 Good morning, Greg. This is Jack Lipton again, and today I'm interviewing Greg Andrews, the CEO of Search Minerals. Good morning, Jack. Greg, before we start, I want to make a point. I've been reviewing your company's public information, and I was quite impressed by the stuff I read on your website about your direct conversion metallurgy, hydro metallurgy, and I just want to tell everyone that I give a seminar on rare earth processing every couple of years, and this last June when I did it, I called Dr. Bruce Moore of U.S. Oak Ridge National Laboratory and asked him to find for me a general information paper on solvent extraction that my audience is typically a few chemical injures are mostly businessmen. So he recommended a paper by Dreisinger from 2013, and I looked at it and I said, wow, this is wonderful because it's so clear, and if you don't understand it, maybe you shouldn't be in the business. So I used it and handed it out and got a lot of reviews, and I didn't think about it again until yesterday when I was reviewing your company's information and found out that Dr. Reisinger is, I believe, a board member, and not only that, he's designed a very clever front-end process for your mind, and I was going to ask you things about grades and minerals, but now I don't have to because I see what you're doing. It's what I really think junior miners should do, which is to understand what they're deliverable is to the next level in the supply chain. Congratulations, Greg. You're the first junior I've ever talked to that actually agrees with me and did that, and I think what you're going to deliver to SS Processing is exactly correct to make a PLS. It's perfect. So it's a great business model. Congratulations. Now that I've talked so much, can you please tell us more about what your company is doing right now and where you are in your development? Well, thank you, Jack. And one thing I would say is when we started off in this business back in 2010, 2011 with everybody else, and Dr. Reisinger has been with us since day one and he is a board member, and we recognized at that time that capital costs were going to be the key driver of what projects are going to move forward. And so when we started off with our resource and finding our product, it was a unique resource in that it hadn't been seen before in terms of the type of resource carrying with Alanine, Ferguson, and whatnot. And so we started off with the normal flow sheet, traditional flow sheet, and David Reisinger then that's when he tried something unique in that he eliminated the grinding, flotation, magnetic, and separation beneficiation issues. So that was what really started our process to make our project more economic with low capital costs so that we could be a scalable technology start small and grow big. And that's what we've started back in 2010 when we first got in this game. Well, that was the exactly correct business model as far as I'm concerned. And I was not aware of what you're doing. And obviously there's a fantasy among junior minors that someone can come and look at some operation and suddenly understand it. Well, I looked at the flow sheet on your website and I do understand it. I understand what's going on here. It doesn't matter what the details are. The plan is first class and if you can deliver sufficient 99.8 percent total rare earths as chlorides to the next stage in the supply chain, well, that's exactly what they want and you're going to get a much better price for your PLS ready concentrate than people who produce a mixed con. I love that nonsense term. Okay, because it's worthless mixed con. But your stuff is first class. So what are your target dates and how much do you expect to produce annually and when? Our production rate right now, Jack, what we're looking to do is we've completed two pilot plants. We completed the $1.9 million pilot plant and we're just finishing off our optimization. And what we're looking for is again to tweak those capital costs and get the operating costs down. Our next steps was then to build a demonstration plant and we're hoping to initiate that and we're looking at doing about a one 100 scale of that. And the key thing there again is to be able to deliver more product for the company's refineries to go down further and get into that offtake sort of discussions that are quite needed now. Our quantities on 1,000 tons per day you could see was about 3,200 tons of mixed rare earth. It is mixed rare earth concentrate right now, but we can change that to be the chlorides or whatever we need in our process to suit the market, but that was the measurement that we started with. And that's at 1,000 tons per day, but we look with our DeepFox addition that we can expand that now to increase that to 1,500 tons per day to 2,000 tons per day, which of course will multiply that number, you know, 6,500 to 7,000 tons per year. Okay, net of total rare earths. Yeah, I see that you don't have the distribution of rare earths in your deposit on your website. Can you give us some idea of what's in it? Which rare earths you'd be supplying? Yeah, once again, we're blessed with our deposit and that we can carry both mainly the permanent magnet elements, neodymium, praesodium and a mix of disposium and terbium. So on 1,000 tons per day production with the 3,200 tons per year, we were produced about 650 tons of neodymium, praesodium, sorry, and about 50 tons of disposium and 10 tons of terbium. So it's quite a surprising mix when people start to look at our composition to see that we can supply all those four elements. All right, in your final step in your flow sheet where you showed 98% total rare earth product, is that the composition, that composition delivered would give 660 tons of neodymium, praesodium, and 50 and 20 of disposium, terbium. Is that what you're saying? That's correct. Okay, look, that would be exactly, exactly what the US Department of Defense thinks they need per