Rock Stock Channel

Is the critical minerals sell-off overdone? Why are lithium and rare earth stocks falling even as metal prices remain resilient and lithium producers report stronger-than-expected earnings? In this Rock Stock Recap, Howard Klein and Matt Fernley are joined by Tomasz Nadrowski of the Amvest Terraden Fund to unpack the critical minerals equity rout, the disconnect between lithium fundamentals and GFEX futures prices, and the impact of speculative trading, rising capital costs, and investor outflows. They also explore China's influence on critical minerals markets, geopolitical risks, and whether the recent sell-off is creating new buying opportunities in lithium, rare earths, and other strategic metals. Plus, a special update with First Phosphate (NASDAQ/CSE: PHOS) CEO John Passalacqua on the company's expanded mineral resources, G7 backing, project financing progress, and key milestones toward production. Join our Patreon Membership: https://www.patreon.com/cw/rockstockchannel/membership Mineral War By Tomasz Nadrowski: https://www.amazon.com/dp/B0GHDYRLZK Follow Guests: - Amvest Capital   LinkedIn (Tomasz Nadrowski): https://www.linkedin.com/in/nadrowski/   LinkedIn (Company): https://www.linkedin.com/company/amvestcapital/   X (Company): https://x.com/AmvestCap - First Phosphate:   LinkedIn (John Passalacqua): https://www.linkedin.com/in/john-passalacqua-964092257/   LinkedIn (Company): https://www.linkedin.com/company/first-phosphate/   X (Company): https://x.com/FirstPhosphate Our Socials: X (Howard) - https://x.com/LithiumIonBull X (Matt) - https://x.com/matt_fernley ___ Chapters (00:00:00) Earnings, Elections and the Critical Minerals Selloff (00:03:50) Lithium Earnings Strong, GFEX Disconnected (00:07:32) LME Week Takeaways From a Veteran Trader (00:10:49) Two-Tier US Economy, Oversold Materials (00:14:17) Brazil and Israel Elections Rattle Markets (00:19:48) Why Critical Minerals Equities Sold Off (00:27:09) Why Equities Diverge From Metal Prices (00:31:37) Where Investors Can Trade the Volatility (00:37:50) Winners, Policy and the Valley of Death (00:40:43) Brazil's New Mining Law and Election Fallout (00:45:18) Israel, Canada and the US Midterms (00:51:17) Rare Earth Truce and China's Leverage (00:58:29) Why Lithium Pricing Is Hard to Trust (01:06:28) First Phosphate Update Links Sign up for the Lithium-Ion Bull newsletter / Matt’s blogs: https://rkequity.com/ Questions: [email protected] Patreon: https://www.patreon.com/rockstockchannel Podcast   Apple Podcasts: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq Follow us on X (Twitter): Howard: https://x.com/LithiumIonBull Matt: https://x.com/matt_fernley Rodney: https://x.com/RodneyHooper13 Ben: https://x.com/benjihammond _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH. Howard, Matt, and Rodney are not financial advisors or broker-dealers. This video is provided for informational purposes only and should not be considered investment or financial advice. Please conduct 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

Why are lithium prices falling even as inventories shrink and global battery demand accelerates? In this week's Rock Stock Recap, Howard Klein and Matt Fernley unpack the critical minerals selloff, China's influence on lithium prices through the GFEX, and whether lithium and rare earth stocks are becoming oversold. They also discuss bullish battery demand signals from Tesla and CATL, the outlook for energy storage (ESS), rising financing costs, and whether tightening lithium supply could trigger the next price rally. Join our Patreon Membership: https://www.patreon.com/cw/rockstockchannel/membership Our Socials: X (Howard) - https://x.com/LithiumIonBull X (Matt) - https://x.com/matt_fernley ___ Chapters (00:00) Critical Minerals Carnage, Lithium Bright Spots (02:45) Lithium Sentiment from LME Week and SMM (07:30) Why Lithium Demand Forecasts Keep Missing (11:46) Why Critical Minerals Stocks Are Getting Hammered (16:29) Fund Flows, Rates and Midterm Risks (21:35) Higher Capital Costs Test Speculative Miners (26:16) Rare Earths Look Oversold (30:40) Project Vault Won't Fix Price Volatility (36:59) Rare Earth Processing: The Missing Middle (39:02) Energy Transition Versus National Security (42:06) Tesla and Asian Battery Makers Signal Strong Demand (48:23) Why Chinese Speculators Are Selling Lithium (54:40) Lithium Africa and Upcoming Earnings Links Sign up for the Lithium-Ion Bull newsletter / Matt’s blogs: https://rkequity.com/ Questions: [email protected] Patreon: https://www.patreon.com/rockstockchannel Podcast   Apple Podcasts: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq Follow us on X (Twitter): Howard: https://x.com/LithiumIonBull Matt: https://x.com/matt_fernley Rodney: https://x.com/RodneyHooper13 Ben: https://x.com/benjihammond _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH. Howard, Matt, and Rodney are not financial advisors or broker-dealers. This video is provided for informational purposes only and should not be considered investment or financial advice. Please conduct 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

