Hey, good morning, everyone. Thank you for joining us. I do have a bit of a cold, but fortunately tested negative for COVID last night. I've got a feeling we may be feeling a little bit like the Queensland Rugby League team is feeling this morning. Joining me on the call is also our Chief Financial Officer and Finance Director, Lawrie Conway. We've just completed our extensive forward planning and FY 2023 budgeting process, and thought it was important to provide you with a detailed update on our business, and also answer any questions you may have. Strategically, we have positioned our business for the inflationary cost conditions we are currently confronting in the gold industry. We have a concentrated portfolio of high-quality assets positioned in the lowest quartile of the cost curve, a strong balance sheet and good organic growth, which will create genuine value for our shareholders. A continued focus on margins over volume, on return on capital, and only allocating capital that is accretive for our shareholders. That is, in our view, the pathway to shareholder value creation. Having said that, we do acknowledge that we have fallen short on operational delivery over the last 12 months. I assure you that we are determined to address this. Today we'll be talking to the presentation released on the ASX this morning titled Business Update, and the areas we wanna cover are outlined on slide two and include. Actually, it may be slide three. A brief summary as to how we are closing out the current financial year, an update on each of our assets, our production outlook over the next two years, and our cost outlook in detail on some of the drivers impacting our costs. Lawrie will talk to our cost position and drivers, and then we'll open up the lines for questions. Turning to slide four. We'll finish this quarter with production of around 170,000 ounces, which is 15% higher than the previous quarter, but does fall slightly short of where we expected to be. May was a particularly difficult month at Cowal, with rainfall making planned material movement very challenging. At Mungari, since the borders to Western Australia opened in March, over 30% of our 500-person workforce has been absent from site while isolating for at least seven days. We are pleased that our people are all in good health, but this absenteeism has exacerbated the already very challenging labor market conditions at that operation. While we were on track to achieve the upper end of our cost guidance, we do have four Ernest Henry copper shipments open at any time that will need to be revalued at year-end to account for the recent lower copper price, and will result in our all-in sustaining costs being approximately AUD 1,250 an ounce. We have benefited from the fall in the Australian dollar, and our AISC in US dollars is $875 an ounce. These issues, many of which are outside of our control, do cast a shadow on a number of significant positives we have achieved. We know that all eyes are on Red Lake, and I am pleased that this quarter we have again been able to increase production by 15% to around 38,000 ounces. Since the borders opened in Canada in the middle of last year, we've been able to make a number of site visits, and people have been on the ground multiple times, including our full board, who were able to visit the site for the first time a few weeks ago. The momentum and change at this site is apparent, and we feel optimistic about the transformation occurring at this operation. Ernest Henry has generated over AUD 400 million in the last twelve months, which is a fantastic outcome. Our sustaining and major capital is expected to be at the bottom end of guidance, and our balance sheet is very strong with around AUD 900 million in available liquidity. Turning to slide five. At Red Lake this quarter, we have been able to achieve a consistent base run rate in the physicals that we require to enable us to deliver the planned 35% increase in production in FY 2023 to 160,000 ounces, and then plan to increase it to 200,000 ounces the following year. Acknowledging that reaching the 200,000 ounce per annum production rate is around 12 months later than originally planned in 2021, we still remain confident that Red Lake is on the pathway to fulfilling our vision of a long life, low cost, 300,000 ounce+ a year mine. The Upper Campbell Mine, which will be a very important new high-grade ore source, is on track to start delivering ore, albeit in small quantities to start with, next quarter. We are completing a milling optimization strategy this calendar year. The success we have had at increasing throughput at the existing Campbell and Red Lake mills have allowed us to defer the Bateman Mill expansion until at least FY 2024. Turning to slide six. Notwithstanding the inflationary cost pressures, the AUD 380 million Cowal underground mine remains on the original schedule and budget with all major contracts in place. Underground ore will be sourced predominantly in the next year from development ore, with the first stopes ore on schedule for the June 2023 quarter. The development of this significant underground mine will grow the operation's gold production next financial year to 275,000 ounces and the following year to 320,000 ounces. This is a 40% increase over the next two years from the current production levels. Turning to slide seven. Ernest Henry is a transformative asset for us. This year it's generated over AUD 400 million in cash