Welcome back, everyone. Next, we have an update from Star Gold Corp., trades on the OTCQB under the ticker SRGZ. It is an emerging precious metals exploration and development company focused on advancing its flagship Longstreet Gold-Silver Project in Nye County, Nevada. Happy to welcome Chairman and CEO, Lindsay Gorrill. Nice to see you, Lindsay. We are looking forward to your update today. Thanks, Anna. Great to see you again. As everybody knows, we have done a couple of these presentations this year, and I wanted to provide you an update, where we are and where we are going. I think what I thought was critical first was because I also do a lot of investing in junior mining companies, and I am the largest shareholder and investor in this company, and I always want to look at, so what we look at before you invest in a mining company, there are five things I always look at. Then we will talk about what we have accomplished so far this year and where we are and what the next six months will look like. I think the critical thing is that we look at any mining company, the first thing you say to yourself, "Is there a mineable resource?" So is there enough gold, silver, or whatever they are mining, mineable? Obviously for Star Gold, the answer is yes. We have 132 ounces of gold on top of one of our hills and about 4.8 million ounces of silver. So that checks off number one. Number two is then you say, "Is it economic?" Because it does not matter what they have there, can they produce it economically? In our situation, yes, we came up with a new economic assessment in September, end of September this year, at $4,000 gold, it drives about $122 million in net present value, 5% discount, which is basically four times our current market price. So yeah, it is economic. Next, also as important as the other two is it permittable? So can you actually get a permit to go to production? Are there any issues on site like any burial grounds, water issues, species issues? In our case, it is permittable. We have no issues. Talk a little about that. The fourth thing is the person who is presenting to you, are they an investor? Are we invested? Well, the answer is yes. So 22% of the company is owned by insiders. We did a financing earlier this year, and we took up about $700,000 of the $3 million financing, so I personally put in about $600,000 of that. So I think those are the four critical things though, that you need to look at. Really important. For our side, as the insiders, we are invested just like you. Our shares are also common, so we're all in the same boat. The goal for us is to increase the value of the shares. Last thing, is there growth? What we have today is set, but do we have bigger growth? Obviously we do because we have 98% of our property has not been drilled. Just to put back into clear perspective on the economics, basically at 213,000 ounces of equivalent gold on top of the one main hill, it creates about $225 million of net cash over four years at $4,000 gold. Our capital cost to build is $70 million, so an NPV of $122 million. Our operating cash flow is about $1,600 an ounce all-in cash flow with sustaining capital is about $1,700 per cash flow. If you look at the numbers, in our second year of production, we created about $81 million of cash, which is more than the actual capital needed to build this. So we're in a pretty good shape on the economics and the paybacks, et cetera. Next thing. Where are we on the development status of the property? First, we got an updated resource analysis done as of December 2025, the S-K 1300. We filed for a plan of operations on the Forest Service and BLM to do the work we have to do to get done to file our actual mining permit. That's been ongoing now this month. I'll talk about that a little bit later. We have an updated economic assessment that came out last month, and now we're heading full speed ahead to file our production permit in the first quarter next year, and then after that would be construction and first production. During this whole time, all the studies have been done. We have a news release out yesterday that secured water rights. What's also important is water. We actually have acquired over 300% of the water that we need for our first leach pad. Obviously the whole purpose of this thing is go into production with the current mine plan, grow it, and we have enough water to sustain 300% growth in the future. Next, I talked about on the slide, expansion. Is there an expansion capability? If you look at our current resource block, we have about 2,600 acres of property all within one area. When you look at that gold piece tied together, that shows Main, North, Red Knob, and Cyprus Ridge, we believe that's one zone, one contiguous zone. When we got the property, Main had a bunch of work done in the mid-'80s that shows there's a big oxidized ore body on site, which means oxidized means simple production. Blast, crush, leach pad, 20 days later, we have 80% of our gold in a carbon. We did all the work on Main to prove a resource to go to production. But if you look at Cyprus Ridge, Red Knob, and North, all three have higher grades on surface. What we know is that we have an ore body on Main that's further