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Ok, we'll get started. Can we have the doors closed, please? Good morning and welcome to day three of the of the Gold for America's. I hope you had a good day of meetings yesterday and feeling excited about the sector if you are, it didn't quite reflect in the share price performance yesterday, so hope you can do better. So we have the big goals presenting today. Quite exciting to see if they can be the rain maker. You guys have been waiting for, to start off the day. We have Anglo Gold Ashanti presenting and to talk to us on Anglo Gold. We have Alberto Calderon, chief executive officer and executive director just a quick disclaimer since the BMO capital markets is advising on the transaction that Anglo Gold Ashanti announced with sentiment, I'm restricted. So I can't be asking any tough questions personally, but your filter free, ask questions through the app or on the floor and I'll take them. Thank you over to you, Alberto. Thanks Rod, thanks for the invitation. We are restricted. As Martin said yesterday, the takeover panel can't really talk of anything about the future of Golo Santi. But anyway, we'll, we'll sort it out then., let's see how we move here. I'm sorry, just a technical. Could the screens be turned on here? It's better. So I don't turn your back all the time. But, yeah. Yup. Thank you. Ok. So I'll be very brief on these Anglo goal. I think many of you have heard it. We went on a journey for three years with a new management team, new operating model. I think the main focus have been internally organically making the company more efficient, more effective. I think the numbers show that we have achieved this, we have basically countered a very strong inflation of the more than countered of the inflation of the last three years would be about 15 for some companies 2025. And you will see that we've actually gone down in real terms. So that's has allowed us really to perform very well and to have a very robust balance sheet safety as always is probably the best indicator of the quality of a company. I think we're world class among any of the top, not only gold companies but the biggest mining companies that would be better statistics there than you would find. So we're pretty proud of that. It's a never ending battle, it goes every day. But yeah, keeping safe is the biggest priority. Everything starts with there and from then on you, you do the rest, we have, I won't dwell on this one, but it is obviously 30 now, 35,000 people. If we're able to conclude the this with sentiment across all continents, more importantly, we are moving more and more and we'll see towards tier one reserves and eventually production and, and that is the long term strategy, but I'll talk more about this when I go into a similar slide. So not surprisingly, with these gold prices, very strong gearing, low net debt, we have two bonds that are with coupons of 3% I think more than a billion. So that restricts our ability at some point this year will go to very low levels of gearing and so very high liquidity. I'll talk a little about this because this has been the cornerstone of how we have been able to more than counter inflation. And so, and how do we measure? So this many obviously companies do this. I think the most successful that this was started by Gary Goldberg in Newmont with full acid potential and it's just months, not weeks but months into operations. Try to understand the 56 levers that make a company more efficient. Is it gonna be the recovery? Is it gonna be like in sunrise? How many tons do you move on underground? Is it gonna be availabilities? It's gonna be the tailing stamp. And so we have done that now for two years. What you see in this slide is not tracked by the full asset potential. This is tracked by finance. And the reason for that is this has been my experience in other companies in the past where you basically say, oh, we've saved a billion dollars, but my profits have gone down by three in the end. What matters is the bottom line headwinds and all this reflects that. So this light reflects all full asset potential and all headwinds that we have faced on a net basis. And so when you start by the one on the right Cuya, and you will say, well, what happened there? You went down back by $120 million. No, it was because we were forced by the regulators to stop the Quiros plant that created, we had to move to concentrate. We were exporting 60% concentrate. That's about a $400 penalty. So that temporary negative there has been very good progress in Cuiaba. But in the end, we counted everything as I said. And so then right now it shows us 120 now that we're moving in Cuba to 100% normal again. And the Caos plant is working, then that number will quickly become green. But the important message is on average. After doing this across all of our operations, we know that we can improve for every million ounces, about $200 million of increase in Abita annual EBITA. After two years. And that gives us great confidence as we'll see for what we can do when we if and when we become the owners of sentiment. So this three slides are one, there's a causality from that slide to this slide. The reason why we have been able to keep lower. Actually, in the last three years, our cash cost, that's the minus 4% in the last three years. Our cash costs have actually gone down in real terms. It's because not because we cut cost of water or whatever, but because overall the the all the assets are doing better with less are being more efficient, are being more effective. The industry average again, in real terms is about minus 20 but it goes from minus 20 to minus 30 that has allowed us to close the gap three years ago. We had a gap versus let's say the top three companies of about $300 in cash cost per ounce. And right now, we think it's gonna be very close within 50 or 80 more important in all in sustaining costs. I think we're, we will see we're right about there with probably the top two companies or 30 $40 but right about there. So we have closed the gap and obviously this