Thank you, Kayleigh, and good morning, everyone. I'm joined on the call today by Matt O'Neill, our Chief Operating Officer, and Peter O'Connor, our GM, Investor Relations. Today, we released our FY 2025 full-year financial results, and an excellent set of results they are, with many new records established and increased returns for our shareholders. These results were achieved through the efforts of our employees and contractors, who I sincerely thank for their contribution during the year. To release our financial results today has also taken many long hours by the Finance and Investor Relations team, so an extra special thanks to them. I'll be talking to the presentation we released on the ASX this morning. Slide 3 summarizes well the benefits of safely delivering to guidance, maintaining a strong cost and capital discipline, and banking the cash in a high middle-price environment. Our statutory profit was up 119% to AUD 926 million, and our underlying profit doubled to AUD 958 million. Our earnings per share, or AUD 0.46 per share, was up 111%. All of these are records. EBITDA, or operating cash flow, was also a record at AUD 2.2 billion, at a very strong margin of 51%. Our group cash flow, of nearly AUD 800 million, was a record, and an improvement of 114% on last year against only a 35% increase in the gold price. With the improvement in cash flows and the balance sheet position, we have today announced a final dividend of AUD 0.13 per share, fully franked, which is about 3x last year's dividend. Therefore, our shareholders are benefiting from the quality of our portfolio, including the successful progressing of key projects at Mungari and Cowal, which enable us to sustain these types of returns. I remind you that these record results have been delivered at an achieved gold price that was AUD 800 per ounce below the spot price, which is very promising for FY 2026. Moving to slide 4, we've said this for many years now that sustainability is integrated into everything we do, and the results in FY 2025 show that this work is paying off. Our TRIF of 5 improved 35% over the prior year and reached its lowest point, meaning we delivered our plan with a strong focus on safety. We are tracking well on our Net Zero commitment. We are now over halfway towards our 30% reduction by 2030 at 16%. We're also making sure that the communities where we operate are benefiting from our presence and our success through the delivery of at least six high-impact community projects over the last year. Turning to slide 5, and this is probably one of the best slides in the deck, we're continuing to demonstrate that our margin over ounces approach is working with high margins at all levels, be that EBITDA, operating mine cash flow, net mine cash flow, and group cash flow. The chart on the top right shows that we are banking the upside of the high price achieved last year, with a margin ranging from AUD 1,050- AUD 3,050 per ounce. As I said earlier, these were all delivered at an achieved price that was AUD 800 per ounce below the current spot. Every AUD 100 per ounce equates to AUD 70 million- AUD 80 million additional cash flow, and remember that 50% of this goes to shareholders per our dividend policy. Importantly, our portfolio is delivering great cash margins with an EBITDA margin ranging from 37%- 64% and the group average of 51%. Some highlights for the year included our Cowal operation generating AUD 885 million. Northparkes has delivered AUD 182 million of net cash in the first 18 months of ownership, while Red Lake had a full-year net positive cash flow of AUD 74 million. Most importantly, with an average mine life of 18 years and a sector-leading cost position, we can sustain these margins and cash flows over the long term. To slide 6, we said last year, as our gearing improved from 33% to 25%, we would start increasing our returns to shareholders. We have met that commitment. Our 25th consecutive dividend of AUD 0.13 per share, fully franked, is a record, as is the full-year dividend of AUD 0.20 per share. Both are about 3x last year's dividend. It equates to about AUD 400 million, which is approximately 32% of the total of all dividends up to 2024 being paid in one year. The DRP will be available for this dividend. Our balance sheet is in excellent shape, with our investment-grade rating reaffirmed last month in the normal annual review process. Our record financial performance improved our gearing to 15%, and we are back into the normal operating gearing range. We should remember that our gearing was 25% at the start of the year, which means we have improved by 10 percentage points or reduced it by 40%. We are basically unhedged, meaning we benefit from the current spot price, and then with our low-cost position, we can adequately withstand a drop in the gold price. Moving to guidance on slide 