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Lucky last presentation. But thanks to the Denver Gold Group for the opportunity to present here today. This has been several years in a row Zan it has presented And what we've done over the last 5 to 6 years is take a genuine exploration discovery in the South Kobe region of Mongolia through a scoping study resources. And now we're about to deliver a PFS. What we believe is a very valuable copper and gold asset located in located in an area where we believe we can advance a project very quickly. So this presentation's about unlocking the project. We believe we've come through the, the study phases and we're about to show some true value for this project disclaimer. So where are we? As we said, we're about unlocking the project. It's a genuine discovery. It's happened over the last five or six years. We've been able to put together a very large gold rich resource over 3.8 million tons of contained copper, over 9 million ounces of gold which is a significant resource that sits in a shallow area. This is a resource that most of it sits within an open pit. We've completed a scoping study. We look at a project that's financially very attractive. And as we move into a period where we know there's strong demand for copper, we believe the company is very well positioned with this project coming through into development. We have a very strong workforce. It's all about the people. And in Mongolia, with that workforce, you know, it's been a blessing to be working in this working in Mongolian mail advances project so quickly, we have a dominant Mongolian workforce. So really, what's the future? As I said, we're about to deliver the PFS for this project. We've done detailed mining. a lot of metallurgical work's gone into that an enormous amount of drilling. We believe we're staging this project for a great growth story and the company for Xanadu through that growth. really as an exploration company, we're targeting material liquidity events for all shareholders. And we're looking to, you know, many different options, how we progress this project through funding for the longer term, how we minimize dilution for shareholders and how we extract that value after a very good exploration discovery. and how we advance it through to the next stages with our joint venture partners at Gin Mining, as I said, the PFS is gonna make this a bigger and better project. You know, I've, you know, done exploration for a long time now and I have not boss. That used to always say that, you know, it takes the same amount of effort to find a small project as it does for a big one. So, you know, the best use of funds is to find big projects. And that's what we've done here at Xanadu Mines. We've seen a significant increase in our joint compliant resource. We've an upgrade of most of that resource in indicator which we released it lately. We've seen elevated growth profiles for the first six years. It's really about getting as much of that high grade into the early stages of mining as possible, bring that payback period down and we've been focused on that drilling and getting the grade into. We're assessing greater gold discoveries for additional small leaching circuits. We probably have a gravity circuit up front. We're looking now at putting together a maiden oil reserve for the matai and that's incorporating a lot of this, a higher grade drilling that we've accepted in the infield drilling and also bringing the resource up, the indicated we've recently talked about some significant expansions of mineral resources and we'll step through some of these in this presentation. And we're assessing concurrent underground open pit mining as we speak, the system is getting better with depth. It's getting the right footprints for, you know, for underground mining. So it's getting a very attractive project. The PFS will be at the open cup pit, but we're gonna assess new deep, deeper exploration, deeper grade. And we have a district that's wide open with much exploration to be doing. We believe we're on a an achievable pathway for value creation here. As we continue to progress this project derisk it, we look to increase the value. It's a very small company at the moment, still got $100 million market cap. We believe it's a massive discount to our scoping study. But we're gonna rectify that by putting out a maiden resource for disc derisk it. We also you know, with the PFS, we believe there will be much upside, but more importantly what distinguishes Xanadu from other companies around at the moment, we have a clear pathway to final investment decision and we're able to do that because we have a partner in one of the largest mining companies in the world in Zain mining. And two years ago, we put together a joint venture with Zin that's seen them fund the PFS minimizing dilution that is going to do shareholders. And more importantly, we're in a position now where our joint venture partner has the ability and the skill base to actually build these large copper mines. So we believe we're well positioned as we move into 22,025 to continue to grow the, the project