Powering Tomorrow: Critical Elements Lithium Corp.

0:03 Hello everyone and thank you for joining us today for Critical Element Lithium's inaugural 6 event. Today we're joined by CEO Jean-Sebastien Lavallee and Director of Exploration Ken Williamson. But before we begin, please note that this is a live event. To make the most of it, we always encourage you to ask questions in the chat. As always, this event is being recorded and will be available shortly after we conclude. With that said, Jean-Sebastien and Ken will lay the foundation of the presentation and then we'll kick off the Q&A session. So gentlemen, the floor is yours.

0:36 Great, thank you Kyle. Good morning everyone. So we'll start with the presentation. So Ken, let you turn the page. A little usual disclaimer, you can see it on the website and the presentation on the website also. So if we start with critical alignment vision, really we want to become a responsible lithium supplier for the EV market and energy storage system industry. And we want to take the opportunity of the Rose Lithium 10 Lum project, which is the most advanced project in the corporation. But always like to mention also that we own more than 1000 square kilometers with love potential for new discovery, even for lithium or polymetallic minerals.

1:22 Our project located in Quebec, James Bay, good infrastructure in place. We have also agreement with the Cree Nation with an IBA that was formalized in 2019. Important to mention, Rose LeSion project also received decision statement from the federal authorities and global certificate of authorization from the provincial government. Next. So if we look at corporate structure, 232 million shares out, market cap around 100 million, management owned close to 5% and we have coverage from 5 firm.

2:04 We'll talk a bit about the lithium market. So if we look the main market remain EV. We're looking at 25 overall. We're talking around 22 million units sales around the world. Still growing 30% year to year. But obviously when we look at the second box, we can see that China represents more than 60% market share with 30% growth. What we're seeing now is European market is still growing now at over 30% but represent 20% of the market share and North America obviously is a bit lower with 10% market share mostly Quebec, BC, California with a 12% growth.

2:52 Now if we look at data center which is driving demand at the moment with AI, we can see that demand for energy for the center is really moving up. We expect 2.5 times by 2030 and that's translating to lithium carbonate demand also. So we can see 2025 we were talking around 300,000 tons LCE demand for data center and we expect that demand to grow up to 1 million times a year within the next 4 years so which is very soon. So if we look at how these things translate So if we look at the top left box, we can see again, 25, around 22M units sales in the EV market. But what is interesting to look is what is the expectation for 2030, 2035.

3:46 So if we look at the bottom box on the left, we can see that 205 was the market shares of around 23% for EV, but we expect this to increase to 40% by the next 4 years. If we look then in terms of data center and energy storage units, we can see that from 2020 up to 2025, there is a substantial growth in that sector. And looking at 2030, we can see that that demand will increase significantly from 300GW up to 800GW. What is important for us is what that means in terms of Lithium. If we look at the top right chart, we look at 25 in terms of supply-demand.

4:31 We were talking about 1.3Mt LCE for 2025. And when we look at projection, by 2030, we're talking at 2.5Mt to 3Mt of demand, which is a significant increase from now up to 2030. It's mainly the double in terms of demand coming. We think with the Rose Lithium project, which is having all the key permit in place, one of the most advanced projects in North America that we're very well placed to capture that demand.

5:07 If we look at the critical element portfolio, more than 1,000 square kilometres, you can see the pink star is the Rose Lithium Tantalum project. Just on the west of it, on the left, you can see a small blue bubble. That's the Rose West Discovery, which we are drilling at the moment, a 10,000m drill program. The south part is what we call the Namaska Belt, which covers more than 100 kilometers over the NISQ break, and which also owes the NISQ and New Lion Zone discovery made by Power Metallic, in which we still own 20% carry interest.

5:47 So if we look at the key things that being achieved in terms of milestone for the roses and project. IBA being formalized in 2019. The decision statement with the federal government in 2021. The global certificate of authorization with the provincial government restoration plan in place approval for the displacement of the power line. The physicality study that being upgraded in 2023. The mining lease is in place also for the project. Land use lease for the key facilities, which include industrial pad, waste and tailing pad and storage pad. And also the work camp lease is also in place. Over the last year, we also received a conditional contribution from the CMIF for 20 million for the project construction for the substation.

6:42 And we also have in hand a conditional support letter from a leading institution for up to $115M in long-term debt.