7, our group guidance was previously announced last month. Today, we have provided detailed guidance by operations, and this is contained in the appendix of the presentation pack. As I said last month, FY 2026 is expected to be similar to FY 2025, where we are planning to safely deliver high-margin, significant cash flow. I'm not going to go through the details again, but do want to reiterate a few things. Our all-in sustaining cost will see us remain as one of the lowest cost producers in the sector, and we continue to control our costs. Our group capital investment will be around AUD 200 million and AUD 100 million lower than our FY 2025 investment at the midpoint and top end of guidance, respectively. We continue to have discipline in sequencing our capital projects. Our five-year planned total capital investment remains unchanged at AUD 750 million- AUD 950 million per ounce. However, the most important thing I want to highlight on this slide is the cash flow opportunity. At the midpoint of guidance and at the current spot price, we would generate over AUD 2.75 billion and AUD 2.5 billion of operating mine cash flow and mine cash flow before major capital, respectively. This is about 20% higher than FY 2025, and remember, our shareholders would receive half of that extra AUD 500 million cash flow in dividends over and above the AUD 400 million that we declared for FY 2025. I think it is very clear that we are ensuring our shareholders are going to benefit from this cycle. Finally, on slide 8, I just talked about the rewards we're able to provide for our shareholders. This is because of our continued focus on safe and reliable delivery to plan, margin over ounces, and making sure the cash from the higher middle prices hit the bank account. By doing that, we've declared dividends that are 3x last year's dividend. We have a balance sheet with far greater flexibility, but with the overarching discipline of sequencing the multiple growth projects appropriately. Lastly, though, we are going to be able to sustain this for many years, given we have an 18-year mine life from a high-margin portfolio of assets. With that, Kayleigh, please 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 are on a speakerphone, please pick up the handset to ask your question. Your first question comes from Kate McCutcheon with Citi. Morning, Lawrie and Matt. Congrats on the results, and we like a concise lot of opening comments. Can I just narrow in on FY 2026 guidance at Northparkes, please? Can you just talk through the moving pieces for the lower gold production? You've got the open cuts that's ended, E48 sub-level cave coming this half. Is the lower gold a function of deliberate mine scheduling to maximize copper, and how do we think about that profile looking ahead? Thanks, Kate. I'll give Matt the opportunity to speak on the call, but I'll just open it by saying that the lower gold production is linked predominantly to E31, and that is that there were two pits there. The gold dominant one was mainly processed in 2025, and then the stockpiles, which will be the lower grade, will come through in 2026, and it won't be for the full year. Matt, do you want to just talk about the other mining areas going forward? Yeah, I mean, like you said, that's the driver of the gold production. We still are finishing off the E26 area, and the E48 sub-level cave comes online. The gold production is just really a sequence in that mining operation. It's not a conscious process at this stage in terms of trying to do that, but that's where it sits, and then we'll work out what goes forward from there. Okay, cool. A similar question on Ernest Henry, I guess. Is that production lower a function of tons because of where you are in the cave this year, or is it grade, or how much do you expect to pull up from the 6.5 million ton per annum shaft this year? Yep. Do you want me to cover that one off, Lawrie? Yeah, Matt. Yeah, the difference is that it's a function of grade, not volume. The drive there is there's a section of the cave that we're working through that's got a barren part in it, and obviously in the cave you need to pull all of that. It's just purely grade that's driving that variance at this stage. Okay. It comes back as we come back over the next couple of years as well. It's not a permanent thing. It's just that when we work through those levels, we pull that through. Thank you. Just finally, the debt, the AUD 280 million of term debt that you've got left, what's the appetite to repay that early given the free cash, or how do you think about that? I'll take that one, Matt. Kate, the appetite there is strong. I mean, we've demonstrated that we're balancing investing in the business, paying down debt, and increasing dividends. You should expect that we'll continue to reduce that. Okay. Thank you. Your next question