Welcome to our Investor Day. We really value the opportunity to meet with the investment community, particularly during PDAC. You know, last year, you know, we had a lot to talk about, but we should have ended it by saying stay tuned because this year, boy, do we have a lot to talk about. As we go through the presentation, you'll notice, I think, some things become very clear. One is, this is a team of people that are very committed to mining in Timmins, Chapleau, and all of Northern Ontario. We believe that there's really no better place in the world to do our business than in that area. We're very appreciative the support that we're seeing from government and particularly the Ontario government, not just for critical minerals, for all mining. On that front, you know, I know there's a lot of talk about the Ring of Fire, and I'm sure it'll be an unqualified success eventually, but we like to think that there's already a Ring of Fire in the province, and that's the Timmins Camp in Northern Ontario. Our other business is Cordero. Cordero's always had an element of politics around it, but we think that's gonna come to an end very quickly. What we see with Cordero is a mine that's gonna be able to help be part of the solution to the world's need for silver for things like energy transition, solar, electric batteries, water purification, things the world needs. I'll tell you, I talk about our commitment to Northern Ontario, we're absolutely committed to making Cordero a shining example of how you can responsibly build and operate a large-scale open pit for the benefit of the people of the world. We're going to talk about all of that today, and this is how we'll roll out the session. We're going to do a presentation that will be followed by Q&A, and then afterwards, there will be a light lunch outside. The speakers today, firstly, will be Tony Makuch, our President and CEO. I can tell you that I am personally, and I think we as a team, are all very proud that Tony last week was named Kitco CEO of the Year, and I think you will agree it was very deserving, so, w e will have Alison White give a financial review, largely reviewing our guidance. Eric Kallio over here is our Senior Vice President, Exploration. I'm always tempted to call Eric a rock star because he's always finding rocks that we create a lot of value from. He's got a large program he's executing along with his team, about 280,000 m of drilling. You're gonna hear all about it. Forbes Gemmell, our Executive Vice President, Business Development and Growth, will talk about Cordero. He'll give you a sense, post-MIA approval, what things look like in terms of moving forward. I need to show you the obligatory forward-looking information slides. We will be making a lot of forward-looking statements. We think you deserve to know what vision we have, what's driving us every day when we come to work. Please, these are all available on the website. This is our other cautionary language slide, deals with issues like resources and reserve cautionary language, as well as non-IFRS measures. Again, you've I'm sure seen all this before, so please give that due consideration. With that, I'd like to introduce Tony Makuch, our CEO. Thanks, Mark. You know, anyway, you know, one thing, guys, I know we gotta look that way, but this presentation's this way. It's kinda awkward a little bit, but maybe it's like a union negotiation, eh, you got? Anyway, yeah, no, and, you know, it's been a definitely a good year, and, you know, I know we talk about accolades and stuff, but we, you know, you can sit and say Discovery's a company of the year and a lot of really good people. We've gone from, you know, maybe six or eight people that were Discovery Silver in last year at this time to 1,000, 1,500 and, you know, look at what we're doing, but Kidd will be over 2,000 people in short order and growing and growing in the right way in terms of what we wanna accomplish. Anyway, you know. Yeah, I know when, you know, we've had these before. We've, you know, with l ast year, well, or two years ago, we were talking about a great feasibility study and a great project in Cordero. We are committed to Cordero. We can really work there and demonstrate responsible development and, you know, and how we can build the, you know, in terms of what we're business. I mean, I come from this industry. I was a. You know, when a lot of people say things bad about the mining industry, in the end, you know, we're. I can't say we're the good guys. We're the good guys and girls, right? We do a lot of the right things and, you know, I think as we progress, even in terms of what we're doing here in Timmins and as Cordero, as we move forward, we can really demonstrate a lot of leadership in the industry and really maybe the next 40 years, people will want mines, and they'll be calling everybody up. I always sit there and say. Some of the best thing you do is you have a community call you up and say, hey, can you come and build a mine beside us? Because we want you, want you guys, and we want your people here and then what you bring. Anyway, before I get into a lot of stuff for what we're doing in Porcupine, and what we're doing within Discovery, but a big part, yeah, we just, you know, we've been working a long time on this. Some people here probably aren't surprised to finally hear or don't have to read the press release to talk about the benefits of what comes from us picking up Kidd, 'cause I think we've talked about it for a number of years and been working on it for quite some time and, you know, I think it's, it's definitely a lot of synergies and, you know, a big part of it was. You know, you can sit there and say there's really three things. The main driver was, you know, when we talk about Porcupine, the ability to expand Porcupine and really to do what we wanna do from, on the gold circuit side. Grow is we need mill capacity, and you just happen to have a state-of-the-art, I mean, Texas Gulf Limited, who built the Kidd Creek met site in 1960s, they were state-of-the-art then, it's been built well, and it's been looked after extremely well by all the people. We, you know, we picked up really a world-class facility here. We're gonna have to convert it. We're gonna have to make some changes and invest in it and convert it to a gold circuit. You, you know, it unlocks a lot of value in Porcupine for us. Really, that's the main driver of the acquisition to get this mill. Oh, by the way, somebody, It's sort of like when we were starting Lake Shore and we were trying w e bought the Bell Creek mill, and Goldcorp said, you know what? We got this Bell Creek mine. We'll throw it in, right? You might as well take it 'cause it's, We don't, you know, we don't need it. Somebody threw in the Kidd Creek mine, and they threw in all this exploration ground. I know Mark talked about, you know, our exploration and talked about Eric and Karen, yeah, we got a big exploration program in Porcupine in over CAD 90 million almost this year, Canadian. We just picked up a whole bunch of highly prospective exploration ground as well, we're probably gonna, you know. If you're at the PDAC, used to be a place where, when we were students, everybody would come here looking for jobs. Hopefully, there's some students looking for jobs because we got a lot of work for geologists. Anyway, you know, it's a large land package. You can see where it is. A big part of the benefit in terms of, you know. Sorry, you can see the size of the land package and an unexplored land package in the region. You know, Kidd Mine being one of the largest volcanogenic massive sulfide deposits in the world, over about 177 million tons mined to date. Still another. Well, there's still, down at depth, there's still almost 30 million tons there, that, you know, it's whether you want to go deeper at it and all that stuff. It definitely. There's that, plus there's some significant exploration upside. In terms of us, as we talked about it, in terms of our. In being able to increase production capacity from a milling point of view, we can basically. It gives us the ability to develop Dome now and have one mill for Dome and mill here. Eventually, over time, it, we can develop TVZ. We can do a lot of things. We have infrastructure here that we need to support the underground. Like, the Hoyle Pond mine goes underneath the Kidd met site. We have the mining rights, but we don't have the surface rights. Well, now with this acquisition, we have the surface rights. Now we can bring vent raises and shafts to surface if we need them. We also have access to water. You need processed water for mine. You gotta have access to power. We need power to increase ventilation, to increase also, you have access to all, lot of the utilities that we were short of, and we would had to go out and get. We haven't closed the