WEBVTT 00:00:00.170 --> 00:00:03.069 Welcome to Drumbeats, the must -listen -to podcast 00:00:03.069 --> 00:00:05.750 which explains why Indigenous partnerships are 00:00:05.750 --> 00:00:08.689 the key to securing successful outcomes in natural 00:00:08.689 --> 00:00:11.089 resource and infrastructure investment in Canada. 00:00:13.210 --> 00:00:15.630 I'm Mark McNack and my co -host Robert Brandt 00:00:15.630 --> 00:00:17.629 and I are recording this just days before we 00:00:17.629 --> 00:00:20.870 return to the Square Mile for the third annual 00:00:20.870 --> 00:00:23.969 Canadian Indigenous Investment Summit on the 00:00:23.969 --> 00:00:26.350 8th of April. We're very fortunate to be back 00:00:26.350 --> 00:00:29.309 at the London Stock Exchange. And of course... 00:00:29.640 --> 00:00:32.240 We're living in tumultuous times. The world has 00:00:32.240 --> 00:00:34.899 never been so unsettled. There's another war 00:00:34.899 --> 00:00:38.119 in the Middle East. The Strait of Hormuz is closed. 00:00:38.500 --> 00:00:41.880 Oil prices are going through the roof. People 00:00:41.880 --> 00:00:44.880 are concerned about what the future holds across 00:00:44.880 --> 00:00:49.979 the world. Here in the UK and Europe, gas prices 00:00:49.979 --> 00:00:52.920 are up. This will be affecting the food supply. 00:00:53.200 --> 00:00:57.179 And this even affects Canada and the US. Three 00:00:57.179 --> 00:01:00.240 oceans are not enough to protect Canada from 00:01:00.240 --> 00:01:05.500 the turmoil in the world. So here we are, walking 00:01:05.500 --> 00:01:07.900 into the city for the discussion of the Indigenous 00:01:07.900 --> 00:01:10.780 people of Canada and the opportunities they bring. 00:01:11.280 --> 00:01:14.959 Canada is a stable country in a very unstable 00:01:14.959 --> 00:01:19.599 world. Canada needs to be on your radar. If you 00:01:19.599 --> 00:01:23.400 have any desire to invest in energy, infrastructure, 00:01:24.439 --> 00:01:28.640 mining or defense -related issues. Canada has 00:01:28.640 --> 00:01:31.299 regained its standing in the world under Prime 00:01:31.299 --> 00:01:35.219 Minister Carney. But the key to success in Canada 00:01:35.219 --> 00:01:38.799 today is working with the Indigenous peoples. 00:01:39.359 --> 00:01:41.560 And what you will have an opportunity to learn 00:01:41.560 --> 00:01:44.400 about at the summit is who are the movers and 00:01:44.400 --> 00:01:47.379 shakers amongst the Indigenous people. What are 00:01:47.379 --> 00:01:50.159 the companies that are succeeding? Who are the 00:01:50.159 --> 00:01:52.760 partners to consider working with? What are the 00:01:52.760 --> 00:01:56.040 lessons learned in the past about how to make 00:01:56.040 --> 00:01:59.780 things happen quickly? So come join Rob and I 00:01:59.780 --> 00:02:04.299 and over 170 other senior leaders to discuss 00:02:04.299 --> 00:02:07.920 how to succeed in Canada, what are the opportunities, 00:02:08.240 --> 00:02:11.280 and how to turn those opportunities into fruition 00:02:11.280 --> 00:02:16.419 much quicker than ever before. Morning, Rob. 00:02:16.539 --> 00:02:21.030 How are you today? There you go, Mark. Really 00:02:21.030 --> 00:02:25.389 good, thanks. I'm making my way east from Vancouver, 00:02:25.590 --> 00:02:29.050 looking forward to the summit. Yes, it's just 00:02:29.050 --> 00:02:32.509 under a week away. Really exciting coming up. 00:02:32.610 --> 00:02:36.110 So you're now based out in Vancouver, so you're 00:02:36.110 --> 00:02:38.569 making your way east. Have you crossed the pond 00:02:38.569 --> 00:02:41.629 yet, or you're still in? Not yet. I've stopped 00:02:41.629 --> 00:02:45.830 almost halfway. I'm in Toronto today. And I'll 00:02:45.830 --> 00:02:49.050 spend the week here and then get to London on 00:02:49.050 --> 00:02:51.990 the weekend. Great. And how's Toronto these days? 00:02:54.689 --> 00:02:59.030 Toronto's good. Don't mention the Leafs. I didn't. 00:02:59.069 --> 00:03:03.550 Otherwise, things are great. Well, let's go Edmonton 00:03:03.550 --> 00:03:07.939 or Montreal. Somebody. Right. Anyway, North America, 00:03:08.000 --> 00:03:10.840 as our southern neighbor likes to refer to, is 00:03:10.840 --> 00:03:12.900 separated by these two great oceans and isn't 00:03:12.900 --> 00:03:16.240 affected by what's going on in the world, which 00:03:16.240 --> 00:03:18.539 is wrong. So why don't we first start a little 00:03:18.539 --> 00:03:21.460 bit about before we get into what's going on 00:03:21.460 --> 00:03:23.860 with the summit? Why don't we just talk about 00:03:23.860 --> 00:03:26.360 the world we're in at the moment? Because it's 00:03:26.360 --> 00:03:31.379 a huge mess and it's getting worse every day. 00:03:32.000 --> 00:03:35.340 Yeah. Headlines changing. By the hour in oil, 00:03:35.560 --> 00:03:41.219 what is it this morning, $112 a barrel up from 00:03:41.219 --> 00:03:47.219 just $65 just a couple of weeks ago. And I'm 00:03:47.219 --> 00:03:51.919 not sure how constrained exports are through 00:03:51.919 --> 00:03:56.180 the Strait of Hormuz, but it's a very delicate 00:03:56.180 --> 00:03:59.099 situation having impacts here and, of course, 00:03:59.159 --> 00:04:01.699 on the ground in the Middle East. I can't imagine 00:04:01.699 --> 00:04:04.360 what. Some of these people are having to live 00:04:04.360 --> 00:04:07.539 with. Terrible. I think actually, unless you 00:04:07.539 --> 00:04:11.240 have an Iranian pass through the Straits at the 00:04:11.240 --> 00:04:14.280 moment, it's effectively closed. And just this 00:04:14.280 --> 00:04:16.560 morning, we're recording this a couple of days 00:04:16.560 --> 00:04:18.720 before it's going out. There was a Kuwait oil 00:04:18.720 --> 00:04:24.420 tanker off of the UAE that was struck. And it 00:04:24.420 --> 00:04:27.980 is, you know, it's a terrible situation. And 00:04:27.980 --> 00:04:31.360 as you said. Forget about the price of oil, which 00:04:31.360 --> 00:04:33.259 of course impacts everybody through the food 00:04:33.259 --> 00:04:37.180 chain. It's the lives. And the whole region is 00:04:37.180 --> 00:04:41.139 once again destabilized. And nobody knows what 00:04:41.139 --> 00:04:44.199 tomorrow will bring. And that has its own cost. 