to depth than what our pit is. We know that North, we did three holes there, and it has ore body to depth. We have high-grade surface ore, gold and silver on Cyprus, Main, Red Knob, and North. The fundraising we are doing now, a lot of the money is going to drill the three other properties to expand our resource and prove this is one contiguous ore body. Next, let's look at our accomplishments. In the year, we have done a lot this year. This is just some of them. The first thing is obviously we had our plan of operations approved by the Forest Service that allowed us to do all the work we have to do to get to our permit and final production. Second, we also got approval to build a road, which is important to get road access, and that was done in May 2026. Our next step was with the Bureau of Land Management to get approval to do work on the BLM property that you see. When you look at the picture to the left, all the stuff in the light brown on the pediment is BLM land, and the mine and road above it is on Forest Service land. We are dealing with both agencies on this. Next thing we needed to do was complete an economic assessment. That was done in September. We also did something, we did our first ever induced polarization, which is pretty exciting. It is basically a test on the ground magnetics to see where the ore may sit. We did 400 acres of area, and we should be getting back our results pretty soon and hopefully releasing those in the next month. We think that will show that this has more targets outside of our current zones we are looking at, which is mainly expansion of resource. Then, of course, biological studies, species studies, archaeological studies, all been done, updated, et cetera. We are ready to file the permit. Water studies nearly completed. We have to do water studies around what kind of seeps and ponds are around, et cetera, our area. All those four main things have pretty well been completed and being put into the permit filing to go in the first quarter. Next thing is number 10, is water rights. We did a release yesterday. This is huge because having our own water rights allows us to basically get to production quicker. We also are going to drill four production wells. We think that is enough wells to produce the water. We have done two, both successful, and we have two more to drill in the next month. On top of that in number 12 is monitoring wells. You have to drill monitoring wells around the leach pad and the pit just to prove what the water looked like before you went into production. We have got two done. We have four more to go. That will also be done by the end of November. Things like mine design, heap leach design, infrastructure design is moving down the track and will be completed, again, for the first quarter for filing. What is also exciting is we have done a number of resource holes, four already. We will have some new assay results coming out next month during November, December. We think that will increase our resource, which obviously increases our value. Next six months. Next 6 months, if you want to look at what we're doing, is basically completing the design of the mine and process facilities, number 1. Number 2, results from our induced polarization, which we think will be positive. Assays from all our current drilling. We're also filing our plan of operations to drill 75 holes on the other main high-grade targets that we have inside our property. The last thing, obviously, is filing the permit to production. In finalization, why would you invest in Star Gold? I think that, number 1, permit is low risk. I believe we've a 100% chance of getting a permit. It's just time. Number 2, economically, we're a very viable economic project with high net present value and high returns. Our average operating cost is about $1,600 per gold. Obviously, the silver is free from that. All-in sustaining about $1,700. We have way more of our property to drill, and we have a lot of indicated on-surface ore bodies that we know we can target, which is our 3 high-grade targets, North, Red Knob, and Cyprus. Again, we own 22%. We're in the process right now of finalizing a $5 million financing. The use of funds is $1.5 million is remaining to finish off the permit to get the final permit. Brings us out to the end of next year. About $3.5 million of that will be used to drill out North, Red, and Cyprus to increase our resource, increase our value. Anyway, that was a quick overview to see what we're doing. Anybody have any questions or any thoughts, anything about Star Gold, please email me directly. Thank you very much. Perfect. Thank you, Lindsay. We are out of time. We do have a few questions for you. We're going to email you these questions so you can answer on your own. We thank you so much for hopping on and giving us this update, and we'd love to see you again real soon. I appreciate it. Thank you very much. Thanks, everybody. All right. You are so welcome. We will be right back. Bye-bye. Welcome back, everyone. We have an update from Route1 Inc. Trades on the TSXV under the ticker ROI and the OTCQB under ROIUF. Is an operational technology company focused on parking operations, ALPR ecosystems, operational intelligence, secure