comes from Hugo Nicolaci with Goldman Sachs. Morning, Lawrie, Matt, and Rocky. Congrats on a strong FY 2025 and all the records that you've set. First one from me, just looking at the major projects Ben, you've outlined for tailings storage facilities, vent raises, and that sort of thing. Maybe just across the group, can you call out which of those major projects wrap up in FY 2026 and what we should expect continues on into FY 2027 and beyond? Yeah, Hugo, if I look at it, those ones, the Northparkes one will be over a couple of years. Ernest Henry will also be over a couple of years, and the metals work and tailings at Red Lake are more in FY 2026 and a little bit in FY 2027. Got it. That's helpful, Lawrie. Just one on exploration. I think you noted at the site visit Mungari is getting the largest share, but what is the group exploration budget for FY 2026? I'll come back to you through Rocky, but my view, thanks, remembrance is that it's around AUD 75 million for the year. Do you expect that to sort of stay at that level going forward as you sort of drill out some more of these projects and firm up studies and things? Yeah, I think if we look at it at Mungari, you know, and from the previous site visits, people would understand the underground, you've got to keep reinvesting every year to have that incremental growth. I think you won't see much of a change there. When we look similarly at Red Lake, it's very much like Mungari where you've got to keep that drilling going. At Cowal and Ernest Henry, it's really going to be based on where we are in the mines, particularly the underground, whereas at Northparkes, I think it'll just be constant every year there. Got it. I can squeeze in one more, a similar line of questioning to Kate's around early debt repayments. You've also got the stream there. Is that something you'd consider consolidating back in as well and simplifying that arrangement at Northparkes? No, I think if you look at it for Triple Flag, it's one of their most valuable streams, and it's not something that we'd look to bring into there. I think we'll continue to work as we have with them collaboratively about what role the stream has in what we do with that operation and where we mine and what role they've got to play. Excellent. Thanks for that, Lawrie. One more time. Your next question comes from Al Harvey with JPMorgan. Yeah, morning team. Another one on Northparkes. I suppose we are heading towards completion of the hybrid study in coming months. Are you guys able to put a timeframe on that? I suppose just how you're thinking about the gold copper trade-off from going for a block cave versus sub-level cave, and then just a bit of a refresher on how much of either scenario is incorporated into your AUD 750 million- AUD 950 million CapEx guidance over the next five years? Thanks, Al. Good to see we've moved to looking forward and the financial results. E22, look, the study's finished. We're discussing that with the Board now in the coming months, and when we've made a decision or anything on that, we'll let the market know. In terms of our capital guidance of AUD 750 million- AUD 950 million, we've allowed for that to be as a block cave per the feasibility study that finished last year, and that hasn't changed at this point. You know that is because it allows for the higher capital intensity into our forecasting. Great. Thanks, Lawrie. Apologies then. Another forward-looking one, just with Mt Rawdon, low-grade stocks. Any help here on the throughput rate? Is that front-end loaded? Also, if you've got any guide on when the ounces that might come out of a pump hydro cutback would flow through? I mean, it's a fair bit longer dated, just trying to get a steer here. Yeah, Jake, I'll be very glad that you asked about pumped hydro. The second one, you know that's a few years off, and it really relates to the work that Jake and the team are doing with the Queensland government around a solution for that project, which is advancing well with the government. We expect that to sort of come to fruition in this financial year in terms of an outcome. In terms of this year, I mean, as you see in the guidance range, it's not a lot of production. That'll run through probably until Q3, and it'll just be consistent rates through till Q3. All right. Thanks, Lawrie. Your next question comes from Matthew Frydman with MST Financial. Sure, thanks. Morning, Lawrie and team. A couple of questions. I might firstly continue on Al's questions on Mt Rawdon. Can you give us a bit more of a steer on, I guess, what the all-in sustaining cost for that asset looks like through FY 2026, I guess, given that it's excluded from FY 2026 guidance? Maybe making a comment on, obviously, all-in sustaining cost is one thing, but presumably there's a lot of inventory charging there, so what the actual sort of