derisk it. and moves to a final investment decision, which will be Mongolia's Bird Copper mine. A lot of the work in the last year. We've been busy but it's about future proofing. This project designed for growth. We've completed the water drilling you can see here in the picture, it's a very dry place, the South Gobi. But there is a lot of water. We're surrounded in some very, very large coal deposits. We're surrounded in large Coke, copper deposits such as how you talk about and much of that water ised from artisanal basins deep down. And we've completed a, a round of drilling here. We've now identified some, some good water and we've continued to advance that. And obviously in this environment, water is scarce but it is available in these deep aquifers. So that's future program. We'll, we'll be looking at that. And as we look at this copper project, we have a copper project that's growing. So we're assessing a 20 to 26 million ton per annum operation, initial stages and looking for expansion. So as we'll step through, we're talking about a pfs that looks at stage process, you know, get in, let's get the high grade through the plant and then continue to grow it. So we've had multiple independent mining fronts that support a two stage mining process. As I said, stage one, targeting early growth pit sequencing stockpiling. The strategy is to optimize this stage and get the highest grades through the plant as quickly as po potential as quickly as possible. We're also assessing, we have a cap here of of weed material contains a lot of gold and not of copper to about nearly 60 million tons of this type of material. So we're assessing that for financial oxide heat bleach too as we speak at the moment. So, you know, if you gotta move it, you gotta mine it. at least at the pays for itself, it gives us the ability to get that early cash flow. And stage two about copper projects, you know, these copper projects are big, they're about expansion, they're about growth. It's about scaling it up and getting as much material through the plant over a 30 year period as possible. You know, bringing up the larger couling material and that's really what our scoping study is looking at here, multiple pits. It allows us to, you know, work on multiple areas, focus on that grade earlier. But really allows us to have a project that's able to ramp up quickly and get to a scale that you see in most copper porphyry. You know, the beauty about these types of systems, the copper and gold por freeze is they're very vanilla. In terms of metallurgy, we have a simple orbis primarily chal pyrite, little bit of B night and free gold, a lot of the gold hangs around with the Chaco pirate, but we also get it free. It means we have a very simple processing. We have a sulfide feed crushing, grinding gravity, producing a gold doorway which is fantastic. We were able to, you know, provide that to the Mongolian Central Bank. and then flew to the floatation. We're producing a very, very, very good copper concentrate, copper gold concentrate that will continue to go on and be sold to many smelters that sit within the area. I think significantly when we look at the products coming out of this mine, it's a high value concentrate and you look at a lot of Asia and surrounding areas. At the moment, there's a huge lack and a huge demand for clean copper concentrate. It's not being reflected in the copper price, but we know that when we look at TCR CS, we look at a lot of these things, they are at record lows. So it means that we'll be looking, we'll be producing a very clean copper concentrate here. It'll be a copper con that probably sits about 25% copper and about 15 to 25 g. Gold known period is we're not seeing any arsenic. We're not seeing any fluorine. So it's an amazing copper con to have armed with. And also we're looking at recoveries of 10% of the gold up front through the gravity. This is quite significant. It allows you to produce the door a and site very saleable product and you know, a, a high demand. So a place like Mongolia, we believe we've earned the opportunity to work here. We've been working in this environment for well over a decade. We have a fantastic community relations. We're very much part of the community. We understand it. And as we move through this progress, we progress this project through the permitting phases. We've already submitted the resource for registration with the Mongolian government. We're doing now, we're underway, we're doing a dia the feasibility will be underway shortly. And we're gonna expand our community and government engagement. really looking for a Mongolian investment agreement here and full scale construction as we move into a period where the next two years. So I think when we look at Mongolia, this is a really good environment to build projects. We're in the South Gobi and we have power, we have the water now. We have a fully permit, we have a railway line to China. You know, having worked in many hard parts of the world, you know, we're not trying to build a Tailings Dam in the middle of a rain forest or a 5000 m peak in Southern South America. You know, this