 Randy, it's great to see you again and it's an exciting day because you've just put out yet another PFS, Pre-Feasibility Study on Metatase. What are the differences between the one just published as an update and the 2013 PFS? Yes, thanks Fred. The key difference in the study that came out today is the fact that we're demonstrating that Metatase can start off as a smaller mine, hence a lower capital cost, grow into be a world-class mine and largely funded by cash flow and be economic at current metal prices. So that's really the heart of the press release today versus the 2013 study. You're accomplishing this by staging the development, so a smaller amount of production at the front end using the cash flow to grow it up too? Yes, there's a couple of reasons. First off, a lower initial throughput, so the mine will be half the initial size versus the 2013 study, which was at 60,000 tons per day. This study is at 30,000 tons per day. So moving less dirt at the front end, we've also outsourced some of the components that were owner operated in the previous study and the largest one being all of your mobile fleet and mining like a caterpillar equipment and like. So that's all been out on a lease basis. You've got low interest rates. It's attractive to do leasing. You don't have that capital cost. So outsourcing and a little bit of out leasing in terms of equipment are the key differences in the capital cost structure. Water in Mexico has been a bit of an issue for some operators. What will happen at the tattoos? Well, we're actually in a pretty favorable spot relatively speaking in Mexico because we're not in the desert. We're actually in the mountains. But the Mexican government last year raised the tariff on water by 100%. So for us, we do over 20 million cubic feet of water in terms of consumption. So that's close to $1, so it's a $20 million a year price tag. And you don't know over 30 year mine life what that price may go and if the water is still available at what cost. So we have an opportunity because of where this project is located, quite strategic near the Pacific Ocean and we have low cost power, which now makes desalinated water an auction. And our cost for producing water is about the same cost as natural runoff. So it's a great fit for us. It's a win-win for the stakeholders and others that we would be impacted in terms of a big mine such as metates in Durango. There are a handful of very large deposits like metates. My impression is that most of them are gold and copper. Or gold, silver and zinc, correct. Is that good, bad or is there an opportunity here? I see it as a great opportunity for metates because the difference between a copper, gold and a gold, silver, zinc is that we have much more flexibility in terms of being able to do silver stream in terms of raising capital or doing a zinc takeoff in terms of raising capital. It's quite common and it's accepted generally by the investment community. Whereas today on a copper gold, very difficult to deal with the copper and so you don't have the streaming alternative that the metates metal stream makes a fortune. So we think it's a huge advantage. Well when you look at the study and the all-in sustainable costs over the life of mine at gold at today's price around $1,260 an ounce, how do you look? Well as the study shows, all-in sustaining costs is around $662 an ounce and that's over a mine life of 30 plus years. So it's very attractive and it's driven largely because you have a large open pit which doesn't have a lot of development work that you would typically see with an underground deposit. So very attractive AISC, they call it for all-in sustaining costs and certainly in the lowest quartile for the industry. People are very concerned about the environment and justifiably so. Mining has its issues with regard to reclamation. What's metates going to look like as the study shows? You've heard about the mines that have had these tailing breakdowns and horrible stories for the industry at large and that's another thing of metates. We do not have any wet tailing compound, our tailing structures are what they call dry filtered so we actually filter the water out so you have a dry stack material so it's actually the highest and best use in terms of tailing management. So again you know it's sort of a win-win, a bit of a cost to it but as you can see our all-in sustaining cost is still pretty attractive at $662. It's a great story Randy, thank you very much. Thanks for having me, thanks for having me.