 So, good morning everyone. Thank you for coming so early. My pleasure once again to present into this conference and put an update on what Damascus has been doing in the last year. We've made a lot of progress and I would obviously like to share them with you. So, as you know, I'm the president and the founder, so I will be making forward-looking statement. You're warned. We've done a couple of nice videos and we'd like to share the advancement with you. This was shot in early December. The Wubursi project has been discovered in 1962-1963. Since that time it was dormant. We discovered this late 2009 when there was a big increase in demand for lithium that it researched. And since that time we're developing what is now known as the second world largest and richest deposit of spudging. It's going to put Quebec on map for about 10-15% of the world supply by 2020. For this project our schedule has always been very tight. We want to take the window or opportunity to be in production by the end of 2018. But we never sacrificed on the metallurgical testing and being able to make sure that we've designed the proper flow sheet for the concentrator and the conversion capacity in Chowenigan. We also decided that we would be doing the transformation into high-value lithium salts here in Quebec, taking advantage of hydroelectricity as the main reagent. So we involved and we expanded a lot of money into optimization of the flow sheet, optimization of the process, and also developing a new technique of making high-value lithium salts, lithium hydroxide, and lithium carbonate from spudging here in Quebec. So currently what we're targeting is to complete a 60,000 ton box sample with our small new dense media separation concentrator that we just installed. It's going to start in Q1 of 2017 and be operating throughout 2017 while we're building the large commercial concentrator that you see in the back. We hope to be putting this concentrator in the mind in full operation sometime in Q1, Q2 of 2018. So I suppose it did sound because I was absolutely frozen and the reason why I like to show this video usually when I'm presenting in a lithium conference there was a lot of Asian and Australian and everybody is wondering if we can mine in Quebec in winter so I like to show that yes there is road and we can survive even if it's cold. So the Namaskar what it is, it is to become a lithium hydroxide, lithium carbonate producer and by being vertically integrated that's a big big difference for us is the key to success. We are not like most of the Australian new producers or wannabe producers of spudging concentrate with the only end product going to the Chinese converters then dependent on the third party to make money on your back. So we decided that we would be vertically integrated from the mine to the end product that's what the value added is and because we're doing that in Quebec and because we own the reserve there's no intermediary so the cost of producing your lithium salt is by far by far cheaper than all the lithium sector in China. Obviously your main cost is the lithium unit so every time that you save $10, $50, $100 you multiply that by 7 or 8 and it's reflects in the cost at the end. So we decided to do that. One other thing that the advantage that we've developed over time we have decided and we always kept this way our track is to have our own internal team so we in the past had our own geological team when we went into the preliminary economic assessment mining engineers and we realized late in 2012 that finally it is not a mining project it is a chemical project so we decided to hire our own internal team of metallurgists and chemists to develop and continue optimizing the hydromete process that we're using to make lithium salts. So that's one of the advantage you have your corporate knowledge and you have also the capacity to really dedicate your team and effort on developing something that is worth. We also have our putting on the market the process to have the greenest and the cheapest way of making lithium salts. We'll have a little video describing the process itself and we are reducing the reagent used in the conventional process of making lithium salt by about 75%. We take 75 to 80% less sulfuric acid than the conventional process. We do not use soda ash. We use hydroelectricity in place as a replacement for the reagent. We regenerate the sulfuric acid therefore we don't need lime to neutralize it. We therefore do not produce gypsum. So a lot of advantage that we have found and that we're putting to the market. We have already signed 50% of the sales of 50% of our expected production so close to 14,000 ton of lithium carbonate equivalent sold to two clients Johnson Matty battery material the first one and FMC the second one. These are multi-year contracts and just to reassure the other players in the room that are coming into the market for lithium salt there is a market there is an interesting market because we decided to stop at 50% so we did not accept other offers to sell more. We could have sold over 100% so over 28,000 ton if we had wanted. We decided to stop at 50% because the the idea is that we wanted to have enough sales with credible clients to be able to support the debt service of what we want to put as debt on the project. So yes there's a market and yes there are people out there looking for reliable source of supply. The Mayan site is very well located and it has all the advantage required to make from this project a complete success. We have to know that the the main road that connect the James Bay to Shibugamo is going right across the the mine site and within 30 kilometers we have different infrastructures from Hydro-Quebec, an airport, electrical substation and even a camp that is available for us to eventually shelter our employees and is presently used for the construction people on site. The Cree community of Damasco is located at 30 kilometers. They are already busy helping with the construction and eventually will be the source of our employees. The mine site will extract 1.1 million ton of ore and the concentration will be done on site which will produce about 213,000 ton of pojiman concentrate. The ore will be carried by trucks. We expect to use six trucks of 100 ton capacity each. We expect to use the CN railroad to carry the material for the last 500 kilometers separating Shibugamo from Shawinigan. Every three days 1,800 tons of material will be convoyed by train to Shawinigan. The material will access the site from the northwest and will carry the material on the east side where unloading facility will allow the material to be either stockpiled on the reserve or feeding directly the plant for transformation. So yeah and I like other people from the team to join and present so in order to cut the cost we wanted to show the videos. That's why I introduced that in my presentation. One of the reasons we're able to move rapidly into production and Q1 of 2019 expected for the commercial plant is the