Good morning, and thanks for joining us for West African Resources' March 2026 quarterly call. It was a productive quarter for our gold operations at Sanbrado and Kiaka in Burkina Faso. Before I get to discussing our performance, I want to address the ownership structure changes at Kiaka in regard to the Burkina Faso government. This has been under discussion for a while now, and as we've announced this week, the Burkina government plans to acquire an additional 25% equity interest in our subsidiary, Kiaka SA, who is the operator of the Kiaka gold mine. This will take the government's interest at Kiaka to 40%, as it has an existing 15% free carried stake already. This additional capital share in Kiaka SA has been valued by the government at XOF 70 billion, which roughly equates to AUD 175 million. There's been no discussion with the government regarding the ownership of Sanbrado or Toega. Toega's obviously on track to start producing later this year. They were not referred to in the decree that was published in regards to Kiaka. We are working with the government to finalize the terms of the acquisition for Kiaka, and we aim to have that completed by the end of this calendar year. At this stage, we plan to distribute any cash proceeds from the equity sale of Kiaka SA to our shareholders by way of special dividend, and we'll keep you updated with any developments regarding this. Regarding our results for Q1, we achieved gold production of 107,728 oz across both Sanbrado and Kiaka for the quarter, at an all-in sustaining cost of $1,921 per ounce. We remain on track to achieve our annual production guidance of 430,000 oz-490,000 oz of gold, with an all-in sustaining cost below $1,900 an ounce. Gold sales were steady compared with the previous quarter, with 104,000 oz and 145,000 oz sold in the quarter, and we achieved this at a price of $4,945 per ounce. This is a strong result given our unhedged exposure to the high gold prices. We generated AUD 440 million from our operating activities in Q1. This took our cash balance to a record AUD 847 million, with AUD 213 million in unsold gold bullion at the end of the quarter based on current prices. Looking at each operation in more detail. Sanbrado continued a steady performance in Q1 with 42,024 oz of gold production, which is in line with the planned 2026 annual production profile. Sanbrado will see higher contribution of mine ounces from the M1 South underground over the remaining three quarters of 2026 as more stoping areas become available. We achieved Sanbrado's production at a site sustaining cost of $2,034 per ounce and sold 42,428 oz at an average realized price of $4,978 per ounce. Unsold gold bullion at Sanbrado at the end of the quarter totaled 11,794 oz, valued at about $54 million. At Kiaka, production continued to ramp up in the quarter, delivering 97,906 oz from open pit mining operations, and we produced 65,704 oz from processing operations. This represents an 18% increase and 6% increase respectively over the previous quarter in mined and processed ounces. Kiaka delivered gold production at a site sustaining cost of $1,779 per ounce. We sold 61,717 oz from Kiaka at an average realized price of $4,922 an ounce. With unsold bullion just over 20,000 oz held at the end of the quarter, which is valued at about $92 million at the current gold price. While this production performance was impressive, we also delivered on several other fronts during the quarter. We released our updated resources reserves and 10-year production plan in the quarter, which demonstrated further increases to Kiaka and Sanbrado's production plan on the back of outstanding results from our 2025 drilling programs. We're now looking at delivering average gold production of 533,000 oz of gold per year over a 10-year period, with gold production expected to peak in 2030, just short of 600,000 oz. Sanbrado's mine plan has been extended out to 2036, with its production expected to peak in 2030 at 317,000 oz. At Kiaka, we've also modeled higher production throughputs based on exceptional performance from the process plant since we started operations. Our unhedged mineral resources now stand at 13.6 million oz of gold, while ore reserves total 7 million oz. We see potential to improve annual production further through ongoing drilling programs, and we plan to drill more than 100,000 m annually, targeting extensions at M5 South underground and beneath the M5 North open pit, and also targeting underground potential at Toega. This 10-year plan highlighted just what a strong and sustainable future our company has and our potential to continue generating value for stakeholders and host communities over the next decade and beyond. Speaking of the future, Toega, our development project, continues to progress well with open pit pre-stripping commenced late in the quarter, and a total of 621,000 BCM of material was stripped. Surface grade control drilling was completed during the quarter in preparation for first ore mining, which is on track for this quarter, Q2, and delivery of that ore up to the Sanbrado processing plant is expected to start in early Q3. In terms of exploration, we released impressive results from our M5 South underground drilling program, where high-grade gold mineralization was extended by 400 m below the current mineral resource. Our resource conversion drilling program is also progressing on schedule. We also reported good results from our drilling programs at M5 North, which returned wide intersections and delivered consistent mineralization below the current open pit ore reserve, and M1 North, where results support potential for a cutback. In addition, a 13,500 m program targeting the Toega underground resource is ongoing. We plan to incorporate results from Sanbrado into an updated resource reserve and 10-year production plan into the coming quarter. With that overview of operational activities, I'll now hand over to Padraig to discuss the financial