Japan and Korea. They are contractually bound, but they don't have the material. And what that means is that they will pay virtually anything from the raw material. So the dynamic in th- you know, that I'm describing is one that's very different to what most people might be used to in natural resources markets because, you know, if you took iron ore as an example, that's a very large liquid pool of available product. That's not what, what's represented by an industrial minerals supply chain where people are, um, have built purpose… you know, purpose build chemical facilities to match a combination of import raw materials fee for a defined quality to a customer, there's probably a inaudible trust in the down stream. So, so all those dynamics create something that's very unusual in the pricing world when there's such a bad disconnect between available supply and surging demands. So, so that's what's going on in spodumene markets. Quite incredible. I think Pilgrim Minerals is really well placed. We've probably outperformed as it relates to price received in the December quarter. And the March quarter is already looking very, very strong. So we've guarded to between 2,600 and 3,000 US dollars a ton CIF China on a 6% spodumene basis. Um, because we see lithium chemicals pricing being very strong which represents a, a key, a key peg to our spodumene price. So, so yeah. Incredible times. Um, but nonetheless, Pilgrim Minerals will be having it's day in the sun. So that's the detail in the, the spodumene market. The other means by which we look to take advantage of that is through the, the BMX platform. The BMX platform, um, will typically handle, uh, excess products from our inaudible production, most of which is coming through the inaudible in overdue production, which is coming. We've only been producing through the H&S circuits so far. Um, we're continuing to strip away that and this location circuit with the expectation that this location starts during the latter part of the current quarter. Um, in which case we should have more product available for the BMX platform, um, and we're looking forward to the price discovery that that flushes out. So, to close. Uh, in summary, um, it's a challenge bringing on the two plants and the expanded capacity that they represent, especially in light of, but the type inaudible market, um, that WA currently suffers from, we're all looking forward to the borders opening because it's ultimately, it should provide some relief to those type labor market conditions. Um, inaudible whilst with a challenging quarter, uh, it's not just Pilgrim Minerals experience, we expect that just about every resources company is going through similar issues, including the other, uh, the other lithium raw material providers. What does that point to? Well it points to, at least in part, constraint supply, which points to probably higher price. We think we are really well placed to take advantage of that in the coming quarters. Um, I'm confident in the team and their ability to, to bring on the remaining capacity. Um, in which case we will have a very, very good year. Rachel, I'm going to throw it back to you. I'm sure that we've plenty of interesting questions, uh, one phone call but equally some that will come out of our webcast. So, yeah, look forward to people's questions. Thank you, Rachel. Thank you. If you wish to ask a question, please press star one on your telephone and wait for your name to be announced. If you wish to cancel your request, please press start two. If you are on a speaker phone, please pick up the handset to ask your question. Your first question comes from Al Harvey from JP Morgan. Please go ahead. Hey guys, Ken and team. Uh, just a couple from me. Um, perhaps just starting with the recovery, um, across Pilgangoora. Just wondering with, uh, Ngungaju, when do you think… uh, what's kind of the expected maximum recovery you'll think you'll be able to get there once you bring the inaudible online. And what sort of timing do you think we might be able to, um, see that across? Yeah, Al, yeah so in the details there, um, Pilgan was compromised by the new equipment being brought on as part of the improvements project and the effect of a less than optimal blend. Um, so that we experienced recovery at Pilgan at sort of 65% versus 75%. Uh, at Ngungaju, the recovery was materially lower while we're using inaudible silica with the transitional ore. So nominally, 30% recovery until we bring on the inaudible circuits. Target recovery for Ngungaju over time, with a fully optimized circuit, is likely in the order of high 60s, 70% as compared to Pilgan being 75% per inaudible, so. Yeah, that's really helpful. Thanks Ken. Just secondly, just on the FID sort of inaudible and P1000, just I'm wondering, how long after FYC, if, if they are successful, could work in the, given the inaudible labor markets your seeing. And just any commentary on the perhaps percentage increase s in capex. You've been staying relatively priced. Yeah. So, I'll try to inaudible. Into the timing around inaudible target execution of the inaudible posted by the. The good news is for the P6A could be, could be fairly quick, um, it's been a, that project is effectively an expansion to the HMS inaudible. Um, so the function of engineering timing normally inaudible construction could, could be soon. Could be as soon as six months, starting as soon as six months inaudible. But we wouldn't expect, um, likely, the, the ramp up of that for maybe 9 to 12- unlikely that the ramp up of that, so maybe nine to 12 months post- FID. Um, that's largely driven by our estimates around long leads. Um, as to, uh, capital, um, increase and cost increases, uh, we've definitely observed, uh, escalation a- a- across the board. That's in the WA environment, steel prices and the like. Uh, we haven't translated that through quite yet t- to the, to the CapEx forecast for this particular project, but of course we will, we will do that, uh, by, by the FID decision. Hope that answers your question now. Yeah, thanks, Dale, and just maybe with the P1000, d- do you, you think that will have a, a longer, um, a build time frame after FID just given that it's bigger? The, well, one of the questions we haven't resolved yet is, is actually the staging of, of that particular part of expansion. It's potential that we might uh, choose to forward order long leads and the long leads of the both those two expansions really drives the critical part, it's not so much, uh, in our view of a labor, um, um, constraint. It's more long leads, and uh, as it relates to the, um, P1000. Uh, the good news there is, uh, we already have, uh, the HPGR for that circuit. Um, so for us, it would be really around looking at bore mill, timing, and, and deployed cells principally. All the other things