And I'm joined this morning by Sam Strohmayr, the CEO of KGL. Hi, Sam. Morning. Before I hand over to Sam for the formal presentation, just a reminder, this webinar is being recorded. There will also be the opportunity to ask Sam questions following the presentation. If you would like to ask Sam a question, please do so via the Q&A function at the bottom of your screen. Thank you. I will now pass over to Sam for the presentation. Thanks, Sam. Yeah. Thanks, Gabby, and thanks everyone for joining this morning. It is great to be providing an update on our progress with the Jervois Project in the Northern Territory. Look, I think just some of the highlights around the investment thesis for KGL. We recently moved through the final investment decision, so now Jervois is progressing into full execution. We are really fortunate that this project is fully permitted, all the environmental, mining, water, and really importantly, native title approvals are in place. We also have the funding in place to take this through the project from where we are today through into production. We have executed a number of really important contracts and approximately 60% of our project costs are covered by executed contracts. So we are again de-risking how we bring this project through construction and into production. Our schedule is intact. It is in line with what we announced earlier in the year with our Baseline Economic Model, targeting first copper concentrate in the first half of calendar 2028. Jervois will be a medium-sized copper producer, producing on average 30,000 tons of copper in concentrate over a 10-year mine life. The economics are robust. Quite a strong economics and payback period. That is really driven by the high-grade nature of the deposit. Approximately 2% copper equivalent in the ore. The ore lends itself to conventional processing. It is a very straightforward processing plant, and we will be producing copper concentrate with gold and silver credits. I think also really importantly for us, our strategy is twofold. It is about bringing the Jervois Project on, building a mine, but also continuing to explore within the region. We have a number of proximal targets within the Jervois tenement, and we also have the broader Unca Creek tenement around us. Lots of exploration potential as we go forward. Just touching on a couple of the key highlights. The FID, the board approved proceeding into full project execution this month on the 15th of October. Really importantly, our schedule and our capital estimates are in line with what we announced in the Baseline Economic Model in April. A lot of our contracts are already in place, and the schedule, as I said, is on target for first copper con in 2028. Really importantly, there's been a lot of activity happening on the site, getting Jervois ready for the construction activities to happen in earnest in early 2027. I think one of the key aspects of our journey from being a junior miner with a great deposit, but now being able to transition into execution and construction and ultimately production is the funding stack. Really the instrumental, I suppose, the key initiative for that was the arrangement that we have with Wheaton Precious Metals. It's Wheaton's first investment in Australia, so that's really important. We really see Wheaton as a key partner for us and for this project. We have $300 million in funding, and that really enabled us then to do the equity raise to fund the balance of the project cost to get Jervois into production. I think one of the key aspects of the Wheaton arrangement was the early works funding, the early deposits. They've both been received. That enabled us to start the early works on the site, and also really importantly with the front-end engineering place orders for our long lead items. That's why we have a great deal of confidence around our schedule because we already have our key equipment, which is the ball mill and the SAG mill, and also other ancillary process equipment is already ordered, is already under construction, which enables us to have our confidence in our schedules for first con in early 2028. The Wheaton arrangement was really critical and really a key milestone for the company. That then enabled us to raise the balance of the funding required for the equity raise, which we completed in July. What's happening on the site? You can see that we've been really active. We've accelerated people working on the site from about half a dozen in August to where we sit today, we have about 70 people working on the site. We've really got cracking with the enabling works. That's been predominantly civil works and the installation of our enabling village. We had our first meal in the village on the 21st of October. Now we're progressing with further civil works for the construction pads for the Sedgman offices and batch plant for concrete and also for the processing plant. Those things are well underway. In addition, water pipeline from the bore field to the north, renovating the airstrip on the site, and continuing with the other enabling infrastructure for the site. There's a lot of activity happening, and it's really been accelerated by the great team that we have on site and in our project teams here in Brisbane. Things are progressing on track as we get into the end of the year and then into construction in 2027. Just a couple of snapshots of the activity that's going on. It really is, you're essentially going from having bare minimum facilities on the site to really enabling you to have upwards of 350 people working on the site when we get into peak construction midway through next year, and then for our ongoing workforce of about 500 people on the site. A lot of activity just before we can even get construction underway, but things are progressing extremely well on site. The Jervois