flow, and we are also growing increasingly excited and confident about the deposit's depth extensions, which will add to the mine life. An updated Ernest Henry mineral resource is scheduled for release in the September quarter. The new model incorporates 42,000 meters of underground drilling completed since the previous model update in May 2021. Overall, we expect the drilling results to extend the copper gold footprint across the main mineralized lenses in the area of the pre-feasibility study and below. Two surface drill rigs commenced in April with the aim of continuing infill and extension drilling in the pre-feasibility study area. Results from this surface program will be included in the 2022 MRR statement, which will be re-released in the March 2023 quarter. Early indications from the drilling suggest the mineralized zones in the areas drilled to date are potentially broader than currently modeled. I'm gonna turn to slide eight now. Labor market conditions in Western Australia have been challenging and disruptive at Mungari. It does feel like we are back to the boom time conditions when commodity prices last peaked in 2011. In our view, these conditions are not sustainable, and while we will complete the plant expansion study by the end of this calendar year as scheduled, we have decided to defer any commitment to this expansion and focus on optimizing the current operation. This will allow us to produce approximately 127,000 ounces for each of the next two years and mitigate the risks of undertaking a major construction project in the current WA labor and cost environment. The previously reported North Wall issues at Mt Rawdon are being well managed, and we expect to produce approximately 75,000 ounces in each of the next two years. Progress on the Pumped Hydro project is progressing with our partner, ICA Partners, and we expect that we will be able to receive coordinated project status in the coming quarter from the Queensland Government. On slide nine, we have summarized the production outlook over the next two years, which will see a 25% increase in ounces produced to approximately 800,000 ounces. We continue to remain focused on margin over ounces, and the slower ramp-up at Red Lake is the main cause of the lower production compared to our previous guidance. The main growth is coming from Cowal and Red Lake, which are the two sites that will also receive the largest capital allocation. Our other assets are anticipated to operate largely in line with current performance, with Mt Rawdon benefiting from being able to have better access to the pits. Evolution's portfolio is already positioned in the lowest cost quartile, and we are in a strong position with good organic growth ahead of us. Given current market conditions, we do intend to be proactive and diligent to ensure that any expenditure, irrespective of whether it is in our plans or not, is rigorously tested again before we commit to it. On that note, I will hand over to Lawrie. Thank you, Jake, and good morning, everyone. Today, I'll update you on our cost outlook based on the production outlook just outlined by Jake and current market conditions. Slide 10 shows our cost outlook. We will finish the year FY 2022 at around AUD 1,250 per ounce or $875 per ounce. While the lower production is having a slight negative impact, the main cause to the change has been the downward movement in the copper price. The final reported AISC for FY largely depend on the closing copper price for June. This is because we normally have four concentrate shipments at Ernest Henry open and subject to copper price at any point in time. The price has moved lower by around 15% in the last eight weeks. This negative impact will result in the group AISC being above the guidance range of AUD 1,135-AUD 1,195 per ounce. The outlook for FY 2023 and FY 2024 is an AISC of approximately AUD 1,240 per ounce or U.S. $870 per ounce. This is in line with the current year. The increased production outlined by Jake is offsetting the inflated cost market we are currently experiencing. I'll outline the main cost inflation drivers on the next slide. While the growth in production is good and helps us with the unit cost, we are continuing to be vigilant on our cost position and remain focused on margin over ounces. We are not planning on bringing on production which merely erodes our margin. Obviously, we do not know where the input costs or copper prices are going to move in the next couple of years, and these will have a material impact on our group AISC position. We have assumed $12,500 per ton, sorry, copper price to calculate our all-in sustaining cost outlook. The lower ramp-up in production at Red Lake and the rapid cost increase in the last six months are the main drivers of the increase over the outlook provided in November 2021. Moving to Slide 11, where we'll see the impact of the main cost drivers. The key inputs which have moved most are labor, diesel, and power. These three items comprise approximately 63% of our operating cost base. Firstly, looking at labor. At the time of our half-year results, we were expecting labor rates to increase by 4%-5%, and now are planning on them moving 5%-6%. This is likely for both our employee labor and contractors. For our employee labor, we continue placing more weighting to the variable component at all levels of the organization. Diesel, which comprises 5% of our operating costs, have been impacted by the rising oil