deal yet, but, you know, you can talk about what we paid for it, and it's, it'll be sort of lot similar to what we did when we discovered Porcupine. I'll go back what Eric Sprott would always say to me was, you gotta steal value, and, you know, we'll leave it on the table for a while, and people will think, well, did Glencore get a better deal, or did we steal something from Glencore here? It's gonna be up to us to make it work. Yeah, there's production here. You know, the one thing I think that, you know, the value that we should really talk about is the people. I mean, you have access to a large, skilled workforce, well-trained, variety of trades and all the disciplines we need for our industry. A lot of processes, managements, operating systems that we pick up, that we can really mature our company, the company now with the infrastructure here. We're not just gonna, you know, take this and this was, you know, where you're gonna tell these people what to do. They're gonna come in and mesh, and we're gonna make a much better company with the people we're picking up from Kidd. I can go through the terms. I mean, people can re-read this all, you know, it's, you know, there's some. Sorry, I mean, I think it from our perspective, and I think it's a win-win from our perspective and definitely a win I think for Glencore. We'll find out, probably find out over time that we're the ones who really won more, right? You know, going back to, you know, what we're trying to do with Discovery and what we see out of Porcupine and even the company, right? Where's the company gonna go over the next few years? Like, we, you know, we had our technical report. We do have to do a lot of work and deliver a lot of studies over the next while in terms of advancing what's in our technical support to report to support that. We indicated that that was a baseline. Part of it is increasing production, lowering costs from that, extract some stuff. Really, the big thing is we feel very strong we can grow this to 0.5 million to 750,000 ounces a year production. It's not because we don't have the resources or the minerals and the gold in Timmins to do that. We didn't have the milling capacity. The first thing, again, as we talk about with Porcupine with the Kidd acquisition, now you can see now there's a path. We have a spot where we can build that capacity. You know, if we get Cordero permitted, which, you know, all the it's all positive in terms of that. Maybe there's just some administrative things that need to be the I's dotted and crossed. You know, you can look at over the next three to five years where this company gonna be producing, you know, make somewhere over 0.5 million ounces. More than doubling, almost tripling current production. Plus producing 14 million ounces of silver. Plus now, you know. Potentially producing, you know, 40 million pounds of copper, 80 million pounds of zinc, and another 3- 4 million ounces of silver. There was a period of time when Kidd was producing over 10 million ounces of silver a year during its production. There's a lot of upside there in terms of productivity. I mean, in terms of what we're trying to do and how we wanna create value for shareholders, it's not just about growing production. That's not the. You know, in the end, we've gotta improve productivity, we've gotta invest in the business. We want to lower costs. We wanna get our costs to the lower half of the cost curve. We wanna be able to. Although we got $5,000 gold or $5,300 gold and $90 silver, I mean, I don't know, I'm old enough to have and seen both. all different sides of this and, you know, you gotta plan for, we gotta plan for a different number, right? You know, we gotta be as efficient as we can be in our operations, and that's part of what our goal is in terms of, you know, investing in the business and investing through exploration, diamond drilling. We've got to invest in equipment that we need and infrastructure for the mines to lower costs and just improve productivity. We gotta invest in people. We gotta train and develop, and we gotta recruit people, and we gotta bring on a new generation of people that for this industry because we're building a mining center in Porcupine and Cordero that's multi-generational, right? You know, we're setting up here a 20-40 year plan. We gotta need people that, you know, recognize and attract people and develop people and create that whole succession plan. We need to work in all aspect. We need partners in colleges and universities as much as we need partners with, you know, throughout the industry. You know, I think the one thing, I, you know, I'll let Eric talk about it, and, you know, in terms of Timmins or in terms of Porcupine, you know, you got 110-120 years now of gold mining going on in Timmins. You've had 60 years, sorry, of the Kidd Mine. What if you find some brand-new deposits in all this period of time? I mean, that could be the exciting part of what we're trying to do. Not only are we gonna build, you know, to 0.5 million ounce plus, we're gonna bring it down to be low cost, not only are we gonna be able to bring on new silver mines and bring on, you know, look at extending base metal mining in Timmins, we got the chance to find a lot of new deposits and build some more new gold mines after all this period of time. It's gonna be our energy, it's gonna be our, you know, what we can bring to the table, and I think there's a lot of opportunity there. Maybe I'm talking too much about one or two slides here, but this is just showing where we are for people who don't know where we are. I think everybody knows where we are. This is a slide we put together to talk about valuation, right? You know, what are we valued at today versus what we could be valued at? You know, when we, when we look at, you know, just, you know, looking at where prices are and metals are today and what we're currently doing just in our technical report and just in our feasibility study for Cordero, you know, you can sit there, you can find $11 billion in value. We're increasing production and lowering costs at Hoyle Pond and Borden, where we can bring Dome on to production. We can bring TVZ on to production. We got all kinds of exploration upside, now we have Kidd, right? Now you can see the part of the path. Not only are there a path to being able to achieve the concepts we talk about in terms of growing production, growing mill capacity, but now you can see some other new value-creating opportunity that's gonna be here. You know, we think we got an exciting thing going on here and, you know, Talked to Murray John and we, you know, we said you never would've expected that we'd get a chance to own the Porcupine gold camps. Like, you can go to, I don't know, pick a spot. You can go to, you can go to Chile and you can own all the copper deposits, or you can go to Western Australia, or you can go to Kalgoorlie and you own everything, or you can go to South Africa and own a large part of the Bushveld. We have somebody, i t just, i t's here. The other part of it, though, is we can go to Porcupine and do this. Most of us, there's a lot of knowledge on having worked there in various stages in the company. We've, you know, w e also have people that we can hit the ground running and know where we wanna go, and we understand the language, we understand the economy, we understand the people. We know what needs to be done. I mean, this slide is here. I mean, again, I wanna. I know we had some meetings even last week and some people at BMO are talking about, well, you're investing all this capital. Why are you investing? Why is capital up? First and foremost, I wanna say. I mean, we've been saying this for Discovery. First off, our goal here is to invest and build. We're not here to build. This is not a dividend story. This is not a share buyback story. We're not, you know, Our return to shareholders is us creating, improving the value of the company, right? That's the return we're looking to build. You know, I mean, this was a PEA, right? In which shows, Again, the biggest thing is we show production going up and costs coming down. We already come this year, we said instead of, instead of 300,000 ounces in 2028, we're expecting to do that in 2026, right? We wanna move the production forward this way. Right? We're gonna grow production this way, we got Dome TVZ, we've got other things, we also don't wanna just do that, we wanna lower costs, right? We're looking at lowering cash costs, lowering all the sustaining costs. We need, you know, and we, you know, part of it is we always need to invest in sustaining capital because that's part of. That's responsible mining in terms of what we're trying to do here. I mean, that's, you know. When you look at that's gonna be value creation, and that's what's really gonna get us up there in terms of size. I