HC:  "Batteries are made with less lithium or none" (Your point under the title of "Risk")

HC, in the long view of things that is not an insignificant risk.  Technology does not stand still and todays superstar technology eventually becomes part of the pile of obsolete junk.  So, the important thing to consider when evaluating any extant technology is: "How long is the fuse before the explosion?"

I believe your previous time line about the prognostication for financial success, as that applies to LAC, is well within the expected life time of Li-Ion suzerainity in the field of EV adherence to Li-Ion battery technology as the primary technology in that arena. 

My opinion, and is only just that, an opinion, is that we have at the very least a good decade ahead of us before alternative energy sources will make very significant incursions into that Li-Ion dominance as far as the area of EV power supply is concerned.

In the field of stationary battery supply, hydrogen is just one of a huge number of players, and probably not one of the best at that.  That niche is exploiding with various other players.  As for stationary battery storage situations go, I don't believe Li-Ion dominance will sustain another 10 years.  It is already eroding against competitive battery chemistries.  It has numerous challenges from other battery chemistries that suit very well the specific needs of stationary battery storage in a niche where the highest energy density and power density are not at the top of the list of requirements in order to be selected by those in need of stationary battery storage.

It is in the field of mobile power supply where Li-Ion based batteries will have the longest run at being top dog.  And as an investor in LAC for at least 10 years I am encouraged by what I personally perceive is a great future for LAC and Li-Ion technology during the next 10 years, but this pre-eminance won't last forever.  As an individual investor I hope and plan to make a profit by taking profits during the next 10 years.  Beyond that time period there may come a day when the demand for Li-Ion batteries declines, slowly at first and more rapidly over time.

At any rate, I would agree with you for the forseeable future, if we foresee up to a decade away, that the demand for lithium will continue to expand rapidly.  The Risk in that time frame is indeed small, very small indeed. 

However, in the long haul all technologies have an End of Life date.  Thank goodness, for LAC investors, Li-Ion technology is at the beginning of its Cycle of Life now and not in its old age.

Okiedo