Rock Stock Channel

In this episode, we welcome back William Adams and Przemek Koralewski from Fastmarkets to discuss recent developments in lithium markets, pricing dynamics, and emerging futures contracts on major exchanges. The conversation covers current supply-demand imbalances, factors influencing lithium price fluctuations, and potential inflection points investors may anticipate in the coming months and years. Key topics include: - Recent declines in lithium pricing and implications for producers and investors. - Analysis of lithium futures markets and the role of contracts on ICE and CME. - Discussion around marginal-cost producers and the economics of lithium supply. - Insights into battery technology advancements, including sodium-ion, and their potential impacts on lithium demand. - The influence of geopolitical tensions and the drive toward supply-chain localization. This discussion aims to provide retail investors with a balanced perspective on the lithium market's outlook, highlighting both short-term market realities and longer-term strategic considerations. CHAPTERS 📖 (00:00) ICE Announces New Lithium Contracts (03:35) Recent Lithium Price Trends (04:32) Supply Surge & Deficit Outlook (05:24) Market Analogies & Low-Grade Supply Potential (07:31) Growth of Lithium Futures Markets (09:29) Producer Margins & Potential Cutbacks (11:59) Carbonate vs. Hydroxide Pricing Shift (13:04) Emerging Battery Technologies Landscape (14:29) Geopolitical Tensions & Supply Chain Localization (17:23) Price Recovery Forecast & Hedging Strategies (25:07) Physical's Impact on Futures Market (28:03) Potential for Battery Cell Futures (29:44) CIF China vs FOB Australia Contracts (30:43) Closing Remarks _________________________________________________ Links 🌍 RK Equity Website: https://rkequity.com/ Patreon: https://www.patreon.com/rockstockchannel Podcast: Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq?si=a4ca356c45394648 X (Twitter): Howard: https://twitter.com/LithiumIonBull Rodney: https://twitter.com/RodneyHooper13 _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com Intro and outro audio credit: Jamie Klein

In this episode, we welcome back Ana Cabral, CEO of Sigma Lithium (NASDAQ/TSXV: SGML), to discuss the latest developments and outlook for the company. Ana provides a detailed overview of Sigma's Grota do Cirilo project in Brazil, highlighting its resource size, cost advantages, and ongoing expansion plans. We dive into Sigma Lithium’s recent operational results, including production growth, cost reductions, and strong EBITDA margins despite current lithium market conditions. Ana shares insights into the company’s commercial strategies, including considerations around flexible offtake agreements and potential prepayment structures. The conversation also covers broader industry themes, including the current dynamics in lithium pricing, global EV and battery demand trends, and the geopolitical advantages of operating in Brazil. Ana reflects on her recent participation in the Milken Institute Conference, sharing perspectives on the global energy transition and implications for lithium miners. Finally, we discuss valuation benchmarks, how Sigma compares to peers in the lithium sector such as Pilbara Minerals, and key considerations for retail investors evaluating lithium stocks in today's challenging market environment. Please note that RK Equity is an advisor to Sigma Lithium. The company will be releasing its official Q1 earnings on May 14th. CHAPTERS 📖 (00:00) Introduction (03:14) Grota do Cirilo Project Overview (06:35) Q1 Performance & Commercial Highlights (11:58) Plant 2 Expansion & 2025-26 Guidance (18:27) Offtake Flexibility & Prepayment Strategy (20:24) Geopolitical Advantages & Market Dynamics (27:06) Current Lithium Demand/Supply Dynamics (34:36) Milken Institute Conference: Energy Transistion (42:35) Valuation & Peer Comparison (48:20) Closing Remarks _________________________________________________ Links 🌍 RK Equity Website: https://rkequity.com/ Patreon: https://www.patreon.com/rockstockchannel Podcast: Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq?si=a4ca356c45394648 X (Twitter): Howard: https://twitter.com/LithiumIonBull Rodney: https://twitter.com/RodneyHooper13 _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com Intro and outro audio credit: Jamie Klein