mean, I can talk about this, but this slide, but it's really just talking about our the four operations that we're on now. We are gonna start. We are working on the Hollinger open pit this year, and we will do some more with it next year, and there's a lot of upside here. Hollinger is something that could be, you know, like could be a game changer again. It's a game changer again. If I were to show you the map of Timmins, and Timmins always talks about itself as being the city with the heart of gold, that's the heart, right? You know, we don't know what you're gonna find at Hollinger once we get at it. You know, this is Dome open pit. I think I'll let Eric and others talk about this more. The TVZ deposit, which is a refractory gold deposit, which by having the Kidd Met site now, which having a flotation circuit, we can, b y having a partnership with Glencore, although which is not committed, but now we have a path to take this from drilling and concept right through the commercial production and actually right to commercializing and selling, being able to get gold with what we've done now with Kidd Creek, et cetera. I think there's a lot of excitement there in terms of building new mines. This slide is really talking about a lot of things we're gonna try to, you know, we gotta do this year in exploration, production growth. We've got a lot of studies, deliver a lot of things to our shareholders, to everybody this year. We got the Cordero feasibility study. We We wanna upgrade the capital costs, et cetera. You know, a big goal is, you know, I know we only give one-year guidance this year. As we come into next year, we recognize we've got to start giving three-year, five-year guidance. There's a lot of concepts here, but we're doing a lot of work and over the next while to really mature the company and get it set up for our people. I think with that, I'll maybe leave it up to Alison to go through the financials and maybe provide a lot of the real interest in terms of what we're all about. All right. Thank you, Tony. Similar to what Tony has mentioned, during all of his comments, we first of all really closed out our 2025 in a strong position. We consistently met all of our commitments and really feel like we've started to build ourselves a solid foundation for the future, which allows us to be in the position that we're in today and make some of the announcements that we made earlier this morning. Importantly, we generated significant free cash flow both for the year and in Q4 of 2025, with free cash flow of $172 million over the year and $68 million during Q4. We continue to see operational momentum that we believe will project us into 2026 and allow us to deliver strongly and deliver on our commitments on a go-forward basis as well. Let's look at what our guidance looks like for 2026 and focus more on the future than the past. Alison, just one point. Yes. In eight months. Yes You know, we paid $90 million. I mean, we made, you know, again. We did. We. In terms of, you know, was it value back to the country and the people in Canada? You know, we paid taxes in the first year. I would add that that was really in two and a half quarters. We'll see what 2026 brings us, which should be exciting. In 2026, you know, Tony talked also a lot about creating value and for our shareholders. It does start with showing what we believe is solid production results from 260,000 to 300,000 ounces for the year. This is growth from our PEA case that we had originally published at the time of the Porcupine acquisition. 2026 will also be a significant year of investment. We have $120 million-$165 million in sustaining capital and $195 million and $235 million in growth capital, both at Porcupine. A lot of that spend will go towards the mill, the purchase of new mobile equipment, and some capital development on the sustaining side. On the growth side, we'll be adding some additional tailings capacity and improving ventilation, as well as continuing our pre-stripping at Pamour, our open pit mine that we're working to bring into commercial production in 2027. The $90 million-$100 million that we're showing for Cordero is largely made up of the land use fee, which is $70 million-$80 million of the amount that's shown there for Cordero. The land use fee is expected to be received after the receipt of the MIA permit, which is the environmental permit that's currently pending. The land use fee is effectively a zoning change on behalf of the organization, which will allow us to then subsequently begin mining after a construction decision. We have a significant increase in our exploration budget, much to Tony's comments earlier. We are intending to spend $55 million-$75 million this year, and Eric and his team have a lot ahead of them with 280,000 m of drilling that's planned for 2026. It's a lot of meters. Eric's gonna get into that later, and I'll let him touch on what those individual items and areas are that they're gonna be focusing on. Let's look at unit costs. Tony talked a little bit about how we want to reduce our unit costs on a go-forward basis. Unit costs in 2026 are intended to range from $19.50-$22.50 for AISC and improve as the year progresses. That's largely because our production profile is back half-weighted, and we are anticipating that a lot of our sustaining capital as we continue out of our 2025 momentum, our sustaining capital will be in the first part of the year, and then our individual unit costs will come down as the year progresses, when the amount of production comes into play. We anticipate that we'll be likely at the top end of our ranges in the first couple quarters of 2026, and then be towards the middle or the lower end of our ranges. Our ranges are a little bit wide this year, which you may have noticed on the guidance slide, that was purposeful given that we have this significant improvement in trajectory throughout 2026. Let's look a little bit more at our capital spend, and this is largely because we do have significant investment that we're making in 2026, for both our sustaining and growth capital. Over 75% of our capital is dedicated to replacing our trucks and mobile fleet, and for our capital development at the underground as well as investing at the Dome mill and the Dome tailings facility to increase our capacity and to improve the efficiency of our performance. If we look at growth capital, two of the largest investments are related to the TMA 6, including work to divide the tailings dam into cells. That has a number of benefits for the future that we anticipate seeing reflecting in our OpEx costs on a go-forward basis. That's largely because we will have some progressive rehabilitation that can take place once the partitioning is completed. The other key component of our growth capital is what I mentioned earlier, that is the pre-stripping at Pamour, as we work to build our Pamour mine into commercial production. Finally, we do have a new vent raise going in at Borden that will improve our overall ventilation and as well as some ventilation improvements at Hoyle. I have a few more details on this next slide of what exactly some of the capital spend is. I know, we did get quite a few questions about what's involved in the 2026 spend, so we wanted to make sure that we were providing as much detail as we possibly could about the investment that we have going forward. I think that, you know, what I would say as a sort of closing remark on the capital spend that we have for the year is that we truly believe this is one of the best ways to drive shareholder value, and that is by redeploying funds into our assets and continuing to enhance returns, lower our costs, and increase the efficiency across all of the properties that we own. I'm going to turn it over to Eric, who's going to talk about exploration and tell you about all of his 280,000 m. Okay, thanks, Alison, and good morning, everyone. As you know, we've been having a very active exploration program over the past year or so, and at the same time, we've been showing a lot of success, and we've been identifying a lot of new opportunities. I just want to let you know that we're feeling very optimistic going into 2026, especially since we're gonna be coming in with this little bit larger budget. Just to go over some of the highlights for 2026, overall looking at a much larger program compared to last year, 280,000 m in total, in general working on a variety of different projects, which are both in-mine, near-mine, growth projects, and also some regional exploration here. A lot of these projects are continuations of work that we started in 2026, but there are a number of refinements and new additions that you'll see, which we think will actually make it more exciting. I won't go through all the whole slide, but just to highlight a couple of the main changes, one of the