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the project is in Brazil. Basically we are one of the probably one of the largest PGM projects ready to be, to be developed in the near future. We bought this project from Valley back four years ago. Valley, basically done a lot of work over there. And the, it's located in the Kaja region where the largest deposits are. And we, we definitely have a tier one deposit. We have a lot of experience in country. Our previous company was a Vanco. Basically, we built an opera mine back 30 kilometers south where Luana is located. And it recently like we have a discovery of copper gold, which we're gonna talk about that. So our capital structure is quite simple. We have, we, we management and founders owns 56% of the shares. We have Black Rock in our, in our group with 99.2%. We have Tembo capital in 9.8 frankly with 4.3. And we have other remain shareholders as RCF Sprat and other institutions which are Brazilians. Our market cap is around $280 million and we have about $27 million in treasure. At the moment, the US, we are covered by National Bank, Kord and Comar and Dino. The target price vary from 450 to $5 except for can a cod which our target price is $6.50. So here we are in the kaas, we basically have our property over here. And if we operate this mine over here called Antos and also we discovered this was Pedro Blanca. This was basically founded by us back 2007, we operate a mine over there. We sold that company for $440 million. 120% premiums is the first mine built besides Valley this Carajas. In terms of infrastructure, there is not a better place in Brazil. It's very pro mine environment over there, we have access to two airports. One is here is in para ps the other is outside here, Maraba. We have road access to our property, basically actual pavement, road into our camp. We have three power lines crossing our property and we have access to the r of valley which is basically over here in terms of ESG again, like we tick all the boxes. We have probably no people in our property. The next community is about 10 kilometers away. We have no forest, as much water as we have. We have no indigenous communities approximate to us in terms of infrastructure for built a mine, para purpose is where you want to be is, there is about 11 mines operating over there between copper Neo and iron ore. And basically all the q labor that you need is over there in terms of tax. Again, it's probably one of the last jurisdictions very friendly to mine. If you build a mine for the 1st 10 years, you're gonna end up only paying 25 percent of your income tax, which means a reduction of 75% of that. So here we are, we pick up this project with 5.5 million ounces, not 4311 in basically two years, we move this to 9.8 million ounces which 40% is infer indicated 60% infer. And that moves us to 9.8 million ounces at 1.6 g per ton. So here we are in our project, basically, we have 8.1 kilometers of strike, which is about three times the Golden Gate. If you look at that is very continuous mineralization and they have been done 100 22,000 of drill holes so far between us and valley, 50,000 valleys, 70,000 earth basically takes us to almost 600 holes in this property. The mineralization is very continuous as you can see here. This is a line of 100 50 m. That's the line 300 m and it's the mineralization continues all over the 8.1 kilometers as you can see here outside of this line of 100 300 m. What you have is about 40 holes proving that there is mineralization continue to do that. That's the large part of the project which we are basically focused these years in order to confirm the more indicated resource. So here, what you can see is the p design for the resource relatively shallow up to 100 50 m over here. 300 m over here, 350 m over here. And that's the drilling in the pit. We also have besides PG MA lot of Nico over there as you can see. And this is the envelope of all well known mineralization that we have. One very important component of. This is this oxide ore that we have is the ore that is sitting on top of the deposit, basically quite large and quite rich which bring us to the possibility instead of prepping costs. Basically put this in the plant leaching this and get cash revenue up front. This is the distribution of the resource. What you see in red is the indicated, what you see in blue is inferred. And what we are doing today is basically moving this part and this part to indicate it, this is part of our today's campaign 16,000 m of drilling which we already completed 13,000. This is gonna be completely probably in the next three months. So here is a good example of the mineralization in the resource what you see over here is a lot of or outside of the pitch, giving us the sense that these deposits is not 10 million ounces. It's probably the double of that and the mineralization is too open to that. And in fact, if you look how pre is you're gonna see that depth is thicker and richer. So that means Luana can be either be much more than just 1020 million ounces. So here's our resource table. Put last October again, it's very important the oxide material which is showing today 600,000. And with that number, we only complete one third of the tr program, which is the two very efficient to basically estimate the resource there. So that's our value metal contribution. We are reaching pallium 43% Platino, 30% Nico 12% Roo 12%. If you consider Rojo going back to basically $15,000 this is gonna be for sure at a Rojo mine. So that's a good example of what we've been doing. We've been drilling over here drilling over here, drilling over here in order to move the info to educate it and also doing trench over here over here over here, which we, we do expect we had a lot of houses and basically move to a 5050 indicated info. So in terms of the methodological test work, we are not typical exploration company, just drilling, trying to increase the deposit. We want to sell something that we really believe. And that's what we've been doing since then. Our team is very has a lot of experience. We basically took this with 70% recovery. In average from Valley, we move it to 8% recovery basically over here. And in terms of oxide, of course, the oxide, you don't recover the nickel, we recover some of the platinum. But what you, this would give you is the possibility of basically leach this ore convert pass to the carbon plant and basically burn it and sell as adore. The pay is 95 percent compared to normal pay ability of PGM, which is a little bit lower. How we've been doing that? Like we've been using those labs in Brazil and we bring expertise from overseas, South Africa and Australia. So that's the new discovery that we have IOCG. Like we always know since we start this project, there is a possibility of IOCG and I'm gonna show you a little bit about that. So here where we are in the Luana over here, basically, they find it in the upper zone of the Caracas where the largest deposits of copper gold are sitting like salo 1.6 billion ton Paula Fonso, 350 million ton FO 200 million ton GT 4646. So basically why we always question ourselves, why only Luana is PGM, why not the OCG? And we proved that we were right. We basically in September 2022 we found this interesting drill hole that you see over here hole 47 that showed up about 11 m at 5 g of PGM, 2% of nickel, but also 1.2% of copper copper is not common