16 advance a multi-decade plan for the Cortez District as Fourmile, Robertson and the continued ramp-up at Goldrush each contribute to this growing pipeline. Note that Fourmile is not included in the graph as it currently resides with Barrick outside of the MGM joint venture. The production mix is expected to evolve as new deposits come online with the potential for consolidated operations, extending to 2052 and beyond. Furthermore, planned conversion of resources to reserves could extend open pit operations to at least 2038. Fourmile deserves special attention. We have full coverage of this deposit and an effective GSR of 1.6%. And Barrick has described this as one of the most significant gold discoveries of the century. This is not hyperbole. Fourmile is already shaping up to be one of the most important projects in Barrick's future production profile with preliminary estimates producing 600,000 to 750,000 ounces per year over 25 years. Barrick is moving quickly. They are spending more than $200 million this year alone on drilling studies and infrastructure. This is a foundational asset for them, something that will help them define their long-term production portfolio. We expect material production at Fourmile to begin outside of our five-year outlook. But as outlined by Barrick, it will be a meaningful contributor through the 2030s, 2040s and beyond. Resource growth continues at an extraordinary pace in 2025. Barrick doubled the gold resource at Fourmile. And at their current preliminary production estimates, we see the potential for the Fourmile royalty to generate 9,500 to 12,000 ounces of royalty revenue per year for a period of roughly 25 years. There remains considerable potential for resource expansion, and the potential of this project alone is an example of why we expanded our exposure to the Cortez Complex in 2022. Moving to Goldrush, the newest producing mine in the Cortez Complex, Goldrush is ramping up towards 400,000 ounces per year by 2028, and we have a strong royalty footprint here as well. Most of our interest is an effective rate of 1.6% GSR with a small area to the southeast where the rate increases to 2.3%. This is a high-quality underground mine with decades of potential ahead. Exploration drilling at Goldrush continues to identify new mineralized targets in the vicinity of the main ore body, and we are confident that the resource and reserve will continue to grow here. As these systems continue to expand, Royal Gold stands to benefit directly as our royalties continue without any step downs or caps. Next [is] Robertson. This is an advanced project at Cortez and is expected to become the next producing mine in the district with potential to extend the operating life for the Cortez's oxide mill in addition to providing heap leach ore feed. Unlike Fourmile and Goldrush, Robertson is a low-grade open pit mine, but it has scale and longevity that make it important. We hold an effective GSR of 2.6% here, giving us meaningful leverage once production begins. Taken together, Goldrush, Robertson and Fourmile, together with extension potential at Cortez Hills underground, create a multilayered growth profile for Cortez