 Today I have the pleasure of speaking with Amanda Lacaz from Linus. How are you today? I'm good. Thanks, Tracy. How are you? Amanda, we are just thrilled to see record sales, record production, record everything from your last quarterly results. Can you tell us what happened and give us an update, please? Yes. If you're delighted, I've got to tell you we're really delighted. So as you would be aware over the last three years, we have been progressively improving our production results and we now have 100% of our NDPR production capacity operating and we're actually performing at about 110% of man plate. So we are at a run rate of 500 tonnes per month. So that's great. Our cost, as you know, over the last three years, we've put in a lot of effort to actually take control of our costs and we've continued to do that. And for some time, we've said to the market, we are strongly leveraged to any improvement in pricing. We saw some significant improvement in pricing in what for us is the first quarter of our financial year, the September quarter, and of course, just like we said it would, it's all fallen to the bottom line. And of course, you've mentioned NDPR and for the audience that may not understand what that is, that's neodymium, presidium, magnetic materials, we call them technology metals, and you're the number one or the second largest producer in the world of these rare earths. Is that correct? Yes. It's a really lovely badge of honour that we get to wear now. So Northern Rare Earths in China is the largest producer, we're the second largest producer, as I said before, 500 tonnes per month run rate. And because we don't consume any in our downstream operations, we're actually the largest supply to the free market. And of course, with the looming global shortage of this supply, of these magnetic materials, can you just talk to us about what you see happening in the market in this upcoming year? So I think as we look at what's happened with the pricing over the past little while, there are a couple of key influences on that. The first is demand remains strong, but even over the last couple of years when the price was, you know, abominably low, the demand was always strong. But today what we have is we have an accelerating and an expectation of further acceleration in demand as electric vehicle production increases, as production of wind turbines for wind energy increases, and as we continue to have significant production demand for electronics. These are the three key induced segments. So there's an expectation of accelerated demand. On the other side, there has been significant buyside reorganisation has occurred in China. There has been a clampdown in the Chinese government, I think, is to be congratulated on their approach to improved environmental performance across a number of industries. So not just in rare areas. And that has seen some operations which are not environmentally compliant, being shut down. And so we certainly have a situation today where a lot of the illegal material which was in the market has come out. But how forecast if electric vehicle demand continues the way that we think that it will, the world is going to meet the equivalent of a new Linus every four years. And actually just by the way, we think the best new Linus is Linus. Well, of course, the way you've managed your debt as well, you're looking at becoming quite the acquisition player I would contend moving forward. So speaking of the debt, everyone on the streets talking about that and how well you've managed it and the conversion that you Linus has done here in the last year. Can you talk to us a little bit about this? Yeah, look, I think the first thing that I want to do is I want to acknowledge the importance of our vendors in our corporate recovery. They have operated as partners to our business over the last three years when market conditions have been difficult. So since the beginning of our financial year, at that time, we actually had four hundred and twenty five million dollars in debt. Two hundred million of that was our senior security facility and two twenty five was our convertible bond holders. In the past three months, we've paid down 30 million on the senior security, which now sits at one hundred and seventy million that is held as I think you would recall by Jare, Japan, Australia, the rare earths, which is job may then suggest in Japan, as well as that. On that particular facility, we have extinguished some trailing interest liabilities related to calendar year 14 and 15. In terms of our convertible bond holders, you may recall that in November last year, our shareholders approved some changes at the facility, including resetting the conversion price. As a result, over the last three months, it's been attractive for those bond holders to convert. That converted in a very orderly fashion, essentially placed the stock with a number of long only funds in the market, which has helped to ensure and improve our share register. And I think going into this logic was that the dilution was priced into our share price. And I think as the conversion has occurred, that that has proven to be right because the bond started averting when the share price is sitting at around about 11 cents. Yesterday closed at just over 20 cents. So we've gone from, you know, we've actually increased our market cap by about two and a half times in the last four months. Well, I was about to congratulate you, Amanda. You're about to break the billion dollar market cap marker here. Your shareholders must be thrilled. Oh, so because I'm in Australia, I can tell you that in Australian dollars, we are over the billion dollars. It was something that I was watching very closely. And our enterprise value now is, you know, around about one point four billion dollars. And so that's, you know, we're very, very pleased with that. And I think just to finish on the bonds, we now only have 96.5 million of the convertible bonds left as debt within our business. So our balance sheet, I say this to some people, I no longer wake up at three o'clock in the morning with cold sweat worrying about our balance sheet. Well, Amanda, thank you so much for joining us today. And again, congratulations to you and the entire team of Linus. Thank you so much, Tracy. It's always a pleasure to have the opportunity to speak with your subscribers.