Although I have great respect for Macquarie as an institution,...

Although I have great respect for Macquarie as an institution, all they are doing is passing an opinion on an embryonic industry that nobody really knows everything about yet.

It has to be about supply, demand and cost to produce.

Is the world moving towards lower emissions? Yes.

Is the supply situation more complex than previously thought? Yes.

Are Brines (currently) the cheapest way of producing refined product? Yes.

With a fully funded stage 2, positive cash flow, falling (hopefully) costs, rising production and increasing demand: This stock ticks a lot of boxes. It may have been pushed around by traders and shorting activity, but imo it is one for the bottom drawer that will produce great returns for many years to come.