 Yes, water is a very precious resource and we see it every day in our life. So today I want to take a few minutes to introduce you to the challenges coming up with the management of water related to mining and metals. You may not know before starting H2O Innovation and creating H2O Innovation in 2000, I was myself into the mining industry. I was managing, coordinating Exploration Campaign in Labrador and Peru and very early I got exposed to the challenges in managing water for our Exploration Campaign. In Labrador we had to manage water and bring the water through pipes and holes and we had to heat with electrical coil this water to avoid freezing of the water. On the other hand, a few years later doing Exploration in southern Peru where the water is pretty rare at 3,000 meter high, we had to hold water in trucks and we were waiting for the trucks to bring this water to conduct our Exploration Campaign. So very early indeed I got exposed to the water challenges. The water processes and the extraction processes from previous years to today I've definitely involved so there's more new technology involved in the extraction process but one thing has remained for sure is that water is related to every single step of our extraction and refinery processes. We needed into our Exploration Campaign, we needed to the flotation process, remediation, the dust minimization or management, the workers facility, the water is really needed everywhere. One of the news is that today with good technologies, with membrane filtration technologies and crystallizer we can recycle this water up to 90%. So with good practices and proactive investment we can come up with a more advanced solution. Now what is strange about or different about this industry? So unlike any other manufacturing business the mining exclusively relies on the location and we spend a lot of dollars to confirm this location. We spend a lot of dollars to confirm the proven reserves, we spend a lot of dollars to define the site but all the other industries, the manufacturing for example if you want to build a new pharmaceutical plant you will look at the facility around the plant, you will look at the population, you will look at the public transport to build your plant, you will look at how you can access power, the cost of electricity, the fiscal environment before building such plant. But in the mining, I mean you'll be building this in the middle of nowhere and the discovery then makes it even more challenging to bring additional resources. As you start the mining process or the exploration you bring people in the middle of nowhere so you'll need water for the camps. As you build the mine then you will have obviously water related to the smelter or the refinery itself and then obviously you will create the tailings, the tailing ponds will have to manage this water and again the water will have to be treated before rejected to the environment. But are we giving sufficient thoughts and time on how we're going to manage these resources? Unfortunately we have been exposed to great opportunities but clients were coming to us very late in their process saying, oh I need a water treatment plan for five hundred people that I need to move on this mine site and when do you need this? In which year? Oh we need it in six months. So it was obvious to me that you know there was a lack of planning somewhere so this morning I want to share with you a couple of things that we should pay attention to and before investing in mining whether as an investor or as a developer of a project we should pay attention to. So three important things or risks that we should look at. The first one is obviously the one related to your ability to generate revenue so because there's tremendous amount of water required to the extraction process so do you have the proper technology so how can you mitigate the risk associated to the manufacturing or extraction process? The second one is the one related to the people, your employees. As you move these employees again in remote areas and we're talking about camps of four hundred, five hundred, a thousand, two thousand, five thousand people even that you move in pretty remote area you need to provide them with water treatment systems, waste water treatment systems that will provide them safe drinking water. So the one related to health and safety risk is another important one for the workers scammed facility. Finally the last one that I will address this morning is the one related to how are you managing your tailing water ponds which represent a very important environmental risk and potentially reputational risk as well. So the first one or first case study I want to share with you this morning is a project where we got involved for the mine, Escondido mine in Chile. This as you may know is the largest copper deposit owned by Rio Tinto. In this case to get the mine running and we're hoping to get the plan going in 2016 this will make the largest arrow or desalination plant in the entire Latin America. So Rio Tinto invested to build a brand new desalination facility, a 220,000 cubic meter per day desalination plant. So this to give you an example is the equivalent of a 500,000 people that you could deserve with water. So they got this mine going, they got this plan going and the challenge and to show you how critical and important water was and the scarcity of it as well in southern Chile was that we had to bring this water up to 3,000 meter high in altitude through pipeline of 180 kilometers. So if you don't plan it properly in advance and you don't look at the resources you have around you before you get going, you may get caught with unlikely or pleasant investment to be done. So as we speak we have two of our employees flying there in Chile to assist and collaborate on the commissioning phase of this desalination plant. But again is to show you the importance of proper planning related to generation, their ability to generate revenue on this extraction process. Another one