big ones would be at Hoyle Pond. as focused really on one main zone, the S zone, which is the largest and highest grade zone at the mine. The program this year, we're going to be putting substantial effort into the mid and upper part of the mine, where we believe identifying new zones and new actual areas for mining to blend with the S zone will be very beneficial for the mine. Additionally, Pamour, we're going to be, there's still going to be a strong focus on the conversion drilling around the current pit resource, but we're going to see a much higher component of drilling along strike and to depth and trying to add new resources. You'll see in the presentation we're starting off with some of that work already. The other key things I think to point out would be Dome and TVZ. These are two exciting great growth projects which we just initiated drilling on actually in the late part of last year. We believe that they're gonna have a very substantial impact and aiming for new resource studies before the end of the year. A lot of exciting stuff coming up in the next while. Turning to the next slide, what we see here is just a satellite image showing, you know, the general Timmins area and distribution of our main operations. As you can see, Timmins is on the middle west side of the slide here. You can see Hollinger-McIntyre being located just on the edge of the city, and then Dome down to the southeast, Owl Creek, Hoyle Pond and Pamour about 18 km to the northeast. Turning to the next slide, what we see here is an overlay of the geology for Timmins. As you can see, it is pretty complex, so I'm not gonna get into the full details. I would point out that a lot of the bedrock in the area is underlain by a mix of volcanic and sedimentary rocks, with the core of the camp really being underlain mostly by volcanics and most of the sediments being on the outside. Additionally, I would point out that a lot of this rock has been strongly folded and faulted by multiple different deformation events, so creating a lot of small scale features and large, which can affect, you know, how we do the exploration in the area. Just to point out a couple of the main features, we have the Destor-Porcupine Fault, which sits down in the south part of the lower part of the map and dividing the dark and light green rocks. We've also got the Porcupine syncline, which sits in the central part of the camp. Finally, I think on this slide, I'd like to point out that in terms of the operations, we've got Dome and Hollinger-McIntyre on the west side of the camp, and these are located just north of the Destor-Porcupine Fault. You could see that just on the north and south sides of the Porcupine Syncline. Looking at Hoyle Pond and Pamour, we're looking at the area off to the east, and these are quite a different volcanic setting, each deposit being located on narrow bands of volcanics which are extending from the main Timmins camp. I guess my main point on that really is that all the deposits are quite different and different types of environments, but all good. Looking in, next slide, what we have here is a close-up of the Hoyle Pond and Pamour areas, which is a key part of our exploration program where we've been doing a lot of our drill meters over the last year and we're gonna continue next year. As mentioned, Pamour is located just north of the Destor-Porcupine Fault on a narrow band of volcanics here. Main target area here really is along the south contact of the volcanics, which is in green, and where it meets the sediments, which are shown in gray. Hoyle Pond is directly to the north, about 5 km or so, and the main deposit being located on a main flexure, a big flexure of the volcanic belt. Owl Creek is located about 3 km to the west and just east of a fault, which we call the Owl Creek Fault. Turning to the next slide, we see an image with the lower part of the Hoyle Pond mine and where we are targeting the S zone. Details for all the work here are shown on the slide. The S zone itself is shown in blue, and you can see it's extending from well above the upper part of the mine. You can see the workings which are shown in green where we're doing the drilling from. The main target here is really between the 2,100 and 2,300 level, which is the lower limit of the current resource. Turning to the next slide, what we see here are just some of the recent results from the drilling, which are really the second batch of results we've released from the work. As mentioned, these are from the lower part of the zone here. As we can see here, still continuing to get very high grade numbers, which are in the range of an ounce to an ounce and a half, and several intercepts over three to 5 m, which is pretty good for most mines. Turning to the next slide, I just wanna highlight some of the new target areas which we're looking at for this year. As I mentioned, we're gonna be looking at areas that are more in the mid and upper part of the mine. You can see it is an area where there has been considerable past mining. When we look at the geology a little closer, we see that there are still lots of areas where we have extensions of zones that were not fully mined and gaps where they didn't follow the trend. Potentially gold prices and just having other priorities at the time. We've got a bunch of about six different areas already identified, and we're gonna be starting drilling on these over the next couple of months. Expect to hear more results about that. Turning to the next slide, we go to the south part of the mine where we have the TVZ zone, which is a significant zone of mineralization, which was actually defined by past operators but on relatively wide spacing, and then, the work was stopped again for other priorities. The details for the zone and the development that was done on it are shown on the slide here. The main zone itself is shown in purple and measures about 600 m in plunge length, going from 900-m to about the 1,500-m level. The program that we have in mind here is basically just mostly an infill program, to tighten up spacing within the main part of the where it was defined in the past, also involve some extension drilling below the 1,600-m level. The program was just underway in the first quarter, you know, we were just starting to get results. We press released one hole, already had showed, you know, some fairly good potential here. We did intersect the main zone, 3.7, over about 7 m. A good surprise happened where we actually intersected about four grams over 30 m in an area that wasn't expected. Already seeing some upside right from the beginning. This is the zone we're gonna be targeting for a resource and update at the end of the year. We've got about 40,000 m planned, and it's already well underway. We've got two to three drills already down there and advancing it now. Just looking at the little bit broader exploration potential at the around the Hoyle Pond mine. This is a long section looking to the north and following the same geological contact which hosts the Hoyle Pond mine. As you can see, the large areas here that are unexplored, the little bit of drilling that is done is just very shallow and focused mostly around the Owl Creek area. In our view, this is an area that which has a huge potential in the future. Starting for us, we're focusing mostly on the Owl Creek area. As you might have, seen in the press releases, we've been having two drills working here already for about seven or eight months and having some very good success, in following up in our results here. Just to show you a few of the results that we have been getting at Owl Creek, it is a bit of a mixture. It's not exactly like Hoyle Pond. We do see narrow high-grade zones, but we've also seen some very broad zones, 4 g-5 g per ton of 15 m-20 m. Important thing is that almost every hole is hitting some good mineralization, and we've now got a footprint which is about 200 m by 600 m in area, which is a pretty good starting point. Very optimistic about this, and we're gonna be continuing with drilling throughout the year. Turning next, we're going to Pamour. Pamour, as you know, is already in operation, but at the same time has a very large resource already. Work we're doing here is really designed mostly to convert more of the resource and then expand it even further. As you can see on the slide here, most of the work that we're doing is centered on the resource, which is on the east part of the property and surrounding the historic pit that was mined there. Drilling that we've done is been done pretty much along the full strike length. In pretty much every area we've drilled, continue to see some very good results, including wide lower-grade zones, but at the same time, some very high-grade narrow zones as well. Things going very well here. Turning to the next slide, it just gave you an