9 As a reminder, we acquired a 1.6% gross royalty over Fourmile as part of our late 2022, district-wide Cortez Complex add-ons, and this deposit alone could validate the entire cost. At Mount Milligan, our concentration is now reduced, although the mine still remains our largest asset by NAV and revenue. Centerra has extended the reserve life to 2045 but is exploring and permitting tailings facilities for well beyond that. Our largest asset is once again demonstrating multi-decade potential. The last development I'll touch on here is at Khoemacau. Since MMG acquired the asset in 2024, they have been pushing ahead with their expansion plans. Now the feasibility is complete. The project has been approved and construction is underway. This is our biggest source of silver production, and it now has line of sight to a 35% increase over our pre-expansion expectations, all this against the backdrop of surging prices for the white metal. While positive commodity tailwinds have played a role in accelerating the growth potential of our portfolio, capturing that benefit requires us to be invested in the right assets. Martin Raffield, our Head of Operations, will talk about these assets in more -- in greater detail during the next section of this presentation. So, last year's activity activities have materially changed the company, and our transactions report card, so to speak, reflects this, showing improvement to our portfolio across several areas. With 39 additional producing assets, we've nearly doubled our total. We've added 11 development assets, many of which are flagship growth opportunities. I haven't even mentioned the exploration and evaluation stage assets yet. This is now all featured in a single portfolio managed by a strengthened team. We look forward to demonstrating its revenue and cash flow generation potential in 2026 and for years to come which will allow us to continue to pursue large high-quality growth opportunities. Our now much larger portfolio increases our embedded growth and provides diversification benefits. Whether it comes from extensions or expansions of producing mines or from projects moving through the exploration development cycle, organic growth potential is the optionality that investors look for in high-quality royalty companies. We now have over 250 exploration and evaluation stage assets. These are proverbial irons in the fire that create value over time with very little of our shareholders' capital at risk. Our royalties over B2Gold's Back River district in Northern Canada are a perfect example of optionality that takes time to become tangible value. We inherited our first interest here as part of a portfolio acquisition in 2008, ascribing almost no value to the 2% royalty over what was at the time an early-stage exploration project with a seemingly insurmountable lack of infrastructure. While we added to this position with a $50 million transaction in 2024, our net asset value here can now be measured in the hundreds of millions of dollars.