is a place where you can build a mine rapidly. a lot of drilling on this project. you know, close to 300,000 m of drilling. That's happened over the last 5 to 6 years. And the main footprint of the deposit is the Stockwork Hill, White Hill Copper Hill projects, which had been the focus of that drilling and a discovery a few years ago called Zara. So it sits on a fully granted mining license covering over 40 square kilometers. The resource is large, as I said, you know, 1.5 billion tons, 0.3 copper, 0.2 gold, a lot of contained copper. and those grades are low. And this is what these porphyry are, but what significantly we have, which differentiates this progress to many others is high grade components of it. And if we look at that billion tons, there's a very high grade, 100 and 25 million tons that sits at surface and extends to depth and that allows us to, you know, get into that early, get the pay back and get the project running. But it sits over a broad area, a lot of exploration upside. with the infield drilling, there's very few projects that you take on. you infill and you increase the resource and that's what we've done over the last couple of years here at a Mukai. And more importantly, if you look at one of these deposits, this is our White Hill. It's a very large open pit here, talking about open pit, it's only two kilometers by two kilometers. And for the 1st 300 m, it's moderate grades with some sniffs and some narrow zones of high grade. But as we continue this infield drilling, we've now identified a high grade core to this system that you can see at the bottom,, of the PS,, the P the PFS pit. So that's quite significant. We're seeing those high grades come in broad zones of 1% now. And that's really encouraging cos what we're seeing here is a system that has a very large open pit deposit. But we're seeing the high grades come in at depth and we believe that there's the right dimensions, the right footprints, the right grade profiles for future underground mining. So, you know, this will be a multigenerational project. And as I said, the pit, they haven't pit design is basically the 1st 30 years, but we believe that there'll be a the underground that will support another many, multiple decades. So when we look at the region, you know, you can see the system remains wide open. We've been very much focused on getting a project going start a project with our partners in Zijin. We've seen recent resource growth and strong potential to increase that surface. We still believe in the potential for, for shallow discoveries within the district. And we can, we'll continue to drill and we'll continue to focus on these discoveries in the background as we progress, this project, which is not uncommon. When you look at a lot of these poor frees they occur districts, you'll see multiple discoveries from time to time. And I in case of examples, a project Locadia in Western New South Wales where the expiration is still ongoing despite it being a mine for over three decades. So if you look at a conceptual schedule, we believe we're in a unique position here where we have a project which is advancing rapidly. It has a lot of the I guess the the right ingredients on the ground to make it progress rapidly. Ongoing drilling. We've completed that in 2024 feasibility underway Mongolian feasibility, environmental progress will have those early next year. And we believe we'll be at an event at a time where we'll be at a final investment decision in the not dis distant future that allow us to complete a definitive feasibility study while working on and progressing investment agreements with the Mongolian government commercial production. You know, it's tight and it's gonna be it's gonna be a hard slog, but we're looking at 2728 and I don't think there's very few projects around here at the moment that will have that timing and we see at the moment we see the demand for co global. But I think the key thing when you look at copper is that, you know, we all believe that, you know, the consensus is these prices will increase. The one thing I know is that they will be strong in two years time. And I think that positions Xanadu to be a project that's coming through, coming into development when we see that copper price peaking. we are generally an exploration company. We are progressing a Mug Thai through the PFS. We are managing that process as the gin mining. But outside that, we have a couple of exploration projects that I'll touch on really briefly. Red Mountain is a copper and gold district. Again, it's another poor free district. It's had very little exploration. What we're seeing is a 12 kilometer strike zone of copper and gold anomalies. We've seen various drill holes with over 100 m of 1% equivalent from surface. We recently completed some drilling and focusing on some high grade gold at this project with some encouraging results. And again, this is a project that, you know, the company will move on to once it's got some time. Once it's finished, the PFS at a Maler recently picked up San Tolgay. We believe that there's an opportunity for magmatic copper, potentially