 Mr. Fred Ernest, Fred is the president and CEO of Vista Gold. We happen to own Vista Gold. Vista Gold has a huge project, the Mount Todd Project in Australia. We've talked with Fred many times and we're here to get another great update from my man, Mr. Fred Ernest. Fred, welcome to TFNN. Tom, good afternoon. Great to have you on again. And what I do have up here, Fred, is that I have your new update. I mean, there's been a lot of news since the last time that I had you on. You got that investment from Wheaton Minerals. So if you could walk us through, I have the actual new feasibility study up so folks can look at it as we're going along, if you could just give us an update of exactly what's happening with Vista Gold. Absolutely. Tom, thanks for having me on again. It's always good to chat. As you mentioned, in December we announced that we'd completed a royalty financing with Wheaton Precious Metals that'll result in $20 million coming to Vista. We've already received 10 and we expect to receive the second tranche of $10 million at the end of June. Just a few weeks ago announced the results of an updated feasibility study for Mt. Todd. We last announced the original feasibility study in February of 2022, shortly after we were faced with a huge amount of inflation and pressures in that regard. The first quarter of this year we updated both the capital and operating costs. The reserves are unchanged as 7 million ounces of proven improbable reserves. The CAPEX has increased a little bit as you would have expected given the environment that we're in. But I think the most important thing is that with using even a conservative gold price of $1,800 and a foreign exchange rate, a conservative exchange rate of $0.69, that we have an NPV-5 of the project of $1.1 billion and an IRR of 20.4%. If we look at that in today's gold price, and we've just used $2,100, I really should update this for $2,200, we're knocking on the door today, but at $100 and a $0.66 foreign exchange rate, the project has an NPV of $1.9 billion U.S. and an, I'm sorry, an NPV of $1.9 billion and an IRR of 29.6%. So what we've done is we've demonstrated that even though we've been through an inflationary period, Mount Todd is a robust project and the economics have actually slightly improved from what they were a couple of years ago given to changes in the gold price. Which is really cool because we know that the prices of everything have gone up dramatically. And I guess what has happened, of course, because you have so much infrastructure that's already built there, that's going to help tremendously as we move forward. You know what is really cool is that the aspect of Wheaton Precious Metals actually coming in and investing in your company. So can you talk a little bit about that? Because I've talked about it on the air, meaning, you know, Wheaton is a great banker. I mean, you know, and it's a streamer and I understand that, okay? I'm just trying to explain to folks how they work as banks basically. And to me, Fred, it would be like, okay, there's no way that Wheaton's going to come in here if they think that this is not going to actually get built at some point, right? Absolutely. Wheaton Precious Metals is a first-class organization. Yes. We started talking to them last year in April. We had a lot of back and forth discussions over the course of the summer. By the end of July, we'd agreed in principle to some terms, and then they began to really do their due diligence. They brought a group of people to visit the site. And we spent several days with them, and they looked at everything from the resource assessments, the line plans that one of their people even attended a meeting with the John Aboriginal people with me. Just to get a sense of our relationship with the community, you know, we're very pleased with the endorsement that comes with Wheaton Precious Metals providing a royalty opportunity with us. And certainly, we hope that this is the first part of a long and mutually beneficial relationship with Wheaton. You know, I can see that. I've been following them forever. I was actually following them. You know, it's wild for it. It's just that this week is the 22nd anniversary of my gold report. I can't even believe it, man. 22 years. It's like, okay, that was a fast 22 years, man. So when we talk the price of gold, you know, it's so intriguing, folks. And listen, folks, okay, it trades on the American, New York Stock Exchange on the American pot. It trades at 52 cents right now. If you go to vistagold.com, you're going to see this whole feasibility study. And I suggest that you should go through it, because it's a beautiful thing to look at, particularly Fred, when gold's trading at this 2200. And I see some of the costs that you have in there and the assets that you have in there. I mean, you're going to get gold out of the ground at a very inexpensive price. So can you talk a little bit about that, like the gold out of the ground plus the all-in costs? Because those all-in costs seem to me like a very reasonable, well, they're great. They're not reasonable. I mean, that's the reality. Well, the fact of the matter, you know, like I said, we updated not just the capital costs but the operating costs. Yes. And the update operating costs for the life of the mine is estimated to be $913 an ounce. The all-in sustaining cost for the life of the mine is $1034. That's below most of our peers. Yes. Look at the senior producers. We look at the junior producers. We look at the intermediate producers who are projected cash and all-in sustaining costs are on the low end of this. And this just speaks to, you know, the large scale that the project's been designed at. We think it's one of those things that should make this project very attractive to a partner. Yes, I can see that. Now, can we also talk about, and so, folks, what happens when you're going through this, you want to understand that the aspect of reserves versus the drilling that is still going to be done. So, can we talk a little bit about, because when I was reading this, Fred, it seems that, you know, you have the reserves in place. And then you also have the capability, you know, once this gets up and going, in order to drill, I mean, your land position there is huge, man. Yeah. We have over 1,500 square kilometers of exploration tenements that cover two structural corridors that are known host to gold mineralization. The one, the Batman Drifield trend is anchored by the Batman deposit, the Mount Todd project on the southwest end, and it projects to the northeast and then a little bit farther to the north. We have the Drifield trend, and that's another, we've got some targets on it as well. We're really excited about the exploration package that we have, and we look at Mount Todd not as a one large project district. This is at the south end of the Pine Creek district, the gold's been mined for over 100 years. We think that within our exploration tenements that there will be another two or three deposits that are discovered once appropriate exploration activities run tremendous opportunity. No, it's absolutely huge, and folks, okay, it's very easy to get this. Come over to vistagold.com, check it out, read it, you know, it's great reading. Well, Fred, it's always a pleasure. You have a great one, a safe one, have a happy Easter, and of course we look forward to having you on again. I look forward to it. Thank you, Tom. Thanks, Fred. Take care. Stay right there, folks, we'll come right back.