It is time to welcome our next speaker, Alan Carter, CEO and Director of Cabral Gold. Please enter the floor. Canadian junior mining company with projects in Brazil. Yep. Very exciting and interesting. The floor is yours. Thank you very much. Thank you very much. My name's Alan Carter. I'm the Founder and CEO of Cabral Gold. We have a gold project in Brazil. There's quite a lot to get through here, folks. If I don't get through it, please forgive me. Come grab me a little bit later on. Why might you want to have a look at this company? We've been working in Brazil for 20 years. We've made five grassroots gold discoveries in the last 20 years. I think this one's going to be the biggest. Thus far, the biggest is currently being mined by a company called G Mining Ventures. It's 2.1 million ounces. That's the third largest gold mine in Brazil now. We found that. Our project's right next door. Currently, our gold deposit is only 1.2 million ounces. We think this could be 5- 10. It's a district scale play. We've made four new discoveries in the last three years. There are multiple deposits here. How many deposits we don't yet know. We have a two-stage development strategy. We're going to start by mining the saprolite material, the weathered caps to these gold deposits. They're 60 m thick. We hope to make a construction decision in the next three weeks on that. We'll use the money from the starter operation. This should be generating about $75 million a year at the current gold price profit. We'll be putting most of that money back into exploration of the much larger hard rock deposits. Just moving forward here, my background, I'm a geologist. I've got a PhD in structural geology and gold geochemistry. I spent 13 years with Rio Tinto and BHP. As I said, I've been fortunate. I've been involved in several gold discoveries. We've got a very good Brazil-based team. We've been here a long time. We all speak the language. We know our way around Brazil very well. We've got a track record. Just looking at the corporate snapshot here, we're a TSX Venture Exchange-listed company, about $120 million market cap. Right now, we've got 273 million shares issued. I'm not planning on doing any more private placements or equity issues. We have currently a cash position of $10 million. I've put in a lot of money. I think the most important thing in contemplating any investment in any of the companies here over the next two days is how much money management has put in and whether that's material to them. I've put in $2 million of my own money into this company, cash. We're in southeastern Pará State in northern Brazil. This area is quite special. It's special because it's the site of the world's largest ever gold rush in history. I'll say that again because it's not a widely known fact, but it is a fact. The Tapajós region of southeastern Pará State in Brazil is the site of the world's largest ever recorded gold rush. To give you some idea, during the 1980s, there were a million people here washing gold from the streams. The thing that's fascinated me for the last 20 years of my career is where is all that placer gold coming from? As I said, we've found several other hard rock sources here. It is quite a big area. We're right next door to G Mining Ventures. If you look at this map, there's a big regional structure, a big fault coming through here. Most big gold deposits are associated with big faults. We've got a whopper. This thing is 100 km long. OK. Slight technical issue. Where did I lose you? Maybe I should just stop touching this thing. We're right next door. We've got the project there. You can see our little logo. G Mining Ventures has one mine. It is right next door to us. As I said, we were directly responsible for the discovery of that. It's now owned by them. They built it. They declared commercial production last year. It's Brazil's third largest gold mine. G Mining Ventures is a $6.5 billion market cap company. They have one mine, and it's right next door to us. We think our project's going to be quite a lot bigger. The reason I say that is, and you can see where it is now, the claims are contiguous. The reason I say that is, if you look at the amount of placer gold that was recovered from the streams here 40 years ago, Cuiu Cuiu, the project we own 100% of, produced 10x more placer gold, this placer gold being gold coming out of the streams, than Tocantinzinho, and these scale bars, that's what they're trying to depict. It's got a much bigger footprint. Originally, when we found Tocantinzinho 20 years ago, we did a soil grid. We got a soil anomaly that was 1 km long. The equivalent soil anomaly at Cuiu Cuiu is 7 km long. As I said, there's clearly multiple deposits emerging here. If you look at the area in a little bit more detail, our area, we've got 1.2 million ounces. That last resource estimate was calculated three years ago. We've done 20,000 m of drilling since then. We've found four new gold discoveries. This is where the existing 1.2 million ounces are, MG and JB. The yellow stars are the four new discoveries that we've found in the last three years. We're busy drilling on all those right now. We've got three rigs turning. You should expect quite a lot of drill results over the next year or so, and beyond that, actually. We've been getting some incredible drill results in the last 12 months. For example, we've drilled 11 m at 33 g, 12 m at 27 g, and a bunch of other drill results. By the way, they're all outside the existing deposits. In fact, those results I've just talked about are in here. We'll look at the central gold deposit first. As I said, there are several gold deposits here. Central is about a kilometer long by about 100 m wide. It's had a lot of drilling. This is what the yellow dots are depicting. You can see the ore body here. It is open at depth. It's also open along strike. We've got some very good drill