 Today I have the pleasure of speaking with Jack Lyfton. How are you today Jack? I'm very good Tracy. Thank you. Jack We have all kinds of commentators Sending me emails constantly about what Jack thinks so we're delighted to have you here And I'm going to start with your Chinese investment strategy for natural resources I thought that piece was very insightful. Can you give us kind of an overview? What I think is that China has basically turned 180 degrees in the last three or four years and now They are actively looking for natural resources outside of China to own to buy to put into production and To bring back the products to China the thing that I think is overlooked by North American investors is that the Chinese are not doing this to make money in the stock market they're doing it to produce goods for the Chinese market the natural resources of raw materials and every day I find out about more and more Chinese investor incursions into the natural resource market worldwide and The thing that's really stopping. There's two things that are stopping them One is political issues in some countries just don't don't want Chinese investment for political reasons and the other is I'm going to invent a Woody Allen word Greeneosity they they're not naive. They just don't they don't know Exactly where in the development of a natural resource they would they should go in they of course would prefer Producing companies if they if they could I suspect they would buy real tent over volley or somebody like that But they they I think that my opinion is that many Chinese companies look upon our resource Market in the West it more holistically than they should like like they they seem to think that a junior mind You're struggling to bring something into production is about the same as somebody three or four steps down the road It was actually producing something so I think They're they're rapidly moving to clarify their their their outlook and they're beginning to understand I know that They are not asking for a lot of help outside not withstanding events that occur from day to day, but They have to have it because As as they tell us, you know, they say you don't you don't know anything about our Country because you don't speak our language and you don't read our newspapers Well, I have to say it's the same for them And so this is a whole new world and when people ask you what should I invest and I say well I don't know what what is the Chinese aluminum company been looking at lately? I'm watching China's acquisition of natural resources and that's that's what I'm looking to make future investments For example, one of the hottest thing I was in China last week all they want to talk about is lithium. Isn't that interesting? All right, I have a number of questions here obviously Okay, so I was speaking with Adrian Nixon also from investor Intel who was saying that when you make Decisions about doing business with the Chinese you have to decide whether or not you're you know You have the same understanding of long-term the Chinese are Well known for having long-term vision. So going back to the long-term vision We've spent a lot of time on investor Intel talking about sustainability What are the benefits for us in North America for instance and allowing the Chinese to make so many? acquisitions here in the resource sector It it helps us stay in business quite frankly North America has far better Mining and refining technology and fabrication technology than the Chinese have by a long shot They're learning from us ultimately of course They won't need us anymore because they will have learned but this is the history of the world We look we learn from the British The British learn from someone else. This is how it works I think that at the moment Chinese should be viewed as Definite benefit to North American resource development because they're coming in here to keep companies going and to Surprisingly enough to me Entering at a very low level IE even at the junior level. They're looking at companies companies that aren't yet producing But but have a something in development This is a big change of the so-called sea change for the Chinese because in the past They only want to develop companies and quite frankly They they have to leave the management and the workforce the same because these are the people that know how to do it No, you know if a Chinese company for example America now has a very large automotive glass company in Columbus, Ohio It's a Chinese company and it employs 400 people from Columbus and one or two Chinese managers Americans are simply Resistant to the idea that that they can be colonized But the fact is in in resource development if you're not going to do it for yourself Somebody else is going to do it for you. All right, so I'm going to step back and ask you the same question from a different angle So say a lithium Exploration plate because they're popping up everywhere and you're saying the Chinese are interested in lithium and they're interested in Seed level exploration plays to make investments and acquisitions And this is consistent with a lot of emails that we're receiving presently now the disadvantage However is in looking long term once they come in and even though we have a more competitive technology, which you're discussing What happens, you know 40 50 years ago or 40 50 years from now when they not only have our technology But then they own all of our assets What happens? Well, I would be 126 years old, so I'm not going to worry about it But if I were you I would worry about it What this is the natural course of things by the way You're assuming that everything will go the for the in the Chinese to the Chinese benefit for the next 40 years If you can recall that we said this about the Japanese about the Arabic nations Probably India will be next. What's going to happen is business will go on because Markets are more important than resources. So where's the market right now? The market for natural resources is East Asia. Let's face it 60% of the world's metal goes to that part of the world that that may or may not always be true Because even the Chinese society will mature one day to the point where it doesn't need additional material At which point we'll be complaining that the Chinese are trying to sell too many things here again Okay, right now we buy cheap things from the Chinese. We don't buy computers That they've designed and we don't buy aircraft things like that We buy cheap things. They're trying to get into higher tech things more valuable things We're very competitive in that and we're way ahead of them. So don't just think about natural resources world markets are getting much more Sophisticated as time goes on. I can't predict the future if I could You know, I would make a living that way Jack, thank you so much for joining us today. Okay, you're welcome