00:04:44.379 --> 00:04:46.800 So I guess this is the largest supply disruption 00:04:46.800 --> 00:04:51.120 the IEA has ever recorded. European natural gas 00:04:51.120 --> 00:04:54.560 prices have surged more than 70 % in March. And 00:04:54.560 --> 00:04:57.519 the benchmark Used over here, the TTF is trading 00:04:57.519 --> 00:05:02.019 around 54 euros per megawatt hour, with some 00:05:02.019 --> 00:05:05.279 forecasters saying it's going to reach 100. So 00:05:05.279 --> 00:05:07.680 this affects everybody, even Canada and the U 00:05:07.680 --> 00:05:10.060 .S. The U .S. is one of the largest exporters 00:05:10.060 --> 00:05:14.560 of oil in the world, as is Canada, and everything's 00:05:14.560 --> 00:05:17.800 set to the world price. Yeah, and our relations 00:05:17.800 --> 00:05:21.740 seem as strained as ever with the U .S. It's 00:05:21.740 --> 00:05:26.360 a very, very tricky time for Canada. Tariffs 00:05:26.360 --> 00:05:29.699 have impacted Canada. We're fortunate that we 00:05:29.699 --> 00:05:33.980 do have a free trade agreement that still is 00:05:33.980 --> 00:05:38.220 valid and allows most of our exports to the U 00:05:38.220 --> 00:05:42.060 .S. to go there tariff -free, but there's still 00:05:42.060 --> 00:05:43.980 been an impact. And, of course, we've got the 00:05:43.980 --> 00:05:49.899 renegotiation of the U .S. MCA. the north american 00:05:49.899 --> 00:05:52.819 free trade agreement uh coming up with a deadline 00:05:52.819 --> 00:05:55.319 in just a couple of months july 1st i think is 00:05:55.319 --> 00:06:00.779 the the deadline for renewal and uh it's not 00:06:00.779 --> 00:06:07.040 clear how or whether negotiations are are progressing 00:06:07.040 --> 00:06:10.779 yes and if it's renewed then there'll be a renegotiation 00:06:10.779 --> 00:06:12.779 no matter what i understand they've already started 00:06:12.779 --> 00:06:15.060 working with the mexicans but i think they're 00:06:15.060 --> 00:06:17.970 trying to split the opposition and put pressure 00:06:17.970 --> 00:06:21.769 on Canada. And that is working. But of course, 00:06:21.769 --> 00:06:23.870 what continues to be needed around the world 00:06:23.870 --> 00:06:27.589 is real assets, infrastructure, contracted long 00:06:27.589 --> 00:06:30.110 duration cash flows in stable jurisdictions, 00:06:30.490 --> 00:06:33.230 right? Majority of global institutional investors 00:06:33.230 --> 00:06:35.529 recently surveyed by McKinsey plan to increase 00:06:35.529 --> 00:06:37.990 infrastructure allocations over the next three 00:06:37.990 --> 00:06:39.910 years. And that doesn't even talk about the disaster, 00:06:40.050 --> 00:06:42.689 about how do you repair everything that's been 00:06:42.689 --> 00:06:46.000 destroyed. But even with the tariffs being struck 00:06:46.000 --> 00:06:48.779 down by the Supreme Court in February, as you 00:06:48.779 --> 00:06:51.439 mentioned, 50 % tariffs on Canadian steel and 00:06:51.439 --> 00:06:56.279 aluminum remain, right? And the Bank of Canada's 00:06:56.279 --> 00:06:58.899 own governor, we've heard from the Canadian prime 00:06:58.899 --> 00:07:01.519 minister many times, but the Bank of Canada governor 00:07:01.519 --> 00:07:03.720 has come out and even said the era of rules -based 00:07:03.720 --> 00:07:06.720 open trade with the United States is over. And 00:07:06.720 --> 00:07:09.720 you mentioned Canada is beginning to feel that 00:07:09.720 --> 00:07:14.329 pain. It's affecting... people it has been since 00:07:14.329 --> 00:07:19.329 they were imposed. And unfortunately, that pain's 00:07:19.329 --> 00:07:22.509 going to continue for a while longer because 00:07:22.509 --> 00:07:26.209 you just don't turn on new markets overnight, 00:07:26.470 --> 00:07:30.170 right? The dollar's down around 72 or 73 cents 00:07:30.170 --> 00:07:35.550 American. GDP has been cut to 1 .1%. Unemployment's 00:07:35.550 --> 00:07:42.240 edged up 6 .7. Not a... Good situation. No, not 00:07:42.240 --> 00:07:45.920 a pretty picture at all. So what's the good news 00:07:45.920 --> 00:07:48.720 in all of this? Well, I guess the good news is 00:07:48.720 --> 00:07:51.680 that half of Canadian small businesses still 00:07:51.680 --> 00:07:55.220 think of the US as a reliable partner. The bad 00:07:55.220 --> 00:07:58.980 news is the other half don't. But what is the 00:07:58.980 --> 00:08:02.279 good news is that Canada is actively repositioning. 00:08:02.899 --> 00:08:04.819 Prime Minister Carney has been out there. He's 00:08:04.819 --> 00:08:10.040 made 26 foreign trips in his first year. Wow, 00:08:10.180 --> 00:08:13.180 that's a trip every other week. Explicitly targeting 00:08:13.180 --> 00:08:15.879 European and Commonwealth capital as well as 00:08:15.879 --> 00:08:19.300 in Asia. Canada's been fortunate. We've joined 00:08:19.300 --> 00:08:22.360 the EU Safe Defence Program, the first non -European 00:08:22.360 --> 00:08:25.300 country to do so. Even the UK isn't part of SAFE 00:08:25.300 --> 00:08:30.699 yet. So that's really positive. And certainly 00:08:30.699 --> 00:08:33.000 with all the conversations going on, European 00:08:33.000 --> 00:08:36.120 institutional investors have Canada on their 00:08:36.120 --> 00:08:38.740 radar. They're looking, how do we diversify? 00:08:39.580 --> 00:08:44.100 away from US exposure. So they now have an additional 00:08:44.100 --> 00:08:47.179 powerful reason to look at Canada. Yeah, I think 00:08:47.179 --> 00:08:50.379 it's a similar story. The US is a big, powerful 00:08:50.379 --> 00:08:53.740 economy. It's going to remain so for a long time. 00:08:53.840 --> 00:08:57.519 It will always be an important and probably the 00:08:57.519 --> 00:09:00.919 most important trading partner for Canada and 00:09:00.919 --> 00:09:04.139 for other parts of the world. But there's a new 00:09:04.139 --> 00:09:07.500 appreciation of diversification and the need 00:09:07.500 --> 00:09:13.009 to... to have other trading partners. And so, 00:09:13.049 --> 00:09:15.610 as you said, Canada has been out there. Prime 00:09:15.610 --> 00:09:18.289 Minister, business people, his first foreign 00:09:18.289 --> 00:09:20.570 trip as Prime Minister, I think he was only in 00:09:20.570 --> 00:09:22.830 the job a few days and he was off to Europe. 