Hello PYR,

and congrats for uplisting to TSX.

Two questions in reference to the recent LKAB / HYBRIT announcement.

a) Just read an article titled "Decarbonization of the Iron and Steel Industry with Direct Reduction of Iron Ore with Green Hydrogen" which states that 1) the pellets are pre-heated to 800 °C and 2) the hydrogen reductant to 500 °C before entering the shaft furnace. Also Outotec's Circored process seems to involve "Preheating of iron ore fines in a CFB at approximately 850-900°C".

Do you see market potential for PYR's heating technology in the various DRI processes (HYBRIT, Midrex, Circored, the ones developed in Germany)?

b) LKAB say "By using biofuel as a heat source for one of LKAB's pelletizing plants, fossil carbon emissions from the Malmberget operation can be reduced by as much as 40 percent." Do you see a iron ore pelletizer do better than 40% with PYR technology?

Cheers and keep up the good work, team PYR!