It's probably we're in a dull period, and technically Lac does not look great either. Yet I see the situation somewhat differently, not that it happens, for the future we do not know.

- EV will be large, the price is below 50% of petrol, and that with a very high electricity price. We have to be green and there will be very large investments everywhere, and therefore Lac will be on the rise again.

- sees the Ukraine war stop in August, or no later than Q4 2022. Can not see Russia holding on to the pressure.

- Energy prices have now peaked, but will fall slowly for oil, gas etc. must find new transport routes, so 2022 will start to stabilize, and the Middle East will turn up because they want the fairly large revenues that are possible. After this, there will be a great competition for oil again because Russia will have overproduction, and will have to get rid of the oil again also as payment to enter into cooperation with the rest of the world.

- general inflation is also close to the top because the shortage of chips and other commodities is bottoming out and the need is also declining. An incipient resignation will put pressure on rising interest rates, which will be pushed down again, but slowly.

- Do not think we have seen how trendy the Lithium industry will be, yet.

My bid we will see Lac between USD 50 -70 at the end of 2022.

This is not a buy recommendation.