In this episode, we sit down with Gabriel Marcelo Rubacha, CEO of Noa Lithium Brines (TSXV: NOAL), for an in-depth update on their three Argentine brine projects—Rio Grande, Arizaro, and Salinas Grandes. We cover: 📈 Noa Lithium’s recent 58% YTD stock gain, tight share structure, and Clean Elements’ C$13.5M strategic investment 🌎 Why Argentina’s salar brines are the world’s lowest-cost lithium source and Rio Tinto’s US$10B bet on the region 🗺️ Project deep dive: high-grade 4.7 Mt @525 mg/L resource at Rio Grande, exploration potential at Arizaro, and infrastructure-rich Salinas Grandes 💧 Ongoing water-well drilling results and why securing industrial water is critical for process design 📊 Hatch-led PEA timeline targeting 20,000 tpa initial production and scalability to 40,000 tpa (Q3 results expected) 🤝 Funding strategy and ideal partner profile to transition from exploration to production 📅 Join us at the Fastmarkets Lithium Conference (June 23–26) in Las Vegas—email [email protected] to connect with Rodney and me as well as Gabriel CHAPTERS 📖 (00:00) Introduction (03:03) Summary Synopsis (04:40) Overview of Noa Lithium's Three Key Projects (07:44) Regional Competitors and Government Support (12:13) Water Drilling Campaign and PEA Milestones (15:50) Funding Strategy and Partnership Criteria (21:38) Development Timeline (25:18) Closing Remarks _________________________________________________ Links 🌍 RK Equity Website: https://rkequity.com/ Patreon: https://www.patreon.com/rockstockchannel Podcast: Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq?si=a4ca356c45394648 X (Twitter): Howard: https://twitter.com/LithiumIonBull Rodney: https://twitter.com/RodneyHooper13 _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com Intro and outro audio credit: Jamie Klein

In this episode, I catch up again with Andrea Hotter, Special Correspondent at Fastmarkets, to dive into the shifting landscape of critical minerals and commodities. Andrea recently attended the Securing America’s Future Energy (SAFE) summit in Washington, D.C., and shares valuable insights on how policy narratives have dramatically shifted—from ESG and climate change to national and energy security. We discuss major developments, including the impact of reciprocal tariffs, government funding for critical minerals projects, and the evolving role of foreign investors and allies like South Korea, Japan, and Chile. Andrea also highlights the massive implications of new U.S. executive orders aimed at fast-tracking project permitting and the potential introduction of equity investments by the U.S. government into strategic mining and processing projects. Later, we explore one of the most fascinating yet controversial developments: deep-sea mining. Andrea provides perspective on recent executive moves toward commercializing seabed minerals, including nickel, cobalt, copper, and rare earths, while examining the risks and opportunities in this emerging field. Finally, we touch on investment opportunities in both mainstream and niche commodities markets, from lithium and copper to lesser-known critical metals. We examine how the growth of liquid derivatives contracts, including those recently launched by the Intercontinental Exchange (ICE) with Fastmarkets, is transforming commodities into more investable markets. Be sure to subscribe for more insights into commodities investing, market trends, and policy developments. CHAPTERS 📖 (00:00) Introduction (03:20) Key Takeaways from Securing America's Future Energy Summit (06:52) Impact of Tariffs on Battery-Grade Material Investments (10:40) Government Support, Financing Tools, and Permitting Challenges (30:24) Opportunities and Controversies in Deep-Sea Mining (40:45) Navigating Mainstream vs. Niche Critical Minerals Investments _________________________________________________ Links 🌍 RK Equity Website: https://rkequity.com/ Patreon: https://www.patreon.com/rockstockchannel Podcast: Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq?si=a4ca356c45394648 X (Twitter): Howard: https://twitter.com/LithiumIonBull Rodney: https://twitter.com/RodneyHooper13 _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com Intro and outro audio credit: Jamie Klein