results. Thanks, Padraig. Thank you, Richard. The WAF, as Richard mentioned, the strong gold sales. The WAF group generated AUD 742 million of gold sales revenue combined in the quarter from an average gold price of $4,945 per ounce. We generated AUD 440 million of operating cash flow in Q1 and ended the year with a record high cash balance of AUD 847 million. Looking at the notional net cash, which is calculated as cash plus bullion minus debt, we more than doubled the notional net cash in the quarter, and ended the quarter with $450 million notional net cash position. Our capital investing activities in Q4 used AUD 90 million cash, which was comprised of AUD 38 million investment into Sanbrado, AUD 23 million into Toega, and AUD 29 million at Kiaka. Financing activities in the quarter used AUD 45 million cash in Q4, mainly comprised of AUD 28 million of loan payments and AUD 11 million of interest payments. I now hand back to Richard for his comments. Thanks, Padraig. Thanks, Richard. As you can see, it's been another strong quarter for West African on the production front. In terms of our ESG performance, we're also tracking well with environmental activities such as seedling production and food donations, giving back to our communities, and we continue to invest strongly in areas such as education, health, economic development. We're working with our contractors to enhance these programs, leading to more support for local education facilities. We also supported local schools with donations of bicycles and school supplies during the quarter. Our community relations team coordinated education sessions on the risks associated with artisanal and small-scale mining, school absenteeism, and we handed over storage warehouses to four agricultural cooperatives run by local residents who've received help, training to help support their local communities. With our operations at Sanbrado and Kiaka performing well, we are pleased to be a positive contributor to the communities in which we operate, as well as Burkina Faso more widely. I'd like to thank our employees and contractors for their efforts as well, as we wouldn't be able to achieve these results without them. Thanks again for your interest in West African Resources and for joining the call today. I'll now hand over to Nathan to see if we have any questions. Thank you. Just a reminder, if you'd like to ask a question directly to the company, please use the raise hand function within Zoom. Your first question comes from Paul Howard at Canaccord. Please go ahead, Paul. Yeah. Good morning, guys. Thanks for the call. A couple of questions from my end, if you don't mind. How does the Burkina Faso government intend to pay that AUD 175 million? You mentioned any cash proceeds perhaps being redistributed as a special divvy. Is the government intending to actually hand you physical cash? Thanks, Paul. Yes. Look, in our extensive discussions with them, we've discussed a cash payment. The government's probably seeing record high revenue from the current gold price from the operations that are operating in the country. Given the return that the government will get on this investment, it's something that's probably commercially attractive to banks as well. We're expecting to be paid in cash. Great. A couple more and perhaps more up Padraig's avenue is, what's the debt repayment schedule? I saw a little more debt expected to pay this quarter, but how should I look at that going forward? Padraig? Yeah. I can't remember exactly debt repayment schedule, but it's over three years remaining, I think, and there's a large bullet at the end. About AUD 100 million bullet. Yeah. Yeah. In 2028, there's AUD 100 million bullet. We have fairly low debt repayments until we hit 2028. Yeah. It's the bullet I don't have, which makes sense. Awesome. Yeah. While I've got you then, no tax payments this quarter? Indeed, the subsidiary payment, that's normally that AUD 3.9 billion in your cash flow report. Yeah. We paid the Q1 tax installment for Sanbrado early. We paid it before the end of the year in 2025, so that's why it doesn't show up in Q1 2024. Sanbrado installment was paid. Kiaka didn't pay tax installments in 2025 because it's its first year of operation. We have tax settlements coming up, though, at the end of April, where we'll lodge our tax returns and then have to pay the taxes due on those years, on the 2025 year. Right. Yeah, that line where in the cash flow, we have AUD 3.9 billion, the subsidiary minority interest profit distribution. Yeah. Subsidiary minority distributions have been calculated now. We are looking at around AUD 68 million for both combined Sanbrado and Kiaka to be paid sometime in Q2. On the income tax, they've been calculated as well, and we have about AUD 120 million that we'll be paying to clear the 2025 taxes payable balances. Got you. Good. That's AUD 120 million, right? Yeah. Yeah. That AUD 68 million you've got to pay in April, is that relating to March quarter? No. This is the priority dividend. The priority dividend is paid annually. [audio distortion]. Okay, yeah. It relates to 2025 earnings. It will be paid not in April, but sometime over Q2. Perfect. Thanks so much for that, guys. You're welcome. Thank you. Your next question comes from Richard Knights at Barrenjoey. Please go ahead, Richard. Hi, gents. Thanks for the call. Just harping on the AUD 175 million again. Just wondering if you have any insight as to how the government came up with that number. In your opinion, is that within the bounds of the new mining code in Burkina? I suppose where I'm going with this is, where do you see the risk then that this pops up again for Sanbrado down the line? Thanks, Richard. Look, the valuation mechanism used in the 2024 Mining Code, it's not an NPV-based calculation. The government bases that off cost required to sustain operations. Effectively, a sustaining capital estimate for the life of mine. It's unusual, but that's within the 2024 Mining Code. It