18 The S3 expansion at Kansanshi reached commercial production in December, and we expect deliveries to Royal Gold to grow over the next several years as the plant ramp up to the full 52 million ton per annum capacity. Based on current guidance in the technical report, we expect 35,000 to 40,000 ounces of gold per year to our account during the first ten years. This positions Kansanshi as a major revenue driver for Royal Gold. Let's turn now to Xavantina, a high-grade underground gold mine that we entered in 2021 through a 25% gold stream. The mine has a current life through 2032 and the operator Ero Copper, has continued to execute well. When we acquired our stream interest, we saw clear upside potential driven by a highly prospective and under-explored land package and an underutilized mill. Since then, improvements have been strong across the board with a longer mine life, higher annual production and increased reserves and resources. Ero is focused on both extending mine life and discovering new vein structures. Within the next three years, they are targeting an extension to a 10-year life of mine. Like Cortez, Xavantina is an asset where we saw significant upside that wasn't immediately clear to the market. We are pleased with how Ero has continued to advance their plans in 2025, and, in 2025, we increased our investment and expanded our area of interest, reflecting our continued confidence in the upside potential. Next is Red Chris, a producing copper gold mine operated by Newmont in British Columbia's Golden Triangle. This is a long-life asset with a mine life outlined to 2050 with the introduction of underground block cave mining. The open pit is relatively modest compared to what the underground could become in the future. Newmont expects to complete the feasibility study for the block cave in the second half of 2026, and they have allocated $160 million in development capital this year. They expect to take a development proposal to the Board in the middle of this year. Assuming a positive decision by Newmont, the project has significant support within Canada and the Canadian government have designated the project as being one of five projects of national interest. Once developed, the block cave could transform Red Chris into one of the most significant long-life copper gold projects in North America, and our royalty covers the entirety of the resource that has been defined so far. That covers the assets where we see significant growth expansion and extension potential. I'd now like to turn to some of the assets where we expect new stream revenues in the years ahead. Platreef is a world-class large-scale PGM asset in South Africa operated by Ivanhoe Mines. This is a multi-decade orebody with exceptional thickness and continuity, and first ore was processed in December of last year. Operations are now ramping up steadily as the mine advances through its stage development plan. Royal Gold holds a gold stream, and, when the mine fully ramps up, we expect contributions of 15,000 to 20,000 ounces per year into the 2040s. Platreef is being