 Today, I have the pleasure of speaking with Chris Reed from Neal Metals. How are you today, Chris? I'm very well, Tracy. How are you? I'm fantastic. And here we go again. You just keep hitting one benchmark after another, one milestone after another. And on top of that, for the last several years you have been, I've got here three consecutive dividends in the last financial years. Do I have that information correct? Please correct me. No, that is correct, Tracy. We've returned about $28 million to our shareholders in three consecutive dividends. Can you tell me why, you know, being in this space, I never hear about any other company doing this, in this particular market valuation. Can you tell me, you know, what makes you different? Why are you doing this for your shareholders, or how can you do this? Look, I mean, you know, our sort of motto is, you know, we're a business, you know, I measure the success of a business by giving back more than you take off people. You know, we managed to sell some equity in the Mount Marion mine a number of years ago, which gave us a very, very healthy cash balance far in excess of what we needed to spend. And you know, prudent returns back to the shareholders, you know, is one of the things that we sort of pride ourselves. You know, you've got to remember that the board of management is the largest shareholder in the company. And we are very well aligned to sharing the gains that we do make. Well, I know we love this here at Investor Intel. Can you tell us when you plan on listing in North America or plan on doing a dual listing? You know, look, our most immediate corporate move is to recommend to the shareholders to demurge our titanium vanadium assets away from the lithium business. You know, Mount Marion is very mature. It's generating cash. We're now looking to build a downstream lithium hydroxide plant, a lithium battery recycling plant. They've got their own capital needs. Borambi is a far, far bigger resource by value, but not as developed. So we think, you know, we're not getting value for that in the current portfolio. We'll separate that out first. You know, we have an American depository receipt program on the pink sheets and the NASDAQ international designation. But, you know, for us, we think that the shareholders prefer, you know, they'll own the same amount in each project, but in two companies. Well, this was, of course, put out in a news release just a month ago. And I believe I read that you would have completed this demurger in March spring of next year. Is that correct? Yeah, certainly. Look, we've got to, we've got to put our financial results out by the end of September. We'll have a bit more information around the demurger. We have to have all that documents to the shareholders at least four weeks before the annual general meeting, which is at the end of November. And we hope to complete that early pending approval in the March quarter, early in the March quarter of 2019. Well, you always put out such comprehensive news releases. And you had one more recently about being able to produce commercial great zeolite. Can you tell us a little bit about this news release and what it means for the shareholders, please? Yeah, sure. You know, the Spodgerman concentrate that we produced at Mount Marion, we have to, we have to leach the lithium out. How the lithium got there in the first place is it got attracted or, you know, the molecular sieve, which was the aluminium and silica. So basically what we're doing is re-activating that and giving it another life. So, you know, turning waste into an engineered product. Any net benefit out of that will just reduce our operating cost for the lithium business. And I also read, I thought this was interesting anyways. I hope the investor intel audience does, but you recently took out a two-year option to sublease a 40-hectare site for your proposed lithium hydroxide processing facility. Can you give us an update on this? Yeah, correct. We took an option from the local government. The plant is located about five kilometres outside of Cagooly, which is my hometown, about 40 kilometres as a crow flies from the mine. So basically, you know, we've got national highways, national rail connected to multiple points. We've got high-voltage power, natural gas to site. I mean, it's a real no-brainer for us. And Chris, you know, even we've been watching you for a couple of years now, and again, you seem to keep achieving one milestone after another. So what I'm interested in is what are you working on presently with Neil Metals that is most engaging for you? What are you most excited about these days? I've got to say I'm pretty excited about the lithium battery recycling project. So, you know, we had a couple of delays. We've bought in a big Australian engineering firm to finish off the construction. The plant's up in Montreal. So we'll be running that November, December this year before working into the engineering and design phase. So, you know, these batteries that you've got in your phone or your laptop, you know, they're 20 per cent by weight cobalt, which is an incredible value. So we've got to apply ourselves for the last couple of years to come up with a safe process to get those materials out. And that really closes the loop. So for every ton of lithium we get back out of a car battery in a couple of years, we're going to be getting a ton of nickel metal and 130 kilos of cobalt for free. Well forgive me. I didn't warn you about this question, but I'm going to throw it out there anyways. With the US Defense Act, and of course you're in the US right now, you do have a number of critical materials. I would include titanium in that list and vanadium. Can you tell us, can you make any comments on this particular act and whether or not we as shareholders will be impacted positively with sources such as your own with these critical materials? Or do you have any comments you'd like to share with our audience? Yeah, look, then the Defense Act, I'm not all that worried about. You know, I'm really, I'm probably more concerned with the pending US Sino-Trade War. You start putting on allegedly 25% tariffs on Chinese titanium pigments and stuff like that. There is the potential for upsetting the Apple Card in terms of pricing. Australia always remain a free trade nation, so we'll be happy to supply to the US as we're happy to supply to China. But I think if you have a look at the modeling of what the effects of a trade war are, it's the US GDP down by four and a half and China down three and a half and for the rest of the world, that just doesn't add up to fun. No, not only does it not add up to fun, but considering the basket of critical materials you have, can you tell me which one, say the Apple Card, does get shaken up a little bit more, will be most affected? Yeah, I think titanium, the titanium pigment price is not so much the feedstocks, but the pigments that the Chinese export into the US will become less competitive, probably open up room for the European guys to supply into North America. Lithium, China is pretty much self-sufficient. In lithium it imports a little bit, but exports a little bit. So I don't think the lithium is going to worry them. I think fundamentally the lithium price shouldn't be knocked around too much buy it. Vanadium, well China's got a, you know, from the start of November it's going to have to add significantly more vanadium to its rebar steels to meet the new requirements. So I think the vanadium market is still going to be pretty tight. You know, that's a running out of good feedstocks. Well, Chris, as always, it's a pleasure to speak with you. Have a wonderful day. Yeah, you too, Tracy. We'll see you soon.