price. The price is currently 130% higher than the start of the financial year. However, as you'll see on the top right-hand chart, the largest increase has come since January 2022. Our sensitivity to a US $10 per barrel oil price movement is AUD 5 million of cash flow and AUD 7 per ounce on AISC. Power, which comprises 8% of our total operating costs, will be impacted later this year as our current contracts expire. Given the current market prices, which, for example, in New South Wales, have risen by 180% since the start of the financial year, with the biggest increase coming in the last few months. We will be renewing contracts for Cowal, Mt Rawdon, and Mungari this year. The acquisition of Ernest Henry has resulted in power costs becoming a higher percentage of our total operating costs since power represents approximately 16% of the operations costs. We are finalizing the contract for Ernest Henry, with the rate expected to increase by 25% from FY 2023. Turning to our capital outlook, which is on Slide 12. Sustaining capital for the next two years will be in the range of AUD 190 million-AUD 240 million. This is higher than the previous outlook, with FY 2023 driven mainly by the partial replacement of the mobile fleet at Ernest Henry on the back of a positive view on mine life extension. This will avoid higher maintenance costs into the future for this fleet, and we have taken advantage of availability of production slots. We have also seen delays in delivery of capital items in the last part of FY 2022, which will flow over into our FY 2023 capital. The main driver to the change in FY 2024 is at Cowal and relates to higher underground mine development rates linked to the latest mine plan. The outlook for major capital remains unchanged at AUD 530 million-AUD 600 million, with the Cowal projects comprising most of this at AUD 325 million-AUD 360 million. Of this amount, the underground project comprises AUD 260 million-AUD 280 million, with the project remaining on schedule and within the AUD 380 million budget. Red Lake will invest CAD 130 million-CAD 150 million in FY 2023, with the main areas being development of the Upper Campbell mine, optimization of the Campbell mill at the higher processing rates, and mine development at the existing operation. The capital outlook is lower than the previous outlook, which is a perfect example of our capital discipline. The projects which have been deferred are the McFinley Mine and the Bateman Mill expansion, and this is due to the improvements we have made in recent quarters on mining and processing. These projects will come through in the mine life, but when the investment is warranted. Meanwhile, the outlook for FY 2024 has been lowered to AUD 330 million-AUD 380 million, predominantly due to lower capital at Cowal. Lastly, on Slide 13. In summary, the latest plans we have just finalized position Evolution to remain one of the lowest cost gold producers. We plan to increase our production by 25% over the next two years, following the investment in building the underground mine at Cowal and continuing to invest in the transformation at Red Lake. Our all-in sustaining cost during this period is expected to be around AUD 1,240 per ounce or $870 per ounce, which means our increase in production is more than offsetting the current and expected cost inflation. Importantly, if the cost inflation reduces during this next two years, our unit cost will decrease and margins increase. However, we are still exposed to further inflation, and we hope that this doesn't continue through an extended period. During this planning period, we are very cognizant of the market conditions, and therefore, our focus on margin means a prudent and guided approach to capital spend was even more important. We have taken decisions to defer capital projects but have committed to the required studies so that when market conditions change, the projects which generate adequate returns will be allocated the capital. The balance sheet is strong, with around AUD 900 million of liquidity, including AUD 540 million of cash, and the plans demonstrating that we are able to fund our projects. We know what our sensitivities to cost and metal prices are and proactively manage these impacts. Thank you for your time this morning, and I'll now ask Harmony to open the line for questions. Thank you. If you wish to ask a question, please press star one on your telephone and wait for your name to be announced. If you wish to cancel your request, please press star two. If you're on a speakerphone, please pick up the handset to ask your question. Your first question comes from Kate McCutcheon from Citi. Please go ahead. Hi. Good morning, Jake and Lawrie. Can I start at Red Lake, please? Just on the guidance for next year and then looking to 2024. With a reserve grade of 7 grams per tonne, how do I get to 160,000 ounces for next year? What else can you tell me about tonnes or grade that you're expecting, noting that Upper Campbell's got the higher grades? Yeah. Thanks, Kate. I think that's the key to it. If you look at our reserve statements that was released in March this year, you'll see that the various ore bodies at Red Lake differ in grade. The highest grade material is in the Upper Campbell area, and that's the mine, new mine we're effectively developing. We have tried to provide you with some detail as to when you can expect to see ore from that, those sources. You can see that really over the