Why are lithium prices falling while inventories continue to shrink? Is the lithium market being manipulated, or are investors misreading the fundamentals? In this week's Rock Stock Recap, Howard Klein and Matt Fernley examine the disconnect between lithium prices, falling inventories, and strong battery demand. They discuss potential manipulation in China's GFEX lithium futures market, Goldman Sachs' bearish lithium forecast, and why major producers like PLS and Liontown are investing billions in expansion despite the recent sell-off. They also explore critical minerals market volatility, lithium project valuations, financing opportunities, and what could drive the next lithium market recovery. Register for the NACM Summit (USE CODE 'ROCKSTOCK' for 20% off): https://www.nacmsummit.com/ Explore our Patreon Membership: https://www.patreon.com/cw/rockstockchannel/membership Our Socials: X (Howard) - https://x.com/LithiumIonBull X (Matt) - https://x.com/matt_fernley ___ Chapters (00:00) Lithium Bulls Challenge Bearish Forecasts (05:57) Rio Tinto Flags Lithium Supply Risks (07:59) Why Critical Minerals Are Selling Off (14:26) Lithium Producers Sell Off Indiscriminately (17:07) Lithium Prices Defy Falling Inventories (26:15) Lithium Demand Is Being Underestimated (30:02) PLS Expansion Drives Costs Lower (35:09) PLS Infrastructure Raises True Capex (39:59) Battery Inventories Hide Structural Changes (43:07) Strong Projects Still Attract Capital (45:11) Why Select Lithium Developers Stand Out (50:34) DLE Projects Attract Strategic Backing (54:00) Cash-Rich Developers Offer Opportunities (58:02) Why Batteries Deserve Strategic Support Links Sign up for the Lithium-Ion Bull newsletter / Matt’s blogs: https://rkequity.com/ Questions: [email protected] Patreon: https://www.patreon.com/rockstockchannel Podcast   Apple Podcasts: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq Follow us on X (Twitter): Howard: https://x.com/LithiumIonBull Matt: https://x.com/matt_fernley Rodney: https://x.com/RodneyHooper13 Ben: https://x.com/benjihammond _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH. Howard, Matt, and Rodney are not financial advisors or broker-dealers. This video is provided for informational purposes only and should not be considered investment or financial advice. Please conduct 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

