Would still be meetings at the convention with the leading Party Officials and, you know, the candidate would meet with people and so it was a democratic process in the sense that candidate would meet with people. It was a democratic process in the sense there was consultation, deliberation and so forth, though ultimately the candidates decision. I think as its moved away from the convention beginning 1976, its been a process focused much more on the president ial candidate and the people around the president ial candidate. They still consult with party leaders, talk to capitol hill, talk to governors, solicit input. But ultimately the circle of people in the room when the decision is made tends to be the president ial candidate and a few people close to them. Im going to get our questioners ready, a few more questions and then turn to the audience again. Weve referred to, in terms of the convention, that we might have a different kind of year especially on the republican side. Weve ma
I love the agency. Its done a lot of good work. About 35 years ago, their director at the time, vince mckelvy, sat down and pretty much pulled together on his own the idea of Mineral Resource classification. It really hadnt been put out there as succinctly as vince put it out as you see here posted behind me. He said, look, we have two classes of minerals, reserves and resources. The reserves i can identify, map them, drill them, core them, assay that and i can tell you, for example, their measured or inferred value. Versus resources that i havent discovered yet but theyre hypothetical or maybe even speculative. He made that distinction and further divided resources into measured and indicated. In the upper lefthand corner youll see the box reserve, and thats what reserves are. Theyre indicated theyre actually bankable in the oil industry. You can book reserves, take to the bank, its collateral. Same in the Mining Industry. So theres a difference between re reserves and resources. The
Lists of minerals and strategic and critical, they differ from time to time and because of economic conditions. They do infer a supply chain which marc is going to get into here a little while. They also, infer that there is foreign imports either partial or total. So that is of interest to us. And there could be severe economic repercussions if, for shortage of Critical Minerals and of Course National security concerns tells you that mineral is strategic. This is, as i said, one of the best probably sources on the topic and again, the definitions are a little squishy but they say that there are minerals that actually dictate the Economic Health of the nation or Strategic Minerals will always be critical, but Critical Minerals will not always be strategic, okay . Now, here the different metals and element involved in both classes and you can read that. The books get into it in detail. I dont want to belabor too much today. Notice Strategic Minerals include rare earths. Fissionable mate