In this Rock Stock Recap episode, Rodney and I share our latest insights following Trump's Liberation Day and the unfolding impacts of recent U.S. tariff policies, drawing striking parallels to past global shocks such as the onset of COVID-19 and historical events like the Cuban Missile Crisis. We delve deep into Stephen Miran's pivotal analysis on restructuring the global trade system, highlighting crucial policy discussions around phased tariffs, the intentional managed decline of the U.S. dollar, and how these strategies could influence commodity markets, particularly critical minerals. We also explore the potential "Mar-a-Lago Accords" and speculate on how shifts in U.S. monetary policy might ignite a new natural resource bull market. Additionally, we address strategic U.S.-China relations, specifically the prospects of increased Chinese direct investment into the American EV battery supply chain and its broader economic implications. Tune in as Rodney and I dissect the broader geopolitical dynamics, key market movements, and emerging investment opportunities in lithium and other critical minerals. Stay informed on the evolving strategies shaping our global economic future. Don’t forget to like, comment, and subscribe for more deep dives into critical mineral markets! CHAPTERS 📖 (00:00) Introduction: Market Volatility and Tariff Uncertainty (02:31) G&R and Steve Miran's Insights: A Global Monetary Shift? (08:55) Lithium Market Hopes: A Potential U.S.-China Grand Bargain (11:01) Rodney's View: Managed Dollar Decline and Commodity Impact (13:25) China's Technological Leap: From Toys to EVs and Robotics (16:41) Tariff Strategy: Phase-In vs. All-In Approach (19:51) China's Struggle with Domestic Consumption Growth (21:51) Debt Culture: Comparing U.S. and China Economic Structures (25:06) Who Blinks First? U.S. vs. China in the Trade Stand-Off (26:39) Globalized Supply Chains: Risk Exposure in Prolonged Tariff Wars (30:01) Citi's Lithium Outlook: Oversupply and Price Pressures (31:08) Lithium Equities: Evaluating Current Valuations (33:58) BYD and CATL Innovations: The Competitive Threat (37:18) Canadian Election Impact on Critical Minerals Strategy (40:13) Chile's Political Landscape: Implications for Lithium Supply (41:30) SQM, Tianqi, and China's Strategic Moves in Chile (43:43) Evaluating U.S. Critical Minerals Investments Amid Oversupply (47:09) Future Demand: Electrification, Robotics, and Lithium Supply (48:13) Closing Thoughts: Navigating Volatility and Opportunity _________________________________________________ Links 🌍 A User’s Guide to Restructuring the Global Trading System: https://www.hudsonbaycapital.com/documents/FG/hudsonbay/research/638199_A_Users_Guide_to_Restructuring_the_Global_Trading_System.pdf Mark Carney on Scott Galloway: https://open.spotify.com/episode/78egStLrUdyUMfchC5pw4Q?si=ODg0z_iNTkGzEFszosU-tg RK Equity Website: https://rkequity.com/ Patreon: https://www.patreon.com/rockstockchannel Podcast: Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq?si=a4ca356c45394648 X (Twitter): Howard: https://twitter.com/LithiumIonBull Rodney: https://twitter.com/RodneyHooper13 _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com Intro and outro audio credit: Jamie Klein

In this episode, I sit down again with Keith Coughlan, Managing Director of European Metals Holdings ($EMH), to discuss the latest major milestone for the Cinovec lithium project in the Czech Republic. EMH has secured final approval for a significant $36 million grant from the EU’s Just Transition Fund, highlighting strong support from both the Czech government and the European Commission. Keith shares insights into how EMH plans to use the funds to accelerate the project, including meeting important environmental assessment deadlines and progressing the definitive feasibility study (DFS). We also explore the broader context of Europe's push for strategic independence in critical minerals, potential financing pathways involving European financial institutions, and ongoing discussions with European OEMs regarding lithium offtake. Tune in for Keith's thoughts on lithium pricing dynamics, carbonate vs. hydroxide strategy, and how EMH intends to attract top-tier European partners to finance and offtake lithium from what remains Europe's largest hard-rock lithium resource. CHAPTERS 📖 (00:00) Introduction and Overview of European Metals Holdings (01:44) Significance of EU Just Transition Fund Grant (03:18) Grant Conditions: Environmental Impact Assessment Timeline (04:54) Status Update on Definitive Feasibility Study (DFS) (06:05) Understanding the Just Transition Fund and Grant Drawdown Process (08:34) Funding Strategy and Role of European Investment Bank (12:44) Dialogue with Western OEMs and Offtake Strategy (14:46) Potential Role of Chinese Partners in Project Development (16:26) Structuring Offtake Agreements for Cinovec Project (18:55) Product Strategy: Carbonate vs Hydroxide (19:37) Closing Remarks _________________________________________________ Links 🌍 RK Equity Website: https://rkequity.com/ Patreon: https://www.patreon.com/rockstockchannel Podcast: Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq?si=a4ca356c45394648 X (Twitter): Howard: https://twitter.com/LithiumIonBull Rodney: https://twitter.com/RodneyHooper13 _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com Intro and outro audio credit: Jamie Klein