00:09:23.730 --> 00:09:26.730 And he has really led the charge. It's become 00:09:26.730 --> 00:09:30.289 a priority to double within a few years the trade 00:09:30.289 --> 00:09:36.379 Canada does outside of North America. Yes. By 00:09:36.379 --> 00:09:39.799 eliminating barriers within Canada too, that 00:09:39.799 --> 00:09:44.059 will not be another significant gain for GDP 00:09:44.059 --> 00:09:47.200 and growth in Canada. Canada remains AAA rated, 00:09:47.399 --> 00:09:51.879 lowest net debt to GDP in the G7, rule of law, 00:09:52.000 --> 00:09:56.820 and a common law framework. So it is the most 00:09:56.820 --> 00:09:59.720 natural term to many people in the English -speaking 00:09:59.720 --> 00:10:03.700 world. And although the U .S. will continue to 00:10:03.700 --> 00:10:07.039 be Everybody's thinking twice with the current 00:10:07.039 --> 00:10:10.200 administration. The current administration is 00:10:10.200 --> 00:10:13.360 time bound. And of course, we are not going back 00:10:13.360 --> 00:10:16.039 to what it was before. But if there's a degree 00:10:16.039 --> 00:10:21.899 of stability and recognition of interest, hopefully 00:10:21.899 --> 00:10:26.200 the future has opportunities to benefit from 00:10:26.200 --> 00:10:29.440 a more stable relationship. Even if the relationships 00:10:29.440 --> 00:10:32.659 changed, at least it won't change every day. 00:10:33.129 --> 00:10:35.169 Right. So that's the backdrop of where we're 00:10:35.169 --> 00:10:37.629 coming into. Yep. But I think also there's a 00:10:37.629 --> 00:10:39.970 new appreciation of the vulnerability of supply 00:10:39.970 --> 00:10:44.970 chains and the need to have reliable partners. 00:10:45.110 --> 00:10:49.490 And that's something you hear Canada talk about, 00:10:49.549 --> 00:10:53.049 the need to have reliable trading partners. And 00:10:53.049 --> 00:10:58.870 if it's one thing Canadians are known for, it's 00:10:58.870 --> 00:11:03.980 reliability and honesty. and fair dealing and 00:11:03.980 --> 00:11:07.139 put that together with all of the resources natural 00:11:07.139 --> 00:11:11.480 resources that we have in this country and the 00:11:11.480 --> 00:11:14.340 educated workforce and the creative creativity 00:11:14.340 --> 00:11:20.639 the business people and the emerging indigenous 00:11:20.639 --> 00:11:23.879 economy and population that's playing a more 00:11:23.879 --> 00:11:27.480 and more important role in all of it uh it adds 00:11:27.480 --> 00:11:30.700 up to yeah i think that's what that's where the 00:11:30.700 --> 00:11:33.570 opportunities are Absolutely. And one thing you 00:11:33.570 --> 00:11:36.590 don't hear anymore is anybody saying, oh, what's 00:11:36.590 --> 00:11:38.289 the difference between Canadians and Americans 00:11:38.289 --> 00:11:41.149 or between Canada and the US? You know, that 00:11:41.149 --> 00:11:44.389 is clear. And with, as you've mentioned, with 00:11:44.389 --> 00:11:48.230 the role of the Indigenous people changed and 00:11:48.230 --> 00:11:50.950 now they're playing their foundation role in 00:11:50.950 --> 00:11:56.490 the country, that's a huge added benefit for 00:11:56.490 --> 00:11:58.929 Canada. And actually the relationship with the 00:11:58.929 --> 00:12:02.000 Indigenous people now that... It's recognized 00:12:02.000 --> 00:12:07.879 in the Constitution and UNDRIP. That rule of 00:12:07.879 --> 00:12:11.080 law has been demonstrated time and time again. 00:12:11.740 --> 00:12:14.980 So let's talk about the summit that's taking 00:12:14.980 --> 00:12:17.500 place on the 8th of April at the London Stock 00:12:17.500 --> 00:12:19.759 Exchange in the heart of Square Mall in the shadow 00:12:19.759 --> 00:12:23.159 of St. Paul's. And that choice of venue is not 00:12:23.159 --> 00:12:27.259 ceremonial. You know, we have chosen it. And 00:12:27.259 --> 00:12:30.139 you and I and Siwan talk a lot about it. you 00:12:30.139 --> 00:12:31.480 know, where are we going to have the summit? 00:12:31.559 --> 00:12:34.419 And we're back for the second year in a row at 00:12:34.419 --> 00:12:36.179 the London Stock Exchange. We've always been 00:12:36.179 --> 00:12:39.240 in the city since we started, but it talks about 00:12:39.240 --> 00:12:41.139 the type of conversations that we're setting 00:12:41.139 --> 00:12:44.279 out to have at the summit. Yeah, absolutely. 00:12:44.320 --> 00:12:47.240 Really excited, Mark. This is our third annual 00:12:47.240 --> 00:12:50.830 summit. Couldn't come at a more important time 00:12:50.830 --> 00:12:54.570 for the reasons that we've discussed. And we'll 00:12:54.570 --> 00:12:57.830 be back right at Centre Ice in the heart of the 00:12:57.830 --> 00:13:00.210 city, the heart of the financial district, one 00:13:00.210 --> 00:13:02.230 of the great financial centres of the world. 00:13:03.350 --> 00:13:08.690 And investors and potential corporate partners 00:13:08.690 --> 00:13:11.830 in the UK and Europe, they are looking at Canada 00:13:11.830 --> 00:13:17.450 again differently. And so it's now up to us to 00:13:17.450 --> 00:13:20.570 explain what has changed about Canada because 00:13:20.570 --> 00:13:24.370 there are perceptions, some negative perceptions, 00:13:24.450 --> 00:13:27.230 although we're talking about reliability and 00:13:27.230 --> 00:13:30.129 honesty. I think there's also a perception that 00:13:30.129 --> 00:13:33.470 it's difficult to do business in Canada. It's 00:13:33.470 --> 00:13:36.590 difficult to get big projects done. And there's 00:13:36.590 --> 00:13:40.029 still a bit of skepticism, despite the encouraging 00:13:40.029 --> 00:13:43.649 words from government, about whether we can really. 00:13:44.120 --> 00:13:49.120 get big projects done. And there's also I think 00:13:49.120 --> 00:13:51.000 still a perception in Europe that Indigenous 00:13:51.000 --> 00:13:56.019 people are against all development. And so we've 00:13:56.019 --> 00:13:58.399 got to answer both of those questions. What's 00:13:58.399 --> 00:14:00.480 changed about Canada? Has it really changed? 