30 Finally, just to round things out of Khoemacau, we made our investment there in 2019. We included an incremental stream alongside of our core stream or base stream. Then we provided a debt facility just to round out a financing package for the operator. That was really to be used at the operator's option for supporting mine development in the case where additional capital was needed during the build, and that actually was the case. They drew down all those incremental funds as well. Let's move to the next slide, and we'll use the next two slides to make a couple of points and looking at the returns in our portfolio. We'll start with this slide. This is the internal rate of return or IRR for six of our largest single asset investments in the portfolio. The returns shown are Scotia's estimates at the time of the investments -- those are the blue bars -- and then they've been updated for January 2026 -- that's the gold bars. The returns shown -- we'll get to the returns in just a moment to take away. But I think what the overall analysis demonstrates is the value that's created in our sector over the long term and just the power of the business model. We thank Tanya and the Scotia research team for providing the data set to us. But you'll note that the returns were moderate at the time that these deals were announced but have increased materially since then. The question is, what's happened? What was driving that? Certainly, one of the reasons is commodity prices have changed. But another key reason is while we spent months assessing a project and its potential leading up to a transaction, the market generally has very limited information on these investments that we make. Limited information results in moderate day one returns in our view, as assessed by the market. But as more information is available to the market, let's say there's an expansion or an extension of a particular project that comes out, the market absorbs that and the returns increase as a result. In most cases, in our experience, it takes developments that may occur over years for investment case to be fully understood by the market. And again, another good example of that is Cortez where in 2022, the royalty transactions, the two deals that we did were met with a lukewarm response by the market. But fast forward to last year, Barrick released the preliminary Fourmile PEA results, and you can see the returns, the expectations have grown materially as a result. I think today if you ask analysts, I think they would agree that these were good transactions and that we've acquired some of the best royalties ever created. Move to the next slide, which is a different way to look at value in our portfolio, and it covers the same six investments. The blue bars show the size of the initial investments that we made and the dark gold bars show the cumulative cash we've received for each of these assets going through to the end of 2025. The light gold bars show the current consensus NAVs for these projects as well. They generally don't include resource conversion. They're generally based on life of mine reserve type calculations as well. So, there should be more to be added there in due course.