holes drilled just outside the ore body, particularly these 27 m at 6.9. That's 500 m. I'm looking at upside down here, obviously, but it's 500 m to the south of the current ore body. There could be an extension to the south. There's certainly an extension to the north. You can see another satellite body emerging there. If you look further up this trend, we'll have a look at this area up through here next. It's 2 km away. We're drilling there right now. We don't have a resource there yet, but I can tell you it's looking like it's a pretty significant gold deposit in its own right. Let's just move up a little bit here. If we zoom in on that area, again, a few drill holes here. We've been getting some quite nice numbers, most of them low grade, but significant. We've done some trenching just to the south of this satellite ore body. As I said, this is 2 km away from the central gold deposit. No resource on it yet. Hope to have a resource on this thing on the left within the next 12 months. This area here is pretty interesting. What are these things? These are trenches through here, which are averaging about a gram on surface. We've never drilled it before. We're drilling there right now. I'm running out of time here. I've got a lot of ground to cover. I thought next we'd have a look at this part of the project, this area in here. MG is quite a significant gold deposit in its own right. It's currently half a million ounces. We think that gold deposit is going to be a million ounces or so. It is growing. We've got two pretty exciting discoveries immediately to the north, within 500 m. Just looking at MG, it's about 2 km long. Again, it's open at depth. If we have a look at what this looks like, we've drilled it down to about 350 m here in the middle. It's open. This gold deposit is extending at depth through here. I don't know if you can see my scribbling. Sorry about that. It's not very neat, but you get the picture. We've got another new discovery here. This is another one of the new discoveries, which is emerging just to the north here. It's only 500 m away. Don't have a resource on it yet. We've got continuity over 900 m along strike. My guess is it's probably going to be a similar size to MG, but it needs more work. We are drilling there right now. Something that surprised us is if you just have a look at this area in through here, this is showing all the drill results. These are some of those spectacular results that we've been getting in the last few months: 12 m at 27 g, 5 m at 24 g, 11 m at 33 g. That is a new zone. We don't quite understand what that is yet. There's probably a structure coming through here. It looks on the geophysics that it's 700 m long, but it's yet another new discovery. We've really got our hands full. The interesting thing, beyond the three deposits that we've got and the four new discoveries, some of which I've just gone over with you, is I don't have time to go through everything. There are 50 other targets here where we've found gold. These black dots show some of the drill intercepts we've got outside of the existing deposits. For example, this Jayceamer area here, we've got 39 m at 5 g. Mashishi Southwest, we've got two holes into that, 3.4 m at 36.9 g. This one is narrow, half a meter at 30 g. We've only got two holes there. If you then look at surface occurrences, where we can see mineralized zones sticking out of the ground, these are all things we've not discussed thus far in this presentation. You've got areas like JN. The trench there, there's one trench, 5.3 m at 24 g. Here's another one not tested, 14.7 m at 2.6 g. Finally, just to give you a round of how exciting this district is, what you're looking at here are boulder fields. These are boulders lying around on the ground. They're not in situ. We don't know how far they've traveled. This area was never glaciated, so they've not traveled probably more than a kilometer or so. Some of these boulder fields are pretty exciting. This one here, Alonzo, the boulders here average 91 g a ton. Gold, not silver. Gold. There's one here, Traquejar. The boulders are averaging 75 g a ton. There's another one here, Medusa, where they're averaging 24 g a ton. That just gives you some idea about what these things look like: big quartz sulfide blocks lying around in the forest on surface. We've got a district. The challenge for us is how do we fund all of the exploration that we need to do here with this district? We think the best way of funding that is, as I said at the beginning, a two-stage development strategy by mining this material, this weathered material on the top, which is 60 m thick. It's saprolite mud, and it's free digging. That should give us cash flow, quite a lot of it, $75 million U.S. a year at the current gold price. That's the plan. Of all the gold deposits we found here and the targets we've got, we've currently got five areas that we know where we've got this saprolite material with gold in it. It's up to 60 m thick, as I said. Of the 1.2 million ounce resource we've got that was calculated three years ago, there's 300,000 ounces in the saprolite. This is just going back to one of the gold deposits at Central. I just wanted to show you this quickly. We're talking about this stuff on the top. That's the stuff that we tend to mine. We did a PFS in July. I'll show you the numbers in a moment. It's going to be a heap leach project, guys. This is the simplest sort of gold recovery method that you can get, being used in hundreds of mines around the world. Fortunately, our material leaches very well, 92%- 93% recoveries here. This is what the plant's going to look like, gives you some idea. That's the MG gold deposit. If we spin that round a little bit, you can see how close the plant is to the open pit. These are the pads, the heap leach pads, in through here. This is where the ore will come in here on the left. I'm spinning