Thank you very much, Mr. Chair.
Thanks to all of you for your very compelling presentations.
Mr. Horel, with respect, I don't want a lengthy explanation of this, but I was a little bit taken aback or struck by your comment “not equal but equivalent”. To me, equal is equivalent, but apparently there's some wordsmithing being done. What does it say to Joe Public that it's equivalent but it's not equal within the context of a raw product coming in from elsewhere? Can you just briefly explain that subtle distinction?