00:14:01.240 --> 00:14:05.700 And are Indigenous people supportive of that 00:14:05.700 --> 00:14:11.250 change? And are they part of that story? And 00:14:11.250 --> 00:14:14.190 so those are the messages we're going to bring 00:14:14.190 --> 00:14:18.950 loud and clear. We've got a fantastic gathering 00:14:18.950 --> 00:14:23.809 of Indigenous, non -Indigenous leaders and some 00:14:23.809 --> 00:14:26.409 great names, some big companies, some big investors, 00:14:26.509 --> 00:14:29.509 and we're going to have some great conversations. 00:14:30.480 --> 00:14:33.580 Yes, so the day runs on the 8th of April from 00:14:33.580 --> 00:14:36.320 8 a .m. to 6 p .m. We're having a small drinks 00:14:36.320 --> 00:14:39.059 reception as is traditional to follow. And we've 00:14:39.059 --> 00:14:41.320 got four investment themes running across two 00:14:41.320 --> 00:14:45.159 different rooms, auditoriums almost, at the London 00:14:45.159 --> 00:14:49.220 Stock Exchange. Mining, energy, infrastructure, 00:14:49.340 --> 00:14:53.899 and the circumpolar frontier, which is Canada's 00:14:53.899 --> 00:14:57.639 north and the Arctic. The sessions this year 00:14:57.639 --> 00:15:00.220 are moderated by practitioners and journalists. 00:15:00.399 --> 00:15:03.440 They're not facilitators. And the panel discussions, 00:15:03.700 --> 00:15:05.820 as you mentioned, they are meant to be substantive 00:15:05.820 --> 00:15:09.139 and the questioning will be rigorous. It's not 00:15:09.139 --> 00:15:11.039 a conference where anybody reads from slides. 00:15:11.220 --> 00:15:13.379 In fact, there are no slides. Sometimes we'll 00:15:13.379 --> 00:15:16.259 show a map so everybody knows where some of these 00:15:16.259 --> 00:15:19.500 locations are. And the agenda is public. It's 00:15:19.500 --> 00:15:23.320 been up on the website for the past number of 00:15:23.320 --> 00:15:26.330 weeks. And we've got some episode notes set up 00:15:26.330 --> 00:15:29.509 on there. And registration is by invitation. 00:15:30.009 --> 00:15:32.730 Everybody is qualified to make sure that they 00:15:32.730 --> 00:15:37.730 fit in the room to have those serious C -level 00:15:37.730 --> 00:15:42.610 conversation. So why don't we talk about who 00:15:42.610 --> 00:15:45.309 we have in the room? We've got senior leaders. 00:15:45.490 --> 00:15:47.529 And I think this is something that's very unique. 00:15:47.669 --> 00:15:50.549 And you've reinforced, Rob. over the years. And 00:15:50.549 --> 00:15:53.330 we are very fortunate because we have the decision 00:15:53.330 --> 00:15:56.590 makers in the room, certainly coming from Canada. 00:15:56.690 --> 00:15:59.509 And then we have global energy majors, critical 00:15:59.509 --> 00:16:02.509 minerals companies, infrastructure, engineering 00:16:02.509 --> 00:16:05.529 firms, capital market institutions, institutional 00:16:05.529 --> 00:16:08.450 investors who are managing significant infrastructure 00:16:08.450 --> 00:16:11.370 allocations. They're not policy observers. This 00:16:11.370 --> 00:16:14.289 is not a theoretical discussion. These are people 00:16:14.289 --> 00:16:17.720 with mandates. who look at deal flow all the 00:16:17.720 --> 00:16:20.820 time, and they have decisions to make. And we've 00:16:20.820 --> 00:16:23.440 been very pleased, more registering every day, 00:16:23.519 --> 00:16:29.659 every hour. Last year, we had close 140 attend, 00:16:29.899 --> 00:16:31.659 and it was the largest gathering of Indigenous 00:16:31.659 --> 00:16:36.679 people from North America in modern history. 00:16:37.389 --> 00:16:39.309 certainly probably back three or four hundred 00:16:39.309 --> 00:16:42.450 years. And this year we already have close to 00:16:42.450 --> 00:16:45.029 170 people registered and still a few more days 00:16:45.029 --> 00:16:48.730 to go. So we're very pleased with the support 00:16:48.730 --> 00:16:50.809 we're receiving from everybody and the interest 00:16:50.809 --> 00:16:53.529 in the summit because we have put this together 00:16:53.529 --> 00:16:55.669 so the Indigenous people have an opportunity 00:16:55.669 --> 00:17:01.419 to tell their story directly. Again, coming back 00:17:01.419 --> 00:17:05.039 to being in this square mile, we're talking about 00:17:05.039 --> 00:17:06.740 those big issues. We're talking about energy 00:17:06.740 --> 00:17:10.059 security, infrastructure investment, critical 00:17:10.059 --> 00:17:13.599 minerals, Canada's three large deposits across 00:17:13.599 --> 00:17:15.619 the country, and we have representation at the 00:17:15.619 --> 00:17:18.779 summit from each, and the search for stable jurisdictions 00:17:18.779 --> 00:17:22.720 outside the US. Canada's reputation has only 00:17:22.720 --> 00:17:26.180 grown since the administration has changed in 00:17:26.180 --> 00:17:28.619 the States, and they've seen a different side 00:17:28.619 --> 00:17:33.630 of Canada. that most Canadians knew of, but it 00:17:33.630 --> 00:17:36.029 hadn't really been projected onto the world scene 00:17:36.029 --> 00:17:39.569 as it has been under Prime Minister Mark Carney 00:17:39.569 --> 00:17:42.529 since he got elected. And the combination of 00:17:42.529 --> 00:17:45.269 those groups in the room at this particular moment 00:17:45.269 --> 00:17:49.549 is why we think this is probably the most consequential 00:17:49.549 --> 00:17:53.430 summit yet. We've been fortunate the way the 00:17:53.430 --> 00:17:55.789 world's moved and our summit has happened. The 00:17:55.789 --> 00:17:58.880 first year was a lot about education. putting 00:17:58.880 --> 00:18:01.759 a stake in the ground about what we're trying 00:18:01.759 --> 00:18:05.319 to achieve. And last year was the beginning of 00:18:05.319 --> 00:18:07.180 the conversation. These conversations are much 00:18:07.180 --> 00:18:11.460 deeper and richer this coming summit. Yeah, we 00:18:11.460 --> 00:18:15.019 sort of up the game every year, don't we, Mark? 00:18:15.140 --> 00:18:18.140 It's a lot of hard work over really 12 months. 