 Hi, this is Jack Lipton, and I'm speaking today with John Cash of UR Energy, a uranium producer. And I think that this is the topic du jour. There's been so much good news for uranium producers in the United States recently that I think I'd like John to bring us up to date on what he sees as the future for uranium producers in the United States. Hey, thanks, Jack. Appreciate the opportunity to talk about the uranium space and your energy a bit, but you're absolutely right. There's so much going on right now in the nuclear space. So much good news has come out in the last just two or three weeks. In fact, we've got the Inflation Reduction Act. I'll start with that. There are a number of provisions within that act that really provide a lot of support for our existing reactors in the U.S. and also new builds going forward. So we were assuming, and everyone was assuming, that a number of reactors in the U.S. would be shutting down over the next 20 years. But I don't think that's the case anymore. There's so much government support for the green energy that nuclear provides that by my analysis, most if not all of the reactors that we have currently will stay online. Even looking at Diablo Canyon in California, which was slated to shut down in the not too distant future, it's got tremendous support now from the state government and from the federal government to stay up and running for much longer. So that's going to put demand, existing demand that was already there, but assumed to be going offline. It's going to keep that online. And that means that they'll be buying more uranium. There'll be more demand on the front end of the fuel cycle and throughout the fuel cycle to keep those reactors up and running. That legislation should also have a major impact on small modulars going forward. The NEI did a survey just a few weeks ago of its membership to ask, how many small modulars do you believe will be built in the near future in the U.S.? And their response is that as many as 300 new small modular reactors will be built by 2050. It's important to keep in mind that that survey was completed before the Inflation Reduction Act was passed. So post passage, if they did the same survey, I would expect that that number would be greater than 300 new reactors in the U.S. But even globally, we're seeing great news out there, especially out of Asia. Korea has essentially reversed their slow phase out of nuclear. And now they are looking at keeping their reactor plants up online. And also, they expect to begin exporting their technology again. And historically, they've been a very large exporter of reactor technology. And they're going to resume that. Japan just a few days ago announced that they're going to expedite the restart of seven of the reactors. And so we were excited about that. That's going to put additional demand on the market. And they're looking at additional buildouts of advanced technology reactors going forward. So so much good discussion out there of new reactors being built globally. So many countries, China has a massive build program on going 150 new reactors within the next few years. And they say they're on target to do that. India has a large buildout. I've talked about Korea and Japan. England is looking at a buildout. France is going to be keeping reactors online and potentially building more reactors. Finland, even in the U.S., a southern company down in Georgia, has got two reactors under construction. So those are the conventional type. That doesn't even get into the small modulars. So just so much excitement right now in the market, Jack, and exciting time to be a uranium miner for sure. How is our energy your company impacted with the holy grail in your business, which is long term contracts with utilities? How are you doing in that space? You know, over the summertime, it's pretty quiet typically with uranium sales. And I don't think that this year has been remarkably different. We expect this fall and going into winter for that activity to pick up and we expect to see more RFPs coming in from utilities. Having said that, we have recently signed up one long term agreement with a large U.S. utility for 200,000 pounds per year each year for a term of six years. That is not enough to justify a ramp up at Lost Creek, where we currently are in limited production. So we need a couple more, maybe three more contracts to be able to justify the ramp up. And we are beginning to see the price move upwards in response to all of that good news. And also Sprott is back in the market buying uranium off of the spot market to fill up their trust. So that's going to put a little more pressure on the market as anything that's mobile gets mopped up. And we expect that they're going to be positive on their nav going forward and be able to rely on their ATM. So that puts more pressure on the market, drives the price higher. And I think everyone around the world is beginning to recognize, hey, this renaissance is real. It's not going away. And we better pick up some pounds while we can because the supply is very limited globally. So we expect we're very optimistic and very positive that we'll be able to sign up additional contracts going forward and justify ramping Lost Creek back up into production. We've already produced over 2.7 million pounds at Lost Creek. It's a proven producer. And we've got our executive staff is not changed, still there. And a lot of our management at the mine site is still there. And so we've got the capability of ramping that up pretty quickly. And then also moving on to our Shirley Basin project and getting it built out when the market signals are appropriate. So yeah, we're looking forward to more contracting going. One last question. Recently, the United States Congress, I believe passed a bill to reestablish an American uranium inventory. Now, has that actually begun and has Congress actually funded that purchase program? Yeah, absolutely. Congress has funded the program at 75 million dollars. It is a one time fund. And so that program has been stood up. And the DOE is currently looking to fill up that reserve with up to a million pounds. And they went out with an RFP a few weeks ago, we responded to that. And with the response that, hey, we will sell you a large portion of our inventory. And so we expect to hear back from the Department of Energy by the end of September, if whether we've prevailed on that or not. But again, that's 75 million dollars of funding. The mining companies, we expect we'll get a good chunk of that smaller portion of that we expect will go to Converdyne, which is the sole conversion facility here in the US. But we'll see how that plays out. We've got a couple of competitors in that arena that have some US produced pounds, but it's a very, very small club of companies that have US produced pounds. And we're pleased to be a part of that small club. I said that was my last question. I do have another one. What's the future in the United States for enriching uranium, for actually producing reactor fuel? Yeah, you know, that's the tale that wags the dog right now because in the US, we have one in richer and down in New Mexico to conglomerate owned by several different countries. It's not US owned. It's not US technology. Therefore, it can't be used. The material they produced cannot be used for defense needs. For example, the nuclear Navy. So Congress and the federal agencies are working very hard to try to establish domestic enrichment for the sake of our nuclear Navy and defense needs. And so a lot of the bills that are going through Congress right now with regard to HALU and enrichment are really designed to incentivize the ramp up of enrichment domestic enrichment instead of foreign enrichment. So we're in a tough spot right now because we don't have that capacity within the US. And it does need to be built out and Congress recognizes that. We kind of going down the chain a little bit, the step before that is conversion. We've only got one facility in the US that's capable of conversion. That's Metropolis, Illinois, the Honeywell facility there and our Convertine Honeywell facility. And they've been shut down since 2017. They are working on revamping that facility, getting it remodeled, and they hope to get it restarted in the spring of next year. But that's only one facility in the US. So the entire fuel chain within the US has really been decimated over the years. And finally, steps are being taken to revitalize that within the US mining, conversion and enrichment. So hopefully those steps continue to be taken in a practical and meaningful way. Thank you, John. That's very informative. And thank you for bringing all of us up to date on what's going on in the now burgeoning uranium industry in the US. Thank you. Thank you very much. Really good. Thanks, Jack. Appreciate the time.