year. Okay, now as I'm going to segue here for a second, I was asked today why why Canada is not actively participating in the US current US interest in reviving domestic rare earth supply chain. My answer was simple. Yesterday the Secretary of Commerce of the US met with his counterpart physically in Washington, the Australian Minister of Resources, and what are they talking about? Critical metals and rare earths. Okay, and a lot of money is being, the Australian government has committed to billions of dollars into their resource sector to get the rare earths and other critical metals up and running. Okay, now I go to Canada and I hear a lot of crickets. Okay, so what I'm asking you, I read on your website that you have very good relations with both the federal and provincial governments of Canada on your project as it should be because your project seems to me to be an excused expression shovel ready. Okay, so I'm wondering, Greg, what's your opinion on why the Canadian government isn't doing more? That's a simple answer. The Australians are really pushing this and why is, I did a study years ago and I can tell you that most of the deposits undeveloped on this planet or in Canada and of those half of them are in Quebec and where you are a little further east of the Labrador. So what's going on, Greg? What's your opinion? Well, I can say that with the government funding that we've been getting, our funding with the provincial and federal governments have been for our pilot plant with a co-op, which is the Atlantic Canada Opportunity Agency and Innovate NL, which is provincial. But we also work with NRCan and that's the federal division and we're working with them and I know that they're talking, they've been into Washington and been in those boardrooms and talking and being representation of Canada's contribution. And maybe we're just not pushing hard enough and being vocal enough and we just have to continue that because it's certainly very timely and we have participated in the request for information to the US back in July. So they're well aware of search and search is deemed a domestic supply under that Defense Protection Act. So we qualify for that to make sure and yeah, so it's very positive in what we're trying to move forward to and we have to continue to engage our Canadian government. We have very strong support at the provincial level and I know they're engaging with their counterparts in the federal part of the government also. I'm interested in also in the fact that your pilot plant or demonstration plant at 1% of the total output projected is exactly what chemical engineers require when they're proving a concept with a pilot plant. I congratulate you because you're the first junior minor I have ever met honestly that knows that. People keep telling me, well, I made three grams in the laboratory and I say, so what? Okay, you're planned output is 3,000 tons. You need to show me a 30 ton plus pilot plant. Then I'm not concerned anymore about scale up. They go, huh? Well, you are obviously ahead of me and I suspect Dresinger is involved in this also, but that's good work. So you're doing everything right and where are you in the process of raising capital? That's a silly question to a junior. Yeah, so where we're at now, Jack, is a couple of months ago we were simply a company that had the Foxtrot resource which was a 14 year life mine, eight years open pit, six underground and we've been working on our project DeepFox which we were able to create a resource out of only drilling down to 100 meters and spending a million dollars. So what that has done for us is added more material so that we can update our PEA and that's allowing us to increase the production rate which allows us to have better economies of scale. So that's really been in the last couple months, like I said, is kind of the new beginning of search of really identifying this district with two resources within close proximity in a district that's 70 kilometers long and that's all led by Dr. Randy Miller and his team, another PhD who has been with us since day one that's leading the charge on the resource. So that's what's really got us focused that we can now look at those economics and really enhance this district and build it out. When do you expect this revised PEA to be done? We're going to probably look for that later in the year probably the third quarter next year and the reason that we want to do that is with the drilling only down to 100 meters even though it's a resource going down to 200 meters for $600,000 is quite significant in changing the economics which is important. That was the plan and so that's exactly what we're going to do, increase the resource and then do the PEA. Assuming that you can raise the necessary capital, when do you expect to have production? In the perfect world we would say probably three years for a decision to build and one year to build. Okay. So four years. Well, look, I think that you've been flying under my radar anyway and I'm now going to follow your company very closely because I think you're doing everything right and I would say it's amazing but the amazing part is that I didn't know it. You've been working and congratulations on that and I wish you the best of luck and I certainly want to follow your developments and I really look forward to when Driesinger publishes a paper so I can read what that process is. Thank you. Well, Jack, one thing I will comment on is we were working hard like the pile plant was in 2006 and 2016 and 17 when no one was really working in Rarus but we have such a great deposit in technology we continued to work and that's paying off the dividends now. I'll tell you something that puts you in the same class as Linus for example and even Northern Minerals. Both of them continued slogging through and at times when they were looking to see if the sheriff was coming with the quick notice. So congratulations again. Good luck. Thank you, Jack.