 Today, I have the distinct pleasure of speaking with Randy Rifle of Chesapeake Gold. How are you today, Randy? I'm great. Thanks, Tracy. And of course, you have just announced an updated pre-feasibility study, but I'm going to back you up and just start by asking, you had one in 2013, why have we done the second one? Yes, that's the question being asked about the press release today, and the main reason being is we wanted to see whether this big project, which in 2013 had a capital cost of around $4 billion. And could you start a smaller mine at a lower capital cost and show economic returns at current metal prices? And that's the essence of this study today, showing you can do exactly that with metatases. Well, I did enjoy reading your news release this morning, all 11 pages. So could you tell us what some of the updates were in this new PFS study? Okay. First off, it's smaller throughput, so it's starting off at a 30,000 tonne per day versus 60,000 tonnes per day, so a smaller size. I did a lot of de-risking in this report in terms of water, environment, tanling's management, which I think are very key in terms of industry looking forward and potential M&A interest in the project. So that's really, and the economics, looking at a lower metal price that we had in 2013, and how does all this extra work, extra costs, but at a smaller throughput, does it still make economic sense? And there's 11 pages of information, I know, in a long press release, but it's two years of work as well. Okay. And for those of you out there that may not be familiar with Chesapeake Gold, can you give us a bit of an overview on how this is basically one of the, a handful of the top gold, silver and zinc prospects in the world? Absolutely. And that's where Matatis is in a very small, pure set, probably of five or six of us in the world. In this case, we have 18 million ounces of gold, 500 million ounces of silver, and four billion pounds of zinc in reserves in a good political jurisdiction that's mind-friendly in Northwestern Mexico. So they're hard to find, and to get these things to see if they can make economic sense at current metal prices is a struggle, but we've been able to do that with the lower throughput at Matatis, and I think that's what's changed and what's good looking forward. So, Randy, we just had David Morgan in here earlier today, and he was talking about Chesapeake Gold and really the people that are on your team, your management and board. Can you tell us a little bit more about some of these very well-known names in the industry? Yes, for sure. I mean, Chesapeake is really, the management is from the old Francisco Gold team that sold their company in 2002. We've been in Mexico almost 30 years, so we're quite comfortable. We know how to do business there. We've been very successful, found a mine that became a world-class project for many years. And so right from our technical team, we've taken projects to feasibility to grassroots discoveries. We've got a good history and success track record in Mexico. Well, I would argue you have an incredible reputation. That's what people always tell me when they talk to me about Chesapeake Gold. And speaking of that, let's talk about money. I mean, Chesapeake Gold, how are you positioned financially right now? You have what, 24 million in the bank? We've got 24 million dollars in cash and marketable security, so essentially bonds and short-term GICs. So we're very strong, almost 50 cents a share in cash. And our big burn rates behind us in terms of spending money on matates. We don't see a lot of future development. I think we've de-risked this project in a very solid effort. And so we're very good forward here in terms of cash position and choices going forward. And speaking of cash positions, Christopher Eccleston, our mining strategist and of course of Halgarten and Company, was talking to me about your all-in costs. Can you tell me what he was describing when he was talking about this? You mentioned an advantage. Right. Well, that's kind of the new metric now, how mining companies are reporting their costs of production. There used to be just a cash cost, which was a cash cost at the mine, but you have to capture all of your other costs in terms of producing an ounce of gold. So there's exploration, there's sustaining capital, there's some G&A costs. And when you put all those in, you have this new term called all-in sustaining cost. And we have a very low one in matates at around $662 an ounce, which is clearly in the lowest quartile for the industry. So very attractive. And of course, there are a number of other advantages with matates. So you're on the board of Goldcore. You know Mexico well. And I've read about water advantages. Can you give us a couple more highlights about the infrastructure, for instance? Yeah, that's a couple of the big changes that's in this study. I know it took a little longer than we expected to complete, but we've done a huge job in terms of water. In this case, the study looks at a desalinated water option as opposed to natural runoff entirely. And it's really a win-win-win, because what we're doing being so close to the Pacific Ocean in terms of the water that we would share or take from stakeholders, we can replace at a very low cost, at the same cost for natural runoff water with the Mexico government charges. So stakeholders love it. The government likes it. And it's good for us. And we have a long-term price for water, as opposed to a risk price what the government might charge over a 30-year mine life. And we have supply. So I think that's a huge change in the study. It's sort of behind the scenes. But water is critical. It's something that I think we do a very tough job trying to predict in the future, because it's so uncertain to us. And speaking of predicting, what should we look forward to as shareholders of Chesapeake Gold in the next year? Well, we're going to work very hard on an organic pipeline around metates. I mean, our team has been more known for success in terms of exploration or the old boots and hammer type of team. And so that's what our focus will be, to try to develop some regional, organic opportunities that could be mine drill ready projects and build up a portfolio that would supplement metates. As one of a handful of world-class deposits, what separates you from the rest of the pack? Yeah, that's a great question, Tracy, because I think that goes back to the heart of this new updated PFS. The big difference with Chesapeake is that our grade of our deposit, its highest grade, is in the first third of its mine life. So you have your best values, you have your lowest stripping costs, or our lowest mining costs are up front. And the other two things we have is we've got close access to key infrastructure so that you're able to mine the sore on a smaller basis. And therefore, at the end of the story, you have a lower capital cost to put mine into production. The other big deposits for the most part are in remote areas, no infrastructure, and you have to build big front end infrastructure at high capital costs to start mining. So they can't start small, they have to be pretty much full name plate at the get-go. And that's a huge factor for Chesapeake compared to its peer group. Well, Randy, I'd like to thank you for joining us today. It's always a pleasure. Oh, pleasure is mine. Thanks, Tracy.