00:18:19.359 --> 00:18:23.440 You and Siwan and the rest of the team work so 00:18:23.440 --> 00:18:26.130 hard throughout the year talking to... potential 00:18:26.130 --> 00:18:29.069 speakers and sponsors and trying to put a program 00:18:29.069 --> 00:18:34.829 together and we really do have a great representation 00:18:34.829 --> 00:18:39.410 from coast to coast to coast in Canada. Some 00:18:39.410 --> 00:18:41.549 of the biggest projects that we've all heard 00:18:41.549 --> 00:18:46.130 about and many of them designated major projects 00:18:46.130 --> 00:18:51.799 or projects of national interest. And all of 00:18:51.799 --> 00:18:55.380 those folks involved in those projects are going 00:18:55.380 --> 00:18:58.160 to be in London talking about them and trying 00:18:58.160 --> 00:19:03.920 to encourage investors and partners from the 00:19:03.920 --> 00:19:07.640 UK and Europe. Yes. And coming back to when Prime 00:19:07.640 --> 00:19:11.160 Minister Carney's been around to 26 countries 00:19:11.160 --> 00:19:15.779 in his first year in office, he's out there telling 00:19:15.779 --> 00:19:19.460 the story. And he's done this. He's been a buyer. 00:19:20.160 --> 00:19:22.680 He's been on both sides of these deals before. 00:19:23.000 --> 00:19:25.460 So you can bet when he's having those conversations, 00:19:25.700 --> 00:19:27.619 he's getting asked some very tough questions. 00:19:28.140 --> 00:19:31.460 As you mentioned, historically in the past 10, 00:19:31.619 --> 00:19:34.880 20 years, Canada's had a reputation as a place 00:19:34.880 --> 00:19:38.779 that's difficult to get things done. And there's 00:19:38.779 --> 00:19:41.259 been a lot of uncertainty about how do you get 00:19:41.259 --> 00:19:43.539 things done? And if I do this, does it work? 00:19:43.660 --> 00:19:48.740 And there's this perception. that it maybe is 00:19:48.740 --> 00:19:50.539 still difficult and hasn't changed, but it's 00:19:50.539 --> 00:19:54.119 changed quite a bit. And the reason the summit 00:19:54.119 --> 00:19:56.660 is so important is there's Indigenous leaders 00:19:56.660 --> 00:20:03.019 across industry, across services, and individuals 00:20:03.019 --> 00:20:05.460 such as like yourself, because the Indigenous 00:20:05.460 --> 00:20:07.900 people in Canada are now in positions of power, 00:20:08.019 --> 00:20:10.980 making some of these critical decisions, not 00:20:10.980 --> 00:20:13.259 only for their own Indigenous communities, but 00:20:13.259 --> 00:20:16.640 for the country as a whole. And you bring a different 00:20:16.640 --> 00:20:18.559 perspective. The Indigenous people bring a different 00:20:18.559 --> 00:20:22.579 perspective to Canada and what the future can 00:20:22.579 --> 00:20:27.380 be by working together, by respecting communities' 00:20:27.759 --> 00:20:32.339 rights. And because of that and tying into that 00:20:32.339 --> 00:20:37.500 deep knowledge of the Indigenous people, projects 00:20:37.500 --> 00:20:40.119 will get built faster. There'll be less risk. 00:20:40.679 --> 00:20:43.220 Because you're dealing with people who actually 00:20:43.220 --> 00:20:45.519 know and are not concerned, oh, this is a five 00:20:45.519 --> 00:20:47.799 -year thing, I'll be gone somewhere else. It's 00:20:47.799 --> 00:20:51.140 their home. And worldwide, the Indigenous people 00:20:51.140 --> 00:20:53.880 have a different perspective on the environment 00:20:53.880 --> 00:20:56.980 and the world that they live in. So when things 00:20:56.980 --> 00:20:59.799 get done in Canada, they're built to last now, 00:20:59.980 --> 00:21:03.160 which is fantastic. Let's talk about some of 00:21:03.160 --> 00:21:05.400 those conversations, Rob. Let's talk about the 00:21:05.400 --> 00:21:08.140 first one, because this is what the Prime Minister... 00:21:08.319 --> 00:21:09.900 Carnie has been out there talking about it. Many 00:21:09.900 --> 00:21:12.579 people are interested in it. Is Canada the energy 00:21:12.579 --> 00:21:17.400 superpower Europe needs? And this is the section 00:21:17.400 --> 00:21:21.019 that really connects directly to the macro context 00:21:21.019 --> 00:21:23.700 of what's going on at the moment. Europe is in 00:21:23.700 --> 00:21:26.819 an energy security crisis. They have been since 00:21:26.819 --> 00:21:28.559 the war in Ukraine started a number of years 00:21:28.559 --> 00:21:34.099 ago. Canada has the supply, but every major Canadian 00:21:34.099 --> 00:21:37.799 energy project that is advancing has an Indigenous 00:21:37.799 --> 00:21:40.839 equity partnership behind it. Everyone that doesn't 00:21:40.839 --> 00:21:44.079 is stalled. And I think there's 20 that's been 00:21:44.079 --> 00:21:46.660 approved and there's only three moving ahead. 00:21:46.799 --> 00:21:49.559 But those three are because they've been developed 00:21:49.559 --> 00:21:52.319 with the Indigenous people and their communities. 00:21:52.640 --> 00:21:56.099 And those ones are moving ahead. So it's not 00:21:56.099 --> 00:22:00.160 anecdotal. If you want to proceed, you're going 00:22:00.160 --> 00:22:02.299 to need to work with the Indigenous peoples. 00:22:02.380 --> 00:22:05.369 And that's how to get things done. Yeah, the 00:22:05.369 --> 00:22:09.029 case law is pretty clear now. Indigenous people 00:22:09.029 --> 00:22:13.190 need to have a meaningful involvement. The statutes 00:22:13.190 --> 00:22:18.670 and laws are clear. The new law in Canada around 00:22:18.670 --> 00:22:24.289 major projects requires Indigenous involvement. 00:22:24.589 --> 00:22:28.750 So it's just you don't get anywhere without involving 00:22:28.750 --> 00:22:31.990 the local Indigenous community in a meaningful 00:22:31.990 --> 00:22:36.430 way anymore. Right. And the LNG has now started 00:22:36.430 --> 00:22:38.910 to flow from the West Coast over to Asia. I think 00:22:38.910 --> 00:22:41.930 the first shipments arrived in the past few weeks 00:22:41.930 --> 00:22:45.589 or months, and that couldn't have come at a better 00:22:45.589 --> 00:22:48.990 time. And now they're looking at, okay, how do 00:22:48.990 --> 00:22:51.190 we get it going in the other direction? A few 00:22:51.190 --> 00:22:53.990 years ago, the German government came and asked 00:22:53.990 --> 00:22:56.849 Canada, gee, we want to buy LNG from you. And 00:22:56.849 --> 00:22:59.329 Canada at the time wasn't receptive to that, 00:22:59.410 --> 00:23:02.960 so the Germans went to buy from Qatar. Unfortunately, 00:23:03.019 --> 00:23:07.279 that's not a reliable supply at the moment. And 00:23:07.279 --> 00:23:10.519 Canadians have even mentioned, well, America, 00:23:10.599 --> 00:23:12.759 if you really want some oil, you can build the 00:23:12.759 --> 00:23:15.460 Keystone Pipeline, which actually got stopped 00:23:15.460 --> 00:23:18.180 in the U .S. And the pipes are sitting there 00:23:18.180 --> 00:23:21.180 on the ground. So if you have the support of 00:23:21.180 --> 00:23:23.160 the people, the Indigenous people, to get things 00:23:23.160 --> 00:23:27.140 done, there's all kinds of projects that are 00:23:27.140 --> 00:23:30.279 ready to go. That's right. You mentioned we're 00:23:30.279 --> 00:23:32.619 already shipping LNG from the West Coast. That's 00:23:32.619 --> 00:23:36.880 the LNG Canada project. That's Shell's big project. 