I would like to introduce Alexis from First Phosphate. Wow. A big crowd in New York. Very focused. Well, thank you for coming in. Thank you for the OTC Markets having us. I'm Alexis. I'm from First Phosphate. We are igneous phosphate for the lithium iron phosphate industry. We're based in Saguenay–Lac-Saint-Jean, Quebec. It's a beautiful region in Quebec, about two hours north of the city of Quebec. I'm here to talk to you about LFP and onshoring technology for the LFP batteries. This is the first LFP batteries made with only North American critical mineral. First Phosphate did that in 2025. We use our phosphate, our iron, some lithium from Century Lithium, and graphite from Nouveau Monde Graphite. I'm going to walk you through what we do at First Phosphate, and I hope you enjoy it. This after drinks. Why the LFP batteries? LFP batteries is the most common battery used as of today. It counts for 65% of our whole production. That's going to go all the way to 85% over the next decade. LFP batteries are very versatile. You use them like drones, electronic toothbrush, but as well as data center, large scale energy storage, EVs, and so on. What made them so popular is because they're cheaper to make than NMC batteries. They have a superior fire safety. They do have a well-defined performance and a higher charge-discharge efficiency as well. When you look at the chemistry of LFP batteries, they're called lithium iron phosphate or lithium iron batteries. But when you look at the content of lithium on one battery like that's only 4%. If you look at the stock market on any exchange, you can find about 150 names for lithium. There's maybe 100 for iron. But for phosphate, a company that is solely focused on LFP batteries, that will be us, First Phosphate. 61% of the positive side of that little battery is made of phosphate. I'm going to walk you through a little phosphate 101 because I'm pretty sure everyone knows about phosphate in the room. The most common usage for phosphate is agriculture. And you need a certain deposit to do agriculture, and you do need another deposit to do igneous phosphate. LFP batteries. Sedimentary phosphate rock on your right. The red things is the most common deposit for phosphate into the world. It's about 80% of all the deposit. It's a low-grade phosphate that you can find there with a concentration of 15% or 31%. When you transform it, you go to what we call a merchant-grade acid, MGA, and that goes to the fertilizer industry. Igneous phosphate rock, that is only 5% of all the deposit into the world. It is very rare and it is very pure. It is a rock with very low impurities. Sedimentary rocks, you have uranium and cadmium. Those are big hurdles when you export those products. In Saguenay–Lac-Saint-Jean, our rock doesn't get any of that. You get some phosphate, you get some iron, and some titanium as well, and we have some calcium. The calcium is used to do a very high quality gypsum that you can use in a construction. You basically convert 98% of the rock. When you transform it to do your phosphate, you have a very high, what you call PPA, purified phosphoric acid. When you go back on that little energy transition map from Benchmark Mineral, the first big one for the energy transition is copper, but the second one is actually PPA. It is not lithium, it is not cobalt, it is not graphite, it is PPA. There are only five producing assets of PPA in the Western world. You need about 33 new in the next decade to fulfill the demand. First Phosphate is going to be one. As I say, igneous phosphate is very rare. The little blue dots on the northern hemisphere are the igneous deposit. There are some in the southern hemisphere, but it is a different type of rocks, and it is very difficult to separate all the elements on those rocks. So they use for the agriculture and the food and the agriculture ecosystem. That is our deposit. It is a 2.3 km long deposit. The mineralization start at surface, and it remain open at depth. When we are going to be in production, that is going to be an open pit mine. So it is lower tremendously your CapEx. We did drill about 60,000 meters into that property. We have a very good understanding of what the resources are. We did publish our MRE and our indicated and reserve for the phosphate earlier this year. We did a PEA in 2024 on that property. We can extract about 900,000 tons of phosphate concentrate per annum. That is the equivalent of 50% of all EVs built in North America, so Mexico, Canada, and the U.S. The PEA has got very good metrics, so we have an NPV of CAD 2.1 billion. IRR is 37.1% on a 2.9-year payback. This is for a 23-year mine life. We drill 60,000 meters on that property. All the information are required to do what you call the feasibility studies. So within the end of the quarter or first quarter of 2027, we will publish our feasibility studies. This is a key slide. This is our locations in Saguenay–Lac-Saint-Jean, Quebec. This is Quebec City, and you go through a park. It is a very nice park. Probably right now the fall is so beautiful. You drive for two hours and you are in Saguenay. Saguenay, you have a deep sea port. It used to be for forestry and a lot of aluminum as well. You go to Europe