Cal, now you got me worried. During the last sprint, I have sold quite few 30 calls with expiration on this Friday. I have never bother to close that position, but should this sprint continue, it may significantly increase my cash position. Assuming, that LAC has still long way till production, I bet on the pullback.

Here is my speculation, why LAC was doing so great last few days:

On TOB, I have seen a link to an article, that Ganfeng is increasing price for Lithium Carbonate by $15/kg. I have not validate that yet from other sources (ie speculation), current price is around $21/kg (https://www.fastmarkets.com/commodities/industrial-minerals/lithium-price-spotlight), so it would mean, that next year price may go up to $35/kg. C-O has been calculated with $12/kg and it is a battery grade quality. Even if Ganfeng gets 30% discount (FS claims, that they should pay the “market price”) on market price, the profit from operation should significantly exceed the FS calculation. Initially, I have thought, that it is some misunderstanding, but since the sector went up yesterday…

Regarding the volume, it is very likely, that recent deal with Neo Lithium may spark some segment consolidation. I am still hoping that LAC is already too big to be bought (and Ganfeng would be silly to buy them), but certainly some interest is there, hopefully from pension funds, not a takeover. IMHO Evans should not mess around and issue few more shares, like 20-30 millions. We can live with 20% dilution and with the current price, that should be enough to build Thacker Pass.