example of some of the results that we have seen here. As you can see, labeled from east to west, pretty much everywhere having good results, which are between 1 g and 2 g per ton over quite often 20 m- 30 m, with a real highlight happening on the far side, you know, over 1.2 over 140 m. This, some of the, a lot of these values you can see are near the lower limit of the pit shell. We're very optimistic that when we do our resource update, we'll be not only adding inferred, but or indicated, but we will be expanding. Going to the next slide. I just want to highlight that we started work on another area of the property here, which is about 1.5 km to the west. This is what we call Pamour West, or in the past, it was known as the Broulan. It is an area where there was a little bit of open pit mining, but is actually on the same geological contact as the Pamour. Very little drilling between the two areas. This was our first hole that we drilled. We've got one drill here already, planning to put another one. Through the year, we're gonna be having, o ur aim is to try and drill as much as possible, and we think this could make a very good addition to the resource here as well. Just to give you some visualization of the overall potential that we actually can see here. This is a long section to the north again and showing the current pit shell, but also results of drilling which have been done from underground from various different levels at wider spacing. As you can see here, the current pit is only goes down to a maximum depth of about 300 m and even 100 m on the very east part. There's a lot of drilling down below showing some very good results already. We're very optimistic that we'll be able to, with further work, we'll be able to extend this even further. If we zoom out a bit more, I think one of the things I want to highlight here is that you can see that the limit of the actual block model that we're using right now to create the open pit resource is actually truncated right at the limit of those green shapes, which are the underground workings. That, not only do we think that we can extend mineralization deeper where the current resource is, but then this is the big area where we're talking about towards Brule and the gap between. Turning to the next slide, we see the Dome, which as you know, is another significant growth project for us, where there's already 11 billion ounce resource been identified and where we've now got drilling started. The details of the project here are shown on the slide. As you can see, all of the resources pretty much centered around the historic pit, which is outlined in blue and captured by both the magenta and the red outlines. The current drill program we're doing, I would say is about 25,000 m this year. It's a combination of both. Its focus really is mostly drilling to gain confidence in some of the historic data, but also to upgrade more of the inferred resource. In the end, what we aim to come up with is a resource update by the end of 2026. Drilling that we've done so far is mostly in the south part of the pit. As you may have noticed from our press release, we've had a lot of good results in there from both within the pit and on the outside. Just to give you some other views of the project, you could see that this is looking to the north and showing the trend of the overall ore body, which is plunging to the east at about 35, 40 degrees. You also see the pit shell, which goes down to about 2,000 ft compared to the historic pit, which only went down about 1,000 ft. Another thing to notice here is that, you know, even below the pit, you can still see a lot of mineralization, which is identified here in yellow dots, which I mean, could, in our view, represent underground potential that we would have to still follow up at a later time. Turning to the next slide, just giving you another view here and showing some of the latest drill results we had in the south part of the pit. I would have to mention that this is an area that was not heavily drilled in the past, and we've had fairly good results both within the pit and on the outside. Very optimistic that we're gonna be able to add more resources here. Turning to the next slide, what we see is Borden. As you know, Borden is located about 190 km to the west of Timmins. In my view, a very substantial underground mine, as it's been mining there already for six or seven years. This is just the overhead shot just to give you a perspective on the overall zone that we're mining and exploring on. As you can see here in different colors, this is the overall structure. It's sort of plunging to the east and then downwards to the north. The east limit of the zone is actually what we call the Deep Zone 2, and on the very east limit of the slide. Turning to the next slide, what we see is some results from our current work, which is being done from drifts that are on the 585 level, drilling downwards. Easiest way to explain this is basically all the results are good here. In fact, many of the results we're seeing are double the grade of the resource. Very optimistic what we're seeing here. We've also seen some new results which are outside of the resource, so, and with very high grades. Overall, Borden, we see that as very good, coming along very well. If you look even beyond that, I'd point out that, you know, there is wide space drilling that is up to 1 km away along that same trend and does show that the mineralized zone is still there. Again, giving us a lot of confidence that, you know, we're gonna have a lot of success at Borden going ahead. With that, I think that concludes the Porcupine site, and I'll get Forbes to talk a little bit about Mexico. Yeah, thanks, Eric, and good afternoon, everyone. Obviously, very exciting growth plans we have in Timmins, but that should not overshadow the opportunity we have in Mexico with our Cordero project, the world's largest undeveloped silver deposit. Just to set the scene, we have a map here showing the location of Cordero. To the north is the city of Chihuahua, a population of 1 million people, a major regional hub, with an international airport. Just to the south of the project is the town of Parral, which is actually not too dissimilar from Timmins. It's a mining town. It was built around a silver discovery going all the way back to the sixteen hundreds. There's a population there of 120,000 people. There's a number of mining schools. For us, that's gonna be a key source of labor and suppliers as we move through into development and operations. I know cartel has been in the headlines in Mexico of late. I would just note in this part of Mexico, there has not been a history of significant history of cartel conflict. You can also see the number of large, long-lived operating mines operated by very well-known companies. We have Agnico, Coeur, Fresnillo, First Majestic, and Grupo México all in the region who've operated for a long time safely and securely. If we just zoom in now on the project itself, we have a really fantastic setup. You can see the landscape here, no population we're dealing with, very gentle flat topography. It's a very benign homogeneous landscape. From a permitting point of view, that gives us a big head start. If we just look at the actual site layout itself, what's really important is this project footprint is all on privately owned land that we actually own. For anyone who has followed Mexico, that is a very critical element, especially as you move into building a project and operating a large mine. Just some numbers to run through from our feasibility study that went out in the start of 2024. The reserve base here, just on silver alone, is a touch over 300 million ounces. That's actually more silver reserves than Coeur, more silver reserves than Hecla. Even with Pan American, if you take out Escobal, which that has not been in operation for close to 10 years now, we would actually have more silver reserves than Pan American. This is a huge silver deposit. To give you a rough feel for the cash flow generation that it's gonna produce, years one to 10, there's 14 million ounces of silver payable. Now, we do have by-products, predominantly zinc and lead. Over the first 10 years of the mine life, the revenues we get from those by-products are gonna cover all our operating costs, all our TCRCs, all our freight costs, and all our sustaining CapEx. If you wanna get a rough feel for what the pre-tax cash flow is gonna look like, the by-product revenues cover basically all those costs. The pre-tax cash flow will be that 14 million ounces of silver times by the silver price. At $50 per ounce silver, that should be about $700 million per annum over the first 10 years on average. Obviously, at current silver prices, it's more like $1.2 billion-$1.3 billion per annum. Obviously, huge amounts of cash flow this