00:23:37.019 --> 00:23:40.460 And they're looking at expansion possibly later 00:23:40.460 --> 00:23:46.319 this year. And then the Niska Nation is a lead 00:23:46.319 --> 00:23:50.259 proponent for the Silissums LNG project, which 00:23:50.259 --> 00:23:55.079 is a big $10 billion project, hoping to get a 00:23:55.079 --> 00:23:58.859 final investment decision. Right, and that's 00:23:58.859 --> 00:24:02.099 one of our key conversations, the Nylissim's 00:24:02.099 --> 00:24:04.200 LNG. Do you want to talk a little bit about that? 00:24:04.339 --> 00:24:09.019 Yeah, NISCA will be represented on that panel, 00:24:09.079 --> 00:24:13.619 and they'll tell us about the latest status of 00:24:13.619 --> 00:24:20.880 that project. But they are a 50 -50 partner with 00:24:20.880 --> 00:24:27.529 some American. Oil and gas companies and Blackstone 00:24:27.529 --> 00:24:30.849 are involved in that. Total Energy is involved 00:24:30.849 --> 00:24:34.829 in that project, but also another West Coast 00:24:34.829 --> 00:24:39.789 LNG project. That will be important. And it's 00:24:39.789 --> 00:24:42.210 a different project than Cedar LNG, who was at 00:24:42.210 --> 00:24:45.569 our summit last year, because in this case, they 00:24:45.569 --> 00:24:48.609 own the land and they're working with majors 00:24:48.609 --> 00:24:52.130 to how do we build this out? So that'll be an 00:24:52.130 --> 00:24:56.200 interesting. Another big theme that we're talking 00:24:56.200 --> 00:24:59.579 about is why institutional capital is repricing 00:24:59.579 --> 00:25:03.059 Canadian projects. There's over $45 billion in 00:25:03.059 --> 00:25:05.839 Indigenous partner projects advancing towards 00:25:05.839 --> 00:25:09.000 construction at the moment. And three years ago, 00:25:09.059 --> 00:25:11.299 the financing architecture to make that happen 00:25:11.299 --> 00:25:13.819 really didn't exist. But we now have the Canadian 00:25:13.819 --> 00:25:16.380 Indigenous Loan Guarantee Corporation, the First 00:25:16.380 --> 00:25:18.440 Nations Financial Authority to Venture Program. 00:25:19.289 --> 00:25:21.470 Private debt funds purpose -built for the sector 00:25:21.470 --> 00:25:24.210 are now operational. Deals are happening, the 00:25:24.210 --> 00:25:28.289 money's coming in. Yeah, when I talk about what 00:25:28.289 --> 00:25:31.869 has changed in Canada and why should investors 00:25:31.869 --> 00:25:35.670 look again, geopolitics are forcing investors 00:25:35.670 --> 00:25:38.710 and partners to look again at Canada. But when 00:25:38.710 --> 00:25:41.609 they ask what has changed in the last 10 years 00:25:41.609 --> 00:25:46.000 or so, some of these financial... support for 00:25:46.000 --> 00:25:49.400 Indigenous people to get involved and take meaningful 00:25:49.400 --> 00:25:52.599 equity stakes in project. All of that is brand 00:25:52.599 --> 00:25:56.539 new. The federal loan guarantee program, which 00:25:56.539 --> 00:26:00.099 is a $10 billion program, has really only been 00:26:00.099 --> 00:26:03.599 up and running for about 12 months. And they've 00:26:03.599 --> 00:26:08.480 advanced to, provided two big guarantees for 00:26:08.480 --> 00:26:10.779 projects, and they've got something like 30 others 00:26:10.779 --> 00:26:15.279 in their pipeline now. program didn't exist uh 00:26:15.279 --> 00:26:20.559 even two years ago wow so that's part of the 00:26:20.559 --> 00:26:23.279 change that's happening and this session is actually 00:26:23.279 --> 00:26:25.400 moderated by the head of infrastructure debt 00:26:25.400 --> 00:26:28.839 at a major uk institutional asset manager so 00:26:28.839 --> 00:26:32.299 we have it's going to be really interesting conversations 00:26:32.299 --> 00:26:37.819 about how to move things ahead and how to succeed 00:26:37.819 --> 00:26:40.759 and the opportunities in front of people and 00:26:40.759 --> 00:26:44.750 we've talked about One area we've also can talk 00:26:44.750 --> 00:26:48.670 about the Kitsaki model, 180 million in revenue, 00:26:48.869 --> 00:26:51.769 44 years in the making. Maybe they would say, 00:26:51.789 --> 00:26:53.329 well, it's been a thousand years in the making. 00:26:53.369 --> 00:26:55.769 We're finally getting our opportunity to pull 00:26:55.769 --> 00:26:57.990 it together. What do you think, Rob? Can you 00:26:57.990 --> 00:27:00.569 talk a little bit about that? Yeah, a very, very 00:27:00.569 --> 00:27:03.309 impressive group. And Chief Tammy Cook -Searson. 00:27:05.599 --> 00:27:08.720 who is the chief at Lac La Ronge Indian Band, 00:27:08.880 --> 00:27:11.440 which is Saskatchewan, middle of the country, 00:27:11.579 --> 00:27:17.420 and just this week re -elected once again. She's 00:27:17.420 --> 00:27:20.599 30 -plus years, I think, as chief. She'll be 00:27:20.599 --> 00:27:25.140 with us, as well as the CEO of Kitsaki, which 00:27:25.140 --> 00:27:27.900 is their wholly -owned development corporation, 00:27:28.339 --> 00:27:33.809 Ron Higgin. And so they'll be with us talking 00:27:33.809 --> 00:27:36.509 about some of the things they're involved in 00:27:36.509 --> 00:27:41.630 from mining to transportation, engineering, forestry. 00:27:42.049 --> 00:27:45.250 They've got so much on the go. It's a really, 00:27:45.289 --> 00:27:48.990 really impressive story. Wow. And that session 00:27:48.990 --> 00:27:51.049 is actually going to be moderated by the president 00:27:51.049 --> 00:27:52.670 of the London Chamber of Commerce and Industry. 