Project is in the Northern Territory. It's just off the Plenty Highway, which is about 380 km by road from Alice Springs and about a 40-50 minute flight from Alice Springs to Jervois. That's how we're currently supporting the operation, with flights from Alice Springs into the local community. Then we'll be developing airstrip facilities on the site to enable flight connectivity from Alice Springs, but also in the new year, flight connectivity from the East Coast directly to site to facilitate construction activities. Really well located from a logistics perspective, just off the Plenty Highway, which is now bitumenised just about all the way to the front gate. There's two sections of about 60 km, which are yet to be finished, but really well-connected from a logistics perspective. With our concentrate, which we'll be making 110,000-120,000 tons per annum once we're into production, we'll have the opportunity to send that concentrate either east to the copper smelter in Mount Isa or west back to the Stuart Highway and then north to Darwin or south through ports in Adelaide or through Darwin. Really well located from a logistics perspective and also from a FIFO perspective, close to Alice Springs, Mount Isa, Northern Territory and the East Coast for that perspective. Jervois is a copper-rich area, 2% equivalent copper in the ore. We have reasonable credits of gold and silver as well. A really nice polymetallic deposit. 27 million tons, a 10-year mine life, making on average 30,000 tons of copper in concentrate. It's slightly lower when we're in the first parts of the mine, when we're feeding the open cuts, and then that increases as we go underground. There's been a lot of drilling done on the Jervois deposit. The vast majority of our production profile is in reserves, which really reduces the geological risk, the mining risk, and then the processing risk. From a metallurgical perspective, it's all chalcopyrite, excellent metallurgy. It lends itself then to quite a straightforward, simple concentrator, 2 million tons per annum capacity, which then also lends itself into the construction simplicity, and that's why we're able to get this project up and going in a reasonably short period of time. As I touched on previously, really quite strong economics, and for us, importantly, the copper is unencumbered. We are, I suppose, exposed, if you like, to what we think will be quite a strong market for copper going forward. That's also really important. The project is very sensitive to copper price. We're seeing much higher copper prices now than when we did the economic modeling back in April. Quite a strong outlook for the copper market in general. Just touching on the sort of profile. The Jervois Project is open pit mining to start with from two pits being mined simultaneously, and then we transition into underground development from the base of those open pits. The open pits enable us to get into ore production really quite quickly. Then we're able to generate sufficient cash to develop the undergrounds off the bottom of the open pits. We're sort of running around about 2 million tons per annum capacity during the life of the operation. Then we're using open pit stockpile material to continue supporting the underground production rates, which are about 1.6- 1.7 million tons of ore production. There's certainly an uptick in terms of grade between the open pits and the underground. We see our production profile ramp up as we transition from open cuts into the underground operations. You can see this here in this profile. The open pits are running around about sort of 24,000- 25,000 tons per annum of copper production, and then we see that ramp up as we get into the underground. What's really attractive to us is that all of our underground mines are open at depth and open laterally along the strike, along the sort of the J strike that we see at Jervois. There's no geological constraints in terms of cutting off what we see from the ore. As we get underground, we'll be developing drilling platforms to enable us to do further infill drilling to extend that mine life out past the 10 years. From a timeline perspective, a lot of these things are already sort of underway or completed. The funding, as we've talked about, is secured with the Wheaton Precious Metals streaming agreement and the equity raise. The Sedgman processing plant has been awarded. They're doing the engineering, procurement, and construction, a very well-established engineering firm here in Australia. Sedgman have been involved with the project for a number of years. They're very familiar with the metallurgy, very familiar with the region, and have been involved in a number of the studies prior to this point. We're really looking forward to partnering with Sedgman as we bring this project into reality. The long lead items and the design has been well advanced, and long lead items have been ordered. Early works are really cracking on on-site. We're really making great progress. FID was approved, so we're sort of really into full execution activities now. I think that a couple of the key things that are still to be completed is the selection of our open pit mining contractor, which is imminent. They will mobilize to site in the dry season next year, sort of around June, July. They will start mining, doing the strip and mining the ore to get ore on the stockpile ready for plant commissioning and ramp-up in H1 2028. We see, driven by the metallurgy and the high grade and the excellent grade recovery performance from test work, we anticipate a rather straightforward ramp-up and into full production by the end of 2028. This is sort of an overview of the geology and the orientation of where our mining areas are on Jervois. We will be mining two open pits simultaneously, the Reward open pit here in the north and