Financial Data and Key Metrics Changes - The second fiscal quarter of 2026 marked a transformational period for the company, with significant progress in financing, customer engagement, and project readiness [3][4] - The pre-feasibility study confirmed a strong economic foundation for the Fort Cady project, indicating a nearly 40-year mine life based on proven and probable mineral reserves [9] Business Line Data and Key Metrics Changes - The company successfully completed a full-scale glass trial, which has advanced commercial discussions with future customers [4][11] - Engagement with additional customers has expanded, particularly in specialty applications such as Ferroboron, a critical component in permanent magnet manufacturing [11] Market Data and Key Metrics Changes - The global borates market remains tight, with Turkey controlling approximately 70% of global reserves and 65% of global production [5] - Demand for boron-based materials is increasing across various sectors, including energy transition technologies and advanced manufacturing [5] Company Strategy and Development Direction - The company is focused on progressing customer engagement towards structured offtake agreements and executing pre-FID and FEED work streams [11][12] - The strategic positioning of Fort Cady as a long-life, scalable U.S.-based asset aligns with national supply chain priorities and enhances its competitive advantage [5][10] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of security of supply and jurisdiction diversification in the current market, which plays to Fort Cady's strengths [5] - The company is positioned to become a major U.S. boron producer, creating long-term value for shareholders [12][15] Other Important Information - The company is engaged with various federal financing pathways, leveraging the critical minerals designation to access larger pools of capital [8][9] - An omnibus patent has been filed covering the in-situ leaching mining process, which is expected to enhance the company's competitive position [10] Q&A Session Summary - There were no questions from participants during the Q&A session, indicating a lack of immediate inquiries from investors or analysts [14]