is gonna generate. At current prices, the IRR for the build is well north of 50%. We talk about putting money into the ground rather than doing dividends and buybacks. If you assume our cost of capital is in the high single digits, we have the opportunity here to take capital at that cost and invest it in the ground and generate huge returns by getting a +50% return on invested capital. I think this will be a very significant value driver for us. Also in the near term, when you look at the actual net present value of the project, $75 silver, I think we're up around $6 billion. If you use a silver price more around where analysts are right now, let's call it $50 an ounce, the net present value is probably more like $4 billion. I think when you look at the analysts who cover us, the rough multiple they apply is 0.3x to 0.4x NPV. I think the reason for that discounted multiple is we don't have our permit yet. I think once we get our permit, if you look at a developing asset that is fully permitted and fully financed in the silver space, it's probably more like 0.8x, 0.9x. When you look at that multiple expansion on an NPV, which could be in around $3 billion-$4 billion, I think that's going to be a very big catalyst for us once we receive that permit. We do feel we're close on the permit. We're through the legal, technical, environmental reviews. We're just waiting for that final approval. This is a project that's going to have a significant socioeconomic impact, not only regionally, but within Mexico. Not only in taxes, but also job creation and just our direct investment in supplies within Mexico. Our plan this year is really to work towards an investment decision. Towards the end of this year, we'll be doing an updated CapEx and OpEx exercise. We'll be doing a little bit more work on the water treatment plant, as well as finalizing our choice of power, whether we're gonna go with grid power or gas power generation. The objective there is by the end of this year, make a final investment decision to go ahead with the project. The majority of the development capital will go into the ground in 2027 and 2028, with the first silver potentially being produced in 2029. That covers everything on Cordero. I'll just hand it back now to Tony for some final remarks before the questions begin. It was a lot more fun to stand up than get a chance and. You know, you know, we could talk about. Hour talking about exploration. I mean, you know, you can see and the upside in terms of what we do in exploration. We could spend a half an hour talking about, you know, all the synergies in Porcupine, all the growth initiatives in terms of investment in the three existing mines, plus the investment in the mill and the ability to build Dome and TVZ out of what we've acquired now with picking up the Kidd Met site in terms of what the growth is there. We could talk a lot about, like, initiatives in the mines to reduce costs. There's a lot of exceptional value drivers for this company and, you know, lots to do. You know, we got this slide here. I mean, and again, it shows, you know. Talk about what we're trying to accomplish, but it doesn't show now the Kidd acquisition, which with Kidd enables a lot of this happening, with our permit in Mexico enables this happening. We're, you know, strong balance sheet, fully financed, lots of discipline in the company, and lots of potential growth going forward. Lot of value drivers. I think we got all the value drivers that you can look for in this industry is here with Discovery. You know, I guess maybe the other part is there's a lot of energy and it, you know, the value is made by people. There's a lot of people with a lot of knowledge, a lot of energy and a lot of motivation to get things done. I think it's pretty exciting times. You know, we, you know, let's just say, you know, keep watching. I think we've got a lot of new stuff coming forward as we keep putting the whole picture together in terms of vision of what Discovery's gonna be. Anyway, thanks. Hopefully we didn't take too long and didn't bore anybody, and we're happy to take some questions. I hear you. Hey, you. Hey, Ryan. Hey, Ryan, Hey, Ryan, did you mention your dad when you were coming in I think this morning? 'Cause Tommy came to me early 2024. He used to micro Diane in the map of that business. He asked me why the Poles are buying lots of gold. Hmm. I remember what your dad told me. Years ago, he used to be in the resistance fighter. I don't need a microphone, do I? No. Anybody hear me? No, we are on the webinar. Oh, you wanna record it? Well, we are on the webinar, so leave it on. Okay. They told me, your dad told me that during the war that the only way you can get out of Poland was either had to have gold or you had to have diamonds. Back in early 2024 when Tommy come to me about the Poles buying a lot of gold. Matter of fact, in 2024, the Polish bought more gold than any other country in the world, more than Japan, China and India, their government and their individual purchasers. That was because Russia moved into Ukraine. There was uncertainty with that at that point in time. Now we have other issues in the world going on, mainly Trump, which gold loves Trump because every time he talks, the gold goes up. My question to you is that, congratulations on purchasing Newmont at the time that you did and expanding Timmins now with Kidd. On the silver side, Kidd, the Kidd Mine is the second-largest silver producer in Canada just behind Hecla. I get to see the numbers every now and then. So with your Kidd operation, is there plans to expand that recovery of silver? Of course, then also with the mill, you have an autoclave that's been mothballed for lots and lots of years at Kidd. With your TVZ discovery or that ore body being refractory ore, is that what your plans for the future is to return that autoclave on and produce gold from refractory ore? Thank you. Thanks, Tom. You know, in terms of, just getting back to the first thing, you know, my, you know, in terms of my father coming over to Canada, he would say, there's only two things you should invest in, and he mean, and, you know, you can look at a lot of things even today, but he said gold and land, right? Right. That's, that. You know, I know a lot of stuff's happened, and there are all kinds of places to invest, but. Then I remember with Diane Francis when we were building Lake Shore Gold, and I remember one day getting upset about the stock market and all the trials and tribulations we have trying to build a mining company. She said, yeah, but imagine if you're in any of the other space, you have a product that always stays relevant. You know, gold will stay relevant for the next 100 years. Next, you know, maybe definitely for the, you know, to well outlive us. we, yeah, we do have the right commodity. In terms of the Kidd Met site there, Tom, there's four circuits. I mean, that was a well-built operation. They had four circuits. they call them A, B, C, and D because, you know, when Kidd was done there was, you know, four different types of ore. They could get high-grade copper ore, copper zinc ore, high-grade zinc ore, zinc lead ore. they had the four circuits. Over time, you know, the a s the mine progressed and you went, you know, they lowered production capabilities as they went deeper. They closed down the A circuit, so that's sitting there right now in care and maintenance or, you know, wasn't put away greatest, but it's there. The B and the C circuits, they use. They don't need both of them to run the current Kidd operation, but by using them, your utilization of the plant is really good and maintenance. The D circuit was a flotation circuit, was converted to a nickel circuit. That D circuit, we look at it as being you know, being perfect for using to create a flotation concentrate out of the refractory ores, and then look at the next step. What do we do? Do we put it in an autoclave? Do we go BIOX? Or do we ship a con-gold concentrate to the Horne Smelter or something like that? You know, we intend to do that, and with the A circuit, we intend to. You know, we're gonna have to pull out the flotation part, we're gonna have to change the circuit in the mill and put in a conventional CIL gold circuit for the Pamour run of mine. It'll be one of. You know, in terms of a metallurgist and mill operators, I mean, it's gonna be one of the world. A different, one of the very unique plant, processing plant where you can have conventional gold, you can have conventional base metals, and you can have refractory gold and all the stuff. It, you know, in terms of people wanting to learn metallurgy and get, you know, multiple discipline understanding, it's gonna be a pretty exciting plant. I look at it. Okay. Any other questions? Okay. Tony, can you talk about the closure liabilities? Talk about the