6:54 If we look at the key numbers from the Fisbis Study of Grade in 2023, we're talking about 17 years mine life project, a 2.2 billion after tax NPV, and a 65.7% IR. The capex to build the project 471 million US, in which what we're looking

7:18 to complete in project financing is around $550 million, which includes financing fees and interest over the debt during the construction period. Cost to produce spodumene from the study, around $650 a tonne, And as of today, if we look at today lithium spodumene price, we've seen again increase this morning. We're talking at over $2,300 a tonne. So very strong economy here.

7:49 So now we'll talk a bit more about the exploration. I also want to introduce Ken that joined the corporation recently and involved in all the exploration as director of exploration. So if we look at the next slide, Ken. Yeah, we have really packages. There is the Rose package, which is more Lithium focused with the Rose Lithium deposit and the Rose West zone, which we're currently conducting a 10,000 meter drill program. And there's also the Namaska Bell Park package, which is more focused on putting metallic mineralization on which we also did love work over the summer and where the lion's own being discovered by power metallic.

8:37 Okay, and I will let you jump in with, no, you can go on the next slide. All right. Next one. Yep, so here Ken, I'll let you jump in from the floor. So the floor is mine. Thank you, Jean-Sébastien. Just a quick 10 seconds of who I am, for those who don't know me. What you will hear from me is mainly structural geology driven, because I'm a structural geologist by formation, and been spending my entire career, I guess, looking at deformed rocks and trying to model them in 3D. So my main implication here with Critical Element is to take those skills and knowledge that is structural geology and 3D modeling and try to apply that to whatever we'll be doing.

9:37 And the start of it was with ROSE West. So, what I'm going to do now is basically presenting you guys the different slides that we have presented in the press release that was released a couple of weeks back prior the beginning of our drilling program. And then I'll represent the same exact images, but in a 3D context, directly live in LeapFrog, after I'm done with the static images. So as Jean-Sebastien was mentioning, Rose West is located tens of kilometers west of Rose, which is a known lithium deposit.

10:25 Rose West shared the same characteristics as Rose, So whatever we see there is not a big surprise, accordingly to Jean-Sébastien and the other geos that are used to this project. I'm new, so I have everything to learn here in terms of pegmatite mineralization and spidermen-rich rocks and things like that, but it doesn't matter on the structural geology of this. So now, Rose West is very, very similar to Rose. So what is Rose West? Well, it's a pegmatite-oasted deposit full of spudimen, those pegmatites, when they are mineralized. And those pegmatites are oasted themselves within gabbros, which are themselves oasted within granitic rocks.

11:15 So it's a sequence of developing intrusive, within an intrusive, and then at the later stages of the geological story there, those spegmatites got into place within, preferentially the gabbros, and that's due to a competency contrast between the granitic ostrock and those mafic gabbros. So primary target, we're looking for them gabbros all over the place here in the area and lucky for us, them gabbros are flat for the most part. So it's not difficult to find where they are on surface, they're below us. So the key question becomes at what depth are we going to find them?

12:07 So, and it leads us to what are we trying to reach as objectives here, for that exploration project or program that we're running now. Well, first and foremost, it's going to be expanding the mineral resource, or I should call this a mineral inventory, that we have at Rose West right now. And That inventory is based on a few 25-ish holes that were drilled in 2024. That came back with a decent footprint. We'll have images about this in a short while, but decent footprint of, if my memory is correct, was something like 350 meters by 450 meters, something like that as a footprint initially, And what's really cool about ROSE West is the intersection we get of pegnatites appears to be thicker and richer, more lithium content than what we have at ROSE, which is kind of cool in itself. It seems that the satellite deposit has a chance to become richer and bigger perhaps than the main deposit that we have at this stage.

13:29 So focusing on expanding that mineral inventory around the Rose West Discovery, which involves obviously confirming continuity of the geology and mineralization, and specifically focusing on the east and west of that zone. I'll get to it a little bit better in about a minute from now. And second objective is to execute that 10,000 meter drill program at Rose West. And all of this, that new metreage, in order to expand the zone, confirm the zone, and end up with a mineral resource estimate by the end of this year.

14:22 If we go back to historical results that we got in 2024, pretty impressive. I'm not going to read through that entire list, but when you see over 1% most of the time 1.5% lithium and a fair amount of tantalum in there, it makes it very attractive when you compare to what ROSE is with all the permitting and pre-fees and whatsoever else. You look at them numbers, they look almost better than what ROSE is. So the only thing basically we need is to confirm that this, that we have on screen, is continuous in a much bigger size than what it is right now.