cash cost might look like. Also on timing, I mean, is there kind of an end date for the operation there? Any care and maintenance costs that we should consider beyond that? Thanks. Yeah, Matt. Look, firstly, Mt Rawdon is not going to be deemed as a continuing operation for us. We're not actually reporting the all-in sustaining cost because it's going to be extremely high, and it should not impact on the group AISC because it's using low-grade stockpiles and then your M&A asset in one year. I'm not going to give you a number on that because we won't be reporting it. What I can say is that the cash contribution out of it, given it is all non-cash, on 15,000- 20,000 ounces, you should expect that it'll probably make about AUD 1,000 an ounce based on our guidance assumption price, and that will be pretty steady throughout the year. In terms of closure and rehab, we'll do a little bit in the back end of this year, but not a lot, and it'll be in the future years in terms of that. What I would say around that is that is very much linked to the pumped hydro because as a part of the agreement, we're working with the government. Those closure and rehab costs would be covered by the proceeds we'd receive for selling the pumped hydro project. Yeah, understand. Okay, thanks for that, Lawrie. Thanks for the sort of steer on the cash margins there. Obviously, the risk is that analysts put the revenues from your production guidance in there, but not put any sort of cash costs associated with that production as well. That's quite helpful. Thank you for that. The second question, maybe looking at slide seven. A big kind of theme in the presentation today, which is understandable, is the cash generation that you're expecting in FY 2026. Clearly, on slide seven there, even if we back out growth CapEx and the corporate and central costs that aren't necessarily included in those bars, there is very significant cash generation to expect in FY 2026 and no debt repayments. I guess the question is that even if you return half of that through a dividend, the cash position is still going to clearly increase significantly. I'm really trying to understand the rationale that drives the capital management decisions in the business. Firstly, where do you see cash as being excess to your reinvestment needs, given the context of that cash generation that you're expecting? How do you weigh up the attractiveness of using that excess cash to repay debt, relatively low-cost debt, which you've highlighted as a priority compared to doing a buyback? Why isn't a buyback attractive, but a discounted BRP and repaying relatively low-cost debt is attractive? Thanks. Yeah, Matt, the question in short was what's our capital management plan? Is that what you're saying? I understand that clearly you're saying that you're going to prioritize repaying debt and that a 50% dividend is attractive, but I'm just trying to understand where you see that cash as being excess to needs and why other options aren't more attractive than repaying that debt. Thanks. Sorry, Matt. I sort of kept going. It was rhetorical. The focus is on that term debt facilities because it is our highest-cost debt. We'll continue to pay that. When we look at it as the USPPs come in and you can't prepay those, we've got one large lump sum that's due in FY 2028. We've got to make sure that no matter what the gold price is, we meet that repayment. We always take that into consideration. We also make sure that we've got adequate cash for if we have any issues similar to, say, the Ernest Henry outage we had a couple of years ago. That's why we always want to make sure we've got that buffer. We also want to make sure that we don't have to halt any of these projects as they get approved to go into execution because we want to make sure that Cowal OPC, AUD 430 million over the next seven years, is actually able to run unhindered by what's going on with the balance sheet. Therefore, we still believe that 50% of our cash flow back to shareholders is well liked by the shareholders. As I said earlier on the call, we want to make sure that through this high-price cycle, that cash does flow back to them. We're able to invest in the business at the same time so that the shareholders are going to see that this is sustainable through our 18-year mine life. If the gold price stays at AUD 5,100 for the next 12 months, it's a good problem for us to have when we're sitting down with the Board in six and 12 months' time. What's the next thing we do in terms of our capital management? Right now, we're not changing from that position of reinvest for the growth, pay off the debt, and return 50% to shareholders. Understand. Thanks, Lawrie. That's pretty clear. Cheers. Your next question comes from Daniel Morgan with Barrenjoey. Hi, Lawrie, Matt, Rocky. My question relates to Cowal and guidance. Might