Yes, us old investors have probably seen the situation as too optimistic, but many things have also happened that could not be predicted. Unfortunately, I saw it very late, probably also because here in Denmark more EVs are sold than traditional cars. The fact that the Lithium price comes so far down surprised me a lot, and even though I couldn't get calculations with EV production needs and supply of Lithium to match, I was a bit naive and believed all the forecasts that were put forward. We must remember that the war in Ukraine, trade problems with Asia and the high interest rates have kept all green investments on standby. This is natural, but fortunately it seems that interest rates are on the way down. All investment that does not promote production is doomed at high interest rates, so let's see if 2024, 2025 does not bring about a turnaround.

Still have a portion in Laac, but don't know if it's worth keeping them over the next year.

Unfortunately, I have to lie down flat because I have to go all the way back to 2000 (the IT wave) for having been similarly stupid. We probably also have to admit that we were warned by GS about falling Lithium prices, but were blinded by the case itself.

On the positive side, it must also be mentioned that a lot of money has been invested and paid on projects in Laac, Lac, and therefore it will now be even more difficult for new competitors to enter the Lithium market, because with the low price, new investments are difficult to calculate home.

My guess is that the CO project will cost at least USD 1.5 billion.( our value 750 mio.) in new prices, and our market value is below DKK 900 million. That means we only pay DKK 150 million. for the other projects + goodwill + future earnings.