Operator
Good day, ladies and gentlemen, and thank you all for joining us for this Energy Fuels proposed acquisition of VAC. [Operator Instructions] And to get us started with opening remarks and introductions, it is my pleasure to turn the floor over to President and CEO, Mr. Ross Bhappu. Welcome, sir.
Ross Bhappu
President, CEO & Director
Thank you, Jim, and thank you, everybody, for joining us today. We have some really exciting news to talk about, and I’m excited to be here with Erik Eschen. Actually, Erik is in Germany, but he’s joining me online and we’ll be making a presentation together to tell you about this great news.
So if we flip to Slide 4. Yes. First of all, I just want to, again, thank everybody for joining. Today marks a very important milestone for Energy Fuels and rare earth supply chain security. With the acquisition of Vacuumschmelze, also known as VAC, we’re realizing our vision to become the only really true Western mine-to-magnet platform. This culmination of years of effort to build a world-class portfolio of upstream, midstream and downstream mining assets that comprise a uniquely vertical — sorry, unique vertically integrated rare earth supply chain.
I’m now going to walk you through how all these pieces fit together, starting with the VAC transaction. So just starting on Page 5. VAC is a leading advanced magnetics company headquartered in Hanau, Germany. This transaction coming on the heels of our planned acquisition of ASM puts us on a
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