seem small, but I think Cowal is a little bit better on the production of the guidance than I think many had thought, maybe perhaps yourself, a few months ago. Can we just talk about what you're seeing at Cowal regarding the stage H cutback, how that interplays with grade sequencing through the year? You know, is it slightly better than your expectations maybe a few months ago? Thank you. Thanks, Dan. I will hand to Matt, other than to say that, you know, it's not really on the grade expectations. I think, you know, as we finished the year, we did well, both from the open pit and the underground, and that gave us a good outcome. I think as we go into this year, we expect the Stage H into the March quarter, so probably a little bit longer. Matt, do you want to maybe talk through Stage H into the cutback to Stage I, stockpiles, and the underground? Yeah, no, that's fine. I think what Lawrie just noted there, Dan, compared to maybe some of the early conversations, Stage H is performing a little better for us. It will run through into that quarter, and you'll see a little bit extra above on that. The other items in terms of stockpile, when we start to draw down on that after Stage H and then the underground, are all pretty much in line, I think, with where we thought they'd be. Underground has come up well and continues to do that. It's going to be a focus for us this year and over the future. It's where I think we can see some growth. That's probably the key focus for us there. In terms of variance to where you thought it might be, that's probably the only one is that the Stage H has performed a little better over the back half of 2025, and we expect that, like we said, to run through until March quarter. Just drawing a little bit more on that, I imagine that you'll be mining more than you can process on Stage H during the first nine months of this year. You'll have some high-grade stockpiles generated during that period, which you'll unwind in perhaps the next couple of quarters after that. Is that a fair summation? A lot of the high-grade stockpiles, again, in relative terms, but we do put the high-grade through first, and then we'll work through the stockpiles after that. We will be working through those stockpiles, and like you'll see, you'll run those for three quarters, maybe a bit longer, actually, after that. Yeah, Dan, the short answer there is that highest-grade material will go through the plant this year. We are not going to leave it on the ground as we finish Stage H and draw down the stockpiles. Whatever comes out of Stage H will end up predominantly through the plant this year. The highest grade will go first. Yeah. That is what's driving the all-in sustaining cost for the year. Thank you. Last question, just anything lumpy to note in your guidance through the year? I mean, obviously, you had a major shot at Cowal last year, which was sort of struggled that March-April period. Is there anything material that you'd like to call out that maybe people should think about on just sequencing grade or shots or anything through the year? Thank you. Matt, do you want to just touch on the key shutdowns? I don't think there's anything material other than that. Have I lost you, Matt? My apologies. Yep. I still had my button pressed on mute in front of me. No, there's nothing that's materially lumpy. The normal shutdown process is every couple of months at the different plants. Probably one of the bigger items might be the Red Lake Tail Treatment Plant, and that's largely in the first quarter of this year. Outside of that, there's nothing that stands out. Cowal OPC will continue as per normal through the course of the year. Northparkes, we've got a couple of tailings lifts in terms of the infill, but again, it should be relatively steady. Mungari would be the same, Castle Hill and the normal bits and pieces. No, nothing hugely lumpy there. Yes. Okay. The only thing just to take there, Dan, is the second half of the year, Mungari is when it ramps to the AUD 200 million You see a pickup there, and you obviously see some slightly lower at, you know, say, Cowal and certainly at Northparkes as they finish processing the E31 material. That's the only sort of thing you'd see second half versus first half. When we look at a quarter on quarter at a group level, there's not going to be a lot of variability. Very clear. Thank you very much, Lawrie, Matt, team. Your next question comes from Andrew Bowler with Macquarie. Hi, Al. I think you've answered most of the operational questions I had. Maybe just move into some financial ones. I noted you might have taken some notice. Just sort of looking at your guidance for DNA for FY 2026, up a little bit on a per ounce basis from last year. Can you just give us a bit of an indication as to where that will be for the next few years? Is that something