fact that we have been able to acquire existing facility of a closed paper mill company and that's where we also were able to install our phase one plant. So a small the smallest commercial plant we could build to be able to engage client with mine representative samples, large samples coming from the mine and also being produced by a commercial size electrolyzer. So that phase one plant is currently up and running to treat lithium sulfate from a client and returning to it to him the lithium hydroxide produced by the electrolyzer. The ore from the mine will start being processed at the end of June and the idea is to be able to pre-qualify the product with clients while building the commercial plant. So this is well you've seen the video there was a lot more building this is Photoshop to show what it will like once the former owner has demolished all of the buildings. So a very very close to the hydroelectric dam we're gonna use about 40 to 50 megawatt of electricity to produce that 28,000 ton of this carbonate equivalent. So I'll present you another video here with the guys at the plant and talking about the process itself. The basis of the nemascal lithium technology is to use electrochemistry as a replacement of conventional chemistry. The use of electrochemistry allow us to use hydroelectric power to produce directly lithium hydroxide monohydrate and lithium hydroxide monohydrate is a chemical compound that has higher commercial value for the manufacture of lithium batteries. The nemascal lithium innovative process can be described in five main steps. We will receive mineral concentrate from Wabushi mine and the first step will be to extract the lithium from the mineral with sulfuric acid as a salt and then we dissolve the salt in water. The second step is to purify the solution in a similar manner as it was made for decades in the chlorocalli industry. Electrochemistry make it possible to replace the conventional chemical reagent used by the conventional chemical process and replace it by hydroelectric power. By doing so we eliminate byproducts and we drastically reduce the amount of reagent needed for the production of the lithium compound. At the heart of the process is the electro membrane process. On one side we use hydroelectricity to make lithium hydroxide and hydrogen as a byproduct and on the other side we produce sulfuric acid and oxygen. Lithium hydroxide is then sent to a last step. We do two crystallization to purify the lithium hydroxide and we end with the salt that will be used by battery makers. The use of electrochemistry and hydroelectric power also allow us to drastically reduce the amount of greenhouse gases emission directly related to the production of the lithium compound. Sulfuric acid is recycled in the process to replace 75 to 80 percent of the acid required to extract the lithium and hydrogen is reused as a source of energy in the process. All those recycles help to reduce the cost of production and improve the impact on the environment of the process. That is why Nimesca lithium obtained close to 16 million of non-refundable subsidies for the development and demonstration of this very innovative process. So what's the cost advantage? You see here the slide that was prepared in 2015 by Hatch and by Ruskill that was presented by Ruskill. You see in dark brown the cash cost of making the term hydroxide for the main producers around the world. Obviously to the left you see Rockwood with now Albemarle and SQM that's the Chilean operation and you see Chenchi, other China and Genfeng in the center which are spudgermain converters and FMC which is a brine producer in Argentina. So it immediately shows that it's not true that all brines are equal and it also shows that all brines don't have a cost advantage over the hard rock FMC being about equal to the hard rock lithium conversion in China. One two important things to look at this slide. First it's a blended technical and battery grade cost for everybody except us. We only have one grade it's a battery grade and also it takes into consideration that the the Chinese lithium sector is buying spudgermain concentrate at $430 per ton of 6% spudgermain concentrate CIF China and you see that we already have a quite a big margin difference. The reality since fall of 2015 is not that since the fall of 2015 when Chenchi decided to reduce the run of mine at Alisson it forced others like Genfeng to go and buy interest in an existing mine or develop other source or and therefore Genfeng currently is buying its spudgermain concentrate from the joint venture with Neomethal at $750 per ton CIF China. Remember it takes 7.5 ton of material to make one ton of finished product. The other Chinese that don't have the benefit to have a source of supply now need to go on the market and they are buying from Galaxy Resources. Galaxy Resources has a 5.5 to 6% spudgermain concentrate. If we assume 6% concentrate being shipped to China it's roughly $950 to $1000 CIF China. So you see that there's a big big big difference and the for once the Chinese cannot reduce and take advantage of their capacity of conversion because they are dependent on importing the raw material. So it gives us very large advantage on the cost structure because we do transformation and because we know we own the reserves. Very rapidly our feasibility studies still of 2016 initial 26 year mine life were fully permitted to mine 1.1 million ton of ore per year. That amounts to about 28,000 ton with some carbonate equivalent. So 2.4 year payback 30% IRR after tax $1.3 billion Canadian. So very interesting project very interesting project that we're currently financing to put in production. I spoke about the off-take agreements we signed rapidly but there's no there's nobody playing the market here so this is the capital structure. We have about what 350 360 million market cap even though Tracy we are doing good this year we're still lower than last year but the market softened a bit for all of the projects but in a very very good position to be able to move this project ahead. Our largest shareholder fully diluted is the Quebec government under ressource Quebec about 11%. Management owns about 10% fully diluted. We've been able to and we succeeded last summer of 2016 of raising 69 million dollars and of the 69 we raised 62 strictly from institutions so we're able to attract 32 new institutions worldwide so that bodes well for the future of the financing of the commercial project. One of the widely most widely covered Litsum stock. Eight different analysts covered the stock quite active on all the news that we are putting forward. So perfectly time to enter the train of supply. One of the lowest cost producer to be and by far the greatest production capacity on Litsum salts. We're supported and have been supported by the Quebec and federal government to develop this project. We have already signed large of take agreements so well pleased to enter the train of supply in a timely manner. Thank you very much.