15:11 So that plan view shows a little bit what's what in terms of dimension. The yellow square is that 350 by or 70 I guess to be more precise by 450 meter footprint that we have and all of this is infilled with those 24, I believe to be precise, drill holes that were drilled in 2024. So we'd be already ready to initiate a mineral resource estimate on that small block, but it's not very big. That's why we're drilling this.

15:54 We've defined 2 sectors, the East sector and the Central 1. The Central 1 is very easy. As you can see, there's a grid displayed on screen there.

16:15 Because of the flat attitude of those pegmatites, it's very conveniently drilled on a grid. So you basically set up a grid at whatever spacing you want in the field and you basically drill a hole at every intersection of grid lines as it's displayed here. So we've selected a grid pattern of 200 meters spacing, or 100 meters spacing for the most part, and 200 meter spacing on the eastern target. So what's happening here is... Yeah we have the core which is that yellow spot and What we intend doing with the core area is very simply drilling around and expanding as we go.

17:11 No matter what ways we'll be using to do this, it will be depending on field condition and if the ground is ready for us and things like that, but essentially we want to cover this entire red square here and that would expand the zone by something like 250 meters all around it. So we'd have a decent size here, almost a kilometer long, by a little over 1 kilometer in footprint there. So that would quadruple, if not times 5, the size of that footprint that we have. And we have good hopes too, based on the geology that we know of, and I'll get back to this in Leapfrog in a short while, that the whole thing here is continuous towards the east. And as a reminder, getting towards the east will lead us towards the bow at one point, in a pretty much linear way.

18:14 From the results that we had in 2024, there's a definite dip towards the east, so it's gently plunging at about 10 to 15 degrees in that direction. So the east target area we anticipate to be a little deeper than what we had in the West or

18:41 core area. So the other structural component that we've focusing on right now are those 2 dashed lines that are cutting across from northwest to southeast here. Those are interpreted faults that we've interpreted from the MAG but also from the drilling done in 2024 where we see very badly deformed rocks just before entering the mineralized zone, it seems that there is some sort of a shear or fault zone, let's call it a structure, impacting and affecting the minerized body. So what does it do? We'll have a look at this in section view now.

19:27 We're looking at line I. If I go back here, line I would be the northernmost section of what is known as mineralization right now. What we can see is a bunch of good results that were drilled a couple of years back. But what I want to put emphasis on here is the slight changes in dip that we are observing from that historical drilling.

19:58 For instance, from those hits here, the trend appears to be a little steeper, as it's shown globally here in the general section. And at one point, it seems to become flatter again. And that, our interpretation right now is because there is a structural corridor impacting the pegmatite geometry in this area and the result is having the pegmatite rising up it seems when it passes through that structural corridor.

20:36 So I'm not yet in a position to document better what is happening in terms of timing relationship, timing of deformation versus the pigmentite emplacement and things like that, all of those crunchy details will come in the next weeks I presume. So if we look at the other section which is right in the core, that's line E, if I go back, would be line E here, well the southernmost I guess, or near to the core of the zone, we'll see the exact same geometry happening but much more pronounced that time between 014 and 015, you can see a major drop vertically down of about 100 meter, so that geometry has been resolved in 3D, What I mean by this is we've designed the intersection lineation between that pegmatite and the projection of those fault traces and we're now following that intersection line to better decide I guess at which depth each of them drill holes has to be drilled to make sure that we're not missing the zone that we're looking for.

22:00 That being said, this is based on data from a couple years back. As good structural geologists would know, if you observe something in some places, if you can lock in to a repetition, well, please copy-paste that same geometry all over the place and test it. So, that's pretty much the approach that we're having now. We've identified on the mag another fault or series of structures, a little bit further east of where we saw and where we know there is, there are structures or structural corridor there and we've basically interpreted other faults to be repeating themselves at about every 200 meters or so and then each and every time we'll cross that zone we're anticipating a little bit of a drop down on the pegmatite interception.

22:59 So that remains to be seen, again we'll come back to you guys with more crunchy details once we have compiled all of that data and making sure that our hypotheses are working right. So the last static image here will be equivalent to what we could call the long view, but it's not really. If I go back here, we're looking at section 12, which is perpendicular to the 2 previous images that we've seen.