this round. I'm probably all making you dizzy. I know I am. Anyway, as I said, heap leach processing. We've already ordered the processing plant, which is on the other side of the pads there. That's being constructed right now in Western Australia. These are the numbers that came out of the PFS. This was from July, the end of July. There's a press release. Please look it up if you have an interest. We modeled the economics on this starter operation, doing 3,000 tons a day at a gold price of $2,500, which looks kind of out of date, given the current gold price. The NPV on this, because it's a small little starter operation, it's only costing us $37 million to build this. We haven't made a construction decision yet. As I said, I expect that in the next few weeks. The IRR post-tax at $2,500 gold is 78%. At $3,500 gold, it's 151%. It should be a very, very profitable operation, 3,000 tons a day. The all-in sustaining cost for producing the gold here is $1,200 an ounce. We can only start with 25,000 ounces a year. In summary, I'm out of time. Been in Brazil a long time. We've been involved directly in five gold discoveries, including what is currently the third largest gold mine in Brazil. We've got a district scale opportunity here. You've seen multiple deposits, several new discoveries, and a district with gold all over the place. Management's put a lot of money in. As I said, I'm a large shareholder. I put in $2 million myself. We're in the Tapajós, which, of course, is getting a lot of good press right now, given that G Mining has been so successful. Thank you very much. Thank you, Alan. One of the key words I think was it is an absolute whopper when it comes to the finding here. You referred to the PFS. When do you expect to make a production decision and start producing gold? I think in the next month. Obviously, we have to finance the capital cost to build that starter operation I was talking about is $38 million, just under $38 million U.S. The study, by the way, was done by Ausenco and included a 20% contingency. Actually, without the contingency, the capital cost is more like $30 million. We expect to raise a bit more money than that. For once, our timing is pretty good. You know, with the gold price at these kind of levels, we've had quite a lot of interest. Do we have any questions here from there? We have, please. Regarding the superficial layer, you don't see a risk that that 1 million Brazilians return descending on your land to start digging? Yeah. No, we don't. The reason for that was because the small miners 40 or 50 years ago required water. They were washing gold through simple sluicing methods in the streams and rivers. The gold deposits we have are all on hilltops. No, we don't see a significant risk. The proof is in the pudding. There's nobody on top of mining anything of this oxide material in any of these gold deposits I've described. There's still about 30 people still washing a little bit of gold from the streams. There's probably quite a lot of fine gold still sitting in the sand and gravel in the drainages here. There could be 2 or 3 million ounces still sitting in the sand and gravel there. That's not a target for us. We're interested in the primary sources. As I said, we think this district is probably going to contain 5 to 10 million ounces. That's our focus. Good question. If you could help us here in the market, what shall we look for the next coming 12 months? You have a PFS, sorry, and you're looking for financing. What are the key catalysts for us to look for? I think the first one would be project financing. We think the company is likely to get, you know, nothing's certain, but we think there's a good chance that it'll get re-rated once we secure the funding for that stage one operation. As I said, I think we're weeks away from that. That gives you some idea because I've been working on it for funding of this thing for 18 months. We're quite a long way down the track with that. I can't tell you much more than that. That's a big potential catalyst. We've got three rigs running, one of which is on that very high-grade discovery that I talked about earlier, Mashishi Northeast. We are going to update the global resource base here. The objective here, looking 12 months out, sort of third, fourth quarter next year, is to recalculate the resources on everything within our district. I think that is going to, there's no doubt the resource base is going to grow significantly. As I said, it's already three years out of date. We anticipate doing another 20,000 m over the next nine months. There's 20,000 m that was put in already since the last resource. Quite a lot of catalysts. Give us one or two arguments. What sets you apart from, let's say, peers, not necessarily in the area, but where you are at the stage? Look, guys, some of you folks know me. Most of you probably don't. I think the thing that you need to look at closest is management, not just that management are a good geological team, but they need to be able to raise money. The most important thing, I think, when you're meeting with people at this conference is how much money has the management team put in. I don't know how many other CEOs have put in a couple of million dollars. Some will. Some have put in more. I can tell you that's a lot of money for me. I think that's kind of key because when you've got that kind of money on the line, you eat, sleep, and drink about it all the time. I think that's a differentiating factor. We've already got $1.2 million ounces here. We've got a district scale play. This is going to get way bigger. We're drilling, so there's lots of news. We're in a great location next door to Brazil's third largest gold mine. I think those are the things that probably perhaps set us apart from some other companies. Crystal clear. Thank you so much, Alan. Thank you. We're giving a warm round of applause. Thank you.