Operator: Our next question comes from Grace Sims of Energy Intelligence Please go ahead.
Q €“ Unidentified Analyst: Hi. This is Grace of Energy Intelligence. Nice to talk to you guys. So my question is just about in China. And if Chemical would consider opening account there as they’re trying to make it into a trading hub or if they would move uranium, if can go move uranium to China via…
Tim Gitzel: Yes. Thanks, Grace. We appreciate your question. Obviously, we’re watching what’s going on at and whether that gets set up, and we are hearing it’s moving. We have no intention at the moment of setting up an account there. We have our own facilities and accounts to look after. So we’re watching it with great interest. But for now, we have our intention of opening an account at
Q €“ Unidentified Analyst: Okay. Thank you. And then a follow-up question, sorry, is just does Cameco plan to continue exporting material from Kazakhstan to a trans casein trade route? And to what extent would that impact cost, if that’s the case?
Tim Gitzel: Yes. We sure do. We were happy to get that first shipment through as we reported, and we’re working on another one. And Sean, I know you’ve been – you were talking about it yesterday. So why don’t you just give the latest update on the being route.
Sean Quinn: Our second shipment relating to our 2022 purchases is through to the port of Courtney already and might even be loaded on the boat to make the trip across. And we are working towards making applications for our ’23 shipments at this time through the trans casein.
Q €“ Unidentified Analyst: All right. Thank you.
Tim Gitzel: Thanks, Grace.
Operator: Our next question comes from John Tumazos of John Tumazos Very Independent Research. Please go ahead.
John Tumazos: Thank you and congratulations on all the progress. Concerning the Kazakh contract, which is so significant since it’s the seventh largest nuclear power generator in the world. With the e Zaporizhzhya tranche, clawback your spot sales first, if that falls back into sovereign control? And then second have you planned for the contingency if the Ukrainian government can’t pay you. They seem to have some funding deficits. Do you have any assurances from Ottawa that if Ukraine don’t pay the Ottawa would pick up the tab or the EU would pick up the tab given that the country appears very bankrupt.
Tim Gitzel: Thanks for the question, John. You’re referring to the Ukraine contract. We – as you saw in our disclosure, we separated the two sets of units, the nine units that Ukraine is integral Energoatom is operating now and operating quite well. Listen, this isn’t our first contract with Ukraine. We’ve been dealing with them for some years now, and they’re one of our best customers and have paid every time. There’s not an issue there. On the Zaporizhzhya units, yes, we’re concerned about those. So is the IAEA, and they’re over there with inspectors and others trying to get those under control and back under Ukraine control. And so that’s why we separated the two tranches. We’re very confident that Ukraine will indeed return to Zaporizhzhya and take control of those units, but we’ll wait to see.