mobility, and life cycle operational engagement. Happy to welcome President and CEO, Tony Busseri. Welcome, Tony. We are looking forward to hearing your update today. Anna, good afternoon to you, Anna. Thanks for having me again today. Look forward to this quick update. Let me jump into it, if I may. I want to use a few minutes up front today to update investors on three specific things. First, the quality of the business we are building. Second, the breadth of the commercial activity now underway. Lastly, why Q4 is primarily a conversion exercise. In saying that, it is not that Q3 will not show real and good progress. The underlying point is a simple one. Route1 is increasingly being built around recurring operating relationships, not simply individual technology transactions. Before we get into those three slides, I have to put up the traditional legal notice. I am going to keep you here for about 5 seconds, then I am going to flip into today's discussion. Moving forward. The most important development since our August update is revenue quality. In Q2 of this year, gross revenue, and again, this is level setting, I am not saying something new here, we prior released Q2. Gross margin was about 45% versus 36% for the same period Q2 a year earlier. Life cycle maintenance and support revenue grew about 12% year-over-year, and our annualized recurring revenue base had exceeded USD 1.4 million per annum as of August 1st. We have also publicly said that Q3 revenue should be generally consistent or slightly greater than Q2 revenue, while gross profit and EBITDA are expected to improve. As a pointed note, we expect to release our Q3 results in early November, and if it can be done, it will be done in advance of our AGM on November 10th. Those statements and where we are coming from are important to us. We're not trying to simply maximize quarterly hardware volume. We're trying to build more recurring support, more operational services, deeper Comprehensive+ support relationships, greater Route1 ABI software adoption, and ultimately more EBITDA and cash flow. The economics of the business are beginning to reflect that transition. The second major change is the breadth of business development activity. Let's get specific. Route1 is now creating opportunities through several repeatable motions. Expanding existing accounts, converting traditional VAR relationships, OEM and technology referrals, channel partner referrals, targeted university and public sector outreach, formal procurements, i.e. RFP responses, and opportunities by replacement cycles, regulatory changes, and operating requirements. That gives us a much broader opportunity base than we have had historically. Opportunities can begin with a camera deployment or modernization requirement and then expand into the more sexier stuff, as we like to call it, integration, life cycle support, Comprehensive+ programs, Route1 ABI software adoption, and recurring operating relationships. The issue today is not primarily opportunity creation. The pace of opportunity creation has by far exceeded the pace of order conversion. As we all know, public sector and institutional customers can take months to move from commitment to a procurement to formal order issuance. That has been slower than we'd like. Q4 is increasingly about converting opportunities already created, not simply adding more pipeline. There is also an important change underway in our sector, the ALPR market itself. We increasingly see public sector LPR and parking focused LPR developing differently. In public safety, architecture, data retention, authorized access, sharing, auditability, data residency, and customer control are becoming part of the purchasing decision. That does not mean agencies no longer value LPR, but it does mean that increasingly they want to understand and control how the technology operates within its environment over its life cycle. Parking is different. Parking customers remain heavily focused on enforcement productivity, occupancy, access, system reliability, integrated workflows, and measurable operating outcomes. Route1 sits in a very interesting position because we can combine customer controlled LPR architecture, life cycle accountability through Comprehensive+, and operating intelligence through Route1 ABI. We believe that combination is becoming more relevant, not less. Route1 ABI is probably the clearest example of how our model is working, evolving. Development is increasingly being driven by actual customer operating requirements. Recent work includes fixed camera trend analysis, weekday, weekend segmentation, multi-zone and multi-permit survey analysis, structured workflows around surveys, zones, geo-fences and permits, and municipal reporting with map-based occupancy reviews. The objective is not simply to produce another dashboard. Parking operators already have significant technology and considerable data and dollars invested. Our opportunity is to help them derive more value from those existing investments, not to spend more capital. We want Route1 ABI increasingly to help convert data into visibility into intelligence, and intelligence into day to day operating decisions. What should investors watch from us