next couple of years is when it starts to really ramp up in terms of access to that ore. That's on slide five. In terms of the physicals that we're achieving, we achieved in the last quarter, that's what we largely require in order to deliver the 160,000 ounces. Noting that the ore will come largely from Cochenour and the Lower Campbell and Balmer mines. With some coming, starting to come from the new MMTP and Aviation Zone. Largely what we've done in the last quarter. As we start to develop the decline into the Upper Campbell area, you're gonna start to see us access, particularly in FY 2024, higher grade material out of there. Okay, would 1 million tons for next year and then ramping up to 1.2 million tons be fair in 2024? Yes, that's roughly correct. Yeah. Okay. Kate, it'll ramp up through the second half of FY 2024, but the reality is that FY 2024 sees the grade increase again over the second half of FY 2023 as we get more tons coming from Upper Campbell and displacing the lower grades out of Red Lake. So that's how we see them transition from this year to next year and through to FY 2024. Is there ever a point where that global mining grade is around the average of seven? Yeah. As we move towards the 300,000 ounces a year zone, it will start to get close to the 7 grams a ton. I would say that, you know, we have done a lot of looking at the resource and reserve models, and are very confident that the areas we're mining are performing to the reserve grade that we expect. Okay, cool. Can I move to Western Australia to Mungari? I think at the start of the year you added in, was it 250,000 ounces to the reserves, and that was in part driven by the lower processing costs from the mill expansion study. Now it seems like you're deferring that with the pressures that you're talking about. How do we think about that material now that's coming to resources and reserves? I think our resource and reserve numbers are calculated basis the $1,450 an ounce. That should still stay in reserves and should be in reserves. I think, you know, we are doing the study, but prudently, I think it's right in this current environment to defer a decision to commit to that capital. You know, we're not confident that given the number of capital projects that are being undertaken in Western Australia, that the pricing or the deliverability of a project like a Mungari mill expansion can be done on the basis of a pricing which is historic. I think, you know, we are gonna do the study. It does still look like the best option for the operation, but it is only prudent to do it once the heat has come out of the capital cost items. Okay. Yeah. My final question. I think the last three outlook, you had Cowal trending to 350,000 ounces in 2024 from Stage H in the underground. Is the outlook now a little bit softer at Cowal in 2024, or is that? We've just been a bit more conservative in the ramp up. Of the underground rather than- Yes, from the underground. - Yeah. Okay. Thank you. Thanks. Thank you. Your next question comes from Mitch Ryan from Jefferies. Please go ahead. Thank you. Good morning, Jake and Lawrie. I'm just trying to get clarification. You know, more recently you've been talking about Red Lake, the potential to get up to 350,000 ounces. In your comments today, you've said repeatedly 300,000 ounces. Is that a change to your thinking, or have I misunderstood that? No, it's not a change to our thinking. It's Mitch, we're really just trying to be more conservative in the outlook. It's Red Lake has the potential and our ambition is to produce 350,000 ounces. Okay. You're just okay being a bit more conservative in the guidance. Okay. Thank you. Yeah. If I could, when I'm looking at slide five and maybe it's the quality of the document or the pixelation. There appears to be some FY 2023 stopes at the minus 200 RL, so coming through in 2023. That seems like a lot of vertical development if I'm seeing that correctly, and goes past the 2024 sort of stopes. One, you know, am I seeing that correctly? Two, can you talk me through the rationale for that if that is the case? Bob's here, so I'll let him answer that question. You wanna answer that? Sorry, Mitch. You're looking at slide five? Yes, that's correct. The Upper Campbell development. It looks like there's some green FY 2023 stopes at roughly the minus 200 RL. Yep. If I'm reading it correctly, that they would be coming through in 2023. I'm just wondering that appears like quite a lot of vertical development to get to those stopes. The stopes in 2023, the blue on that picture is actual, as built, so it's currently installed, that blue decline. The pink is actually new decline. FY 2023 stopes are basically around the area that we're at. FY 2024 stopes By the end of FY 2023, the plan is to actually have the decline broken through to 14 level. That's why that, those yellows start to come in. Yeah, no. In the document that I'm looking at, then that's fine. Yeah, I can see that they're built to sort of the 200 RL. You go to the 0 RL, and that's where your 24 stopes are. If I keep going down to the 200 RL and step out to the right, there's a couple of little green stopes in there in the pixelated version that I'm seeing. I'm just wondering. I must be. Anyway, we'll take it offline. It's kind of not relevant. Yeah, Mitch, I'd have to get back to you. Okay, my last question then is just, you know, all of the pressures that you've seen and related to, you know, labor availability, wage