Thank you for standing by. This is the conference operator. Welcome to the Westwater Resources Incorporated Third Quarter 2017 Financial Results and Business Update Conference Call. As a reminder, all participants are in listen-only-mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. [Operator Instructions] I would now like to turn the conference over to Christopher M. Jones, President and CEO. Please go ahead.

Thanks, Arryal. Welcome everyone to Westwater Resources’ third quarter 2017 financial results and business update conference call. I am Chris Jones, Chief Executive Officer for Westwater. You’ll find our company listed as WWR on the NASDAQ. This call is being webcast on our website at www.westwaterresources.net where we posted slides to accompany our remarks. Telephonic replay of the call will be available from our website for three weeks following today’s call. We will be discussing some forward-looking information today and we caution our audience that such statements involve risks and uncertainties that could cause actual results to differ materially from projections. Please review our cautionary statement and notes about foreign reserves and resources on slides two through three. In addition, there are risk factors including some that are specific to our industry, described in our latest annual and quarterly financial reports filed with the U.S. SEC. We have a brief presentation before the question-and-answer portion of today’s call. I am joined in our Colorado headquarters by Jeff Vigil, Chief Financial Officer and Vice President of Finance; and Dain McCoig, Vice President of Operations joined us by phone from our office in Texas. Let’s turn to slide four. We continued the transformation of our business into a wider spectrum energy resources company. Renaming our business to Westwater Resources reflects that broader focus, an accomplishment we successfully executed on August 21st. At the same time, we strengthened our Board with addition of Terence Cryan as Chairman. Mr. Cryan has served on our Board in prior times and we are happy to have him back. Our lithium business continued its development path with the completion of our Phase 1 drilling project on Columbus Basin. We discovered saline waters at depth and are evaluating steps for further exploration there at this time. It is…

Thanks, Chris. Good day, everyone. First, let’s take a look at the capital structure on slide five. At the recent share price of $0.90 and with approximately 27.6 million shares outstanding, our market capitalization stands at $24.8 million. During calendar quarter -- third quarter, our stock performance remained steady. However, on October 2nd, an analyst report on chemicals outlook and a negative outlook on uranium market impacted all uranium equities from a price of $1.44 on September 29, WWR’s price has dropped to its current price of $0.90.The average daily trading liquidity however remains strong with the trailing three months average volume of approximately 330,000 shares per day. Now, turning to the financial summary on slide six for Q3 results, we want to highlight the improved financial strength of WWR. Our cash position at October 31, 2017 was approximately $6.1 million; and most importantly, we have no long-term debt. Our working capital of $8.2 million at September 30, 2017 along with the financing facilities we’ve put in place, are expected to fund our business activities through 2018. As noted in the last quarter’s conference call, we retired the original $8 million convertible loan with Resource Capital Funds or RCF with a final cash payment of $5.5 million during the first quarter of 2017. In July 2017, we terminated a shareholders’ agreement with RCF which had provided RCF with equity participation rights and board representation rights. Once again, we note that the retirement of this loan saves us $800,000 per year in interest payments to RCF. Most importantly, that $800,000 is half of our budgeted lithium exploration and drilling budget for 2018, and will now be going into the ground. Net cash used in operations for the nine months ended September 30, 2017 was approximately $8.9 million compared to $9.8 million used during the same period of 2016. The $900,000 year over year reduction primarily due to a decrease in general and administrative costs and interest expense and an increase in interest income. During the third quarter, we continued to pare down our G&A expenses. As a result of this work, our G&A expense for Q3 2017 was 10% lower than the equivalent quarter in 2016. Expenditures for mineral property expenses were higher by 27% or approximately $300,000; that was due to cost incurred in the Phase 1 exploration drilling at the Columbus Basin Project. Finally, our net loss for the quarter was approximately $3 million versus a loss of approximately $3.7 million in the third quarter of 2016. The $700,000 decrease was primarily due to the decrease in interest expense. And with that, I’ll turn it back to you, Chris.

Thanks, Jeff. Let’s look at the uranium supply and demand fundamentals on slide seven. When we speak of lithium demand growth, we are speaking about lithium-ion batteries and the outsized influence of transportation batteries. Bloomberg has recently reported that Tesla’s new production alone can double the world’s output of lithium-ion batteries. CRU estimates that the global lithium demand will rise at an average of over 6% per year through 2025. This growth is driven by rapidly increasing demand, again, for transportation batteries. Turning to slide eight, we speak to the supply demand relationship for lithium a little further. Lithium market commentators cite the spreads and supplies which are dominated by five major companies worldwide, controlling 90% of current production are inadequate to serve the demand growth. There’s also the China factor. Media reports cite that China exceeded the United States in electric vehicle sales in 2016. China has committed to a target of 3 million electric cars on the road by 2025 with green car subsidies for the transportation sector. China’s entire line of lithium battery production reportedly tripled in terms of gigawatt hours in 2015 over 2014. The UK has announced they will ban the sale of hydrocarbon-based vehicles in a few years and every major auto manufacturer is developing electrically powered vehicles. To reiterate, there is not enough lithium in the marketplace to serve these needs, and that bodes well for high prices. Our strategy is to capitalize on our existing base of expertise in developing low-cost lithium brine deposits. The mining and processing costs of lithium from brines are in the lowest cash cost quartile. On slide nine, we show where our projects are on the value creation curve. Note that this curve is designed to be indicative of relative share prices and is adapted from one…

Thanks, Arryal. Ladies and gentlemen, Westwater’s management team thanks you for allowing us to provide this update on our business. Have a great day.

This concludes today’s conference call. You may disconnect your lines. Thank you for participating and have a pleasant day.