liabilities that come with Kidd and how you're gonna deal with those, please. Yeah. The closure liabilities at Kidd, that's a good question. The Kidd mine itself has a closure plan which would involve, you know, there's some waste rock around surface, filling stuff back into the pit and letting the mine flood, tearing down buildings, et cetera. It's about $78 million Canadian in terms of the plan. I mean, our goal is to keep looking at Kidd and what to do there from an investment point of view in terms of moving that forward. What doesn't get included in those numbers, those are costs. Those are costs assumed that you would be doing them when everybody's closed, so it's got full carry of G&A on it, and it doesn't include, t here's probably about $50 million, maybe $100 million worth of equipment in the mine if we needed to take, whether it's electrical gear, whether it's you know, trucks, drills, jumbos, et cetera. There's value there, but that's the Kidd. The Met site itself has got about a $34 million closure liability, and that's mostly just tearing down buildings, et cetera. Those are the two main liabilities we take on initially. The Kidd, the tailings area, right now there's a closure liability in the tailings area, but we've worked with Glencore to say, they're gonna retain the financial assurance for that for two years and then they're gonna indemnify us for up to three years for anything happening around that tailings facility while we you know... They're gonna fund the first $75 million of work around the tailings facility to set it up. Then what we've said to them is if we're able to then get that tailings facility permitted to now put gold tailings on it, which the closure plan for that tailings facility said if you get. The best thing to do is to cap it with gold tailings. If we could then put gold tailings on there and, you know, right now you're to lift it's about 50 million tons of capacity there, which is, you know, more than enough to take Pamour for another 20 years, you know, or, you know, or maybe 10. Sorry, maybe we'll go on and increase Pamour's productivity maybe to 10 or 15 years. There's further expansion capabilities there with that tailings area. In a nutshell, yeah, there's closure liability. Somebody might sit there. It's like we've done with the Porcupine, we've taken these liabilities and we actually turn them into assets, right? Got it. Just one quick follow-up. Will the Kidd Creek mine, when that shuts in a year or so, I understand there's about one year's life, will that workforce then transition to mining gold for Discovery or will that be a closure plan? No, that's, that'll be part of. Our goal is that, you know, you got people. We have lots of openings and we have lots of ambition to grow, so I think it's gonna open up new opportunities for people. Definitely people working in a processing plant, I mean, they're gonna be busier than ever and then the people at the mine and et cetera, there's technicians, there's engineers, geologists, we're gonna have work for them and operators. I think, you know, there'll be work for people as much as they want, and we're probably still gonna need to hire people. Go ahead, John. Eric, I'm thinking about the slide number five. Maybe if you could put that one back. The scale was 5 m to an inch or something for. This one? Is this the one you're talking about? For Timmins, and 10 km for Kidd, so it makes Kidd look small. How many sq mi of land is the Kidd package versus the Timmins-Borden package? Have you doubled your land? At the top of that slide, where is the town of Cochrane and the Detour pit? On the Kidd's metallurgical side, where is the town of Matheson? Matheson is just to the right of the mill. I think the top of the slide is close to Cochrane or Detour pit. That's probably Matheson, and Cochrane's probably right up here. Detour. Cochrane's about. Detour's off the map, but- Yeah Cochrane might be here. Cochrane's maybe. Detour's up here. Is this doubling your land package? Pardon? Does this double your land package? Oh, more than doubles the land package, I would say. Kidd started in 1966. This is townships. These are townships that have never been drilled. When Kidd started in 1966, gold was $35. How many college students are you gonna have this summer doing geochem grids all over this doubled land package? There's numerous showing previous drill holes and all throughout, scattered throughout here on this package. Remember, this is the best one of the largest metallurgical volcanogenic massive sulfide deposits in the world and, you know, where's the other ones, right? This excites me most of the transaction. Switching gears, I did the best literature search I could. There was one fatality in 2001, one in 2007, one in 2011. Each of them were someone in their 20s, tragically. It's gone 15 years without a fatality, going down to 98,080 ft. Once I went down a mine in South Africa that lost one a week 30 years ago. Kusasalethu of Harmony is the renamed mine. Mm-hmm. That mine has gone three years without a fatality. It used to lose one a week. The improvements in safety technology are great. How deep do you think you can mine? I think Glencore a year ago reported 133 million tons of resources, 1% copper, 3% or 4% zinc, I think 3 ounces silver. Can you go to 12,000 ft? Can you go to 15,000 ft? Do you wanna use those workers for TVZ and Owl Creek? How do you think you do that? Well, we're gonna assess that and, you know, we've looked at it. I mean, you go down at Kidd, yeah, it's deep. You know, Pierre, I mean, what's your thoughts, Pierre? Well, as you just mentioned, Kidd can go really deep. In terms of priorities, where we could make a big difference right now, you heard Dome, you heard TVZ, you heard Pamour West. We heard Hollinger as well. Through the mill. Right. At the end of the day, there are studies we're going to undertake to see how deep the resource is going and how deep we will want to go there. If you just look around, LaRonde is at 10,000 ft, give or take. That should give you probably the first stretch target. They did a feasibility study on Kidd Creek mine. Yeah Which would be another 100 m, 100 and some odd m. Runs till 2035. Kidd Mine 5B runs to 2045. I mean, there's a lot of infrastructure- Mm-hmm And we can, we'd look at that. You know, at the same time, you know, you gotta make sure you can do things safely, right? Like, I mean, the other part is economically, right? It is far down there, right? How is the infrastructure supported? You know, we're gonna explore. I mean, there's some significant exploration upside higher up in, at Kidd again, you know, maybe a little bit off to the side 1 km or 2 km. You know, we think there's a, there's some. You know, there's a lot that can be done there here, and we're gonna look at it, right? By the way, if, s orry, when you talk about safety, if I were to show you the Kidd safety stats over the last five years, they're second to nobody in the world. It's safer to work at Kidd underground at 10,000 ft than to work at Walmart in Dallas, Texas, right? So. Concerning Cordero, where maybe the permit comes any week, you did the detailed engineering over two years ago before we had Timmins as a distraction. Wheaton paid $4.3 billion down for 75 million recoverable ounces, revenue ounces, not counting inferred. Reserve measured indicated. That's sweet. I'm just brainstorming. One way you could finance Cordero would be if you went to Glencore that mines, used to have 12 zinc mines, or Trafigura that owns Nyrstar, and ask them to market the concentrate so you don't have to think about lead and zinc. You just run trucks and mills. Maybe they pay you $1 billion for 20%, which is a discount to what you would get if you did a stream with Wheaton. That's the second option. Thirdly, you have a slide with all your neighbors. Minera Frisco, Carlos Slim, he's a local Mexicano. He can manage the culture, has many rich attributes. There's Grupo México, Peñoles, Fresnillo, local Mexicano partner for 20%. I'm sure there's 30 Toronto firms that'll raise $800 million for you and charge $40 million in fees. I don't wanna take anything away from my buddies in Toronto or Vancouver. If you, maybe you'd only have to pay 0.5% if you sold 20% of the mine in an M&A deal and had a big auction. How do you think is the most convenient way to finance Cordero? I don't think you need to issue a share and it finances independently. Do you want someone to market the lead zinc? Do you want a Mexicano to talk to the Bandidos? Do you want a financial partner to pay top dollar? I like a chicken chimichanga any way I can get it. You know, a lot of good points, and Alison can speak up something. Definitely it's financeable, definitely very valuable project. Yeah, we've been having good talks with Glencore, and yes, that's option. I think the biggest