Can Lithium Africa (TSXV: LAF) reach lithium production by 2027? Dr. Tom Benson, CEO of Lithium Africa, joins Rock Stock Channel to discuss high-grade lithium drill results at the Springbok Project in South Africa, the company's plans for a potential low-cost starter operation, and how project-level financing could generate cash flow without diluting shareholders. We also explore Springbok's district-scale exploration potential, the latest developments from Lithium Africa's joint venture with Ganfeng Lithium in Côte d’Ivoire, and upcoming catalysts, including further drill results, a maiden resource estimate and a preliminary economic assessment (PEA). LAF Presentation: https://wp-lithiumafrica-2026.s3.ca-central-1.amazonaws.com/wp-content/uploads/2026/10/13080130/2026_10-LAF_Corporate_Deck_Q3_Oct7-1.pdf Follow Lithium Africa: LinkedIn (Tom Benson) - https://www.linkedin.com/in/thomasrbenson/ LinkedIn (Company) - https://www.linkedin.com/company/lithium-africa/ X/Twitter (Company) - https://x.com/Lithium_afri ___ Chapters (00:00) Lithium Africa Project Overview (01:50) Springbok Drilling Confirms High-Grade Lithium (04:14) Springbok's 50km Exploration Potential (05:52) Springbok Targets Lithium Production In 2027 (08:12) Modular DMS Plant Could Accelerate Production (08:54) Project Financing Could Limit Shareholder Dilution (10:57) Existing Stockpile Could Kickstart Production (12:42) Ganfeng JV Advances Côte d’Ivoire Exploration (15:16) Upcoming Drill Results And Resource Catalysts (15:59) Springbok Financing And Development Timeline (17:28) Strengthening The Team For Production Links Sign up for the Lithium-Ion Bull newsletter / Matt’s blogs: https://rkequity.com/ Questions: [email protected] Patreon: https://www.patreon.com/rockstockchannel Podcast   Apple Podcasts: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq Follow us on X (Twitter): Howard: https://x.com/LithiumIonBull Matt: https://x.com/matt_fernley Rodney: https://x.com/RodneyHooper13 Ben: https://x.com/benjihammond _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH. Howard, Matt, and Rodney are not financial advisors or broker-dealers. This video is provided for informational purposes only and should not be considered investment or financial advice. Please conduct 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

Is Lithium Argentina (NYSE: LAR, TSX: LAR) undervalued? Could investors be getting its massive PPG lithium project for almost nothing? Sam Pigott, CEO of Lithium Argentina joins Howard Klein and Matt Fernley to explore the valuation disconnect between the company's market cap and its world-class lithium brine assets in Argentina. They discuss Cauchari–Olaroz's 70% cash operating margins, plans to more than double production to 85,000 tonnes annually, the 150,000-tonne PPG project, Ganfeng's financing partnership, and whether an ASX listing could help unlock shareholder value. Is the market overlooking one of the lithium sector's most compelling growth stories? LAR Corporate Presentation: https://investors.lithium-argentina.com/static-files/f0e5959e-9081-463f-a0f8-ba7b014c3238 Follow Lithium Argentina: LinkedIn (Sam Pigott) - https://www.linkedin.com/in/sam-pigott-9a3a1525/ LinkedIn (Company) - https://www.linkedin.com/company/lithium-argentina/ X (Company) - https://x.com/Lithium_ARG Our Socials: X (Howard) - https://x.com/LithiumIonBull X (Matt) - https://x.com/matt_fernley ___ Chapters (00:00) Is Lithium Argentina Deeply Undervalued? (08:30) Ganfeng Experience Drives LAR's Growth Strategy (13:31) Ganfeng Refinancing Protects Shareholders From Dilution (16:12) Why Cauchari Ranks Among Lowest-Cost Producers (21:00) Technical-Grade Carbonate Delivers Strong Margins (23:25) How Argentina's Cash Reaches Shareholders (26:19) Cauchari Expansion More Than Doubles Capacity (29:04) Argentina's Lithium Export Infrastructure Risks (30:56) DLE Could Accelerate Production Into 2028 (33:54) Funding PPG's 150kt (36:47) Why PPG's Valuation Could Surprise Investors (42:07) Swiss Headquarters And Ganfeng Takeover Protections (49:12) Could An ASX Listing Unlock Value? (53:03) Lithium Argentina's Long-Term Growth Ambitions Links Sign up for the Lithium-Ion Bull newsletter / Matt’s blogs: https://rkequity.com/ Questions: [email protected] Patreon: https://www.patreon.com/rockstockchannel Podcast   Apple Podcasts: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq Follow us on X (Twitter): Howard: https://x.com/LithiumIonBull Matt: https://x.com/matt_fernley Rodney: https://x.com/RodneyHooper13 Ben: https://x.com/benjihammond _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH. Howard, Matt, and Rodney are not financial advisors or broker-dealers. This video is provided for informational purposes only and should not be considered investment or financial advice. Please conduct 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