you expect to be up at around AUD 1,000 an ounce for the next few years, or is there, you know, a roll-off expected to take place in terms of DNA? Thanks, Andrew. My answer to that is it would be good that we can continue to grow the resource base and therefore you amortize it over a longer period. That will be the one key driver to it. I think what you're seeing there is you've got the higher rates at Red Lake and Northparkes. I think as we can grow the resource base, it will come down. I don't see it changing until that's in place. There's nothing else that's going to drive the DNA profile more than that. No worries. That's all from me. Thanks, guys. Your next question comes from Baden Moore with CLSA. Oh, good morning, everyone. Thanks for the great results. I just noticed a lot of questions from the sector around or investors on cost inflation. You've highlighted you've managed to control costs to sort of 4%. I was wondering if you had any comments on how you see costs moving more broadly in the global sector, whether you're sort of how much you think you're outperforming or what are the key drivers from that perspective. Just a second one would be just around your growth CapEx pipeline. I mean, you've got a lot of cash coming in. Do you think your plate's full in terms of your CapEx pipeline from an organic perspective at this point? Thanks, Baden. In terms of cost inflation, I think, yeah, when we look at it, labor's 50% of our cost base. We've got assets on the East Coast of Australia, West Coast, and Canada, and they are a little bit different in terms of what's happening in the market. Overall, we'll see that moving, you know, 3.5%, 4.5%, and it's 50% of our cost base. What will happen in the next one to two years after this year is going to depend on where inflation is in each of the economies and what is happening in terms of demand in the industry. We believe that that is about right. I mean, our focus is heavily on the variable components, so we're able to keep it within a tight band that's linked to the inflation rates. There are other costs. We've seen some costs coming down in the last few months, but we're certainly seeing other costs keeping at or below CPI. Our expectations, you know, 4% this year, it was 5% last year on our operating costs. We would see it's probably going to be, you know, around the 3%- 4% for the next couple of years, and our focus is more around productivity. In terms of the CapEx, yes, we've got the capacity. Yes, the prices are holding up. I think our projects are well sequenced, and that AUD 750 million- AUD 950 million isn't changed. As Mungari's just finished, Cowal will ramp up. Next year, we've got a decision on Northparkes. Those projects are more around when we need to do them, not just because we've got the money, and that's going to be the discipline we keep applying to it. Thank you. Your next question comes from David Coates with Bell Potter Securities. Hi, good morning. Lawrie and team, thanks for the presentation. Congratulations on the considered results and punchy divvy. Speaking of capital management, it's a bit of a philosophical question, but maybe an opportunity to, I guess, sort of reinforce that message a bit. We're seeing some of your peers are lowering cut-off grades to extend mine lives or increase production, but potentially sacrifice some margins. Have you guys kind of considered that sort of temptation, I guess, in the higher gold price environment? Yeah, look, for us, that's not something that we heavily focus on, Dave. I mean, we've lifted our MROR pricing this year in line with what's happened with inflation and the capital that's needed to bring those ounces on. Other than that, at AUD 2,500 an ounce and spot's AUD 5,000+, we're not doing that. As we mine out areas, certainly we'll take material that if it's economic right now and put that through, but we're not really changing dramatically our mine plans just because of where the price is today. Is that really just sort of that focus on maintaining margins that you've sort of talked about a couple of times or quite a bit on the call? Yeah, I think that's right, Dave. If we look at it over the last 10 years, we've been able to outperform our peers in terms of margin year in, year out, and that's going to be maintained going forward. Excellent. Thanks very much, Lawrie. Thanks, Dave. There are no further questions at this time. I'll now hand back to Mr. Conway for closing remarks. Thank you, Hayley, and thank you everyone for joining us on the call today. We're very pleased to have delivered an excellent set of results for FY 2025 and set about doing the same, but at a higher gold price, delivering more cash this year and doing it safely. Thank you for your time. That does conclude our conference for today. Thank you for participating. You may now disconnect.