23:33 Usually, we'd see a very different image. But if I switch on that other cross-section, nothing much has changed except that the trend of them faults now is now reverse as compared to the other image. It's a visual artifact, it's just the cut I guess giving us an apparent trace of those faults in there. But again even if it's a trace we can still see that little waving that I've been mentioning and in between them faults corridor, what we get is a slight variation in geometry becomes a little steeper to become flatter again and then we anticipate it becomes steeper, flatter, steeper, flatter, etc.

24:25 And probably it goes there like since forever, maybe reaching Rose at one point, who knows, it's really far out, 10 kilometers away, but we're already hoping to be able to cover about 1.5, so we'll see, we'll keep you guys posted. Just before we get into that other section, let me please just bring back the same kind of images here but live in 3D and I'll just very quickly browse through it in 3D and just perhaps show you a couple more crunchy details and then I'll wrap it up.

25:11 So same image again, Rose, Rose West. I'm going to zoom in at Rose West here and just turning off that map. We kind of see the same image that we've seen. And just to put things in perspective, I'll just flip the model and do a complete spin, and you will be able to appreciate a little bit of the modeling that we've, that we're doing now and the location of them images that we've just seen. So, let's start with a view directly north and I'll explain what we see on screen as we go. So we kind of see the 2 sections getting through the model what we got on screen everything that is reddish colored is good stuff, so pegmatite dykes, aplitic dykes, easily recognizable in core and things like that, therefore easily modelable, so and everything that is modelable will do.

26:21 So that's that. And in gray, those 2 panels are the faults that we've interpreted from the kink or the drop down that we see. So now I'll just orient the camera here so we can kind of look in between those 2 faults. And I'll just clean up the image here so it's less blurry. And I'll eventually be able to show you in here the past drilling and what we get out of this. So I'm just going to turn off those sections, They kind of blurry the way a bit. What we can see before I turn on the real drilling done in 2024, this is the grid drilling pattern that I've been referring to. Basically, it's a very simple approach.

27:19 We've decided on surface where the start point would be. And then we've basically imposed on each of them drill holes the same azimuth and plunge all over the place and what we're trying to target is that flat panel design in red here. As you can see also there are some drill holes that are extended way down there so most of them drill holes are targeting the zone and once we reach the zone it's so easily recognizable in the core that we give ourself another extra 10 meters and we stop the drill hole there. So we're sure that we've gone through it.

28:06 That way we're saving tons of money, not drilling for nothing. However, there are maybe close to a dozen of holes that we intend voluntarily to push way further. The reason being is we're anticipating or we would like to verify, not anticipating nothing, sorry, but we would like to verify if underneath that main pegmatite, if there is another one, so because if there is 1 crack opening to allow a pegmatite to get in place there, within that gabbro the same principle could rinse and repeat in multiple places. So with that exploration program we want to test that as well and Should it come back positive with a second zone, then we would probably review our drilling strategy to take that into account.

29:10 Again, we'll keep you guys posted on any new discoveries we'll make, if we do. Now I think I'm going to end up probably very shortly with a couple of things, one more detail about the structural geology and then we'll look at the real drill holes from 2024. So here what we see is the main mineralization plain that has been projected to the east, to the south, north, et cetera. And now we can see our planning, the drilling planning, punching that surface as soon as we get out, ending the hole.

29:57 And then the relationship with that grey surface, that grey fault, and the very slightly plunging intersection line that defines the intersection of both. So what we're using now is defining structural domains. So we end up with, let's call it a western domain, an eastern domain and the central core, and we now are able to distinguish specific geometries that should be happening within that central core, so we're expecting pegmatites dipping down, becoming more subparallel to foliation perhaps and things of that nature, versus on each side should be more quiet with less deformation, flatter behavior, so that's the whole deal I guess.

30:56 Now if we look at the detail of all this, where it's all coming from. Let me just turn off a few things here and what I'm going to keep is very simply the the pigmented core that we've been looking to. That was in yellow. I'll just keep it, it's in red now. So, but the yellow square basically is that red volume that we see on screen. So, how has that been defined? Let me just pull out the drill holes. Geotech. I think it's that one here. And let me just put the legend here.

