Thanks a lot, Rob. I appreciate that. Welcome, and I want to share with you a compelling story briefly within the twelve-minute window here, called Mandalay Resources. I'm Fraser Bourchier, as Rob said, President and CEO for the last 15 months. I caution you, of course, to read forward-looking statements for the caveats I make around any future cost and production numbers. So in summary, our company, summarize it as follows: We're diversified, meaning we're not one asset, we're multi-asset, two assets. We're a producer, we're not a developer. No big capital builds. We have gold and important critical minerals. We're Tier 1 jurisdiction, Australia and Sweden. We've changed the executive leadership recently. I brought in a few more additional members I'll speak to. We've replaced gold equivalent production in the past for the last 10, 15 years since Mandalay's been around. Strong free cash flow this year, $5 million every single month. We have a very clear, simple vision: to be a key player in the current sector, junior gold producers, to be part of that consolidation effort, in addition to our internal growth, resulting in shareholder returns of note. On the left here, in terms of the leadership team, there's myself. I've brought in a team that has a track record of both growth in organic and transactional growth. Myself, my history, Emperor, that became Intrepid. I worked with Nevsun as we led up to the Zijin $1.9 billion dollar takeout of Nevsun. I was at Detour just before the takeout of one o f $ 4.9 billion, Kirkland over Detour. Scott Trebilcock, who I brought in, was instrumental in the Zijin deal with Nevsun. Hashim, our new CFO, both Jaguar for 2015 on, resulted in a tripling of that share price, and then recently, he was the interim CEO at Nova Royalty, that led to the transaction with Metalla Royalty. And on the right side, excellent, strong institutional knowledge. Each of those individuals, the COO, the VP of Exploration, Director of IR, Business Valuations, have been with the company for at least 15 years. So a good combination. In summary, as I said, we're a producer, no encumbrances, no streams, no royalties, no debt. We produce close to 100,000 ounces a year with a margin at today's prices of over $1,000 an ounce. All numbers I speak to, by the way, are always U.S. dollars. We're next door to Fosterville in Australia, next door to Boliden in Sweden. So we're in the shadow of giants in very prolific regions. This is our share price growth. In the last five months, it's doubled. Analyst consensus would say that's taken us from a PNAV of about 0.3-0.6. We still think there's a lot of room to go as people start to understand the story. 25% of our market cap is in cash. Our market cap in Canadian dollars, one time I'll reference that, as we trade on the TSX. Today is actually CAD 2.92-2.93. It's up again, versus the CAD 2.84 there. U.S. enterprise value, north of $170 million. Very supportive shareholders support the growth strategy. These numbers speak for themselves, $48 million in cash at the end of July. It's north of that now at the end of August. We paid off our $35 million revolver that's fully undrawn, good for another two to three years, so zero million in debt. We've generated over $200 million in operating cash flow in the last three years. In this year, in the first half of the year, $54 million in operating cash flow. Key takeaway on this slide is really sharing the exploration spend and what's happened at both our operations. Putting our money where our mouth is on our vision, which is operations, organic exploration, and non-dilutive M&A transactions. This is doubling the for the organic exploration. Used to spend about $7.5 million a year. Between both operations, we spend 12 million-15 million in organic exploration with a history of very cheap replacement of resources. $42 an ounce at Costerfield, that's less than 2% of the gold spot price. $15 an ounce replacement at Björkdal, that's less than 1% of the gold spot price. So we mostly replace what we produce since being at Björkdal, Sweden in 2014, the last 10 years, or Costerfield since 2009, the last 15 years. Key takeaways at Costerfield, I split it down the middle, 50/50, about 50,000 ounces a year. Our sustaining capital is 25. Really, the key number to look at, at the bottom is, let's call it $1,200 an ounce AISC. That's over 100% margin. Free cash flow that we generate. We can generate operating cash flow this year, about $60 million at Costerfield, despite the small footprint size of that operation. We also have antimony. You know, whether that comes in the form of the smelters and trioxide or sodium antimonate, that's a critical mineral. In fact, the Critical Minerals Institute just recently, last year, identified it as one of the 14 most elusive critical minerals. Traditionally, flame retardant and used in lead-acid batteries, but there's been a massive boom recently in solar panels. It helps remove trapped air bubbles and semiconductors, and it's always had a military use, right back to World War I. Sadly, that use has elevated in the current world affairs. What that's happened is this price has exploded. It's gone the highest price raise in the last two, three months than it ever has since it was recorded in 1980. That's partly because of supply shortage, depleting reserves in China, and China export limits. China and Russia produce 82% of the world's antimony. We, even though it's not our main driver, are the largest, most significant Western country producer of antimony. So it's gone from $11,000 - $24,000 an ounce, and it adds to our bottom line in a healthy way. Costerfield, lots of numbers here. I encourage you, we put out a press release this morning of some of our drill result intercepts. Really, in those blue, if you look at some of those blue lines or blue boxes, I mean, that are in that press release, this is where we're further expanding the resource. 