the Bellbird pit in the south. These are relatively shallow open pits, down to about 350 m. That really generates the ore to get the plant up and going in a fairly short period of time. Then we will develop the undergrounds off the bottom of these open pits. So we have the Reward Deeps, Marshall underground beneath the Reward pit, and then Bellbird. Then we have a decline about 1.2 km long across to Rockface, which is our highest grade deposit, up over 2.5% copper. So we transition from open-pit mining to underground mining, and then those ores will be blended and fed into the plant. As I mentioned before, all of these open pits, sorry, all of the undergrounds, sorry, are open at depth and open laterally. We have a number of other targets along this J strike, which we are drilling at the moment, and we will continue to use our geophysics studies that we have been doing previously to identify targets to continue to drill. As I mentioned before, there has been a lot of drilling done at Jervois, over 257 km of drilling. So we have a great deal of confidence in our open pits. It really helps with the mine design and the modeling and the processing optimization through the plant. So the whole region is quite prospective, and it is underexplored. So we have the Jervois tenement, which is 100% owned by KGL. You can sort of see the J-shaped formation with the Reward open pit to the north, Bellbird open pit to the south, and the Rockface, which are our three areas that are currently in the 10-year mine plan, or the additional areas that we are looking to target inside the Jervois tenement on top of our current resources. So there is a lot of upside potential in terms of further exploration on the Jervois tenement. Then we have the Unca Creek tenement, which essentially surrounds the Jervois tenement as well, which we also see lots of potential for. We will continue to develop the exploration programs on Jervois and Unca Creek with targeted geophysics activity, and then using that knowledge to do further drilling. We have been doing drilling this year. We have had a multipurpose rig on site since about September doing geotechnical drilling for the foundations for the processing plant, putting in additional water bores for construction water supply. We have also been doing drilling on one of the targets that we had identified in our 3D inversion model that we developed through combining all of the geophysics work that has been done across Jervois over a long period of time. Through that geophysics program, we have identified four areas. There's the Kylie Prospect, which is toward the north, which is just below our Reward South deposit. Area 1, Area 2, and Area 3. We focused on the Kylie Prospect initially. We've put three holes into that geophysical anomaly, and we're expecting results, and we'll release those towards the end of the year or in early January. Our strategy, and it's also part of our funding or the use of funds arrangements, we have AUD 20 million allocated for exploration between now and 2028. We're getting on with that exploration program as we speak. Really our strategy is around very singular focus on executing and building and getting into operation the Jervois Project safely and efficiently, but also doing exploration to continue to build the resource base and the mine life at Jervois. Jeff Gerard, our Chairman, very experienced mine developer and operator, has really been instrumental in getting the company to where it is today. My background is in metallurgy. I've been in technical and operational roles for 30 plus years and have spent a lot of time working in the Northern Territory, at McArthur River Mine. I'm based up here in Darwin, so it's great to be involved in a project in the Northern Territory and bringing on a new copper operation, which I think in a market that'll be very receptive to more copper coming on. That's the summary, but just going back through the couple of key takeaways. I think really the key messages are that we are executing this project. With the FID announcement or decision, we're in full execution mode. The schedule is intact with the Baseline Economic Model. We're on track for first concentrate in the first half of 2028. Our capital costs are in line with what we announced previously as well, and we're really getting the team together to bring this project into reality. It's a pretty exciting time for everybody. There's been a huge amount of work done by the team, extremely proud of all the efforts that are going in so far, and we continue to build that team and continue to build the excitement around the project and ultimately the operation. Thanks very much for your time, and I think Gabby is going to maybe get some questions together. Thank you very much. Thanks, Sam. Yes, just a reminder everyone, if you'd like to ask Sam a question, please do so by submitting your question in the Q&A function at the bottom of your screen. Sam, to kick off, you mentioned, obviously you've got to award an open pit contract. Are there any other contracts, major contracts coming up that need to be awarded? Look, certainly the Mining Services Agreement is the key one. The other, I suppose the last piece in the puzzle is the offtake agreement. We have been in discussions with a number of parties around the concentrate offtake. We will be looking to finalize that in the last quarter of this year or early next year. Look, certainly from an offtake perspective, there is lots of interest in our concentrate. It is a nice clean concentrate. We expect those negotiations to be finalized and finalized quite well soon. There are other sort of less significant works that are still happening on the site around the tailings dam development. They are sort of all being managed within our own owners team, which we have really building up quite rapidly, and