nickel PGA and gold in the western part of Mongolia and these are extensions of belts that come from Kazakhstan in Central Asia that's had very, very little exploration. I was just up on site a few weeks ago, we've just completed our exploration program of first past exploration at ST Tolgoi. We're seeing the right rocks on the ground, seeing the mag the, the max rocks, we seeing them containing copper. So very encouraging. We've just completed a broad geophysical program, detailed rock chip geochemistry and mapping. So we're quite excited about this project. We believe we're a first mover. And with our expertise in Mongolia, we're able to get in secure some licenses in what is a brand new district in Western Mongolia. But proof of concept, we trace these belts through to other parts of Central Asia and they generally host world-class copper and nickel projects. So just to conclude, you know, this is a company, an exploration company. We've had a discovery of a large world class copper and gold asset in South Gobi, one of the few copper and gold projects that are out there at the moment. We've been able to do a great deal with the gin mining that allows us to advance this project. And as I said, it's a, it's a privilege to work with a group that has the ability to help fund and has the mining skills to help develop a large copper and gold project like that. We see enorm enormous resource growth here. Our drilling over the last few years and the resource PFS has all been focused on the shallow open pit mineralization, but this system is getting better, it's getting higher grade and it's getting and it's growing with depth. So we believe we're only at the tip of the top, top of the iceberg here. This continue, this project will continue to get better with depth, very much like some of the surrounding deposits. A U Tolgoi, you know, the open pit material material immunization there goes down to about 400 m and then we have the very large, high grade Hugo DME deposit starts at about 1000 m. Most of our drilling to date at among has only been in the upper 400 we're getting the right indications that we have a much bigger system at depth. We believe that we're in a position. We haven't, We haven't done anything too tricky with our pfs. It's been a very straightforward process but mine plan design and production. stage one, very simple targeting that grade early, get your, get your payback period down and focus on, you know, a growth project for the future. We believe that there's a significant potential here for a rerate. We're a small cap company. We're partnering with a group that has the ability to fund. And as we advance this HOMO type project towards a material liquidity event feasibility study, We believe we're in the right position now. that's the Xanadu story. So thanks very much. Great. Thank you, Andrew. Any questions? Hm. I think there's just a quick one, Andrew, apart from the larger project where you'd really need the Chinese to be satisfied, it works and provide the balance sheet. The stage one that you've talked about your deposit seems to have the appeal of having a lot of mineralization near surface. You mentioned the gold oxide and a large proportion of that sulfur does that stand on its stand up on its own as a more modest project. It's always challenging when you have these big projects, cos you know, the other thing, bigger, you make them higher, the M PV, higher the Capex. But we've looked at it and we believe that we've got a, a sweet spot here. There's still a little bit more work to do on the oxide. But to move that oxide material probably means you're advancing on the sulfide at the same time. So I think, you know, they're marginal, the oxide would be marginal by itself. But if you make, you gotta move that material to get to the sulfide, you know, that's a, that's a free dig in a way. So if you can get that onto a leach pad, get the copper and gold out, I think it'll be a very good story. And as I said, you know, earlier, if it pays for itself at a minimum, that's great to move the material because, you know, in Mongolia, we don't have deeply oxidized material. It's just the weather. So we're just talking about material that sits in the upper 20 m. So it's almost like a prep, if we could scrape that off, that gives us access access to the sulfate of 20 m. So,, we've looked at many different scenarios and I think, you know, the scenario, the go forward case we'll have with the PFS will probably be the best one, following on from that previous question regarding the open pit potential. I, I respect the fact that you've got a,, PFS that's coming out shortly. But as a gut feel you regarding that open pit,, what, what do you reckon those parameters are on a, on a pay back there in terms of years. I think when you look at this, when you take our scoping study, depending on your free report and what you do,, prices of years, you're looking at a 3 to 4 year period. Ok. 3 to 4 years in the open period that it's got a 30 year plus mile. Ok, cool, thanks. Great. I think that's a wrap. Thank you very much for all the speakers and thank you to Andrew as well.