In this episode, we continue our 'Getting to Know You' series with Jindalee Lithium (ASX: JLL). The discussion revolves around Jindalee's advancement of the McDermitt Lithium Project in Oregon and its strategic significance, especially considering the recent $3 billion investment in the adjacent Lithium America's Thacker Pass Project. The episode covers the impact of recent US government measures, including an executive order to boost American mineral production and the FAST-41 initiative, which has highlighted 10 critical mineral projects, including Jindalee's. CEO Ian Rodger delves into the project's scale, geology, and the significance of Jindalee being selected under FAST-41. Further discussions include the company's financial status, strategic partnerships, and upcoming Development Feasibility Study (DFS). The episode also addresses the broader context of the US government's support for domestic lithium production and the implications for Jindalee's future prospects. CHAPTERS 📖 (00:00) Jindalee Lithium Overview (00:43) U.S. Lithium Investment and National Policy Updates (01:50) Summary Synopsis (03:11) Overview of the McDermitt Lithium Project (04:31) Significance of FAST-41 Designation (07:08) Transition to a Pure Play Lithium Company (08:22) Strategic Partnership Engagement (09:26) Plans for Definitive Feasibility Study (DFS) (11:07) Status of Environmental Permitting and Drilling Plans (12:14) Update on Potential DOD Grant Application (13:10) Comparison to Peer Projects and Government Support (16:39) Importance of Federal and State Collaboration (17:45) Market Conditions and Long-Term Outlook (18:48) Closing Remarks _________________________________________________ Links 🌍 RK Equity Website: https://rkequity.com/ Patreon: https://www.patreon.com/rockstockchannel Podcast: Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq?si=a4ca356c45394648 X (Twitter): Howard: https://twitter.com/LithiumIonBull Rodney: https://twitter.com/RodneyHooper13 _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com Intro and outro audio credit: Jamie Klein

