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That recent detailed study by CIBC suggests that the current supply is closer to 350,000kg and the domestic recreational demand will be approximately 800,000kg. That still portrays a significant supply gap at the onset. That gap will narrow over time and could lead in a few years time to an oversupply situation. Having read that study, they are missing a few of the supply and demand forces that have discussed in the past and repeated in the next section of this case study introduction so if one attempted to incorporate those demand forces into the CIBC projection one just may find it to be closer to 1,000,000kg. I have written several times that third party after the fact attestation is the best assurance or validation possible. The entire CIBC document is in many ways the “consolidation curve” and what we have been preparing you for since 2016.
Now let’s move to the basic facts of this industry