Hi Cal,

I understand completely!  It is a deeply unsettling time with no framework for how the future will look.

I will pass along more of what I heard yesterday at Benchmark.  They do not have all the answers but have been following the broad trends in regard to Lithium and EV.

 Benchmark completely reaffirmed a major transition to lithium around 2030...that arc is much the same.  The next 2 years are going to be bumpy as supply/demand and supply chains work themselves out.  Some companies will not make it, others will need to merge etc.

Their take in regard to oil was not a worry in the long term.  The transition and commitment from all auto companies to EV is firmly rooted.  Short term...possibly.  

One interesting point was the discussion about worldwide supply chains.  Their vulnerability has been exposed...especially to the car industry.  EV are in better shape to learn from this and think that vertical integration will become very important.  Also mentioned that Lithium is volatile and tricky to move so you dont want to move too far.  Tesla is driving this point also(note # gigafactory)

This is the arc of what I learned yesterday.   Much is still yet to be figured out in short term...but long term trend looked good.  Could this move EV forward faster or will it stop everything???  That's the question ...and as Simon Moores says depends if you are optimist or pessimist.

My take for LAC is to hold and see how it shakes out.  Will reassess by 2025 when kinks worked out and price stabilized.  Certainly a longer time frame as related to price of lithium going up.  Will see how management plays this in regard to financing TP and when Cuchari will come online. 

Hope that helps Cal!