 Today, I have the privilege of speaking with Anthony Marchese from Texas Mineral Resources. How are you today, Anthony? Good morning, Tracy. Nice to be here. The reason we're speaking to you and thank you for your time is specifically the US-China trade agreement. And their surprise announcement, at least for people like myself, it was a surprise that we're now in the USA going to be exporting Scandium and Iterium to China. And none of us know where it's going to come from, and everybody says, call Anthony. Anthony, tell us what's happening. Well, actually, it's more than just Iterium and Scandium because the way that if you look at the specifics of the trade agreement, it actually is all of the rare earth, the way they listed it, it's all of the rare earths, including Scandium and Iterium because a lot of people don't consider, especially Iterium, a rare earth. So it's actually all of the rare earths and Scandium and Iterium in any of the alloys. So it's a combination of things, true, the United States currently has zero manufacturing capacity. There is some Scandium Reclamation that takes place out in the West. They send the concentrate out to Korea, but by and large, none of the rare earths. I look at this as another potential market for our products when we get into production. Obviously, over the next two years, I don't see anybody getting into production, but remember, this is phase one. It's going to be phase two and hopefully phase three. So I look at this in several ways. Number one, it's real. They are committed to buying it. Once we get into production, I sincerely that once we get into production, rather, I sincerely that that we will be able to sell 100% of our goods into the American market so that I think China then becomes a secondary market for some of our products. So I think it's a great thing. I think it acknowledges. The other thing it does is I think that it gives acknowledgement to the fact that we have a potential supply chain, I guess resurgence because we gave it away 30 years ago. So we have a potential supply chain resurgence in the United States that the administration finally recognizes and more importantly, does something about it. By the way, I don't think this trade deal, at least to us, it wasn't a surprise because we were in the office, we went to visit the office of trade representative back in the early fall. So I have a feeling that our visit paid off somewhat. OK, and then I would also, is this not confirmation to some of our experts that we've interviewed over the last decade have told us that actually China needs more rare earths and part of the reason why they don't want to be controlling the world's supply of rare earths is because they actually are looking at a future shortage with the increasing demand for electric vehicles, for instance. Is that correct? Is that assumption correct? Absolutely. As it stands now, China imports material from North Korea, I mean, not officially, but everybody knows that they import concentrate from North Korea. They're active in Africa. They're active in Asia. They're active in Australia. So it's not a surprise that the United States would offer to sell them material. But again, our priority is to service the United States, especially the Department of Defense and its contractors who, frankly, have been very good to us and I think have led the charge in the United States in terms of establishing a supply chain in the rare earth and critical material sector. Well, while we're speaking today, I'd like to also just touch on the National Defense Authorization Act that was recently announced. And of course, with the race for sustainability occurring too, you know, U.S., excuse me, you know what, eight o'clock may be too early for me. I've been using Peter Causey a lot lately and I'm sure the editor is going to be laughing at this because, you know, Peter's just like a dynamo. Okay, here we go. Three, two, one. We've been watching as well with the recent announcement with the National Defense Authorization Act. They drive towards sustainability mandates. And of course, you have actual rare earth project, a rare earth project in Texas, no less. And we're hearing how the Australians are part of the race. And of course, the Canadians were part of the race to help achieve these goals. Can you talk to us about perhaps the advantage that you have being located in Texas? Well, a couple of things. One, we have a funding and development partner in USA Rare Earth. It is an Australian company. I think the Australians have been at the forefront, frankly, of the rare earth market. You have obviously Linus, who is in production. Now you have several other projects in Australia that are coming into production. So it was natural that the Australians would look to fund and become our development funding and development partner in the United States. Once they complete their funding and development requirements under our agreement, they will then become joint venture partners. Being in Texas has several advantages. Number one, our project is located on state property, not federal property. So we are under the auspices of the state of Texas when it comes to licensing. And that's a huge, huge advantage. Also being in Texas, we're literally right off an interstate highway. We are literally next to a railroad. So we have optimal infrastructure to move our material to other parts of the country. We also, if you look at our PEA, only about a third of our output will be rare earth. Another third will be things we call critical material like Scandium and Lithium. And the final 20% or so will be in industrial minerals, which can be sold in tanker cars and into the various agricultural markets throughout the Southwest United States. Again, we have optimal infrastructure. We've been blessed. It's all above ground mining. We're not, you know, the unfortunate part and the fortunate part is that we're in, if not the poorest county in Texas, it's the second poorest county. So we're able to offer incredible amounts of jobs, high paying jobs, because the mining industry does pay well. And we're not located near any type of, you know, Native American burial grounds. As a matter of fact, we have, as a strategic partner, a 20% owner in the Navajo Nation through the Navajo Transitional Energy Corp. They look at, they look at an investment in us as, believe it or not, a green energy play because their constituents, the Native American tribes, want green energy sustainability. And they told us they made the investment in record time because what we will be producing is required for the Green New Deal or whatever other deal you want to call it in terms of green energy. Well, it's clear we need to have a follow up interview on a number of items, including how to build a U.S. supply chain in the United States and the associate, the real timeline. So, Anthony, it's a pleasure speaking with you. I hope you have a wonderful afternoon. Thank you. Take care, Tracy.