still results in a substantial number. It's not zero. Now, in our discussions with SOPAMIB, which is the government's representative, we've addressed our other operations, and for our understanding, they're not being targeted to have the same treatment. We'll also be addressing that, or we'll be looking to address that in our documentation process regarding the 25% equity interest for the government. We'd like to see no further changes to our other operations, and ensure that other fiscal financial terms for our other operations are honored really. Yeah. Is there a way you can get surety around that? Or are you attempting to do that? Yeah. We're attempting to do that, and we'll address that in our documentation process. Okay. Fine. In that same announcement, I think you mentioned in your comment that you're still looking or you held discussions around further collaboration on near development assets. Yes. Is that something that we could potentially see more detail on this year? Yeah, I think so. It'll take a little while because we need to get our people involved, and we need to do some technical reviews of the projects that have been discussed. I think there's a good chance that we'll advance that this year. There's some assets that need a lot of drilling. I think you see that with a lot of older projects that they're under-drilled, and there's definitely good potential on some of them, and they're in reasonable locations in Burkina. Yeah, that's a process that we'll have to go through technically now and assess them and then form a view on it on what we think we can move forward with. Okay. Brilliant. Thanks very much. Thank you. Your next question comes from Mike Millikan at Euroz Hartleys. Please go ahead, Mike. Yeah. Thanks for that, guys. Excellent cash generation for the quarter, Richard. Congrats. Just my very quick one on the payment consideration. Should we expect the date to be the date of the decree or actually when you receive the money? How should we think about that? No. Under the law, the benefits aren't received until the shares are paid up. We expect that will be later this year or when we receive payment. Yeah. Got you. That would be the date. The effective change of ownership only once the funds are received? Correct. Yep. Obviously, very quick question on the diesel in country. Obviously, it's regulated. How's your supplies, stockpiles? I'm sure any comments around that? Look, I was just in country, so we've typically got across both sites something like 70 or 80 trucks in circulation either heading to site or heading from site to port. Fuel comes from Benin and Togo, which is to the southeast of Burkina. We typically keep at least two weeks of storage in tanks on site and then, when I was there were another week or so of trucks sitting at the mine gate. We've also got trucks in circulation. It's something that we've been aware of for a while. We were addressing this before, the current crisis in the Middle East. We've definitely seen a drop off in availability, but I think it's something that we've planned for and that we're dealing with. Yeah, cool. Your stockpiles seem pretty high at both operations. What, roughly 72,000 oz at each, which is pretty impressive. Dividend policy, Richard, have you. Yeah. Have you guys thought of one or what? I mean, obviously there's a lot of cash generation, special divvy coming. Is there a bit of a thought on a bit of a policy to publish? Look, as far as policy goes at this stage, we're obviously still. Kiaka is still a new mine, and it's generating a lot of cash. We've got a fairly big few months in finalizing the 2025 tax payments and dividends to the government. We'll be looking to bring as much cash up after that and, we haven't set a policy at this point. We will pay. I think what we've said is a substantial dividend. I mean, I think it's got to be a meaningful amount. Padraig, would you like to elaborate further? Yeah. I mean, when we say meaningful amount, we're talking in the hundreds of millions dollars. We just haven't decided on the amount yet. We'll do our cash projections and we need to forward project all of the government dividends and taxes and working capital needs for expansions, et cetera. We still have the Toega stripping program going on, et cetera. It's a bit early for us to have a dividend policy based on percentage of cash flow or profit at this stage. Yeah. Got you. Maybe, buyback versus paid dividends. Is it, again, given that you're just contemplating whether both or either? Yep. Got you. Yeah. Correct. Look, I think, we'd like to have the option to buy back our shares if we see weakness. Yep. We'd like to be a strong dividend-paying company as well, so. Having all those different tools in the shed would be pretty handy. Just finally from me, just, Richard, you mentioned something. Are you talking another update for Sanbrado in regards to resource growth? Is that what I heard? Well, there will be. Yeah. We've got a lot of infill drilling going on at M1 South. While it might not move the needle on ounces overall, it'll certainly improve the category. It's not as. [audio distrotion] Not as meaningful, I think, as our last update, which was during Q1. Yep. In March. Mostly focused obviously, M5 South underground, some of those. Yeah. Good extensionals there, got you. Yep. Excellent. That's all I've got. Thanks very much. Thanks, Mike. Thank you. There are no further questions at this time, so I'll now hand back to Richard for closing remarks. Thanks, Nathan. Thanks to the WAF team for another sensational quarter of production. I think, it's quite impressive. I can probably say we're just ordinary people achieving extraordinary things, and I'm very proud of the team. We look forward to another strong quarter for Q2. We've had a great start to Q2 production already, delivering on our plans for the rest of the year. Thank you very much for dialing in, and we look forward to keeping the market updated with our progress.