31:51 So what we have here is badly colored, which is just for me to have a better visual, but What we see those disks is Lithium Oxide percent. So above 1 is those white disks and above 1.5 would be gray and above 2% is black. So I just wanted to color contrast with the red mineralized zone and not having hot colors mixing in with this. We can see now, based on the 2024 drilling, it is very obvious that we have that kink happening. That's the first thing I kind of saw, observing the data very close to surface, in between or inside that core, structural corridor or core in here, as you can see projected up on surface and then slightly maybe 10s or 20 meters east of that a sudden drop in the geometry.

33:05 The zone is still there, very thick, very significant, as mineralized pegmatite, but simply diverging geometry. So if we look this view, well we're now looking at a combined view which is both showing that vertical drop but we're also looking up plunge of that intersection linearization I was talking before. So what this view shows us is clearly we should have in a western part here very very close to surface that should follow actually that trend that we have on surface.

33:56 All of it in here should be relatively close to surface. We're expecting a drop down past that line. Mineralization is still there, slightly deeper, becomes thicker, becomes flatter, more horizontal in that portion and as the mag appears to suggest, you know, end up with the mag in here, and then I'm done, I swear, I promise. That fault corridor that we're interpreting from the drilling also shows up in the mag, we believe. If you look at the mag breaks between what's high mag versus low mag, it seems that there is a trend cutting across.

34:47 It's very subtle, more obvious perhaps on that line in here, we see the the sharp mag high being cut in here, and then if we copy-paste as I was mentioning that distance over and over and over and over let me just do this because I haven't done it so far so it's now time just an end drawing so we have that fault we're interpreting this fault this is based from drilling and then if we were to copy-paste that same distance all over the place, like this for instance, Then we would start recognizing what I believe is the structural grain in the area, where past each of these lines we would expect a vertical displacement on the pegmatite.

35:46 So far what we see is a drop down, we may expect a rise up, depends on the geometry of the pegmatites, then dikes will behave the way they want with respect to the local geology in and around where they get in place. So it's going to be a case-by-case, probably. But I do believe that we've put the figure on something that allows us to predict where things are going to be. We will be doing a very good and well-defined drilling program. Conclusion here, it's a grid approach.

36:38 It looks like we don't have to think too much to drill a flat panel but there is good science being done in the background, you know, trying to use everything that we can to optimize that drilling and optimize the dollars being put in the ground. I think I've covered pretty much what we're trying to do so far, unless we're getting something. Did I forget something, Jean-Sebastien? All good, Ken. It's all good. I think we can jump to the some of the questions. No, it's great. I know the audience always loves when people demonstrate via LeapFrog. Thank you, Kent and thank you, John. We have time for a few questions here.

37:25 Let's dive in. Let's start with Robert's question. When do you expect to make public the first results of the 2026 drilling campaign for Rose West? The drill program is on the way. I will expect depending on how fast the lab are turning assays. Sometime by the end of March we hope to get some results out. In regard to Emily's question that has received a couple likes, 3D modeling is great for an approach, but what are you able to share without obviously draw results?

38:13 With the 3D modeling, Can you approximate a volume slash tonnage of the core zone on Rose West? I think on this we need to be careful not to... My general answer is That's exactly why I believe all projects should be, you know, be pushed in 3D model or in a 3D model form right away. Because remember guys, we're spending money in the ground for one reason and one reason only is to increase the size of that discovery. You know, so yeah, obviously I'm not going to talk about numbers, you guys can do back of the napkin calculations if you want, but if you look at the footprint that we're anticipating, it needs to be confirmed obviously, but you take at any footprint, any dimension, and then you look at the average thickness of that, anyone can end up with calculating a volume, you apply a density, you get tons, you apply a percentage of Lithium, you get, you know, some sort of a back of the napkin resource. I'm not going to tell those numbers, but the 3D modeling work that we do live while we're drilling and updating that model while we're drilling and using this model to propose or tweak

39:45 the next drill holes is exactly trying to reach that goal, which is increasing resource live. Those things will remain internal, but I'm a resource geologist, so everyone should be expecting that I will have a block model ready for our internal use at all times. That's my goal, my role. I've been hired to do that And we'll be using that block model to drill better and find opportunities, find new targets, infield drilling them targets and everything. And eventually we'll render that public by initiating a 43-101 process.

