to Rock Stock Channel to ensure full access to all our free content.

And finally, if you find value in our content, please consider joining us on Patreon at patreon.com/rockstockchannel

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.

In this episode of Rock Stock Channel we are privileged to have E3 Metals CEO Chris Doornbos on the show to discuss updates on recent milestones like their recent PEA, their DLE technology, the size and contents of the Leduc reservoir, how to scale production and much more.

Research Note Much Ado About Unconfined Aquifers?By Alex Grant and Chris Doornboswww.jadecove.com/research/muc...​

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If you like this video, please click the like button and please also comment so we can improve our content going forward.

And please register your email at www.rkequity.com and follow Rodney and me on Twitter (@lithiumionbull @RodneyHooper13) and on LinkedIn. Please also subscribe here on YouTube to Rock Stock Channel to ensure full access to all our free content.

And finally, if you find value in our content, please consider joining us on Patreon at patreon.com/rockstockchannel

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.

In this episode of Rock Stock Channel Rodney Hooper interviews Jordan Giesige from the Limiting Factor discussing VW's Power Day, Solid State batteries, Graphite, Synthetic vs Natural and Silicon doping and a lot more

Time Index

0:00 Intro1:32 VW Power day8:28 Natural vs Synthetic graphite13:44 Battery materials shortage17:00 Localised Supply Chains19:56 Novonix21:31 Graphite outlook24:40 Credits

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If you like this podcast, please click the like button and please also comment so we can improve our content going forward.

And please register your email at www.rkequity.com and follow Rodney and me on Twitter (@lithiumionbull @RodneyHooper13) and on LinkedIn. Please also subscribe here on YouTube to Rock Stock Channel to ensure full access to all our free content.

And finally, if you find value in our content, please consider joining us on Patreon at patreon.com/rockstockchannel

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.

Dirty or clean? Natural or Artificial? Matt Fernley MD at Battery Materials Review and Head of Research for Westbeck Capital's Volta fund joins Howard and Rodney to discuss all things Graphite. A lot to cover including VW Power day and commitment to Synthetic Graphite, Silicon and solid state batteries, Chinese graphite producers, 2023 graphite shortage and is the future going to be Natural or Synthetic graphite?

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If you like this video, please leave a review so we can improve our content going forward.

And please register your email at www.rkequity.com and follow Rodney and me on Twitter (@lithiumionbull @RodneyHooper13) and on LinkedIn. Please also subscribe to Rock Stock Channel on YouTube to ensure full access to all our free content.

And finally, if you find value in our content, please consider joining us on Patreon at patreon.com/rockstockchannel

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.