Over half of that is indicated. That was last recalculated in 2022, four years ago. We have done 50,000 m of drilling since then. That resource was also based on three gold deposits. We are now modeling six. We have made a number of hard rock discoveries since then, and we have been getting some pretty good drill results. We have got six rigs running. We have recently drilled 9.5 m, 87 g/ton, but there are a number of other very interesting high-grade targets in the district that we control. We are right next door to G Mining's Tocantinzinho Gold Mine, which has been a huge success. I am a pretty big shareholder. I have so far invested CAD 2 million of my own money into this. We have been credited with five grassroots gold discoveries in Brazil over the last 20, 25 years or so. I founded this company with another guy about nine years ago. I am ex-Rio Tinto and BHP. Brian Arkell used to work for Newmont. Brian is our VP Technical Services. Luiz Celaro has just built the Phase 1 mine two months ahead of schedule here and on budget. Elton Pereira, very accomplished exploration geologist in Brazil, and Ruari McKnight is an Australian that has been living in Brazil for 30 years and is our President Brazil. Jon Gilligan, who is the COO of Liberty Gold, he is our Chairman. Larry Lepard, fund manager. Larry is here. Vinicius Domingues is a senior guy at Vale. Ian Gendall is a geologist who runs DLP Resources. We are about a CAD 500 million market cap company. We are currently trading at about CAD 1.60. We have, it says [$55 million] cash here, but that is now about [$70 million] because we have just executed on our first gold sale. In the last 12 months, the stock has appreciated by 300% approximately. It has done reasonably well. We have got some good institutional shareholders here. Our largest shareholder would be Alpayana, Peru's largest private mining company. We are in an area of Brazil called the Tapajós. The Tapajós is historically the world's largest gold rush. There was a massive gold rush here that happened in the 1980s. Cuiú-Cuiú, which is in the middle of that trend that you can see there, was the largest placer field. Very prospective. 95% of these placer fields, there is no source been identified yet. It just has not had the exploration work. Moving in, as I said, we are right next door to Tocantinzinho, which is the third-largest gold mine in Brazil. We are on the same geological structure as I showed you earlier. That is that line, the dotted line you can see there. A couple of things here. Historically, Tocantinzinho, the placer field at Tocantinzinho, produced an estimated 200,000 oz. The placer field at Cuiú-Cuiú produced 2 million ounces. The placer field here was not twice or three times the size, it was 10 times the size. Also, the golden soil anomaly that we identified originally at Tocantinzinho was 1 km across. The golden soil anomaly at Cuiú-Cuiú was or is currently 7 km across, and it is still growing. This is zooming in on our area. All these sort of shaded areas are drainages where gold was recovered from gravels, placer gold, by the old-timers in the 1980s. What this shows are the gold deposits that we knew about four years ago in brown, Central, MG, and JB. That is where the 1.2 million ounces currently is. The discoveries in yellow, they are discoveries we have made since 2022. We are modeling all of these right now. We are updating the three original ones from 2022, and we are putting maiden resources together on the other four. That table on the left there shows that we have been getting some pretty good results on the new discoveries in yellow. I mentioned the 9.5 m at 87.4 g that you can see there in Jerimum Cima. Also, some very good results, notably Machichie North East, which has been returning some very good high-grade results over good widths, 12 m at 27 g/ton, 11 m at 33 g/ton. This is the Central gold deposit, so if I go back one, you can see the Central gold deposit there. It is on trend with another discovery called PDM. The length of that individual trend within this property is 5 km. There is a lot of upside within that trend. This is, again, a geophysical map showing the location of the Central gold deposit. The thick black lines there are the golden soil anomaly. This part of the property is about 5 km long, as I said. We have got some excellent targets here. You can see there the PDM discovery at the north. That is one of the four new discoveries we are modeling now, and we will have a resource on that one, just like all the other ones by the end of the year. There is a 5 km long trend here. The Central Southeast target, which is 500 m southeast of the Central gold deposit. We have drilled five holes down there, and you can see some of the results there, 27 m at 6.9 g/ton. That is an area we are going to be following up in the next 12 months or so. Between Central and PDM, we are currently drilling now. We have got the Mutum target, where the trenches are averaging 0.9 g/ton- 1 g / ton. Also the Mutum West target. We are also getting some interesting drill results. There is a big gap there between Central and PDM, and we think there is a good chance that all that gap area is going to be mineralized. As I said, we are drilling right now. The MG gold deposit, second one we found. This one is a similar size to Central, currently about 