 Today I have the pleasure of speaking with Gavin Lockyer from Arafira. How are you today? I'm well thanks, Tracy. Thanks for having us again. I'll be honest with you. I'm very excited about this interview. I mean, we have a lot going on in the news right now between China and the United States and of course now Canada and China. And that's making the world look to you for neodymium and prosidium in Australia. Is that correct or am I jumping to the wrong conclusions? Well, it's starting. We're starting to see some movement in that space. Geopolitical issues typically reflect or are reflected into an increase in the neodymium, prosidium price. So, you know, we hope to hope to see that in the near future. But what we're seeing also is that there's a slight increase from North American investors and manufacturers in particular, starting to look up their procurement supply chains to see where are the critical metals being sourced from and what can they do to minimize their risk of supply disruption. For those of you out there who may not be familiar with how exciting the magnetic material market actually is, the critical material market is, I'm going to ask you, Gavin, if you don't mind, just to give us a quick overview and re-review of who Arafura is in this market. Sure. Look, we're a developing project. We sit in Central Australia. So, in terms of political risk, we represent a very low-risk jurisdiction. Our process is to mine, develop, process rare earth materials in Central Australia, and then export NDPR or neodymium-prasidium oxides into the metal and magnet manufacturing industry, which typically sits offshore in places like Japan to a lesser extent, Korea, predominantly China. And the U.S. is definitely getting a growing interest in this as it's a strategic metal that feeds into high-performance magnets, as you've rightly alluded to, which drive electric motors and also a range of defense applications. And, of course, Gavin, what you've just alluded to, we did a piece about how the U.S. defense law has market eyeing raw materials, sources in Australia. Have you seen any additional phone calls from any military sources, of course, here in the last month? What can you talk about? There's not a lot I can talk about, but what I can say is that there's certainly interest coming from both sides of the Pacific, to be honest. The Australian government, obviously, has made a range of public announcements in which it endorses Australian resource and critical metals and materials for its allies, and of course the U.S. is an important ally as is Canada. So we would expect, whilst we have had some discussions at Canberra and at Washington level, what I'd really like to see is some of those industries that are reliant on the NDPR for their businesses actually start to come and talk to us in a little bit more meaningful capacity, because as you're well aware, Tracy, the NDPR market isn't a commodity market. There's not an LME in which it's traded, and so for us to get our projects up and running, we need off-take contracts which are defendable or are bankable basically, and so that we need those organisations that are well known throughout the world to come and talk to us about meaningful off-take discussions so that we can get our financing underway. Well, and obviously this is extremely timely, but for all of you scientists out there as well, AeroFURA has competitive advantages with your rare earth processing technology. Can you tell us a little bit more about this? Yeah, look, for the last couple of years we've been piloting our process at a significant scale. This has been in conjunction and discussions with our lead feasibility study engineer Hatch, and so we've been doing various unit operations. There's seven in total. We've just completed number six. But as you've alluded to, it's a very important step because as far as we're well aware, nowhere else in the world is the cerium removed from the rest of the rare earths ahead of the final separation. And whilst this can get quite technical, the upside to it is the fact that we're removing a high volume, low value material from the rest of the rare earths, which then go into subsequent solvent extraction processing, which can be quite expensive. So we hope that we get a cost competitive advantage here, but also we think that we've got some technology here that might be useful for other processes or future processes as they're developing their own projects. Maybe you can talk to that for just a second. To those of you unfamiliar with rare earths watching this interview presently, the Chinese control almost exclusively the processing of these magnetic materials. So can talk a little bit more about how this might provide additional sustainability and competitive advantages for any technology company and would be interesting to any country around the world. Look, I think no one supplier or one customer wants to be beholden to one country or one producer. So whether it be China dominating the market or the US or Australia, I think end customers want diversification across their supply chain. So at the moment, there's only one other project outside of China of any real substance that is producing material and that's obviously Linus, who mine in Australia and process in Malaysia. And I think the volume of our furors material in terms of the size of the resource, the length of time, which we've got a life of mine of at least 30 years, the tier one jurisdiction in terms of sovereign risk being in Australia. I think that positions our furor nicely to feed into a growing market where there is limited supply and growing demand through electric vehicle applications. So in terms of our competitive advantage, while some of our cost structures might be a little bit higher because we're doing it in a tier one jurisdiction. And therefore we've got a little bit more regulatory paperwork and red tape to get through. I think in the long term, our customers will want not just stewardship over their supply chain, but also they'll want to understand how we are managing our waste products and how we're dealing with our environmental and social license to operate issues. And we can prove all of that because we've received both federal government and Northern Territory Government environmental approval. So that's a distinct advantage we feel. So with just recently announcing the successful operations of Nolan's Phase 6 pilot plant and you're talking about working on having meaningful discussions with off-take potential partners presently, can you tell us what your shareholders should be looking forward to besides everybody's looking at Australia right now with help us with our critical materials? What we might be looking forward to in the next quarter or two? Sure. Look, we've just finished a share purchase plan which I thank all our shareholders for again supporting the company. We have copped some criticism in the past for being too methodical and constantly piloting, but that's been as a result of the feedback we receive from investors in the marketplace that have seen commissioning issues in other plants and just from general feedback. So we hope that by being patient and by stepping through these processes, including our piloting activities, that we can de-risk the project when we actually go to construct and commission. So 2019 is gearing up to be a really big one for Arafura. We'll complete our feasibility study in the first quarter of next year and that obviously will then assist us in securing off-take arrangements and ultimately project financing so that we can lead into construction, commissioning and full-time production. So a really big 2019 ahead for us and our shareholders and the world more widely. Okay, well Gavin I'll tell you, we'd like to see you in interviews more often. I'm just going to take this opportunity to say this in this interview and thank you so much for updating us today. No problem Tracy, thanks very much for having me.