Well NAM is not going to be going up on Lithium holdings anytime soon as there is an oversupply and electric cars - after all these years are not going to be sold in great numbers until Auto makers are either forced to make/sell them or oil/ gas becomes so unaffordable that demand goes up. (Electric Cars still make up less than 2% of all cars solds worldwide) Besides, NAM has Palladium holdings near sudbury far closer to minability so I am watching palladium pricing now.
According to Kitco's Anna Gulabova in article;
Watch palladium, gold, and silver prices as West sanctions Russia in response to Ukraine crisis; "Palladium stands out the most out of all precious metals, with Russia accounting for 39% of global refined supply. Palladium's prices have already surged 24% year-to-date. And any additional supply disruptions from Russia could lead to an even more significant jump, Hamilton warned."
"Supply uncertainty, supplemented by recovering auto production, has seen palladium prices rally … while Russia is expected to make up 9%, 6%, 11%, and 8% of gold, silver, platinum, and rhodium supply, respectively," the report said.
"On top of supply concerns, the safe-haven appeal of the precious metals is attracting more investors who are looking for safety amid a global stocks selloff."
Reference: https://seekingalpha.com/news/3801608-gold-miners-resume-upward-climb-on-new-ukraine-tensions