 Today, I have the pleasure of speaking with George Bach from Northern Minerals. How are you today? Yeah, good thanks. Tracy, how are you? I'm so happy to speak to you because we all want to know what's happening with the rare earth prices out of China, and we know that you're in China all the time. What's happening specifically with dysprosium, George? Okay, Tracy, yeah, recent trips into both China and Japan. The feedback we're getting is that the prices of rare earth, in particular dysprosium, people believe it's at the bottom. Now, that's a big statement because we've seen prices decline steadily over 2015. But we're getting a sentiment that there's a general procurement people back in the market starting to purchase again. Stockpiles are declining. Of course, your forecast on the rare earth prices is outstanding news for all of us in the industry, George. But you've also been putting out a lot of great news lately, including an update on your Browns Range project. Can you tell us about that a little bit? Thank you. Yeah, Tracy, 2015 continues to be a busy year for us, and we've put out a couple of outstanding press releases in the past few weeks. One of them relates to the marketing side of our project. Now, if you go back to a definitive feasibility study we put out in March of this year, we talked about selling a mixed rare earth carbonate. As part of our detailed discussions with customers, we've realized the need to provide a variety of products to the market. So we're expanding our product offerings from mixed rare earth carbonate into individual oxides as well as DIY metal. So we're now talking about entering into toll treating arrangements with solvent extraction plants and metal converters so that we can provide more things to the market. The other thing we've been able to achieve is the removal of yttrium. Now, a lot of people saw the volume of yttrium we had as a bit of an issue. Given it's zentatum and zentatum has over 60% of its distribution as yttrium. We needed to look at how we could reduce that. And one of the most successful things we've done is to be able to do that within the hydro metallurgical plant and that allows us to have a significant cost benefit. I don't think people understand how advanced your heavy rare earth project is as you are vying literally for the top of the food chain in the rare earth industry right now with specifically magnetic materials. I mean, you're going towards construction here in this next year. So let me just back you up. What you're telling us is that you're really aggressively going after offtake agreements with this wider range of magnetic material concentrates. Is that what you're saying? Tracy, look exactly right. What the focus is of the company at the moment is offtakes and financing. So we're trying to bundle that together so we get our funding in place to start construction. All our licensing is in place and we're ready to go. And we will be a major contributor, as you said, in the magnet industry. I noticed that there's a discussion about the removal of yttrium and how this is going to increase the profitability for the company. Can you talk to us about this? The key thing with the yttrium removal is to offer a more profitable mixed rare earth carbonate. It's to reduce the volume that's going into the solvent extraction so we can really focus on the key valuable metals that we have. And that's disposal number one, terbium number two and laticium number three. So what's been really important in the process has been to do it at zero cost. So it's not adding costs. It's doing it cost neutral. And there was also an inclusion about the modification of mining. Would you like to add anything about that? Yeah, look, in these current times that the entire commodity industry goes through, it means we've got to continually review the economics. How can we do it better? And since the DFS, we've really had a chance to have a look at all of our key drivers. And in mining, we're going to change the mining method and that will reduce our costs at Wolverine by up to 40%. Of course, one of your more recent news releases had to do with the issuance of options to Gen Mining, your partner. Can you give our audience a little bit more background about your partner? So Tracy, with Gen Mining, they're a nickel miner based in Shanghai with a project up in Canada, your part of the world. They're looking to diversify and spread their offerings away from just being a nickel miner and looking at other strategic metals, one of which is rare earths. So we're just in the cusp of completing this transaction and just waiting for PRC approvals, board approval and fund transfers should occur very shortly. George, well I have you since you're a magnetic material rare earth expert. What I'd really like you to do is once and for all debunk this myth that people want to replace dysbrosium or DY in permanent magnets. Can you talk to us about this? Look, Tracy, the feedback we're getting from the industry is that thrifting is occurring. People are reducing the amount of DY being used, but nowhere near the levels that's being discussed and talked about in the media about zero or substantial reductions. It's still a critical element and it will be in the near future. What we've got to do is make sure we get security and supply to give people the confidence to make sure they keep using it and getting the best performance magnets in those key products. Well George, thank you so much for joining us today and let's see that coffee mug. Thanks, Tracy.