 Today, I have the pleasure of speaking with Jack Lifton, our number one editor at Investor Intel. How are you today, Jack? I'm fine, Tracy. How are you? Jack, I'm going to hit you right with Mollicorps, right out of the gates here. What's happening with Mollicorps and what is your conclusion based on, I don't know, Robin Bromby's latest piece, that this is just an absolute catastrophe for our market sector? It's not good news for the market sector because so many people have focused on only Mollicorps. But Mollicorps was, as you know, I haven't made a secret of the fact that I thought their business model was flawed from the first day in that they were focusing on producing the least desirable sector of the rare earths for the most part. Of any light-wear earth deposit, 75 or 80 percent is cerium and lanthanum, which currently are the least valued rare earths in volume production. And the fact is the Mollicorps mine has only 11 or 12 percent of neodymium and preziodymium, the magnet metals. So compare it with Linus at 23 percent, or I think that peak resources might have even a higher percentage than that. There are many, many deposits that have a better percentage than that. So the Mollicorps situation was that it was high-grade and high-hype, but it was really just a part of the solution. The solution is the total supply chain and always has been. So it was not a good idea, it failed, it's not a surprise that not a good idea fails. So I think that last year's contribution of Mollicorps at the global rare earths market was basically unimportant. So I accept the fact that it is a sad day for shareholders of Mollicorps who were long-term shareholders. They've lost all the value. But in general, this has been a rock thrown in the ocean. The ripples of long ago settled. Most disappearances of no particular impact on the genuine rare earth market. Before we leave the Mollicorps topic, let's talk about neomaterial technologies, though, that they acquired. I mean, they're still producing. Are they not? What's happening with neomaterial? Well, I don't know what's happening with the ownership. But neomaterials I don't think has missed a beat in ten years. Neomaterials never depended on the mountain pass mine for raw material. It's always been able to buy raw material in China at much lower prices. In my opinion, if they took anything from Mollicorps, California, it was for political purposes in their own company's bureaucracy. But if NEO survives, it'll be just fine. It's a well-managed, well-run company, and it's doing the right thing. Our headline from Hongpo this morning was the Chinese collapse. I keep seeing collapse of rare earth prices. I don't know. I mean, disasters, collapses, I think these are all overstatements. But you're the senior expert here between the two of us, Jack. Do we have a collapse of the Chinese rare earth prices? I mean, considering most of the Chinese rare earths are being, many of them are being smuggled to the Japanese, I'm not really sure how this affects smuggling prices. Well, I want you to keep in mind perspective. Japan imports 56% of the exports of Chinese rare earths. Understand that Japan is the major customer for China, the major customer in the world. Okay? Do you think the Japanese think this is a bad idea? I'll bet they're happy. They can't wait. Now, Hongpo noted that the Japanese are buying inventory. Of course they are. It's a fire sale. The Japanese buying inventory tells you they know this is a bottom and it won't last. They're just stocking up on the good stuff while they can get it cheap. Believe me, this won't last. Is there chaos in the rare earth market in China? Yes. Is there chaos in Chinese economics? Yes. I'm going to discuss that at the Technology Metals Summit in more detail. But of course there is, but this is a bottom. It's chaos. It's a fire sale, ladies and gentlemen. It comes to an end with the rebuilding of the structure and prices will go back to normal supply demand driven. Well, I love the way you're describing it as a fire sale and I did enjoy the fact that of course investor Intel was revealing the Japanese are of course starting to stockpile with these sales. Speaking of the Technology Metals Summit, you have sent me what you're going to be kicking off the event with and I'd love to get you excited about shortening this title. We've got the impact of China's economic turmoil upon the Technology Metals supply chains and how to lessen such impact in the future problems, hurdles and solutions. Can you give us a little bit of an understanding about what will be included in that topic? Obviously, the impact of Chinese prices is going to be part of that. Yes, but Tracy, what I'm going to talk about is all of the Technology Metals. It's not just rare earths. Technology Metals, there are about 40 of them. Let's talk about the whole thing. China happens to be the principal producer of more than half of the Technology Metals, but it is not the producer of the other half. It's the importer. We need to focus on the world Technology Metals markets. China is a big part of some of them. China impacts all of them. China impacts the global economy, something fierce. I believe Chinese is probably the world's biggest trading nation by a dollar, or excuse me, renminbi volume. That's we're going to discuss all of that. What I really want to point out to the investors and the companies is that there's a bright future for producing and processing Technology Metals. Stop thinking about just one part of the supply chain. This is a total supply chain issue. We have to address all of the Technology Metals markets from the point of view of the total supply chain. In fact, these markets are driven by end users, not miners. Keep that in mind. More to come. Okay. I'm excited about that. And speaking of that, I want to ask you about a hot topic behind the scenes here at Investor Intel right now. Speaking of the supply chain and other Technology Metals, a lot of people interested in Scandium Yes. Yes. Any comments on why all of a sudden this this metal to which there wasn't very much demand all of a sudden seems like every billionaire I know that understands Technology Metals has to get a piece of a Scandium property. Well, as a non-billionaire, let me say this. The Scandium, I was very skeptical of Scandium for about the last 50 years. Right now, I'm very bullish on Scandium. The reason there's no demand is that there's no supply. The reason there's no supply is because Scandium presents in most deposits is only a trace. And unless you're producing something where the Scandium comes out easily, you're not going to do it. This is changing. Technology for processing and refining is changing dramatically. We now have, in my opinion, several Scandium containing deposits, which I think can be brought into production. And quite frankly, the end uses of Scandium are now established and the end users are waiting. So I think this is a very exciting time for Scandium. It's an unusual situation. I plan to address this at the conference also. Thank you so much for joining us again today, Jack. Thank you, Tracy, and I look forward to a long association.