It's worth remembering that: 1. A business's value is related to profits or potential profits. If I put a dollar in, how many do I get out? What's the maximum

It's worth remembering that: 1. A business's value is related to profits or potential profits. If I put a dollar in, how many do I get out? What's the maximum number of dollars I can put in? 2.The farther away you are from an end customer, the lower your profits tend to be unless you have a moat or demand for your product is inelastic. Lithium is far from customers and while demand for cheap lithium is high there are lots of applications that will opt for some other way to provide power if the price gets too high.