has reflected in the share price. So it has been a good run in these three years, but it's, as I said, that's the causality. So I won't dwell much on this but roughly in the last three years, we have doubled the performance of the gold price. Mhm. So let me move now to the sentiment acquisition. So a compelling strategic fit. So what did we seek to achieve two years ago and a year ago in terms of our strategy, we said, OK, we we want to look for something that satisfies four criteria. First one, it's a tier one. So multi decade, hopefully around half a million ounces. Number two is there's a balance always between risk and cost. So if we were able to sort of keep the risks or lower them slightly, we wanted to significantly lower the cost. If we were going into Canada or Australia, we knew that probably the cost would be more difficult, but we would make that trade off. But the last fourth one was the most difficult. We needed to add value. We and the add value criteria was to model them extensively, both our company and the acquiring company. And at the end, after paying a premium that we would add value on a NAV basis and that's quite difficult to do. Take Australia right now, we looked at buying companies in Australia. It just doesn't work from A P NAV. Their multiples are very high and so we just couldn't make it work and pay a premium. So when we scoured, there were not many like this, I'll talk more about sent. I mean, I think they have done a wonderful job. But this satisfied all of the criteria and I I will go into those four points in the next slide. I won't dwell on this. We paid about a 37% premium mostly on shares, a bit of cash. At this point of the cycle, we were adamant that it would have to be most of it on shares. What is left there's competition permission from the Egyptian authorities and the most important thing that's important, obviously, but we leave that. It's on a good track and then it's that the shareholders of sentiment, approve the deal. My understanding is that they've had good conversations but that is what we are working on and hopefully closing sometime in November so relatively quick. So why is it a compelling fit? I, I probably I'm gonna skip this one because so what are we buying overall? I think that they've done quite a remarkable job. So about 13 million ounce province, this is between Egypt and what they have in Cote d'ivoire. But very sizable and more importantly, what this will do for us as a company and I talked about that before. So as a company, this will be, we will get to about 80% of tier one reserves. And what this also, I I've said it in many other places in mining companies, you can shrink into greatness. But once you have more tier one, then we can let go of some of the tier two. So the vision is in 3234 years, obviously to have a production of between 80 85% from the tier one resources. That will imply you can see the costcos and all of that and even more competitive company. We are quite obsessed by this issue of cost just to put something but it is relevant. We have like all companies prices of gold for resources and for reserves for resource. We have 1750 and we have decided not to change it. It doesn't matter what the price is, we don't need to change it and we want to ensure that the margin that we're getting now and we will get very good cash flows this year is preserved, obviously like it should be for the shareholders. So that's the reason why we want to predominantly focus on the tier one assets. We're not focused on size, we're focused more on. Yes, something along 3 million is ideal 2.82 0.9 but focus on tier one resources. Let me dwell a bit on this slide. And so this is about Zari. Let me probably start with the first one, the past, the present, the future. So in the past, they have produced already five point 9 million ounces. So they have been a long time in Egypt. They have been through good times like there's now through difficult times when there was sort of upheavals all through this time. Their contract has stand firm. They have always been able to take the cash out of the company of other, other country. And right now again, the situation looks very well. When you, we did extensive due diligence on political risk. We talked with the oil companies. All the big oil companies are there. Exxon Shell BP Total. They all speak very well about the country. So it is a risk. I tell my many of the shareholders when they ask it's not Australia. I'm sorry, it's not Canada, it would sit in our mind among the best risks in our African South American portfolio. So what it is about the mind of today, let me recognize. I think Martin and his team have done a fantastic job, especially on the last four years. First thing you notice world class safety again, there are indicators better than ours, slightly better, but it's just a very well run place. We did extensive due diligence we sent at the end of this, all of our technical or chief operating officer or chief technology officer, all of them for 30 years. One of them gave them the biggest compliment that Australian could give. Which is, it looks like an Australian mine. So yeah, if you know Australians, you know, that's a big compliment. So I'm Australian now. But anyway, it, they were, they really have done a very good job. Of course, there's room to improvement, like always like in all of our internal companies, but they have really done a fabulous job. The open pit they say it's running it's clean. So they were very impressed. What about the future? So in the future and that's it. This is thanks to the due diligence they allow us to do. We got about 30 something terabytes of information. Let me stress some something again that I heard from other shareholders. This is the first time that they opened the books like this. No other companies had had access. Others tried to go through the back door, but this one is through the front door friendly and we got massive, massive access and we're very comfortable with what we see. We're very comfortable with the opportunities that we see for improvement. We're