 Today, I have the pleasure at PDAC 2023 to be interviewing Konstantin Karinopoulos from Neopreformance Materials. How are you today? Great, Tracy. Hello again. So, Konstantin, Elon Musk all over the news. Tesla doesn't need rare earths, do they? I'd be shocked if he didn't. I think that's a highly aspirational quote. He didn't come from Mr. Musk, he came from one of his lieutenants, and unfortunately it had a pretty big impact on valuations in stock markets. I've been texting some of my friends who run big and small rare earth companies and I think our conclusion is what I just said. I think it's highly aspirational and frankly when I did the rounds with my really extraordinarily bright engineers and material scientists through our organization, I think the conclusion is the same. There doesn't, today, there isn't a realistic alternative that exists or it's even showing the potential that it could possibly replace rare earth magnets in electric vehicle traction motors. It just isn't there. Is it possible? Of course. I've been from 2011, rare earths are not indispensable. Given enough money and smarts, people can come up with alternatives, but right now, nothing makes commercial sense when compared to the rare earth permanent magnet traction motor for electric vehicles. Of course, with all of the commentary in the media and the headlines about decarbonizing the economy, increasing demand for electric vehicles, and for all intents purposes you're the king of the magnetic materials, what's happening on your end? You must have your phone ringing off the hook. There's always folks approaching us, but we do have a very extensive set of relationships with big name clients in the electronics and automotive industries. Half of our revenue, more than half of our revenues, come from automotive. So we know how to play the game and we also have extremely strong relationships there with tier ones and OEMs. There's no question that all the OEMs are focused on this energy transition to electric vehicles. There is a bit of panic because the resources, the resource availability and the manufacturing high chains are not there to accommodate what the world will need by 2030-2035, but at the same time, a lot of us are working pretty hard to get there. To that effect, we are building a new rare earth magnet plant in Estonia. We should be commissioning it sometime next year. This is frankly in response to tremendous pressure from the folks that you talked about. People basically kicked our door down and said, you have a plant in Estonia. It's the largest, really only commercial operation for rare earth production in Europe. We need you to take those rare earths and turn them into magnets for our motors that we need for a drivetrain in Europe and we're obliging. As long as you have that demand security from really big sophisticated names, it eliminates the market risk from any new project, which makes it a lot easier. Of course, you've got offices in 10 different countries. I've asked you about this before. I'm curious about how you might be viewing more M&A opportunities presently because of your leading position in the market. We have a leading position in the market but we also have a share price that in my view at least doesn't really reflect the value of the company. It's always tough to do ambitious M&A if you don't have the currency represented by the value in your shares. However, we've done some very interesting tuck-in deals. We bought control of an asset in Greenland that we think shows tremendous progress that it could eventually in the next 5, 10 years, whatever, turn out to be a world scale mine producing rare earths for Europe and the world. We've been working very, very diligently on another acquisition in the magnet space which I think we can tuck in very efficiently. In terms of bigger M&A, I don't know, I'll have to wait for our share price to hit previous targets before we can seriously think about spending values in the hundreds of millions as opposed to the tens of millions of dollars. Okay, so with all the news right now, critical minerals all over the market, headlines everywhere, we find a lot of misinformation in the mainstream media. How are you dealing with that from your company? Is your PR team just getting larger and larger by the day or how are you dealing with some of those challenges? Yeah, I think misinformation and false narrative has been the case in our industry for, I don't know, I became the first time, my first CEO, Stan, started in 2005 and the narrative was already false at the time. You know, stories around Magna quench and things like that, you know, you can't help but get jauntist to some degree. So I really don't spend an awful lot of time trying to correct the record or whatever people publish, either on social media or on the web someplace. I recently, together with one of my associates, we published a chapter in a new book about critical minerals and the tech imperium. It's a result of a conference that I spoke at last year and I, you know, I talk about the title of our chapter is Lessons from 30 Years in the Rare Earth Trenches, which is how exactly it feels. So this is an attempt to sort of present my experience in Neil over the last 30 years and we started it in 1993. So, yeah, and I think the false narrative for smart investors, since this is investor intel, it also presents buying or even selling opportunities. When there's a lack of proper information, there's a gap in value and people can exploit that. Now, whether the gap in information is intentional or accidental is beyond my pay grade to comment on, but there's always things to do and opportunities to take advantage of when the understanding of the market and the various factors that affect the market isn't right. Well, Constantine, as always, it's a genuine pleasure. Thank you so much for the update. Thank you, Tracy.