In the case of the BlackRock project, the vanadium and titanium and the iron fraction will be refined in Saguenay. An important element of our project is that it's an integrated project and we will be able to send these to market.
We are fully permitted for an additional ferrovanadium plant to be located in Saguenay, which would supply both the steel industry and the battery industry. That is phase two of our overall construction plan. We would look to have that put in place a couple of years after the start of production. Initially, we will process some of these materials at existing facilities that are partnered with us out of Europe.