between now and the end of the year? Conversion. Not press release volume, not simply the number of opportunities in a pipeline. We have said publicly that we expect Q4 revenue growth compared with Q4, Q3, specifically Q4 bigger than Q3 revenue, and more importantly, further EBITDA improvement. Our priorities are, one, close advanced opportunities. Two, convert procurement and approvals into pro-formal orders. Three, grow recurring revenue. Four, expand Comprehensive+ and Route1 ABI recurring revenue elements. Five, further improve gross profit and EBITDA. And six, strengthen our balance sheet. The operating model is becoming clearer. The commercial opportunity base is broader. Our responsibility now is to turn that activity into revenue, recurring revenue, EBITDA, and cash. Anna, that's my update for today. I'm glad to take questions. Perfect. Thank you. You have said Q3 revenue should be generally consistent with Q2, while gross profit and EBITDA improve. So what is changing in the business that allows the economics to improve without a major increase in revenue? Good question. I'm glad we're reinforcing this, right? It goes to revenue mix. We're becoming less dependent on lower margin transactional technology sales and more involved with weighted, and we're weighted towards lifecycle support, operational services, Comprehensive+, and Route1 ABI. Those relationships generally carry better gross margin characteristics and are more recurring. We are also maintaining discipline on operating expenses. So you put all that together, ultimately, we're going to get similar revenue and better margin and better cash flow. That's exactly why we keep emphasizing revenue quality, gross profit, and EBITDA, and cash, not simply top line volume. You've said the pace of opportunity creation has exceeded the pace of order conversion. So why has conversion taken longer than expected and what are you doing differently in Q4? Right. There's a couple things you can do. One, you need to increase the number of irons in the fire, and with enough of them in fire, they eventually stack themselves so that you work through the problem of timing. Specifically, we've had a long enough investment of time in our business development motions. We'll start seeing significant number of deals close, and that should then carry forward going forward. If you go back in time, we launched a new technology, we launched a new approach to business. We started building business development motions around that, and now we have that pipeline that just keeps on expanding and things are starting to fall relative to orders and new sales. We think that as we get all to 2026 here, this isn't something we're going to be talking about in 2027. Perfect. You described several different business development motions today. Is the opportunity base materially broader today than it was 6 or 12 months ago? Yeah, for sure. For sure. We're seeing a number of public safety opportunities pop up based off of the discussion I had earlier with the group here around the fact that some of our competitors or others in the market have had some challenges with protecting data, integrity of that data. We're seeing the things that we do really well in the parking management space now be in demand in the public safety space. Broader, deeper, wider, I think we're on the cusp of something real big here with the company. The ALPR market is receiving considerably more scrutiny about privacy, cybersecurity, data. Yeah. Is that a headwind for Route1 or does it create opportunity? What do you think? Yeah. Instead of being arrogant with this, let's just go to facts. We work with a technology partner in Genetec that we believe are the most secure around the subject matter of protecting data. More importantly or as importantly, the way they've structured their database is unique to the marketplace. A client's data is not shared then nationally. Historically, it's been a bit of a limitation working with public safety groups that want to see data from around the country. We think that based off what's transpired over the last 6 to 12 months, it puts Genetec and Route1 in a very favorable position in the public safety marketplace. That being said, what you've discussed and described is relative to public safety deployment, not on the parking management side. I do like distinguishing between the two. A simple answer is, as a result of what's gone on that you described, it's opening up a new vertical for us. That's a positive. If investors look back at Route1 on December 31st, what are the two or three things you want them to use to judge whether Q4 was successful? Trending gross profit, trending EBITDA positively quarter over quarter, improved margins, strengthened balance sheet, and the size of the recurring revenue and gross profit being dramatically bigger than it was middle of this year. I've said this earlier in the presentation, and I appreciate you bringing the question up, but look to our execution, not just concept. Perfect. Well, thank you so much, Tony, for the update, and we certainly want to follow along with some more updates in the future. Cheers. Thank you. Have a good one.
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