58 grams gold, 18% antimony. So on a gold equivalent basis, that's even a bigger number, over 0.8 m. We mine at about 1.5 m- 2 m width, so it doesn't take much to understand, even on a mining diluted, what those numbers would be. You can see other ones, 550 g, and on the box on the right. So this is really all around Shepherd and Cuffley, Cuffley Deep, Cuffley North, which we're very excited about for future reserve replacement. Again, Björkdal, key takeaway, gold only, no antimony here. However, about 47,000, 45,000 ounces, similar capital, and it's got a margin of over 40%. Operating free cash flow here will probably be north of $30 million. And again, an isometric view of the ore body. That blue sheet there you see just represents marble. This is a massive system, over 3,000 veins. The system's gonna go on likely for a long, long time. It's been operated since 1988. We switched underground in 2019. The real focus area for us here, which we have the luxury of doing, is focusing on the higher grade. So it's not quantity, it's quality here. Below the marble tends to be much higher grade, both the Eastern Zone and this Northern Zone you see down at the bottom. The Northern Zone in our previous exploration press release, we speak about that. That's what has us excited, but we also have, you know, lower grade, big volume, north of the marble, as in the Aurora Zone. So really, in summary, keeping these short, Rob, so you got time to stretch your legs in between. You might get a lot of questions on antimony. Excellent. Yeah, my last slide here before the questions come up. Number one, again, to recap: we're a diversified producer, multi-asset, multi-metal. Number two, we're in Tier One jurisdictions: Australia, Sweden, no sovereign risk. Number three, we have a 10- 15-year history of cheap resource and reserve replacement. Number four, we have no encumbrances, no streams, no third-party royalties, no debt, and a $35 million facility. Number five, we're executing on our new strategy as we pursue our vision. And number six, over $50 million in cash and growing, 25% of our market cap. And my final point, number seven, I have a proven new growth-type team, executives that have a history of that and growing the share price, and we hope that you, if you're not already shareholders, will join us on that journey and invest. Thank you very much. Thank you. I think we do have some questions, so stay where you are. We have one at the back. Hey, congrats, Fraser. What percentage of your revenue at Costerfield comes from the antimony? It was initially 15%, but as a result of the share price, it's north of 25%. Yeah. Could you elaborate on the CapEx spending? What portion sustaining, what portion growth? Yeah. Of that $20 million-25 million at each location, let's talk about Björkdal first. $5 million is growth, that's exploration. The rest is between infrastructure, tailings dam development, et cetera. At Australia, of that $20 million-25 million, much more in organic exploration, probably about $12 million-13 million, and then the other half of that is mainly infrastructure, some development, and a tailings dam that we have a permit for that we'll build, that gives us another 7 years there. Chris. Fraser, apologies if I missed it, but can you just tell me the mine lives on those respective assets? So the Björkdal mine life is eight to nine years, consistently hovers around that. At our last reserve at Costerfield was three-and-a-half-year mine life, but I will share at Costerfield for the last 15 years, we varied between two to five years. It's hard to double it based on access, but it replicates that two to five-year mine life at Costerfield. Are you an owner-operator or a contract? We are owner-operated. There are a few small services, like trucking at, in Björkdal, that we contract out, and some drilling at Costerfield, but we're mainly owner-operated. One last question. The productivity between those sites, given that you're an owner-operator? The productivity? Yeah. In terms of cost? Yeah, Scandinavia, Scandinavia versus Australia. Yeah, so, that's a great question. I mean, they're both fairly productive. In Scandinavia or in Sweden, it's a very efficient workforce. You can imagine at 1.6 g, 1.7 g a ton on a 4,000 ton per day mill, that we make a decent margin on that. Low power, very engaged, workforce. Whereas in Australia, it's a smaller footprint, it's 1/10 the size, but 10x the grade. And that group have been mining there. You know, we have a lot of interplay between Fosterville and Costerfield, so those employees are, you know, the Bendigo-Ballarat Belt, as you know, built the city of Melbourne, 50 million-55 million ounces. There's over 150 years of mining history in Costerfield and that area, so they're very knowledgeable operators. What's your, what's the price, the sensitivity to free cash flow with the antimony price? It's like for every dollar a kilo or goes up, what's the sensitivity? So let's just say the antimony price, all of it's gravy for us. It's fantastic. So when it goes up, it adds to the bottom line. We don't build our models about relying on that, even though it's gone from $11,000- $24,000 a ton. The gold price, though, as you saw with our margins there, let's call it $1,700 at Björkdal and $1,100-$1,200 at Costerfield. Okay, that's great. It's turning into an exciting story. Okay, thanks so much, Fraser. Thank you.
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