In this episode, we break significant news in the critical minerals and energy transition space, featuring Caspar Rawles, COO of Benchmark Minerals Intelligence (BMI). Rawles announces a landmark partnership between Benchmark and the Intercontinental Exchange (ICE) to launch a suite of futures contracts for lithium, cobalt, and spodumene—marking ICE’s first move into the mining sector. The contracts, which will be cash-settled and based on Benchmark’s globally respected price assessments, represent a major evolution in how critical minerals are traded and hedged. The offerings include lithium carbonate and lithium hydroxide CIF Asia, spodumene concentrate FOB Australia, and cobalt hydroxide CIF Asia. Rawles underscores that the lithium market remains relatively immature and volatile, with current futures options—such as those on Chinese exchanges—lacking global accessibility due to regulatory, political, and liquidity concerns. The ICE-Benchmark partnership aims to address these gaps with more transparent, accessible, and globally accepted instruments. For investors, the implications are substantial: - Hedging Opportunities: Companies across the EV and battery supply chains will now have access to trusted futures products to hedge against lithium price volatility—historically one of the biggest challenges in this sector. - Market Maturity: Futures tied to Benchmark’s physical-market-oriented pricing data offer enhanced credibility and are already written into many long-term commercial contracts. - Project Finance Enablement: By providing tools to manage commodity price risk, the contracts could make it easier for mining developers to secure financing—a critical step, given that lithium production needs to quadruple over the next decade to meet demand. - Liquidity Roadmap: Initial contracts may offer maturities of up to two years, with the goal of extending further as liquidity builds and institutional participation deepens. - Strategic Differentiation: The inclusion of spodumene futures, which have not previously existed in standardized form, is a unique addition, catering directly to the evolving procurement strategies of OEMs and battery manufacturers. Rawles also discusses the structure of credit and clearing, noting that ICE Clear Europe will handle clearing functions, with most transactions expected to be routed through banks or financial institutions already active on ICE platforms. Finally, investors are invited to attend a formal Benchmark webinar on May 1st and consider attending the Benchmark Giga USA Conference in Washington D.C. this June—key touchpoints for understanding how these market developments will impact lithium and broader energy transition investments. CHAPTERS 📖 (00:00) ICE-Benchmark Minerals Partnership (00:56) Details of the New Futures Contracts (01:29) Why Existing Lithium Futures Aren't Enough (03:07) Benchmark's Role and Data Credibility (04:03) Upcoming Benchmark Webinar Announcement (04:41) Connection Between Physical Market and Futures (05:45) Use of Benchmark Prices in Long-Term Contracts (07:11) Contract Duration and Market Liquidity Goals (09:34) Managing Credit Risk and Clearing Structures (11:15) Banks and Financial Institutions as Key Players (12:15) Margin Requirements and Contract Regulation (13:00) Expected Launch Timeline for Trading (13:32) Value of Hedging Spodumene in the Supply Chain (16:42) ICE's Strategic Focus on Energy Transition Metals (17:38) Closing Remarks _________________________________________________ Links 🌍 Benchmark Webinar: https://www.benchmarkminerals.com/events/bmi-ice-the-next-stage-in-lithium-price-transparency RK Equity Website: https://rkequity.com/ Patreon: https://www.patreon.com/rockstockchannel Podcast: Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq?si=a4ca356c45394648 X (Twitter): Howard: https://twitter.com/LithiumIonBull Rodney: https://twitter.com/RodneyHooper13 _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com Intro and outro audio credit: Jamie Klein

In this episode, Howard and Rodney speak with Craig Shesky, CFO of The Metals Company (NASDAQ: TMC), discussing recent developments and strategic direction in deep-sea mining. The conversation highlights TMC’s business model focused on collecting polymetallic nodules containing nickel, cobalt, manganese, and copper from the seabed in the Clarion Clipperton Zone, between Hawaii and Mexico. Craig outlines TMC’s recent decision to pursue permitting through existing U.S. legislation—the Deep Seabed Hard Minerals Resource Act of 1980—instead of waiting for the International Seabed Authority (ISA) to finalize its mining code. He explains NOAA's (National Oceanic and Atmospheric Administration) role in this process and expects permitting completion by 2026. The episode also covers TMC’s project economics, referencing Cantor Fitzgerald's analysis that values the company's NORI-D project alone at approximately $4 billion (NPV10), with projected production of 103,000 tons of nickel, 68,000 tons of copper, and 6,000 tons of cobalt annually at full capacity. The project's capital-light model anticipates upfront capital requirements of around $170 million, supported by partnerships with marine contractor Allseas and Japanese processing firm PCO. Additionally, Craig addresses broader market dynamics for nickel, particularly Indonesia’s dominance and how TMC’s resource quality (around 3% nickel-equivalent grade) positions the company competitively. He further provides insights into TMC’s shareholder structure, recent funding activities—including a $17.5 million equity raise at $1 per share—and outlines near-term milestones, including submission of permitting applications and the anticipated release of an updated Pre-Feasibility Study (PFS). Investors will find detailed discussions on regulatory considerations, environmental impact assessments, geopolitical implications, and financial outlooks that underscore TMC’s potential role in reshaping critical minerals supply chains amid increased geopolitical tensions. CHAPTERS 📖 (00:00) Overview of The Metals Company (07:32) Resource Quality, Commodity Exposure, and Profitability (10:37) Proven Processing Strategy and International Partnerships (12:39) Regulatory Challenges at the ISA vs. U.S. Framework (18:36) U.S. Critical Mineral Strategy and TMC's Role (21:27) Upcoming Milestones: Permitting, Applications, and PFS (24:31) U.S. Permitting Process: NEPA and NOAA Oversight (28:22) Strategic Positioning vs. Land-Based Mining Challenges (31:42) Nickel Market Outlook: Indonesia, China, and TMC's Edge (34:26) Closing Remarks _________________________________________________ Links 🌍 TMC Investor Deck: https://investors.metals.co/static-files/a3609ed1-fab9-4b97-a00f-63a255091de9 RK Equity Website: https://rkequity.com/ Patreon: https://www.patreon.com/rockstockchannel Podcast: Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq?si=a4ca356c45394648 X (Twitter): Howard: https://twitter.com/LithiumIonBull Rodney: https://twitter.com/RodneyHooper13 _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com Intro and outro audio credit: Jamie Klein