40:33 But nothing prevents us to do that resource work internally. And honestly, I've been doing that all my career, like you build a resource model and then you drill it. That's the reason why we do this. Back of the napkin calculation, sorry I'm not going to get into it Jean-Sebastien. Footprint is a footprint, thickness is a thickness. Multiply 2 numbers one by one. Nothing illegal doing that, but I am going to do that. I understand you're looking to increase the size. We were talking about this for the majority of the call, expanding the footprint. However, why don't you guys remind us how big the current discovery is, which you already have a fully permitted project for?

41:23 Yeah, for the Rose lithium deposit, we have a reserve of 26 million tons, and total resources 32 million tons. Sorry for me asking the question, Jean-Sébastien, but what's the footprint dimension of ROSE? ROSE is 1.4 by 800 meters by 1.4. The average thickness is a bit lower. Yeah, so essentially maybe it will answer a bunch of questions. If we were to compare ROSE with ROSE-West in terms of dimension, the image we see on screen, the red square, is essentially the dimension of what ROSE is, with the permits and things like that, right?

42:18 So ROSE-West is that yellow square right now. Well, essentially that red dotted line is the solid, the object that we've been looking at earlier. And we're anticipating based on continuity, obviously it remains to be seen in core with our own eyes, but based on knowledge that we've gathered in that core area, and if we're lucky and it's projected in all direction, then it could be very easy to end up with a decent sized footprint, much bigger than what we have now. In terms of size comparison, Hose West has the potential to become as big as Hose.

43:09 I'm new with the project, Jean-Sébastien could correct me if I'm wrong, but That's what I see with my scientific eyes. We have time for about 1 or 2 more questions. Robert joined us at the beginning of the call. Ken, You mentioned the potential for Lithium all over the property. Are you actively looking for others or are you focusing only on West for the time being? The focus with the drill program is on the Rose West zone, but We know that there's other occurrence on the property. We've been doing some surface work over the last summer and previous summer. There's other occurrence, but that's the zone that's being drilled in winter 2024, where we already see some continuity and good grade, good width.

44:02 Eventually, we might look at other targets too. If I may complement that, Jean-Sébastien, you had mentioned very briefly a second phase of our drilling program this year, which will be the Namaska Belt itself. We're talking there 120 kilometers of playground. That's a stretch. It's the Cadillac break, guys, from Rwanda to Val d'Or. You can imagine how many targets we'll have in there. What I'm trying to say now, getting back to Rose and Rose West, With that context, in the next weeks, I guess, we'll be in a position to present what we want to do in terms of Namaska Belt drilling and exploration approach and things like that.

45:00 At that time, I'll give you a scoop, probably, but at that time, what I'm going to be presenting is the overall picture that will be, you know, the entire thing that includes Rose West, Rose, Nemeska Belt, the different showings that we have all along Namaska Belt, and what are my hypotheses on why are they there? You know, what's the explanation to explain why is Nisk where Nisk is, and why is Lyon where Lyon is, and where Le Mars is where Le Mars is, and where Côte-Mont-Valliquette prospects are, you know, along that belt. And I think, I'm talking a bit through my hat, but I think overall what we will understand at one point, and is there, there is maybe a relationship in terms of global geology here, or general geology, there's maybe some sort of a dynamic happening between location of Rose West, location of Rose and what's happening further south. You know, if we follow those major structural corridors, again on the screen here, that fault corridor is from northwest to southeast.

46:21 Well it's a long long stretch but if you take that same orientation and shoot it within the Namaska belt what's happening at that that intersection between the NISQ trend and those North-West, South-East trending structures. So I'll leave it as that, but it's going to be at the end of the day a fully integrated geological picture that we want to put together. And that will eventually answer, I guess, the question, what's happening between Rose and Rose West? Because that area is going to be part of it. You know, we will want to know and interpret what's happening between Rose West, Rose and South of that, what's the connection between the Mescobelt and things like that. So it's going to be a very, very fun year, very busy year, but very in terms of goals and you know challenges in terms of science behind this it's going to be a freaking great year for sure.

47:30 I think that's a great note to leave it on Ken. Thank you so much to both of you for the presentation as well as everyone that submitted questions. Apologize, we're running out of time here. We can't get to them all, but I will pass it back to you, John, Sebastian, for any closing remarks before we wrap up here. Thanks everyone for joining today. I was happy to provide a more detailed explanation on the Rose West drill program. I will say thanks Ken because that's what you did and hopefully we get good results out of that drill program and we're confident that let's say we'll continue to make progress also with Rose with lithium price moving back in the right direction and we'll keep you posts on any progress. Great, thank you very much.