thing is we get a permit. I don't know, Alison, you wanna give a little color there? Sure, John. We have explored all the options that both you have brought up and that Tony just mentioned. We're getting incomings often about Cordero, and I think that, you know, as we look across the collective needs, not only at Cordero, but at Porcupine and also at Kidd potentially, we wanna make the best collective decision at the lowest cost of capital for the organization. We have also, to add onto your list, looked at a high-yield debt offering, which is at rates sub 7%, for a $400 million-$600 million offering, in addition to what you just listed off. No final decisions yet. We'll consider all of the things on the table and try to come up with the best value proposition for the organization. Do you think it's about the cost of capital or simplifying management so you don't have to market lead and zinc, and you have a local partner that manages the local culture? Yeah. It's all of the above. Yeah. All- It's all of the above. Yeah. Yeah. Yeah, I learned as we work around, you know, different jurisdictions in the world, you know, in the end, the people. Actually, we've, you know, we've been to Mexico. The people we have in Mexico, they know their stuff. We don't have to go there and tell them what to do, right? If whether you're in Australia or you're in Chile or you're in Peru or you're in Nevada, you know, using the locals as much as possible, that's the benefit. We're talking about the benefit we bring to the table in Porcupine because we're a bunch of locals. You know, we gotta, you know, follow the same rules that we see that's value created. We're not gonna run with big egos. We just wanna create value for shareholders and demonstrate that we can be really good responsible miners, and that open-pit mines, whether, they're in Mexico, can be done properly, responsibly, and generate a lot of prosperity for all stakeholders, right? If I could bother you for one more. I'm assuming the slides got done Thursday or Friday during business hours. Sometime over the weekend, you settled with Glencore's attorneys. Yes The Kidd Creek press release today. There's four categories of CapEx at Kidd Creek that you haven't had time to update. Eric's gonna need money for college students to do the geochem grids to figure out where to drill. You're gonna have exploration money, then you're gonna have tailings CapEx, maybe expense, then you might have mill CapEx, and then you've gotta have underground CapEx because they stopped CapEx last year for equipment and development and whatever pre-stressing you have to do for safety. To one significant digit, could you make a guess as to what each of those four baskets might be? What are the $1 million or $10 million, and just so nobody's afraid, there's a $100 million basket. Well, we, you know, we'd like to try to ramp up the exploration here. We wanna do some exploration underground at Kidd. We can probably spend $20 million to, and maybe into 2027, $30 million-$50 million exploring here 'cause you got a big prize, right? If we only find one 20% of the Kidd deposit, we found a major new deposit, and, r ight? That's one. The Kidd Mine itself is in running in 2024 was the most profitable mine within Glencore, single mine. It still is in 2025. Still was in 2025. It's, i t would generate a lot of free cash flow. If, n ow, depending on when we take it over and we run, i f we run their current plan, we can still bring in, you know, plus $50 million-$100 million depending on pricing of, from Kidd. You can invest that money back in there in terms of capital. You know, the Kidd Mine 5 capital was upwards of about $400 million to get it built if you did it their way. We probably would do it a little bit of a different way. There is that. The tailings area, the first bit of this work is going to be funded by Glencore, up to $100 million, $75 million USD, right? It's going to create a lot of synergies for us 'cause it's going to, w hat we're gonna do for Pamour, for the Pamour waste rock right now that we're hauling to someplace, actually haul Pamour waste rock to the property line, then they can pick it up and put it in the tailings area. We don't have to pay. Our haulage maybe will be the same, but we won't have to pay to store it and do pads. We're probably gonna get some benefit for that in the first year, then we're gonna be spending money here. We're spending $140 million in our tailings facility in 2026. We're gonna spend about $120 million in 2027 again. You know, tailings areas cost money. We're gonna be going here to build a new tailings area, and we're probably gonna have to. You know, we're definitely gonna invest some capital in building, you know, putting in a gold circuit over at Kidd for Pamour. It will drop costs, et cetera. You know, you know, some of it is more being put in line for 2027, but, you know, you can see maybe it'll be neutral in 2026. The tailings area is somewhat neutral for us in 2027, but we will. We do intend to wanna start developing and putting some money into the Kidd met site definitely. You know, we'll assess the mine site. It could be orders of, you know, definitely $50 million of exploration, could maybe orders of $100 million to $200 million on CapEx for milling and maybe keeping the mine going and/or not. The mine, as it's running, the mine can be somewhat, at this price, could be somewhat self-supporting itself in terms of capital. A lot of things to work on still, right? You know, we, you know, we're gonna wanna put money to work. If we can build a new mill at Kidd, we, you know, we won't have to bring in power, we don't have to bring in water, we don't have to wait for a lot of permits. We have a tailings area that we can just do normal work on that we're doing at tailings area. It, you know, we got a big head start on a lot of things. We are gonna have to invest capital over the few years to build a new mill there. Did I answer the question without answering the question? Okay, I think we're seriously eating into our lunchtime now. We have a question from the audience on why is the company called Discovery Silver. Would it attract more investors if it was called Discovery Gold? You went right through all of them and came up with that one, didn't you? No, no. That's a question, yeah. I mean, our name was Discovery Silver, right? It used to be called Discovery Metals. Yeah, yeah. They changed it to Discovery Silver to get the silver. Hey, you know, we had a lot of discussions. I mean, you know, when we came up with the, you know. You'll see that a lot of branding says Discovery, and then well, on the V it's got gold and silver there. Maybe we're gonna have to put some. Maybe we'll have to go back to maybe Discovery Metals, right? That way. We still own that name, right? I'm sure we do. Yeah, yeah. You know, like, you know, in terms of Discovery, like, in terms of, well, Eric's talking, we got. We can discover not a lot of new gold and metals with drilling. We're gonna discover a lot of new value for through bringing in costs, and we're gonna discover a lot of new value by building some new mines. It's a pretty good name. It's. Whether it's silver or gold or metals, right? Or mining, right? You know. We don't wanna lose the DSV in our ticker symbol. That's somewhat important to us, right? Well, we went through that exercise last year. Yeah, we did that. Right? We dealt with the front end of the name last year and decided to keep it. That way regardless of what we do with the back end of the name, DSV will always be our stock symbol, so. One question from the webinar. Any talk about listing to the Nasdaq or NYSE? Yes. I mean, that's part of our goal, to work that. Jennifer, I don't know, maybe you wanna answer that. Yeah. We're looking at that. We're looking at that for in the near term definitely. We're getting some of our internal controls and things organized so that we could be in the best position to list this year. Yeah. Likely NYSE, not Nasdaq, but- Yeah Yeah. It is part of our goal for 2026 to. You know, we wanna. It's sort of like I, you know, I'm in simple terms, you know, I mean, we need to attract investors and shareholders, right? You know, and you go out to market, and how we say, you know, even walking here, you know, if you didn't want a Tim Hortons coffee if you needed one, you walked by three Tim Hortons just coming here. You need to be out there and active, and so we intend to do that, yes. Okay. Does anyone want some lunch? Listen, thanks very much everyone for coming. This was. As I mentioned at the beginning, we really enjoy meeting with the investment community. We're out there marketing a lot. We think we have a good story to tell that just got a whole lot better with today's announcement. Stay tuned, because there's a lot more news coming. Thanks very much.