in PGM deposit in trama rocks. So we said to ourselves, let's do some work over this. And we basically decided that since our past history in Avan was telling us that the possibility of a massive sulfide can be found with em. We tried to fly, the em was hard in Brazil. The equipment was not available, but we're lucky. Rio Tinto brought the equipment for li exploration. Basically June. Last year, we got a window and we covered the whole property with that as a result, we found 17 anomalies and the first anomaly that we drilled over here, basically 300 m from our camp. We find the heat and it's this fantastic hole that is still up to today. The best hole in the world in all public companies. So here we are, that's the holes that we have done so far. And these are the holes that have been followed at. We have about 10 holes so far in this property, which is showing to us that the mineralization is probably going to the east. And that's what we'll be looking today. So these are the holes that we released in the last two months, like very interesting holes as you can see. Like look at over here, 22% copper is basically DS 0 6 g of goat, 3 g of goat. Look these other intersect, these are fantastic intersects never been found in Kaja so far. So we have to believe that their source is close and it's supposed to be big. That's what we've been looking for. So this is another spectacular hole that we had like 16 m, sorry, 8.5 m at 9.45 48% copper and 2 g of gold. But look those intersects over here, fantastic intersects and everything relatively shallow, about 70 m from the surface. So if you pick up these two holes put in the perspective of the past five years, you're gonna see like they will be present as part of the best hits in the world 1st and 3rd of this year, second of past year, third of 2022 50 on 2021 and second of 2020. So here's where we are in the, in terms of exploration, we already find it a strike of about 225 m. And as part of the last result, we show it that hole over here. We don't have essays unfortunately, but it's showing continuation to that. So a lot of work are gonna be done in the next few months over that. So again, what we next on on on Bravo is probably keep drilling the PGM. We are very optimistic about the PGM price. But in parallel, we're gonna follow up the em anomalies and try to define more or zones like we showed you before. So let's recap. What is bravo for 2024? We're gonna complete the methodological work update our MRE probably in the next quarter. We slowed down a little bit this year because we have to run the PGM in parallel to the copper. We are completed the trenching program probably early next year. We're gonna drill the anomalies and explore that. And in terms of permitted, we submit the permitted. Basically June this year, the full permit for both projects, copper and PGM. We're supposed to have inspection in the next month over the property. We believe that the first quarter, we're gonna get our public hearing and probably our first permit and the construction permit will be ready for and for five next five years, probably in the end of the year. So what we are trying to do here is derisk this project completely. That's a recap of everything that we have done over two years. We spent about $30 million and we came from 250 holes from Valley and we basically got at 574 holes so far increasing 50,000 to 7000 m of drilling. We pick up this as a, the, the positive that have only Platino and Pelagic. We proved that we have Roo as a very valuable component and also Nico as well. So we have three PGM plus Nico today plus copper and gold. We know that the V Metro contributions is very well defined for the PGM, what we have over here, one of the best deposits in the world and the Luana is very well known up to 250 m that but open to depth in terms of resource growth, we believe the oxide, we're gonna add more houses. We're gonna also have more resource at the depth if we want. But we already have 25 years at 10 million tons as we speak. And the new discoveries probably gonna have a very large contribution to the foot of this project in terms of discovery. I think we prove it true twice with the new discovers at the end of the the Luana strike and 600 far away to the east that it did not ever. New discoveries are right possible. In terms of processing, we came from 70% of the value results. We reached 80% for average deposit in the high grade. We have already achieved 85% in terms of permit. Not many companies have done all the work in one year and probably be permitting two years. That's bravo. Thank you very much. Thank you, Louis. You still got a couple of minutes. So I'm happy to send over some questions if that's all right, I'd love your views on the PGM market at the moment because it's obviously been a bit challenging and related to that. Does, is there a tipping point at which you kind of, you focus more just on the copper and what would the trigger for that be? Well, in terms of the PGM market, as you see, like the market is recovering, no doubt about that. A lot of the, I think automobile companies thought that the view is gonna take over. That's a quite different view today. And as you can see, for example, in Brazil, we have less than 10% of the cars in Brazil. EV and not many automobile industries are going to EV, they are mostly going to hybrids which means more PGM in the motors that we have and Brazil is a good market. 2.5 million cars per year, a quarter of the United States in terms of the PGM price, I think it for the last week, we have increased almost of $100 in the palladium, $50 in the platinum and about 1500 in radio that show probably the future where it is going. We know quite well that the mines as in South Africa are shutting down. Unfortunately, North America's things are similar. Sibon to water are reducing their production. There are supposed to be 800,000 they are doing today. 200,000 laying off half of their people, which they announced last week. So we believe that the PG market is coming and the world is for sure. We have a lot of appreciation for PG MS in the Sky Organization. In terms of the copper. We basically know the copper for six months. That's a large project, what we have 9000 hectares. We are looking to t five very deeply because the market is expecting that. But we have very good promising anomalies to also follow up. OK. And is there a point which I would imagine that the deposit looks incredibly interesting for the larger players, particularly Valley in the region? I mean, is there a point at which you think that they become too attracted to it? And it's something you can't keep your hands on? I think Valley is one for sure we have good relationship with them. I think some of the infrastructure that I mentioned to you, we would share with them. They want to see all their minds. Like I saw that when I was a uncle, they want to see all their minds over there. Not necessarily, they would be probably the home for this. I think they would be happy if we take this. But other companies like Anglo have this. The property Glencore is very interesting as well. They express that and there's other majors that are looking, of course, the copper is one the most interesting points for them. But we still believe things with PGM will change and it will be a lot of other companies looking for us as well. Excellent. Thank you very much Louis. Thank you.