ILC’s turnaround is continuing under stewardship of the new Chairman/CEO. Restructuring the Canadian assets shifts the focus towards the Raleigh Lake deposit, which has geological similarities with a large, existing mine. For now, the key driver of ILC’s share price will be Mariana, its core lithium project in Argentina. Financial markets remain ambivalent towards explosive lithium demand growth and the related equities, believing that demand might be outpaced by supply. In stark contrast, corporates like auto suppliers, battery makers and ILC’s partner, the Chinese lithium major, Ganfeng, are accelerating their efforts to secure supply.