00:27:54.109 --> 00:27:57.660 So, again. We're going to have some very interesting 00:27:57.660 --> 00:28:00.779 conversations. I guess one of the other really 00:28:00.779 --> 00:28:04.660 exciting areas this year, and when we set out 00:28:04.660 --> 00:28:07.500 to plan the summit, we have to take our best 00:28:07.500 --> 00:28:10.180 guess about what's going to be the interesting 00:28:10.180 --> 00:28:11.839 conversations. And we're going to talk about 00:28:11.839 --> 00:28:14.839 the Arctic Security Corridor and the circumpolar 00:28:14.839 --> 00:28:19.960 frontier. And, you know, Canada's learning about 00:28:19.960 --> 00:28:22.279 the Arctic and the North because the majority 00:28:22.279 --> 00:28:26.220 of Canadians live along. the southern border 00:28:26.220 --> 00:28:29.319 and there's there's many there's a number of 00:28:29.319 --> 00:28:31.880 canadians who refer to southerners and they're 00:28:31.880 --> 00:28:34.339 not talking southern us they're talking southern 00:28:34.339 --> 00:28:39.480 the country who haven't been north of uh north 00:28:39.480 --> 00:28:42.680 of their province or even in their province you 00:28:42.680 --> 00:28:44.980 know most people live in the southern areas and 00:28:44.980 --> 00:28:48.519 we're talking about nunavut we're talking about 00:28:48.519 --> 00:28:51.240 northern quebec we're of course talking about 00:28:51.240 --> 00:28:53.720 northern ontario manitoba saskatchewan alberta 00:28:53.720 --> 00:28:57.450 but of course Yukon and the Northwest Territories. 00:28:58.049 --> 00:29:00.529 So those are really interesting discussions. 00:29:00.670 --> 00:29:04.150 And we've had some great podcasts recently. And 00:29:04.150 --> 00:29:06.230 one of the comments that kind of hit home is 00:29:06.230 --> 00:29:09.349 when Greenlanders come over to visit Canada. 00:29:11.029 --> 00:29:14.849 And of course they go to their Arctic with their 00:29:14.849 --> 00:29:18.569 shared Indigenous people. You know, they look 00:29:18.569 --> 00:29:21.130 and say, gee, you guys are 50 years behind where 00:29:21.130 --> 00:29:23.910 we are. And there's been all this discussion 00:29:23.910 --> 00:29:26.109 about Greenland and it's not really developed. 00:29:26.329 --> 00:29:29.329 And here they're coming over and saying, Jeepers, 00:29:29.349 --> 00:29:33.089 you guys haven't even started. So there's some 00:29:33.089 --> 00:29:35.109 interesting projects we're talking about in that 00:29:35.109 --> 00:29:38.910 session. Yeah, again, really good representation 00:29:38.910 --> 00:29:42.390 across the North and some of the biggest projects 00:29:42.390 --> 00:29:46.569 that are proposed, including the... Arctic Economic 00:29:46.569 --> 00:29:49.130 and Security Corridor and the Grays Bay Road 00:29:49.130 --> 00:29:53.589 and Port project, which is all linked across 00:29:53.589 --> 00:29:57.250 the Northwest Territories and Nunavut. A road 00:29:57.250 --> 00:30:04.430 connecting to the Arctic and a port. Major, major 00:30:04.430 --> 00:30:08.789 infrastructure project. And we'll be talking 00:30:08.789 --> 00:30:11.250 about that and have the CEOs who are involved 00:30:11.250 --> 00:30:16.559 in that all along the way. And in the Yukon, 00:30:16.579 --> 00:30:20.059 they've got mining and telecom projects. They've 00:30:20.059 --> 00:30:25.460 got transmission major projects that they'll 00:30:25.460 --> 00:30:29.579 be talking about. All very exciting. Yes, and 00:30:29.579 --> 00:30:32.619 with Yukon, it's gone through a period where 00:30:32.619 --> 00:30:38.140 they couldn't figure out how to move ahead. And 00:30:38.140 --> 00:30:42.250 now there's that stability. my understanding 00:30:42.250 --> 00:30:44.650 from the conversations we've had prior to the 00:30:44.650 --> 00:30:48.069 summit a direction about how do we how do we 00:30:48.069 --> 00:30:50.789 move things uh ahead in terms of development 00:30:50.789 --> 00:30:54.549 and there is no permanent roads in nunavut there 00:30:54.549 --> 00:31:02.130 are ice roads so there's a huge need as all the 00:31:02.130 --> 00:31:06.910 great powers start to look at at the arctic and 00:31:06.910 --> 00:31:10.809 the canada uk defense and resilience partnership 00:31:11.819 --> 00:31:13.799 was announced by Prime Minister Carney and Prime 00:31:13.799 --> 00:31:17.319 Minister Starmer. So the Circumpolar Frontier 00:31:17.319 --> 00:31:21.140 is no longer just a Canadian story. It's of interest 00:31:21.140 --> 00:31:24.099 to our allies. And as our allies have talked 00:31:24.099 --> 00:31:27.079 about the need to have a presence in Greenland, 00:31:27.140 --> 00:31:29.700 they're also looking for Canada to lead and support 00:31:29.700 --> 00:31:33.519 with them having a strong presence in the Arctic. 00:31:33.759 --> 00:31:36.559 But these sessions are only part of what makes 00:31:36.559 --> 00:31:40.140 this day valuable. So why don't we talk about... 00:31:40.490 --> 00:31:42.569 Some of the practitioners that are in the room. 00:31:42.869 --> 00:31:46.109 Yeah, from institutional capital, we've got UK 00:31:46.109 --> 00:31:51.509 institutional asset managers, head of infrastructure 00:31:51.509 --> 00:31:56.470 debt, chief responsible investment officer at 00:31:56.470 --> 00:32:00.690 a big UK institutional pension board, delivering 00:32:00.690 --> 00:32:05.710 a keynote. We've got the VP of global credit 00:32:05.710 --> 00:32:09.390 ratings agency, moderating, and the list goes 00:32:09.390 --> 00:32:12.670 on. We've got Canadian pension funds represented. 00:32:13.609 --> 00:32:15.650 It's a strong lineup. So we have institutional 00:32:15.650 --> 00:32:19.309 capital, capital markets. We, of course, have 00:32:19.309 --> 00:32:23.950 the big Canadian banks with us. We have the CEO 00:32:23.950 --> 00:32:26.730 of the Toronto Stock Exchange is joining us. 00:32:26.789 --> 00:32:29.529 We're very pleased to have him with us. And then 00:32:29.529 --> 00:32:32.029 we've got financial media's participation this 00:32:32.029 --> 00:32:36.390 year. We have economists, international economics 00:32:36.390 --> 00:32:38.670 correspondents moderating the Ring of Fire panel. 