comfortable with how we would manage. It is a mind that is similar to ga orogenic body, open pit underground, nothing that we haven't seen. So this which is there next year, about half a million ounces in the next year, there are 20 about 20 year resource mind life, the potential we'll talk about later for the future. They're all there and it's just a very exciting asset. So there is significant upside. I will talk about this in two slides. They did also a very interesting job in exploration. This is the Eastern Desert exploration. It's called edX. Close to the mine you can see in the red Torres with Sua is they have 2600 kilometers of land which is quite prospective. It hasn't been explored, hearing new things every day like there was, they weren't allowed to do aerial surveys over the area which now they're being allowed. So there hasn't been any modern technology used to explore in this area. Our geologists that also were part of the diligence are very excited. I put the caveat, geologists are always excited, but they are really excited by the possibilities, not only in this edX, but also in Suka in itself, it's still not contained, as they say, and there's still upside in in Suka itself. So let me move quickly. So this is what we will get with this. If we can again finish this acquisition, I would point probably, yes, it's a 3 million ounce. But more importantly, look at the oil and sustaining cost, it will go down about $50. So 493 that's there. When I said, we look at the results of the half year of the largest mining companies and they'd be somewhere around there 1514 2014, 80. So in terms of margin, we we we are, I think in a very good place, we're obsessed by keeping, working on this and keeping control of the cost. But, but that is it, it it creates another tier one and helps us significantly in our all in sustaining costs, it will share. So our net debt to Abita is low. And by the end of the year, this will, it will be significantly lower than that. So the other important thing of this transaction, as I said before, without doing anything, it was not a creative by itself. And that's just you can go to publicly available information C I BC. They would have traded about 0.8 0.7 0.9 A P over NAV. We were trading quite well. We were trading 1.31 0.35. So that in itself it's easy paying a premium. And still there's a lot of room for navare. And we also put some very small synergies. We didn't put much and clearly it was the numbers were very compelling for an acquisition. So as I said, these are the numbers today, but our ambitions obviously are much greater than this. And we see significant upside and this is not because it was not a very well run operation, but it's run operation single one, probably less resources. We believe that we can bring through the following five areas. A significant upside. I talked about the full asset potential we think and from, I can't talk anything about the mine, unfortunately, but the one of the persons who, well Marcelo Godoy, chief technology Officer has been working with full as a potential for a decade, I think. So what I'm saying, I probably he didn't dispute it. On average for every million ounces, we can reduce a bit, we can increase Abita sustainably by about $200 million. So that's our ambition for this asset there. If you look at the balance sheet last year, they had about 35 of continuous corporate and about $10 million on others in time, we have an all corporate. So that would disappear. Supply, efficiencies are just our scale on agents, reagents, explosives, big mining equipment. There's opportunities there on underground production. We, I think we would probably is where we found probably the most value in drilling it. And this is the excitement of the operators and the underground. They believe that we would put in significantly more brown fuel to the limit or the existing body that there's a lot of potential still in relatively shallow underground, but within the Suka. And finally, the exploration outside that I mentioned. So our ambition is significant. We never like to put numbers, but we do qualify statements and then come back to say why we were confident that we would do that. So I think that is it. Let me finish and open to questions. Thank you, Alberto. We have time for one question. Anybody from the floor? Thank you, Alberto. A couple of questions. First one, not on Suka. So you can answer it without issue. I think when you're talking about the full potential realization, it struck me as interesting that the one asset where you got the most benefit was Cerro vanguardia, which is interesting because it's a smaller asset within the portfolio yet it gave you the most boost. Ho how and why? So remember that this is targeted with headwinds and tail winds. So they had some tail winds that helped them. But I would think that the more probably typical one would be gate sunrise, for example, for its size and that that was pure asset. That one if from memory is pure asset potential, we're doing it a second time and we found another $100 million. So yeah, it's the way we measure it. I said combines both but the pure full asset potential, those numbers are would be from memory for gait and sunrise similar in that ballpark, maybe just a just a follow up. You said that you were looking to get a hun $200 million of ebita for every million ounces. Is that a million ounces of reserves or a million ounces of production, a million ounces of production? I'm saying this is what we found already roughly for every million ounces of production operation. So this means for a half a million ounce of operation, we should get something. Again, I'm not making statements because I get into trouble with the with the panel, but because we have so much experience in all of our assets and because this asset is very similar there is probably quite a bit of confidence that we will get something in that if it's plus or minus 20 or 30 we don't know, but it will be significant. That's the point that we want to. Thank you, Albert. Thank you. I mean, would that be out of time? Ok. Thank you.