 Today I have the pleasure of speaking with Mark Smith of Largo Resources. How are you today, Mark? Fantastic, Tracy. Thanks for having us back again. And for everybody out there, the reason we're talking to Mark today is because he's the CEO of one of the only Vanadium producers in the world, so today we're going to talk to you about Vanadium. Perfect. I love to talk about Vanadium. Well, Mark, I actually love Vanadium myself. So if you could just start real quickly with an introduction to Vanadium for those out there that are new to this super metal. Vanadium is a super metal. I mean, the bottom line is it makes steel stronger. So over 50% of the Vanadium in the world is used in rebar. So I always like to say that because I think people need to be able to kind of touch and feel in their own minds what Vanadium actually does. But it's primarily used in rebar and then it is used to strengthen steel. So it's in a lot of the car bodies and chassis. It's in tools because you have to have a very strong tool to do chipping or chiseling or something like that or a hammer. So those are the primary uses and it's got all kinds of specialty applications as well. And a lot of it depends on purity levels of your Vanadium. So that's the story right now, I think, is purity levels. Well, I think the story too would be the increase in the price for Vanadium too, yes? Yeah, it's more than doubled in less than 12 months. If you take a look at the supply and demand fundamentals in the world right now, it would appear as if supply is about 20% below the demand level. And that's making very conservative assumptions on the demand level. If there's any little uptick in demand at all, that spread just becomes worse and worse. So you couple that supply and demand information with inventory information, which we've been plotting for 10 to 15 years now. And the inventory information suggests that we've been digging into inventory to meet the difference between supply and demand for over six years now. It's our opinion that there's very little inventory in the world. Supply is 20 or more percent lower than demand. We think there's reason to believe that the demand is going to uptick a little bit as well. We think we've got a very perfect storm being on the supply side of Vanadium. And of course, being on the perfect side of the storm, let's talk about the sizzle applications of Vanadium. Can you just give us a quick? I know the aeronautics industry. Tell us what makes Vanadium. I mean, yes, steel obviously is a huge market. But what else can you use Vanadium for? Steel is 90 to 91% of the market for Vanadium. But it's that extra 9 to 10% that requires very high quality material. And it just so happens that because of our absolute world-class resource we have in Brazil, the outstanding operations team we have out there, we are producing the highest quality Vanadium in the world right now. That means that we don't have to use our material in the steel industry. We can. But we can use it in these higher-end applications. So we look at the aerospace alloy segment where you combine Vanadium, titanium, and aluminum together, and it's used in the aeronautics industry. You can use high-purity Vanadium to produce catalyst. Two of the larger uses of catalysts would be hydrocracker catalyst in the oil refining industry and catalyst in sulfuric acid plants. Those are two very large volume applications. And then the third sector is Vanadium Redox batteries, which although it's very tiny right now, probably less than 1% of the total market, we actually expect that to create the largest growth in terms of demand in the industry. So because of our high quality, we have the right to participate in those high-end applications. And then high-end applications, you get premiums for your product. That gives us revenue that drops right to the bottom line. That's good for our shareholders. All right. So I'm going to put you on the spot here. Can you talk to me about a forecast, say for the next year, on where Vanadium prices are going? You know, I've never been a very good forecaster of prices, but I think we are virtually on the edge of something very explosive here. That supply being more than 20% lower than demand, that catches up to the market sooner or later. And one of the biggest drivers here is going to be the fact that China is actually expected to have more demand than supply in country. Every time that that's happened in the past, if you plot the history, China goes out to the market, and their procurement officers are ordered to buy the material, keep that inventory where it needs to be so production doesn't stop, and they offer whatever prices it takes to make that happen. So I think we're on the border of something very explosive here, but I'll also say that Largo would actually rather see something, you know, moderate and reasonable because, you know, every time you get bubbles in a market, they pop. And I'd rather see something very steady. We think kind of the right price for Vanadium in order to get supply and demand about equal, and this is all based on third party market information that others prepare for us. But it's probably between about $650 and $7 a pound, and that would be a very good number, but as is always the case in the mining industry, nothing ever goes where it's supposed to. It flies right by it and then comes back down. So who knows what's going to happen in the market, but I know that when you have those types of supply and demand fundamentals, you're on the edge of something pretty explosive. So on May 15th, our keynote speaker for the Clean Tech and Technology Metal Summit will be Mark Smith. And of course, our theme is the next big thing. So Mark, I can't have you answer this question with is, is Vanadium obviously the next big thing, but thanks again for joining us today. I hope it is the next big thing and thank you for having us here today.