20 AEX construction is expected to begin this year, pending the receipt of two provincial permits. Similar to Red Chris, government support for project development is strong. The government of Ontario has included Great Bear in the one project, one process framework. This is intended to fast-track approvals under a streamlined permitting regime. Drilling continues to demonstrate the Great Bear as a multi-decade asset with substantial upside. We expect the potential at depth to become clearer once Kinross is able to access deeper exploration upon completion of the AEX. This is a world-class project with outstanding long-term potential. Warintza is a significant copper molybdenum gold project located in Ecuador. We acquired a gold stream and a royalty in 2025. Shortly after we acquired our interest, Solaris released a PFS outlining a 22-year mine life with strong potential for an additional 25 to 30 years of extension based on existing resources. Our gold stream is expected to deliver 10,000 ounces per year average for the first five years, 8,000 ounces average for the first 15 years, and the royalty delivers 3,000 GEOs over the first five years and 2,500 GEOs over the first 15 years, assuming that the stream and royalty rates are at full levels. Solaris expects to achieve technical approval for the EIA shortly, where upon we will make a payment of $50 million, followed by a further $50 million in May on the one-year anniversary of the transaction closing, bringing our total investment in the project to $200 million. Solaris expects to release a feasibility study and begin early works in the second half of 2026. Cactus is a past, producing copper project in Arizona with a strong management team behind it. We acquired the royalty in late 2024 from a private seller who approached us. The PFS outlines a 22-year mine life with 198 million pounds of copper produced per year. A feasibility study is expected in late 2026 with a potential investment decision as early as Q4 2026. Hudbay's recent agreement to acquire Arizona Sonoran may adjust the timeline but it also brings the strength of a larger balance sheet and the commitment of a company that has other mining interests in Arizona. Our 2% NSR covers all of Cactus East, Cactus West and parts of the Parks/Salyer ore body. At full production, we expect an average of about 4,500 GEOs per year. There are multiple opportunities to extend the mine life through the processing of primary sulfides, Cactus East underground mining, infill drilling to upgrade inferred material and drilling of the Northeast extension. While we don't have complete royalty coverage of the Parks/Salyer pit, the mineralization plunges in this area onto our royalty ground and all of the other upsides fall within our royalty footprint. Gualcamayo is located in San Juan, Argentina, owned and operated by a private Argentine entity. It is currently generating a small amount of revenue from oxide residual leach processing. The real value to this project lies in the Deep Carbonates Project or DCP, beneath the previously mined oxides. We have a 2.5% NSR on the DCP and a $30 million production payment when commercial production begins. The DCP as outlined is a 17-year mine life at 120,000 ounces production per year. This was the first gold project to receive approval under Argentina's new rigging process. A feasibility study is underway. Construction is expected in 2028, and first production is currently planned for