there are some really great professionals in that team that are really experienced at these sorts of activities. I think the Mining Services Agreement is probably the key one, in terms of its magnitude, and we will be announcing that fairly soon, finalizing that as we speak. Okay. All right, next question. Has work commenced on the construction camp now the fly camp is open? Also, will the construction camp be the permanent project village? Yeah, it is. There are a couple of images that I showed. I will just sort of drag forward to it. You can sort of see in this image, we have got the 72 person camp on the left-hand side there, and that is already up and going and we have people sort of staying there now and having meals delivered in that arrangement. The other two, or the other sort of three areas you can see cleared there will be the other components of that village. It will be an integrated village on the site. Then the old sort of exploration camp, which has been there for a number of years, will be slowly decommissioned. Everybody will be together. It will be one village facility on the site. Okay, thanks, Sam. With the village established, how is KGL managing to attract and retain the workforce required for construction? Yeah, look, it's a great question. I think we're not immune to the difficulty in finding people. But I will say that I think there is something, people like to be involved in a new project. So there's certainly that attraction about working on a site from the get-go essentially. So that's certainly working in our favor. I think it's a beautiful part of the world. It's quite picturesque, the site. So I think certainly when people arrive, they go, "Wow, it's quite a beautiful site to be working on." And we're certainly intending to try to make the camp and the facilities as welcoming and comfortable for people as we possibly can. I've worked on FIFO camps my entire life. I understand that what's really important is that good quality food is being prepared, and that the camp has a welcoming environment. That's certainly what we'll be aiming to provide. We'll be certainly looking to recruit people locally. We're a Northern Territory-based company. We're unashamedly parochial in that manner. I think, FIFO hubs out of Alice Springs, Darwin, and perhaps also Mount Isa will be attractive to people as well to come and work for us. But it's not easy. You've got to work at it. I think also creating an environment where people are welcome and listened to and respected is hugely important. Excellent. Thank you, Sam. Another people question for you. What gives you confidence in the team's ability to deliver Jervois through construction and into production? Look, we've been able to bring together a fabulous team really, and they're already delivering certainly above my expectations in terms of the way that they are. It's quite interesting when you're sort of bringing people together, but the teamwork has been extraordinary. Very professional, doing things with safety as a first priority and really delivering fantastic outcomes already. I'm fully confident that that will flow through into the latter stages of the project build. We're also partnering with reliable companies and professionals as well. That's the approach that we're taking. You've got to keep working on it. You've got to keep building that sort of team environment, celebrating successes where you have them, learning from mistakes when they get made and just sort of bringing everybody along and driving forward. Look, certainly the work that's been done to date, Gabby, has been first class and everybody should be very proud of the work that's been done to date. Great. Thanks, Sam. Next question. Are there still roles for consultants to partner with KGL for the execution phase of this project as part of an integrated project team? Well, look, there certainly is. We have lots of things yet to do on this project. We're trying to build our own sort of team, but we recognize that you can't be experts in all the things that you need to be doing. Certainly, we're looking for partners and assistance where we need it. I think what's important for us too is that we're going through this construction phase, but we intend to be in operation for 10. If our exploration is successful and our near mine extensions are successful, we expect to be here for 15 or 20 years. I think there's lots of opportunities for consultants, businesses, people in general, with the Jervois Project going forward. Thanks, Sam. How does the Wheaton funding arrangements work during construction, and what conditions remain before the outstanding funding is received? Yeah, sure. The funding arrangement, or the way it will be spent, will be a certain amount of our equity that we raise will be spent, and then we expect through next year that the first construction drawdowns will occur, and then they will be spaced in, essentially, over four installments. So, with our current cash profile spends into each quarter, you will be drawing down those construction payments. There are normal covenants that you need to be satisfying. And we have obviously clearly been able to do that through the first early works payments. There are certain amounts of, you need to have sufficient capital with a buffer to be able to finish the project before you can do the drawdowns. But they are all pretty straightforward. The covenants with the Wheaton arrangement are pretty standard, and they are all, if people want to refer the details, we provided that in the announcement related to the Wheaton deal back in April. But there are certain covenants that we have to meet. But essentially, we have four drawdowns of the remaining Wheaton funding as we finish off construction through next year. Excellent. Thanks, Sam. Is there any flexibility with the funding, in