500,000 oz, but both of these gold deposits are growing. This one is about 2 km long by about 60 m, 70 m wide. There are a number of high-grade veins within the low-grade halo here, the low-grade halo in yellow and the high-grade veins in red. That box there is averaging about, that is about 2.6 m at 28.9 g/ton. That vein we can trace within the low-grade halo for about 700 m or so. There is another new discovery. One of those four new discoveries that we have made is immediately north of the Machichie gold deposit. You are looking at it there. The dotted line here is the extent of the weathered envelope, if you like, or the weathered profile. That is the material. We are actually currently mining the Machichie gold deposit. There is another one that will start. There is also this Machichie West target there. I mentioned some of the drill results we are getting, which is a couple of hundred meters further to the northeast there. That needs more drilling. We are currently expanding the Machichie deposit, and again, Machichie is one of those new targets that we have discovered since 2022. Jerimum Cima, this one's about 3 km east northeast of Central. It's the newest gold deposit that we've found so far. This is the one that's bringing some really spectacular drill results, including that 9.5 m at 87.4 g/ton. It's a wide zone. It's about 200 m wide, north south, and so far we've traced it for about 600 m, 700 m east west, and it's open to the east. Again, this will have a maiden resource on it as well within the next three months. The regional potential here is excellent. We've got a number of regional targets. What we've just been looking at on the target pyramid here, the 1.2 million ounces at the top of the pyramid in blue. The new discoveries, some of which I've mentioned already, are that second bar down in green. In the middle of the pyramid here, you've got targets where we've got a few drill holes, recce drill holes. There's about a dozen targets here, 10 or 12 targets. I mentioned Central South East, which has got five holes, 27 m, 6.9 g/ton. But there are others here. Machichie SW, that's got a couple of holes, including 3.4 m at 36.9 g/ton. Morro da Lua, 2.8 m at 19.5 g/ton. I think there's just two holes on Morro da Lua. So a lot of follow-up drilling that needs to be done on those. Underneath that, you've got that brown bar, second from the bottom of the pyramid, where we've got mineralization in outcrop. So we're finding gold exposed on surface, notably the JN target there in the north, where we've got a trench that ran 5.3 m at 24 g/ton. Mutum over by PDM, the trench is there, 32 m at 1 g/ton. You can see in the middle of the district there, [Baixao da Onça], so 14.7 m at 2.6 g/ton. Again, all these things need drill testing and follow-up. Then, in gray, you've got boulder fields. So these are boulder fields, big blocks of quartz lying around on surface. We don't know where these boulders are coming from. We've got about a dozen, 10 or 12 of those, some of which are on this map. Notably, the Alonso one, which is just to the right of the scale bar there. The boulder field there is about 300 m across and is averaging 91.7 g / ton. Average. Tracajá, which is over there in the central part of the slide on the right-hand side. That's 5 km from Alonso. The boulder field there, a similar sort of size, 300 m or 400 m across. The boulders there are averaging 74.9 g / ton. Obviously, on all these boulder fields, we don't know where the gold is coming from. So it is a true district, which is excellent. Lots of upside to the district. Lots of exploration work here still to do. We're ultimately targeting, in the district, 5 million oz- 10 million oz. As I said, we are growing that current resource. We will have a new resource update out at the end of this year. It will be a big jump on the previous estimate. But it does represent an excellent opportunity. It also represents a challenge. The question being, how do you actually effectively explore, as a junior company, a district this big? This is more sort of a Newmont or Kinross sort of size target area or target district. We have decided that rather than do a JV or rather than continually dilute. We will develop this district in two phases. Phase one is to mine the saprolite material. All these gold deposits are weathered to a depth of about 60 m. That saprolite material is what we're mining now. We're going to start relatively small at 3,000 tons a day. As I said, we just had our first gold pour on the 10th of September. Get into cash flow. First full year, we should be doing 25,000 oz at about $1,200 all-in sustaining cost per ounce. Then go after the hard rock project, which will be a much larger project. We are planning a PEA on that Phase 2 hard rock project. Probably, to give you guys an idea of size, that will probably be targeting 150,000 oz a year, but we've got to do the PEA next year. That's the Alonso. That's the material on the left that we're mining right now. That's soil on the top, and then the paler material at the bottom is saprolite, and as I said, that extends about 60 m below surface. It's all free digging material. We don't have to drill and blast here, and we don't need to crush or grind this material to recover the gold. We are heap leaching this. We're putting it through a sizer, and then we're agglomerating