In this episode, Howard sits down with Ashley Zumwalt-Forbes, former Director of the Manufacturing and Energy Supply Chains Program at the U.S. Department of Energy, to discuss the evolving landscape of critical minerals and energy policy in the United States. They explore the key differences between the Biden and Trump administrations' approaches to EV batteries and critical minerals, the future of lithium and other essential battery materials, and whether America can remain competitive in a rapidly shifting global market. Ashley shares her insights on how geopolitical tensions, policy instability, and market volatility are impacting investment decisions, and why she remains cautiously optimistic about the potential for building a robust domestic supply chain. CHAPTERS 📖 (00:00) Guest Background (04:40) Trump vs. Biden on Energy and Supply Chains (08:54) Canada-U.S. Dynamics in Critical Minerals (13:11) Does Trump Care About Battery Materials? (18:08) The Fate of the EV Tax Credit (30D) (20:43) Battery Demand and Project Viability (23:18) EVs as a Strategic Industry Debate (27:22) Evaluating U.S. Competitiveness in Battery Tech (29:49) Which Critical Minerals Are Investable? (32:50) U.S. Lithium Resource Potential and Smackover Basin (34:36) Status of Government Grants and Loans (36:05) Early vs. Late Stage Project Funding (40:06) Federal Land Access for Strategic Development (41:32) Where To From Here? _________________________________________________ Links 🌍 Ashley on Fastmakrets: - https://www.youtube.com/watch?v=YW4lD9blYmM - https://www.youtube.com/watch?v=WqsxvP7__1k Ashley on Benchmark Minerals: - https://www.youtube.com/watch?v=eu83u-CR6co - https://source.benchmarkminerals.com/video/watch/mesc-grants-boosting-the-us-domestic-battery-supply-chain-panel RK Equity Website: https://rkequity.com/ Patreon: https://www.patreon.com/rockstockchannel Podcast: Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq?si=a4ca356c45394648 X (Twitter): Howard: https://twitter.com/LithiumIonBull Rodney: https://twitter.com/RodneyHooper13 _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com Intro and outro audio credit: Jamie Klein

In this episode, I join Ash Bennington on Real Vision to discuss the dramatic shifts happening in the world of critical minerals, lithium pricing, and global energy policy. We explore lithium's recent price collapse, why I'm still bullish long-term, and how geopolitical forces—including tariffs and supply chain realignments—are reshaping commodities markets. I also highlight key investment opportunities across lithium, copper, uranium, and broader mining ETFs. Stay tuned until the end as I briefly spotlight one overlooked opportunity in the electrification space. CHAPTERS 📖 (00:00) Overview of the Interview (01:03) Lithium Price Collapse and Long-Term Outlook (03:59) The Commodity Cycle: Boom, Bust, and Future Demand (04:55) Tariffs, Supply Chains, and Market Volatility (06:55) Fiscal Stimulus, Interest Rates, and Inflation Dynamics (08:58) US-China Trade Tensions and Critical Minerals Policy (09:37) The Age of Electricity: AI, Robotics, and Energy Demand (11:24) The Case for a New Commodity Supercycle (14:07) Inflation Reduction Act vs. Trump's Energy Policy (17:39) Understanding Lithium Pricing and Market Structure (24:38) Chart: Commodities vs. the Dow: Historic Undervaluation (31:07) Chart: Mine Supply Requirements for the Energy Transition (33:35) Implications of "Energy Addition" and Global Demand Growth (34:35) China's Dominance and U.S. Mineral Supply Strategy (36:54) Commodities as Inflation Hedges and Investment Themes (38:25) Capital Discipline, M&A Activity, and Market Rotation (40:00) How Retail Investors Can Play the Commodity Upside (40:52) Recommended ETFs: PICK, COPX, URA (44:46) Lithium Investment Ideas: ALB, LITP, LIT (46:40) Stock Picks: Piedmont, Lithium Argentina, and M&A Potential (48:14) Final Thoughts: Risks, Rewards, and Long-Term Opportunities (50:38) Bonus Highlight _________________________________________________ Links 🌍 RK Equity Website: https://rkequity.com/ Patreon: https://www.patreon.com/rockstockchannel Podcast: Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq?si=a4ca356c45394648 X (Twitter): Howard: https://twitter.com/LithiumIonBull Rodney: https://twitter.com/RodneyHooper13 _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com Intro and outro audio credit: Jamie Klein

