Matt Gialich

We talk a lot about the rare earth elements, and you probably see this in the news all the time, like Trump's signing all these executive orders, and M&P Materials got this huge investment.

The rare earth metals are a fraction of the market cap of the platinum group metals.

And we have a lot of rare earth metal ore in the United States.

The processing of the rare earth metals is very difficult.

we don't have a lot of platinum group metals in the United States.

As we expand, platinum group metals, if we continuously use it at the way we use in the United States, we'll run out of it by 2035.

Now, the reality is the globalization on the world, that's not how it works.

And we come up with these deals and half of this is like us posturing to other countries.

And we've even seen this with rare earth, right?

I mean, if you follow the news, it's like every other day, China is giving us rare earths or they're not.

And I can't really keep track.

And we keep negotiating back and forth.

It's like, this is how economies work.

And this is actually a really beneficial way for economies to work.

The next wave of this will be in platinum group battles.

It's probably one of the most dangerous things that I foresee that we're coming up against because

It's one of the critical building blocks to what we do, and the United States doesn't have any.

There's a whole plethora of them in South Africa.

There's quite a bit in Russia.

China has a couple.