REX American Resources Corporation (NYSE:REX) Q3 2023 Earnings Call Transcript

Stuart Rose: And keep in mind, as Zafar has said, we’re only going 4 miles, and it’s a lot of that 4 miles is over land farmland where these are — we’re helping the people that we’re dealing with for these 4 miles are selling their corn to us. So — and some of them are shareholders, I believe. So they have a big incentive to make this happen because in both cases, they’re better off having us do well and they’ll do well. And it’s been a great partnership for many, many years, as Doug said since at least 2009. So we have done — we have been — they’ve done good for us, I believe. I know we’ve done good for them. And these are — and it’s not — you’re thinking — when you think these other pipelines in Iowa, they’re going hundreds of miles. We’re going 4 miles. So it’s not — we don’t think it’s going to be any issue if it is, Illinois law back us up, but we don’t believe it will be an issue at this time.

Zafar Rizvi: Yes, exactly. And I think Stuart is exactly right. As you mentioned, the people are going out there for test. As you know that, that can happen. We cannot stop them. That’s their opinion, and they certainly same people go almost every state in Illinois, in Iowa, South Dakota and that’s the — that’s what the values they think they have and the — but as far as we’re concerned, we continue to concentrate what we have to provide and what we have to do.

David Locke: Okay. thanks a bunch for the clarification and nuance on that. That’s all I’ve got. And thanks for another excellent quarter, and congratulations on kicking everybody’s butt.

Stuart Rose: Thanks for the questions.

Operator: Mr. Rose, there are no further questions at this time. I will now turn the call back to you.

Stuart Rose: We’d like to thank everyone for listening, and we look forward to talking to you at the end of the next quarter. Thank you. Bye.

Operator: That does conclude the conference call for today. We thank you for your participation and ask that you please disconnect your line. Have a great day, everyone.