In this episode, we sit down once again with Bill Willoughby, CEO of Century Lithium (TSXV: LCE.V, OTCQX: CYDVF), to discuss the latest developments at their Nevada-based lithium project, Angel Island. We cover the company’s unique chlor-alkali processing method, recent optimization studies, and the impact of the U.S. government’s executive order to accelerate domestic mineral production. Bill shares insights on Century’s permitting progress, strategic partnerships, and the potential for significant CAPEX reductions. CHAPTERS 📖 (00:00) Introduction (01:30) Summary Synopsis (03:11) Overview of the Angel Island Project (03:51) Unique Chlor-Alkali Processing Technology (04:34) Impact of U.S. Executive Order on Mineral Production (05:54) Government Engagement and Permitting Strategy (08:22) Optimization Study and Potential CAPEX Reduction (09:27) Feasibility Study Update Plans and IRR Expectations (10:33) Sodium Hydroxide Pricing and Supply Stability (12:02) Strategic Advantage of Water Rights in Clayton Valley (13:09) Nevada as a Mining-Friendly Jurisdiction (14:16) Pilot Plant Progress and Battery-Grade Lithium Output (15:41) Strategic Partnerships and Offtake Interest (16:53) Feasibility Study Timeline (17:32) Permitting Process and Federal Support Opportunities (19:54) Chlor-Alkali vs. Sulfuric Acid Leach: A Comparison (22:58) Environmental and Logistical Advantages of Century’s Approach (24:06) Market Conditions and Valuation Outlook (25:21) Closing Remarks _________________________________________________ Links 🌍 RK Equity Website: https://rkequity.com/ Patreon: https://www.patreon.com/rockstockchannel Podcast: Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq?si=a4ca356c45394648 X (Twitter): Howard: https://twitter.com/LithiumIonBull Rodney: https://twitter.com/RodneyHooper13 _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com Intro and outro audio credit: Jamie Klein

In this episode, we sit down with Alex Wylie, CEO of Volt Lithium (TSXV: VLT, OTCQB: VLTLF), to discuss the company's innovative approach to lithium extraction from oilfield brines. Alex shares insights on Volt's low-CAPEX strategy, proprietary technology, and rapid scale-up from pilot projects to commercial operations. With significant opportunities in the Permian Basin, Texas, and expansion plans in North Dakota's Bakken, Volt Lithium aims to become a leading domestic lithium supplier serving the underserved U.S. industrial market. CHAPTERS 📖 (00:00) Introduction (02:37) CEO Background and Origins of Volt Lithium (05:35) Proprietary Extraction and Processing Technology (07:17) Low-CAPEX Model and Infrastructure Advantage (09:42) Product Capabilities: Chloride, Carbonate, Hydroxide (10:57) Tailored Technology Across U.S. Basins (12:22) CAPEX Efficiency and Competitive Cost Per Ton (13:12) Industry Partnerships and Brine Access (15:08) Revenue-Sharing Models with Oil Producers (16:15) North Dakota Grant and Bakken Expansion Plans (17:30) Commercial Unit Build Timeline and Deployment (19:49) Scalability and Expansion Strategy (20:52) Capital Position, Grants, and Recent Financing (22:26) U.S. Operations and Corporate Transition (24:03) Why the Permian Basin is a Unique Opportunity (25:27) Upcoming Milestones and News Flow (26:31) Closing Remarks _________________________________________________ Links 🌍 RK Equity Website: https://rkequity.com/ Patreon: https://www.patreon.com/rockstockchannel Podcast: Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq?si=a4ca356c45394648 X (Twitter): Howard: https://twitter.com/LithiumIonBull Rodney: https://twitter.com/RodneyHooper13 _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com Intro and outro audio credit: Jamie Klein

