 Hi, this is Jack Lipton and today I'm speaking with Peter Huggendorn and he's going to tell us about his very, very interesting hodash project in Utah. Peter, how are you today? I'm very well. Thank you. Thanks for having me. I'm fascinated by your project because it's been completely overlooked in the American politics and the fact is that human beings require food, warmth, and safety. Number one is food. I think that personally that your project is much more important to the American way of life than all the cell phones and television sets in the universe. And yet that's all we hear about is electric cars and cell phones and toys like that. And very few people in America today understand anything about where our food comes from. A century ago, I believe 90% of Americans were involved in food production. Today it's 3% and that's a vanishing 3%. So please tell us what you're planning to produce in Utah and why it's important and then tell us where we get it because I understand from you that America imports almost all of its needs of this very, very critical mineral. Please, go ahead. You're 100% right, Jack. Potash is an essential mineral. Life on earth does not exist without potassium, phosphate, and nitrogen, NPK. Potash is a growing commodity. The demand is growing, ever growing, Southeast Asia, South America. These are very, very large growth areas of potash consumption. And the problem with the post-COVID world now and with the war between Russia and Ukraine, Belarus is basically offline, which is about 40% of potash production. And so is Canada's about 40% of potash production. So everybody's now concerned about national food security. In the US, you've got shrinking acreage as well, arable land. So you've got to get more and more yield. And to get yield, you need fertilizer. And potassium chloride, which is what we're producing, will be producing, is a naturally occurring fertilizer. Plants cannot grow without it. So every time a crop leaves the, is harvested, it takes the potash that's, or the potassium that's in the soil, and it's got to be replaced. So our project is really the largest deposit close to production for US production. And by being there, we are saving the local market somewhere between $150 and $225 a ton of freight costs from Saskatchewan. From other places in the world, it'll be far, far more. If you're producing in Gabon, for instance, or somewhere else in Africa, you're looking at hundreds of dollars per ton. So the marketplace suggests that this is a good place to be producing potash. Will you be able to produce and make money? What's your cost? Well, we're still doing, I can't give our hard costs at this point because we're still doing what's called a PEA. But because we, the economic attributes of our deposit are very, very favorable. It's a very high grade deposit. It's running 43% KCL, which is very, very high grade. It's got very, very low insoluble, very low carnalite. And it's at a depth where potash already has a temperature, ambient temperature of 68 degrees. Potash goes into full solution at 62 degrees. So we don't have to incur those heavy natural gas costs of heating the brines that are sent down into the cavern to dissolve the potash to bring it back to the surface. So our production costs will definitely be in the lowest quartile. And where is your deposit located? It's located in what's called the four corners of Utah, Colorado, New Mexico and Arizona. So it's a good area. Anything in that area brings to my mind anyway, NGOs and Native American restrictions on their land. Why or why not are these not issues for your company? So our land package, we've got about 90,000 acres, 58,000 of it is BLM and that's, you know, that's admittedly very difficult to permit. But by the same token, it is acres that we control that nobody else can get by having those applications. The bulk of our land is made up of for production is made up of a combination of state and private mineral leases. Those are readily permitable. And the state of Utah is very, very aggressive on developing resources. The state land trust, which controls the leases that we're going to be starting production on that 5% royalty and 15% royalty on the oil and gas and things like that, but the state controls in their leases that finances their school system. They have probably the most sophisticated and best school facilities on the planet. So they're very aggressive on permitting projects that will generate generational wealth and revenues for their education system. When will you be producing and how much? We are doing plans for regional production, which will probably take us to about a half million tons. It'll take us a while to get there. We're going to do it in increments and in modules so that each module is a standalone economic unit where we will not be risking capital that will be left stranded. We are initiating a drilling program that we'll be starting in if we're permitting for right now. The drilling will get us two geologic holes. One will, which will give us resource data again, and will bring us from 280 million tons of inferred to a measured indicated number. But they'll also double as production holes and disposal holes. So the one hole will be used to develop a cavern that will be starting this year. And that'll go in an awful long ways to actually doing a minimal amount of production, but we'll be able to tighten up all of the economics, the chemistry. And so by this time next year, we hope, or maybe a month or two later, but we hope to be in a limited pilot production of somewhere around 15,000 tons. And then we'll be able to bring for bigger units. One last question. What's the American domestic demand and what percentage of that do you expect to be able to capture? So we've got a two pronged approach. The US currently uses about 11 million tons. They only produce about 3% of what they need. As I said, we're hoping to be a regional player of about a half million tons. But what we're also hoping to do at the same time is to show that this is a tier one deposit, that if somebody else with a bigger marketing footprint where we're going to do 400, 500 thousand tons, a major corporation could do a million, 2 million, 3 million tons. And we'd be a target for them to take out to do that. That's really the approach that we're taking here. Thank you for that very, very interesting discussion. And I wish you luck because I like to eat. Yeah, we all do. Thanks, Jack. Thanks a lot. Thanks for your time.