there, and you get the rail that go to North America. Our property, the mine property is right here, 70 km far. I was there two weeks ago. It took me 45 minutes from the deep sea port Saguenay to go to the property. It is all paved road. Only the 8.5 km from the end are unpaved. But I was there with a minivan, so it is very clean from tree and everything. This was a forestry land, so it is very easy to access. There are those big walls and everything. You get the only niobium mine in production in North America in Saint-Honoré. That is 20 km from us, and this is Rio Tinto with all the aluminum facility. What I mean is you have skilled workforce that just leave at the door of your mine site. There is no camping get out. You are basically coming home every night after your work, so that is very good and very easy. The infrastructure is all there. We are about 1.5 km from hydro power. That is very good for us. You have the NATO airport right here at Saguenay as well. Easy coming in, coming out. This is the story of the- I am going to pass that to. Just that. It is a regular LFP cell. What we did. Well, let us go back a bit. First Phosphate, it is a threefold story. First Phosphate is step one all the way to step five. Step one a nd step two, it is what is going to happen at our mine site. We take the rock, we are going to crush it, separate it by flotation. It is a very clean process. We use amine, so there is no solvent to it. That is very keen for ESG people. This is how we do it. We do not use any chemicals to do the separations. Step one and step two is the mine site. The mine should be in production by the end of the decade, so 2029, 2030. Then what we are going to do is step three, so transfer that concentrate to a purified phosphoric acid, PPA. We are going to build a facility at a deep sea port of Saguenay to do so. That is the second floor. The third floor will come a little bit later on, step four and step five, is to make the cathode active material. All the positive side of LFP batteries. Step six is what is going around. The blue cell is not what we are going to do. We just wanted to prove that North America has got the technology and the savoir faire and the minerals to do manufacturing LFP batteries. I am just going to go that side first. We are a very young company. We started in 2023. I do not know if someone is aware of the timeframe to operate the mine from exploration to construction in Canada, roughly. It is 15- 20 years. We are into year four and we go in feasibility studies. We aiming, and it is very aggressive, we are aiming to be in production within seven years from the first discovery of the rocks. How we do that? We did secure a lot of different partnerships. We already have an offtake agreement for our rocks with Prayon. Prayon is a global leader of phosphoric acid to the world. They are licensing us their technology. They use a similar rocks that we have right now. It is igneous. They have been using that process for 70 years. There is no R&D at First Phosphate. All the money we have, we do it and we acquire technology that allows us to fast-track all the project. First Nation, we have in Canada, in everywhere, First Nation are very important. There is only one tribe in our lands called Mashteuiatsh. They take 1% of our capital as they are working alongside us to develop the project. They are very keen to have us moving forward. The Quebec provincial government, we have been elected alongside Dumont Nickel and Troilus Gold to have a fast track on our permitting. We have a team at the provincial level that is working on our permitting studies for the mine. Federal government of Canada, CAD 16.7 million non-repayable contribution for phosphate production process for the LFP. We received that in March this year. Then we got an additional CAD 4.8 million earlier in August to do the First and Last Mile of the mine. That goes for feasibility studies, they are very expensive, and goes for power and transmission line for the CAD 4.8 million. Again, three different letter of intent from export bank. We have EXIM Bank of the United States for $170 million of financing. We have SERV, was the Swiss export bank. It is a guarantee of $212 million. This is for a contract in an exchange with both Canada and Switzerland. Then we get the Danish bank for EIFO $170 million for equipment and services purchases. When we did the PEA, the CapEx was about $480 million. With the EIFO and SERV, we cover 80% of that CapEx on the debt though. Very advanced and very de-risked. That is us, John Passalacqua, our CEO. This is Armand MacKenzie, our president on the left. That is when we received the CAD 16.7 million from the government of Canada. That was during PDAC. Those are all [inaudible] on the, how do you say that, derrière. On the back are notable from the ambassador of Belgium. They come from Prayon, the Belgium entity. This is us who got invited in Evian for the G7 Leaders Summit. That was in June. There we were selected to be one of the project for the partnership in defense and critical mineral. We sign another definitive offtake agreement for 200,000 tons of phosphate concentrate. We received that letter of intent from SERV and the Danish