I want to share with you is the project here in Ontario, a project we did a few years ago for the client, the Beers was among the first, well their first mining diamond mine in Northern Ontario. So this illustrates very well that the Beers, despite the fact that there is abundant water resources around this area, the Beers was not afraid to go beyond and above by investing into a water treatment plant for the workers. So in this case we had to design water treatment systems using membrane filtration technology that could adapt itself as the mining process or the life of the mining project. As the Beers was expecting to get the groundwater contaminated with the mining operation they asked us to be able to design the plant so that we could adapt it to condition from groundwater to surface water over the 15 years of the life of the mine. So again we had to adapt ourselves but it shows that for the Beers it was very important to make sure they were providing safe drinking water to their workers. Because imagine the cost of flying someone by helicopter in the middle of nowhere then by plane back to Toronto to get ill for E. coli contamination or diseases. So again important risk, health and safety risk and again associated to potentially even some reputational risk. So this shows the kind of modular building that we brought on the camp containing all the water treatment facility. Now another interesting one that I want to share with you this morning is the one related to tailing ponds. You may have heard about this case study on Mount Poli. So a few years ago we received a mandate from Imperial Metal to build a water treatment plant to process their water for this large tailing pond. That's significant in size so we're talking about 24 million cubic meter of waste that we had to manage over a significant area with contaminants with arsenic, copper and selenium. So we use for that membrane process. But the interesting part is that we received the P.O. it was about $2 million P.O. In June 2014 so we start immediately to get going because it was critical that we had to deliver this plant for November on the same year. So again quite short notice to get going but the client is paying $2 million so let's get going. So immediately we get started on the engineering phase, provided the drawings, provided the submittals and here's what I want to show you. On July before we finished we had just finished the engineering phase and we had just started the procurement phase of the key and long lead items. Here's what happened and look at the impact it had on the stock. On July we saw the dam of the water pond just collapse creating a huge environmental catastrophe. So suddenly there was the lake just below the Pauley Lake increased by 1.5 meter in three or four days and 326 tons of nickel, 400 tons of arsenic, 177 tons of lead were disposed into the environment. So obviously it caused a huge impact on their reputation but it is definitely something that could have been planned in advance. Now another example I wanted to share with you which I believe is good practice is the one related to the old plant maniola previously owned by Norenda now Glencore. In this case they have been proactive right from the beginning and invested into a proper water treatment to minimize or reduce the level of water contained into their pond. So in this case we're using the water in a closed circuit, we're using membrane filtration, seawater reverse osmosis system to recycle the water and put it back into their process. So they have been very proactive in doing it, they did it in the middle of 2006 or so the investment and still run today to keep the level of the pond at low level. So as you can see I mean water is involved in every single process and is implied in every single commodity you have and strangely in 1999 I decided to think about something else than mining because I was there in Southern Peru looking for this porphyry gold system but it was very very inferred if I can say and at $290 an ounce there was no way you know we could make it happen, the economy wasn't there and we had to find other options and when I look at this to me it was obvious that despite the price of any commodities water was the commodity number one required in every single process. So I founded H2O Innovation and we can see that the investment done over the years paid off and the industry is still investing tremendously into water. So just for water systems in 2011 the mining industry spent $2.3 billion and today the industry we're expecting in 2016 will spend $3.6 billion just for water treatment system. So it is growing it is a fast growing market and we're still expecting this to grow in the coming years. So a couple of takeaways first I mean mining is very thirsty for water and I think it's obvious no matter what the commodity is we need water in every single process. I think obviously looking at the event the sad event of imperial metal we can acknowledge that prevention is better than cure. So water planning should be done in advance and there is technologies out there to help you with that. And the three things to remember while you conduct your due diligence whether you are an investor or you are a developer should be on three important risks to mitigate. The first one related to your ability to generate revenues. So the one related to the supply of water for your operations and the quality of supply of water you bring. The second one will be related to your workforce your people protect your people with proper and safe drinking water and wastewater and make sure that you're compliant with the legislation where you're operating. And finally the last one is the one related to tailings. How can you reduce or manage better your water tailing ponds. So strategic planning should definitely incorporate the water issues into your business. I mean it will definitely you know maximize the opportunity for you but also minimize the risks associated to your operation. So thank you very much.