Unidentified Analyst: And that is a late 2024 event?
Mark Duff: Correct.
Unidentified Analyst: Okay. And so if you all were to treat the secondary waste that are generated by vitrification of the, say, Hanford tanks low-activity waste. I may have completely misunderstood your comments. But were you implying based on the revenue numbers you had mentioned earlier, that you would realistically expect to get paid around $7,800 a cubic meter? Did I €“ am I getting that math right? Or did I misunderstand?
Mark Duff: Yes. I don’t have a calculator in front of me here, Anthony. But generally, for 8,300 yards, 8,300 cubic meters, we’re estimating roughly $70 million annually in revenue.
Unidentified Analyst: Okay. And regarding the ITDC, so are you saying, Mark, that the scope of it as it relates to Perma-Fix only includes services, not treatment?
Mark Duff: I really can’t talk about the procurement at all because it’s such a sensitive situation at this point in time. But the scope €“ the RFP is public information. It includes managing the facilities and waste management, which would include disposition of the tank waste to close tanks. So, it would be a component of scope within that overall contract. That’s about all I can say about the procurement.
Unidentified Analyst: So, if I am hearing you right then, it’s €“ we are talking about a $45 billion contract over 10 years. And it is a possibility that Perma-Fix could generate services business from that contract as well as treatment business from that contract, possible, is that a fair statement?
Mark Duff: Yes. It’s possible.
Unidentified Analyst: It’s possible for both services and treatment?
Mark Duff: Correct.
Unidentified Analyst: Okay. And then last question. Can you please give us an update mark on the status of your €“ of renewing your Northwest facilities dangerous waste regulation permit?
Mark Duff: Yes. That permit has been in the renewal process for 12 years. So and we continue to work with the state and provide updates to the permit. It’s right now €“ boy, Anthony, I think we are still another year off before we are going to see anything finalized. But it doesn’t keep us from operating what we are doing. What it does keep us from doing until we get to the final one renewed is new technologies like the GeoMelt system that we have got in place. We were able to run that through the treatability study for a year or so. But until we get the formal renewal, we can’t do something new like that. So, it is impacting us, from that sense. But the state is going through the process as they have had the last 12 years, and we are hoping to have it completed in about a year, if I remember correctly.
Unidentified Analyst: And does it preclude you from treating the waste that we have been discussing through any of these other initiatives?
Mark Duff: No, which is demonstrated by the TBI stuff that we have already done and we do grouting all the time now, similar processes. And so we would not expect that, that permit renewal issue or delay have any impact on everything we are talking about here.
Unidentified Analyst: Okay. Thank you. Appreciate it.
Mark Duff: Alright. Thank you.
Operator: Thank you. Your next question is coming from Ross Taylor from ARS Investment Partners. Your line is live.
Ross Taylor: Thank you. We will shift off of Hanford for a bit. And I would like to talk to you about a couple of things. One, what you are looking at with things such as uranium mines and how long do you think that ends up working out? What kind of opportunities that have generally what other kinds of opportunities are you seeing of that sort around the country that are starting to be freed up? And then I would like to ask you to talk about what you see happening with regard to the Navy. The Navy has a lot of ships, more nuclear capable ships looks like they are going to be coming offline again this year. They are building up what looks like a fairly interesting fleet of mothballed nuclear vessels that they need to deactivate. And where do we stand with the ability to kind of push those major contracts forward?