the case that capital costs could increase or? Look, the capital is in line with our Baseline Economic Model. When we put our funding together, we have a reasonable amount of liquidity above what we expect the capital to be. So we have some liquidity already. We also have a cost overrun facility with the Wheaton arrangement as well, $25 million if we required. So we have those things already in place. Certainly, our discussions with our offtake partners have also talked about other sort of liquidity facilities as well. So I think we are really nicely positioned from a, firstly, that the project is on track, the capital is on track, schedule is on track, which normally sort of if that is not, you can sort of start to have deviations in terms of the funding that you will need. So really importantly, that is okay, but on the other side, we have sufficient liquidity already in place and a cost overrun facility if we needed to. I am very confident as we sit here today that we certainly will not be coming back to the market for more equity. Excellent. Thanks, Sam. How important are the gold and silver by-products to the overall economics, given the Wheaton funding arrangement? Yeah, look, they are great to have. I think every base metal producer wants to have some gold and s ilver credits. To be perfectly honest, those credit, the gold and silver that we have in the deposit is the reason that Wheaton is involved with it, so it's hugely important. Going forward, we see gold and silver, depending on the price, and the price is between copper and gold and silver, somewhere in that sort of 20% to sort of 25% of our revenue. We do pay Wheaton back in gold and silver, particularly in the first couple of years, but then that steps down. Really with our plans to continue to expand the life of Jervois, the gold and silver credits are very important for the longer term operation going forward. The short answer is yes, it's important. We do see, in terms of our finances, we have to pay back the financing that Wheaton has provided through the stream. The gold and silver is important for us. Excellent. Thanks, Sam. On to the Kylie Prospect. What does the current exploration program at Kylie Prospect aim to establish, and how could exploration success, sorry, affect Jervois beyond the initial 10-year mine plan? Well, what we're doing with the Kylie Prospect is testing what the geophysics model has identified. Essentially, that 3D inversion model, and our Chief Geologist, Atiq, presented that paper at the AGES conference in Alice Springs. We've brought all that geophysics modeling together, and we've identified four key targets to start with, and Area 4 is the one that we've selected first. Really the drilling is to confirm or to not confirm the geophysics modeling. Then really, on the basis of those results, and as I mentioned, we'll be releasing those towards the end of the year or early next year. That will then inform the next phase of drilling. Ultimately you have to do drilling to determine what's there. We see from the site in general, and any geologists that come to Jervois get very excited about all the copper we see on surface because there's copper oxides at surface everywhere. It's about doing further drilling and then defining it as we go along. It's a longer-term process. You're not going to do some drilling today and then start mining there tomorrow. It's a systematic program of doing geophysics and then following that up with drilling. That's the ultimate longer-term plan for Jervois. Okay. Beyond that prospect, where do you see the most promising opportunities to expand the existing resource base? Well, aside from new areas, and these are areas that haven't been tested at all, there's four targets that we have within the Jervois area which are brand new. As I said before, we see lots of opportunity with infill drilling, bringing our spacing in from 50 m to 25 m as we get into the underground. All of our underground mines are relatively shallow. They're down at 800, 850 ms, which are not particularly deep. They're all open at depth, and they're also open laterally as well. As soon as we get underground, we'll put our drilling platforms in and be doing the infill drilling to try and push that life out as well. It's two things. It's doing further greenfield exploration on Jervois from surface, and then in a couple of years' time, once we're underground, continuing to build out the resource and reserve and then the mining, the life of the mine. Excellent. Thanks, Sam. What are the key steps between completing construction and achieving first copper concentrate in H1 2028? Well, look, there's a couple of key milestones that we'll be achieving. It's some simple stuff, but they're important. It's having construction pads for Sedgman to come and start doing their civil works and concrete. It's just the normal progression of construction milestones as you're building a concentrator. That's what we'll see through next year. That's really in the Sedgman scope of work. We're continuing to expand the village. There's 72 rooms there now. The next phases will come through and we'll have that camp fully established by mid-next year in line with the peak construction workforce. Tailings dam construction, airfield construction. There's a bunch of other activities that are happening on site to really facilitate construction. Mobilization of the open pit fleet in the dry season next year. First blast. All those first things that we'll be talking about and communicating as we go through next year and then into early 2028. Excellent. Thanks, Sam. We might wrap it up now. Thank you everyone for joining us this morning. Thank you, Sam, for your presentation. Everyone, have a good rest of the day. Thanks all. Thanks Gabby, and thanks everyone for joining. Really appreciate it. Thanks.