You are certainly right that there will still be some uncertainty, however, it is my opinion that the division itself where a due dillingece has been carried out, which certainly divides the company as fairly as possible because there are great interests on both sides. From here I see Lac CO as a company that will quickly find a better and real SP which is mostly dependent on the Lithium price, uncertainty from the political side?, new development projects, maybe acquisition of Gangfeng?

New Lac Thacker will also get its fair share, but here many institutional investors will still be on the sidelines until it is very visible that risks are gone. It is my experience that the institutional investors do not invest fully until there is turnover, EBIT. For me, it is a fantastic case and an opportunity to join the green wave without having to find the EV manufacturer or battery manufacturer that performs best, and with a great risk of them going bankrupt. Even the big German car manufacturers are coming under pressure.

Regarding the dilution of New Lac, it is not impossible that it will occur, but remember it is not a dilution due to loss of operation, it is capital to carry out the project, for me it is a very big difference and a necessity. Thacker can throw USD 1bn very easily. in EBIT over many years. It will cost an investment, but they will get that easily by procuring it. It will be exciting, and finally it seems that something is happening again. For new investor, this is one in a livetime.