pressures, supply chain, and that have sort of seen you take a more conservative view on guidance for 2023 and 2024, what component of those do you continue to or expect to continue in that new revised guidance? Yeah. Is this the last one? Yeah. Mitch, as I outlined on the cost inflation, you know, we've seen labor. We're expecting 4%-6% in 2023, likely to flow through into 2024. In terms of diesel and power, you know, it will depend on where we end up contracting rates for our Australian operations outside of Ernest Henry. The diesel's gonna really be predominantly driven by the barrel price. What we obviously need to see is how they move in the coming periods. If we look at FY 2023, our cost base on gross spend in our all-in sustaining cost versus FY 2022, we've estimated the impact is around 7.5%, inflationary impact cost increase. If you were to do that on a like for like, that is taking Ernest Henry 100% ownership for the full year, having 100% of the operating cost as well for the full year. We estimate that it's around a 10% movement, 2023 over 2022, and then a lesser amount would flow into 2024. Thank you. I appreciate the color. I'll hand it on. Thank you. Your next question comes from David Radcliffe from Global Mining Research. Please go ahead. Hi. Good morning, Jake and team. My question's back on Mungari, and if you could just provide some more color on the guidance for 2023, 2024. If we look back, the guidance seems to be just above the additional ounces from the acquisition of Kundana. Trying to sort of understand a little bit where the ounces are coming from over this period. Is it just the new ounces acquired from Kundana? Because the old business was relatively mature. Sure. We had, you know, production sort of come from those areas. Maybe if you could provide some color, that'd be great. Yeah, sure. David, the mill is full. Frog's Leg is starting to reach the end of its life, and we always knew that. Hence, we were really keen to acquire the Kundana and East Kundana properties. The material is largely coming from Kundana. Remember that we only own 51% of the ounces that come from the East Kundana joint venture. The total ounces produced by the mill are about 145,000 ounces-150,000 ounces. The portion, the 25,000 ounces or thereabout, 20,000 ounces-25,000 ounces come from the EKJV, which is the 49% partner. In total, you're producing around 150,000 ounces of which are attributable to us is 127,000 ounces. Okay. Thanks. Then maybe just a quick one then on Ernest Henry. There's that sort of throwaway comment there about the mineralization zone maybe being broader. Could you sort of expand on that? Are you thinking now that maybe this will give you the opportunity to obviously increase the inventory as you're targeting, but maybe fill the mill eventually? Glenn unfortunately has actually tested positive for COVID this morning and isn't here. I'll use my best geological knowledge to try and explain it. I mean, look, we've got 42,000 meters. People are very positive and optimistic that you will see an upgrade to that resource. It's still going through its checking and rechecking. What we're seeing is that there is good continuity of grade. There is some expansion to the mineralized envelope. These surface rigs, which Glenn has explained to me, basically hit the ore body at a better angle are gonna give us a much better understanding of the real depth potential. Very encouraging from the 42,000 meters that is assayed and really largely gonna be used for this update we're gonna give in a couple of months. The surface rigs visual inspection suggests that the ore body is wider and well mineralized at depth. Okay. Thank you. I'll pass it on. Thank you. Your next question comes from Alexander Barkley from RBC. Please go ahead. All right. Thanks. Morning, everyone. Just the first question at Cowal, on that FY 2024 guidance downgrade. You said underground's on schedule and Give sort of 1.3 million tons expected versus past guidance of over 1 million, Stage H ore, the tons and the grade both on schedule. Just trying to work out exactly where the downgrade came from, given that commentary. You probably needed to mine the open pit, sort of well above its reserve grade, as you probably would need to do in the subsequent years. Maybe not quite as much with the underground going. Should we be thinking a little bit softer than 350,000 ounces per annum going forward in the few years after that as well? Thanks. No, I don't think so. I think it all again relates to where we're mining in the ore body. We've given you the breakdown of the development ore and the stoping ore. Development ore is lower grade than the stoping ore. Then that early stage stoping ore is coming from the areas where we have developed to, and it is slightly lower than the reserve grade. You know, we're very happy with the overall global reserve grade, but it is gonna depend on location of our development. You know, having now put in the more detailed planning and the more detailed infill drilling, that's where we feel comfortable with. As I say, we have been a bit more conservative in the ramp-up. We do have better knowledge of the ore body, but are confident that there is no downgrade to the long-term outlook at Cowal. Yeah. Okay. I'm comfortable with, you know, there's gonna be some variability and learning underground. Has there been any changes to the open pit? Because you probably did need higher than that reserve grade