Thank you, Mr. Chair.
In our couple of sessions here, listening to witnesses, I've come to understand that there are two types of risk in dealing with the rare earth industry. One is the technological, particularly the processing aspects. The other, and one of the reasons that is driving interest, is the geostrategic, the political, because this market tends to be so dominated by one supplier. One of the difficulties with that supplier—and we saw this with how the markets reacted to some of their export data the other day—is that their numbers are sometimes questioned by people on the outside as being unreliable.
My first question would be to Dr. Moreno. How certain can we be about what China's doing and why they're doing it? China has its own problems with some of these minerals being sold through the black market. How reliable are their figures? How do we really understand what their strategy is? What's the possibility that, when the Canadian industry gets up and running, all of a sudden the China Geological Survey announces that they have a really cheap, low deposit, and are just going to flood the market and wipe us out?
Talk to me a little bit about some of the difficulties in understanding China, its position, and how it affects how everyone else, like Japan, Canada, etc., is making their decisions.