00:32:38.809 --> 00:32:42.140 We've got... The Financial Times, FT Intelligence, 00:32:42.519 --> 00:32:44.900 Global Market Editors, Managing Panel. We've 00:32:44.900 --> 00:32:47.819 got a few other journalists arriving as well. 00:32:47.940 --> 00:32:51.000 And they will ask the hard questions. And their 00:32:51.000 --> 00:32:53.740 coverage will reach the UK and European institutional 00:32:53.740 --> 00:32:56.579 audience that are not yet in the building. And 00:32:56.579 --> 00:32:58.500 of course, from the Indigenous leadership side, 00:32:58.759 --> 00:33:01.740 we are very fortunate once again to have their 00:33:01.740 --> 00:33:04.619 support. And we have the chiefs, presidents, 00:33:04.839 --> 00:33:08.730 CEOs who are making a difference. in Canada, 00:33:08.789 --> 00:33:11.369 not only for their communities, but Canada as 00:33:11.369 --> 00:33:13.970 a whole, who are providing leadership. And I 00:33:13.970 --> 00:33:15.730 think the other exciting thing is we've talked 00:33:15.730 --> 00:33:18.390 about this a number of times. Some of the most 00:33:18.390 --> 00:33:22.430 aggressive entrepreneurs in Canada are the Indigenous 00:33:22.430 --> 00:33:27.250 leaders and their companies. In fact, I think 00:33:27.250 --> 00:33:29.630 most people know that Canada is looking at making 00:33:29.630 --> 00:33:31.589 a submarine purchase. They're talking to the 00:33:31.589 --> 00:33:34.829 Germans and South Koreans. And the Germans just 00:33:34.829 --> 00:33:39.650 signed an NDA. And we have them in the room, 00:33:39.710 --> 00:33:42.650 the Indigenous people who've signed that NDA, 00:33:42.809 --> 00:33:45.130 which is really, really something. And this is 00:33:45.130 --> 00:33:46.950 what we always try and provide at the summit, 00:33:47.029 --> 00:33:50.230 access to the people who are shaping and making 00:33:50.230 --> 00:33:53.609 the decisions about the projects that will make 00:33:53.609 --> 00:33:59.250 a difference. So who should be in the room, Rob? 00:33:59.349 --> 00:34:01.049 And what does someone get from being there that 00:34:01.049 --> 00:34:03.329 they can't get from reading just the agenda or 00:34:03.329 --> 00:34:07.259 having a single conversation somewhere? Well, 00:34:07.299 --> 00:34:09.380 we started with the target audience are really 00:34:09.380 --> 00:34:14.099 UK and European investors and then corporations 00:34:14.099 --> 00:34:19.099 that are considering partnering or doing anything. 00:34:19.179 --> 00:34:21.639 And whether it's infrastructure, mining, energy 00:34:21.639 --> 00:34:27.039 in those areas, if you're considering working 00:34:27.039 --> 00:34:30.719 in that space in Canada, you are going to be 00:34:30.719 --> 00:34:37.000 working with Indigenous people. the decision 00:34:37.000 --> 00:34:42.260 makers across the country, up and down as well. 00:34:42.440 --> 00:34:46.420 And so that's the target audience, the UK investors 00:34:46.420 --> 00:34:50.360 and corporates. But we also have a big contingent 00:34:50.360 --> 00:34:53.800 from Canada coming, I think, because the speakers 00:34:53.800 --> 00:34:58.420 and panelists and others there, it's a unique, 00:34:58.579 --> 00:35:02.960 unique gathering. And so we've got great representation 00:35:02.960 --> 00:35:06.610 from Canada too. not just at the speaker level, 00:35:06.730 --> 00:35:09.969 but many attendees making the trip over because 00:35:09.969 --> 00:35:12.829 they want to be part of the conversation. Yes, 00:35:12.889 --> 00:35:15.449 and about half the room is from Canada and half 00:35:15.449 --> 00:35:19.030 the room is from the UK and beyond. And I guess 00:35:19.030 --> 00:35:21.329 every year after the summit, and this is our 00:35:21.329 --> 00:35:22.989 third year, we get the similar version of the 00:35:22.989 --> 00:35:24.889 message from the delegates. They came expecting 00:35:24.889 --> 00:35:26.869 a conference, but they left with relationships 00:35:26.869 --> 00:35:28.670 that they couldn't have built any other way. 00:35:29.250 --> 00:35:32.210 So that's very powerful for us because we're 00:35:32.210 --> 00:35:36.539 still, this is an ongoing. initiative from us. 00:35:37.280 --> 00:35:40.300 We have the summit every year. We'll be scheduling 00:35:40.300 --> 00:35:45.360 the next one for 2027 in April as well. And the 00:35:45.360 --> 00:35:48.920 most important thing is if you're at the summit, 00:35:49.000 --> 00:35:52.199 this is where these conversations begin. And 00:35:52.199 --> 00:35:54.630 this is not... People sit in the audience and 00:35:54.630 --> 00:35:57.150 just listen the whole day. You're engaging. You're 00:35:57.150 --> 00:36:00.550 having opportunities to network and talk to decision 00:36:00.550 --> 00:36:04.130 makers. So really exciting, Rob. I think you're 00:36:04.130 --> 00:36:06.969 coming over here early next week. It's just after 00:36:06.969 --> 00:36:12.849 Easter. It is Passover for some of our individuals 00:36:12.849 --> 00:36:16.969 who wanted to be involved. But it's going to 00:36:16.969 --> 00:36:21.679 be very exciting April. beginning of April for 00:36:21.679 --> 00:36:25.659 everyone who's at the summit and ties in with 00:36:25.659 --> 00:36:30.119 what the world's looking for, which is stable 00:36:30.119 --> 00:36:34.960 jurisdictions, resource rich, with commercial 00:36:34.960 --> 00:36:40.460 opportunities available. And an Indigenous leadership 00:36:40.460 --> 00:36:45.980 that wants to get to know you better. So I can't 00:36:45.980 --> 00:36:48.260 wait. Looking forward to being in London. I'll 00:36:48.260 --> 00:36:52.260 see you. See you shortly. Yes, it will be great 00:36:52.260 --> 00:36:56.539 to have you here once again. So thanks, Rob. 00:36:56.780 --> 00:36:59.619 Enjoy your trip across the rest of the country. 00:36:59.659 --> 00:37:01.760 I assume you're flying across the country and 00:37:01.760 --> 00:37:05.800 not taking the train, right? Good assumption, 00:37:05.920 --> 00:37:09.059 yeah. Look forward to having you over here again, 00:37:09.239 --> 00:37:11.219 Rob. It'll be great. So we'll see you in the 00:37:11.219 --> 00:37:18.329 city next week. Mark your calendars for the upcoming 00:37:18.329 --> 00:37:21.349 2026 Summit taking place on the 8th of April. 00:37:21.869 --> 00:37:24.469 Be sure to share, subscribe, and leave a review 00:37:24.469 --> 00:37:27.329 on your favorite podcast channel. Thanks for 00:37:27.329 --> 00:37:29.469 listening to Drumbeats. Until next time.