34 which should make us a good addition to any equity portfolio, then hopefully, you'll agree that this discount is unwarranted. So, with that, I will turn it back to Bill for some closing comments before we open the floor to questions. William Heissenbuttel: Thanks, Alistair. I sort of think about what would I like you to take away from this day, and I would take you back 12 months. We were sitting in this room 12 months ago, what criticisms would you have had about Royal Gold, and I can think of a handful of them. The concentration in the top asset, the outlook for growth and the portfolio duration. And I can -- as I stand here today, I'm confident of the following. I genuinely believe we have the most diversified, gold-focused portfolio in our sector. I think our five-year guidance really provides evidence that we see growth in our portfolio without making any new acquisitions. I think our portfolio duration has improved considerably with the acquisition of assets like Platreef, like Mara, Kansanshi. And not to mention the organic portfolio improvements we've seen with the life of mine extension at Mount Milligan and the upside potential at the still developing Fourmile project. So, if you can combine the more balanced, the larger, the stronger portfolio enhancements we've seen in the last year, and you sort of marry it that with a consistent strategy, a consistent approach to financing new acquisitions on a non-dilutive basis and our consistent focus on increasing returns to shareholders through higher annual dividends, I really think you do have a compelling and undervalued opportunity in the precious metal space. So, with that, I want to thank the Royal Gold team here for their efforts and contributions. I also like to thank the team more broadly. In a company like ours, this kind of effort touches every department, touches every person, and we certainly appreciate the effort. I'd like to thank all of you, the investors and the analysts that allocated a couple of hours of your time to listen to our story, and I certainly appreciate it. So Alistair, with that, I think we're ready for some Q&A. QUESTIONS AND ANSWERS Alistair Baker: All right. So, we'll invite the Royal Gold management to come and sit on one of these little tuffets and we'll open the floor up to questions. I think what we'll do is we will take questions from the floor first. We have a few analysts who dialed in by phone, and we also have a webcast. So, we've already been starting to get a few questions coming in through the webcast. While we're asking questions from within the room, please use the