with cement. There are five of these blankets, what I call blankets. They're basically the tops of the primary ore deposits. Currently, we've got about 300,000 oz in resources here, and about 130,000 oz in reserves. Those numbers are all expected to go up within the next couple of months as we update the resource estimates. We've just started the one in the south there, south central area. That's the area we're mining right now, the MG blanket. Next year, we'll start on Machichie. Mining will continue on both of these. Typical cross-section. The orange blanket material at the top, that's the weathered cap. It's about 60 m thick. Then the stronger orangey colors at depth there is the hard rock material, which would form the basis for Phase 2. No big surprise where the hard rock deposits come through and project into the weathered material, you get the highest grades. That drill hole on the top of that ore body there within the saprolite material, that's 60 m at 3.5 g/ton. I think I mentioned we got about 300,000 oz of resources here in the oxide material only. There's about 900,000 oz currently from four years ago in the hard rock, and that's going to be updated. About 130,000 oz in the reserve base. The PFS economic analysis here, this is a six and a half year mine project, or was 18 months ago. That mine life is going to grow 3,000 tons a day or 1 million tons per annum, an average grade about [0.7 g/ton]. I think all these numbers are going to go up here. We are currently expecting to expand this operation to 2 million tons a year, 6,000 tons a day by this time next year. These numbers are all going to double. Heap leach operation on off pads, pretty simple. We agglomerate this material. We put it on pads. Each one of these four pads has 120-day cycle, 30 days to stack, 60 days to leach, and 30 days to wash and remove the spent material. It goes through a series of carbon columns and electrowinning cell, ADR plant, and we're producing doré right now. We've produced about 80 kg or 90 kg to date. We've only been at it three weeks. The base case, the PFS study that was released in July last year, was all premised on a base case gold price of $2,500 an ounce. At that gold price, obviously, the gold price is a lot higher than that now, we have an after-tax rate of return here of 78% and a payback of 10 months. Those numbers are considerably better. You can see the upside case there that at the time was $3,500 gold, 151% post-tax payback, and a six-month term for paying that capital back. This is it. These are some photos of the operation. That's the dry circuit on the top left, the wet circuit on the right with the ADR plant and the carbon columns, and then the first pad there that's being irrigated, and then some of the gold bars from the first pour. Timeline. We're past the first pour. We're now in ramp-up. As I said, we are expecting to declare commercial production, which I should really add into this, in November of this year, so in a couple of months' time. Short-term catalysts include commercial production in a Phase 1, in November. We are going to update that global resource estimate, as I mentioned, also by probably end of November, December time. We are going to put out news here in the next couple of months on our Phase 1 expansion plans and that doubling of production from 1 million tons to 2 million tons. We have six rigs turning, so we've got a lot of exploration drill results. That will almost certainly continue well through 2027. That will be a minimum six rigs. We may well go to seven or eight rigs for 2027. What's the opportunity here? We're commissioning, we're almost complete the commissioning of Stage 1 right now. Commercial production expected in November. As I said, it looks like a very profitable mine. The leaching is proceeding extremely well. We have an existing resource base here of about 1.2 million ounces, which is going to get updated by the end of this year. We have a track record in Brazil. We've got a lot of our own money at stake, and we are next door to Brazil's third-largest gold mine. We have a number of new discoveries since the resource was last updated in September of 2022. Six rigs turning. Some very good drill results have come out of this. The project is district scale. I hope I gave you some flavor of that with the slide with the triangle on it. There are a lot of targets here that need to be tested, and we don't need any additional capital. There's no more dilution going forward here. I think that's it. I'll leave it at that. Great. Thank you. Any questions from the audience? Could I ask you what your cash position would be and what you plan on doing? It sounds like you've got a lot of excellent targets there. Your potential exploration budget for next year? The cash position right now is CAD 70 million, or thereabouts, in broad terms. Obviously, we're pouring gold every week, and we're making significant amount of money versus our operating costs. By the end of the year, I expect the cash position to go up to CAD 80 million, CAD 85 million. The exploration budget for next year would be We haven't set it yet. We haven't agreed the budgets. I think it'll be $20 million-$25 million a year next year. Great. With that, if no further questions, I'll wrap it up there. Thanks. Thank you.
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