So both of those represent additional upside for our business. And we continue to see and expect that the value-added market will continue to improve over the course of 2024 as well, certainly into our 2025 contracting season for both the Grundartangi billet casthouse but also the existing U.S. casthouse. And then finally, we continue to wait on 45X for the updated guidance. But if we do get the broader interpretation of eligible costs there, that would be additional upside to the guide that you see in Q2. So we’re really excited about the business. We think there’s a lot of opportunities. And we think the business will perform really well and help us produce great results and also as we look to execute on these expansion projects. I do see Lucas has one more question.
So happy to take that.
Operator: [Operator Instructions] So this question comes from Lucas Pipes of B. Riley.
Lucas Pipes: So I was a little late there in getting back in the queue. And just your comments just now were actually answering some of my follow-up questions. So I really appreciate all those remarks. One of the ones I wanted to touch on was just how you think about the balance sheet. In the release, you flagged it as a priority to reduce debt. Your shares have traded much better. How do you think about kind of your cost of equity, cost of debt, optimizing the balance sheet in this environment?
Jesse Gary: Thanks, Lucas. Just very simply there, that’s really not something that we’re considering at this time. We think there will be plenty of cash flow in order to allocate towards reducing net debt. And so that would be our plan on that, really prioritizing the cash flow we expect for this business, which, as I just went through, we think there’s huge opportunity for significant cash flows over the course of the next few quarters and not really any need to go to the equity markets at this time.
Lucas Pipes: Very, very helpful. And then just at the very end of your remarks, you commented on the additional opportunity around 45X. And that was — there was a lot of detail that you provided as to your earnings power in this environment. Very helpful, as I said. And just going back to 45X, if you were to get the full benefit today, what would be the additional contribution? It would be great to have an update on that.
Jesse Gary: Sure. And we went through this on the last call in some detail and the slide on that on Slide 26 in this investor deck. But you can see if direct and indirect raw materials are included, that would be about an additional $50 million to $55 million uptick in our 2023 credit and similar sort of uptick going forward for 2024.
Lucas Pipes: And again, this is kind of backwards looking as to that 2023 utilization rate. So with a full Mt. Holly restart and maybe [indiscernible] coming back, we could kind of scale that up proportionately.
Jesse Gary: Yes. Absolutely. And obviously, the greenfield is some distance away, but that would also be eligible for the credit.
Operator: There are no additional questions waiting. So Jesse, I’ll hand the call.
Jesse Gary: Thank you very much, everyone, for joining. We look forward to talking to you later this summer for our Q2 call.
Operator: Ladies and gentlemen, I’d like to thank you all for joining today’s call. Have a great rest of your day. You may now disconnect.