in FY 2024. That's no changes, still on plan, and No, no. You can still mine. Yeah. Okay. No changes. Any changes has been related to the location of where we're mining from the underground. Okay. The mix of development ore to stoping ore. Okay. Just another one on Red Lake. It actually seems like you're doing quite well with the physical metrics. You said Upper Campbell's on schedule. Again, sort of 50,000 ounces down FY 2024. Is there sort of a blow to grades in that year or modifying factors or something? It seems like your tonnages and everything you've done at the mine has been okay. Yeah, pretty good. I'm just trying to work out exactly why the downgrade then. Well, we said we'd reached, you know, we said after three years we'd reach 200,000 ounces a year. We are 12 months later, now what we're saying is, you know, 160,000 ounces. Remember, this comes off the base of 20,000 ounces in the September quarter, 20,000 ounces in the December quarter, 33,000 ounces in the March quarter, now 38,000 ounces. You are absolutely right. We are making the progress we need to make to deliver. We are 12 months later, but the outlook is not any different to what we expected other than being 12 months delayed, essentially. Okay. Just a last quick one. You've got a copper price at AUD 12,500. Just confirming if you used AUD 11,000 in FY 2023/FY 2024 previously? Yes, we did. That's what I. Previous ones were those. That's what I've come up. What you Yeah. What you're seeing there is the change is that we had Ernest Henry copper at a higher rate than what is actually gonna be achieved in 2023 and 2024, and they're almost essentially negating each other at the moment. The going from 11,000 tons- 12,500 tons, and going from 60,000 tons back to the 55,000 tons and 52,000 tons is what's driving. They're negating each other. Yeah. Okay. All right. Thanks very much, guys. Thanks. Thank you. Once again, if you wish to ask a question, please press star one on your telephone. Your next question comes from Daniel Morgan, from Barrenjoey. Please go ahead. Hi, Jake and Tim. First question, just on the power, clearly that's been one of the cost pressures you've been experiencing. Can you just run through in greater detail how you are thinking about recontracting the power, which I believe is up, the power contract's up at the end of this year, and whether there's anything you can do to shave your contract, i.e., solar projects or other? Thank you. Yeah. Dan, look, we've got a number of options that the supply team are looking at for those contracts. I mean, in the last month, you really haven't been able to do anything. What we're looking at is, you know, how long a term of the contract is it? Is there a better option around shorter term contract to wait for, hopefully, the price to come down? Then you're also looking at security. The team's assessing that, yeah, every day. We haven't landed on where we're going in terms of timing into the market. In terms of the renewable space, you know, we have looked at all of those. There's not sufficient enough out there that would make a material impact on our costs that we could get security of supply into particularly the biggest one is Cowal. At the moment, we're not envisaging any renewable piece coming into this contract term, which would be only for a two-year period anyway at the maximum. Have you outlined what you've implicitly put in your guidance for what this power contract will be? Obviously, it's a big step up, but have you factored some number in that you're willing to share? Yeah. What we've shown there is the average on that slide, Daniel, and that's the basis on which we formed our outlook for 2023 and 2024. Understood. Given the very high cost environment, can you outline what you're doing on exploration? Thank you. I mean, there's no real material change to our spend. It'll be about AUD 65 million in 2023 that we'll spend in the exploration area, which is a mix of both regional and near mine exploration. We'll give the breakdown at the results period. Daniel. Thank you. On the Bateman mill, it looks like you've pushed out bringing that back online. What does that mean for group milling at Red Lake? You know, what is your milling capacity gonna be with it in and without? What are your production outcomes with it in and out, and timing? Thank you. The outlook on the production that's in the presentation today is based on the Campbell mill and the Red Lake mill operating through both of those years, which will give us, you know, 1 million tons-1.1 million tons processing capacity. As the Bateman mill comes on, that would step up to about 1.7 million tons, ultimately going to 2 million tons once the plant expansion is done. As I said on the call, the timing of when that happens will be dependent on the outcomes of the study and when's the right time to execute it. Okay. Thank you very much. Thank you. There are no further questions at this time. I'll now hand back to Mr. Klein for closing remarks. Thanks, Harmony. Thanks, everyone. Appreciate it's been a tough day for you as shareholders and, you know, all of us as shareholders over here as well. You know, I only wanna leave you with the message that we are determined to address the issues that have led to underperformance over the last 12 months. We have a good portfolio, we have a strong balance sheet, and are confident of our future. Look forward to speaking to you when we release our results in August. Thanks.