What's the enrichment landscape looking like now?

Well, y- you're right.

I mean, things have changed, uh, since the 2020s quite dramatically.

For example, us at Urenco, we were planning to be a smaller company in 2030 than we were in 2020, for the reason that- There was ample overcapacity in an, in the enrichment market.

Prices were depressed, and therefore we were just planning for as soft a landing as we could in terms of capacity.

Now, there are several factors that came into play and that have changed completely the landscape for nuclear and therefore for enrichment.

The first one was decarbonization, so there was a clear drive to decarbonize, and the pledges signed at COP28 and others clearly showed political willingness to enter into nuclear again.

Uh, but from an outsider's point of view, I just wonder what the rationale is for not being involved in other parts of the fuel cycle.