export bank. As I say, 2023 when we started the company, we listed on the CSE, then the OTC went a bit later on. We are very glad to be on the OTC. They have been very easy to deal with, and we get access to a lot of different investors diversifying our investor base coming to the OTC. About our share structure, this is the Canadian price. We are trading on the OTCQX. The tickers are FRSDF. I think we are around at $1.40 today. That is a market cap of $375 million. We remain debt-free. It is very rare to find a mining developer debt-free at that level. We have a very tight float management board that own 20%. The CEO, John Passalacqua got 9.9%. First Nation has about 1% of the capital. We did raise by ourselves with no underwriter, about CAD 18 million to date. Everything has been reinvested in the company since the day. Board and management and most of the consultants get shares use as payment. We actually have CAD 25 million in the bank, and we have CAD 22 million from the government of Canada in facilities as well. We all cashed up for the next 18 months. We are going to go through our feasibility studies that will be published by early 2027. Then we move on to permitting. That is about a year and final investment decisions. That will be 18 months from now. We are fully cashed up until FID. That's a good run rate. A bit of board and management. We're mine to market. We have a lot of tech people with some administrative and we have some mining. The CEO and Director, John Passalacqua, has been on the capital markets since 16 years old. He's a father of five kids, very busy man. He's one of the hardest working CEO I've seen. He brought that story in the last four years, dedicated all his time and energy and money in that story. I'm a true believer on his executions. He knows very well the capital market that will be helping us when we raise the money. Our President is Armand MacKenzie. He is a lawyer by trade. He did build three different mines on his resume. Tata Steel, Sayona are the two big ones. He was part of the congregation that write the reconciliation right with the First Nations. He is our government relations specialist. Very good guy. Chairman is Laurence Zeifman. If you like hockey, he's the ex-owner of the Ottawa Senators. He doesn't really cross things with mining, but still, as a Canadian, we like hockey. Executive Vice-President David Dufour is a local in Chicoutimi. He is a very big entrepreneur there. He knows the sectors and you go to Saguenay, everyone knows everyone. It's like a big family. It's the fifth most populated region in Quebec, but still, everyone knows everyone. You need those kind of assets to be on the ground, put on the ground. Alcide Gio is an ex-Agnico Eagle. He's actually the guy that got his cabin the closest to the mine, so it's easy to do the consultation with the public when you have the Alcide Gio who's the next to the mine. That's about it. That's First Phosphate in a nutshell. I'm very happy to answer any questions. Alexis, any questions? [inaudible] Yeah. Yeah. Any milestone that you need to accomplish from the operational and strategy execution perspective beyond raising any additional capital or anything? That's a very good question. I think I mentioned it, the feasibility studies is one of the biggest takeaway because at the eyes of most of the institutional of this world, that being sovereign fund or pension fund or big banks, feasibility studies, that's where they look. They start looking at you. Until then, you're just like someone who's promoting a mineral or something, even if that mineral's proven to be useful in so many different things. I've just talked about the LFP batteries, but when you produce PPA, you can use that in medications or drugs, paint, water treatments, and that's going to be a tremendously small after that. Yeah. I think the feasibility studies is where people are waiting you at the gates and it'd be tremendous. That should be done by the end of December, early January. Thank you. I've just got a quick one. Battery capacity, a lot of it is built in the U.S. separate. How do you manage to feel about the tariffs or manage the tariffs when production starts? Is that something that comes up regularly? Not really at the moment. We talk a lot of tariff, and right now we try to do all our assets in Canada and substitute with our European partners. The third floor with the cathode active materials, all our partners from the States. So we're going to have to make the decisions at some point if, are you building the facility in Canada or in the U.S., just to be respectful to all the GPs that we've been signed. For now, the question is not there because the mine, we can't change the mine. The mine side, that's for sure. Even the phosphoric acid plant. You are the deep sea port, so if you want to export and things, that's what you get to do. The cathode active material, who's another part of our business, this is something you can discuss and see what we're going to do there. Thank you very much, Alexis. Appreciate it. That wraps us up for this year. Got some drinks. So you're welcome to it, but thank you very much for coming along and hope to see you all next year. All right. Thank you.