In this episode, Eric Desaulniers, CEO of Nouveau Monde Graphite provides insights into the company's significant investments and development journey, including their $150 million expenditure on demonstration plants. He discusses the binding offtake agreements with GM and Panasonic, their updated feasibility study, and potential grant funding opportunities. Eric also covers the increasing traction of LFP Cathode technology, its impact on graphite usage, and anticipates a potential supply deficit in the graphite market within three years. CHAPTERS 📖 (00:00) Introduction (01:05) Summary Synopsis (03:17) Recap of Ongoing Graphite Project Development (06:16) Strategic Offtake Agreements with GM and Panasonic (08:15) Details of the Updated Feasibility Study (10:31) Role of Tax Credits in Improving Project Economics (11:44) Government Support and Political Backing in Canada (13:05) Cross-Border Trade and Tariff Considerations (15:49) Status of Project Financing and Next Steps (16:58) Potential New Customers and Market Expansion (17:57) Impact of LFP Battery Growth on Graphite Demand (19:24) Global Graphite Supply Outlook and Pricing Trends (23:28) GM’s Strategic Role and Political Implications (27:14) Canadian Election and Critical Mineral Policy (32:12) Closing Remarks _________________________________________________ Links 🌍 RK Equity Website: https://rkequity.com/ Patreon: https://www.patreon.com/rockstockchannel Podcast: Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq?si=a4ca356c45394648 X (Twitter): Howard: https://twitter.com/LithiumIonBull Rodney: https://twitter.com/RodneyHooper13 _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com Intro and outro audio credit: Jamie Klein

In this episode, we speak with Tavi Costa, partner at Crescat Capital, about global macroeconomic shifts, rising gold prices, and the potential rotation from large-cap tech into commodities. Tavi explains why he sees significant opportunities in gold, silver, and emerging markets amid a weakening dollar and ongoing de-globalization. We dive into how policy decisions, geopolitical trends, and market valuations are shaping investment strategies, including what this means for metals like copper, silver, and lithium. CHAPTERS 📖 (00:00:00) Introduction (00:03:06) Why Tavi Doesn’t Own Physical Gold (00:07:31) What's Driving Gold’s Rally (00:11:28) Potential for Gold-Backed Alternatives (00:15:31) De-Globalization and Onshoring Trends (00:19:51) The Future of Lithium and Humanoid Robots (00:23:03) Copper and Silver Defying Recession Concerns (00:26:16) Are Trump's Tariffs here to stay? (00:28:35) The Dollar’s Role and Manufacturing Comeback (00:33:40) AI Arms Race: U.S. vs China and the Chip Narrative (00:36:18) Will Liquidity Return and Fuel Hard Assets? (00:38:38) Emerging Markets: Value or Value Trap? (00:46:39) Gold Equities vs Base Metals: Valuation Perspectives (00:54:24) U.S. Gold Reserves and National Policy Implications (00:58:15) Could the U.S. Subsidize Domestic Gold Mining? (01:02:21) Risks, Speculation, and What Comes Next _________________________________________________ Links 🌍 RK Equity Website: https://rkequity.com/ Patreon: https://www.patreon.com/rockstockchannel Podcast: Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq?si=a4ca356c45394648 X (Twitter): Howard: https://twitter.com/LithiumIonBull Rodney: https://twitter.com/RodneyHooper13 _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com Intro and outro audio credit: Jamie Klein