Tanya Jakusconek: So it would be in jurisdiction you’re at looking at where you could add value?
Ammar Al-Joundi: And only if it makes good return for our shareholders. I know that’s self-evident. But we’re not, for example, we’re not setting a target that we’re going to be X amount of copper because frankly that means you’re chasing something. We’re just going to be open to good opportunities. Now, to your point, we’ve had a long history of very early stage investments. 9 out of 10 don’t end up meeting our criteria. We end up doing just fine. But, yes, you could expect us to keep our eyes and ears open for opportunities in the areas we operate.
Operator: Your next question comes from Jackie Przybylowski from BMO.
Jackie Przybylowski: I just wanted to ask, I know a lot of things have been asked already, but I just wanted to ask for maybe a little bit more color on what we can expect with the update, later, in the first half of 2024 on the Abitibi optimization? I know you’ve talked about studies at Detour and Upper Beaver and Wasamac. Is there also going to be some discussion to integrate the entire district together? And maybe are we going to get some kind of information about mill optimization or infrastructure transportation, anything like that as well? If you can just maybe tell us what we should be expecting that’d be helpful. Thank you.
Ammar Al-Joundi: Thanks, Jackie. I think, well, I’ll be clear. We’re going to give some more guidance on where we are in next steps on Detour. We’re going to give more guidance on where we are in next steps on Upper Beaver. We are doing the work on transportation options, but really the best way to think about those is within the context of those projects. We are going to be giving more update on next steps at Wasamac, but probably not until the start of next year. Of course, we are talking to everybody within a certain distance of and they’re talking to us within a certain distance of Malartic with regards to future opportunities at the mill there. There is a lot going on. You are right. There is a lot of potential, but what you can expect middle of the year is really more focused on Detour and Upper Beaver.
Jackie Przybylowski: Thanks, Ammar. And maybe that sort of answers my follow-up question a little. But, we’ve heard a lot of talk about how much capacity you have with maybe different mills and absolutely with your expertise and your people in the region. Is there any thoughts or I mean is there anything you can maybe comment on now about acquisition or maybe adding additional properties? Do you see a need to add additional properties to your portfolio in the Abitibi? Or are you going to swap what you’ve got first?
Ammar Al-Joundi: Clearly, we’re focused on what we’ve got. But with the question on acquisitions, maybe we’re going to be focused more on return on capital. If somebody’s got a project that they want to build and it gets a better return for them to use our mill, and it’s a better return on capital than us acquiring the person, we would do that. A simple example, I would rather put no additional capital and make $50 million a year and put in a $100 million of capital to make $60 million a year. I know that sounds self-evident, but we’re going to look at the specific opportunities, but with a real focus on return on capital. And that could mean acquisitions, but it could also mean that some people who have good projects decide they want to use our mill.
Jackie Przybylowski: Thank you. Maybe one more follow-up, if I can. Just to follow-up on some of the other themes in the call on base metals. I know you’ve recently made an investment in Canada Nickel and it is in the at least regionally pretty in a similar jurisdiction. Is there any synergies with Canada Nickel besides personnel and sort of just expertise in the region? Would any of your facilities choose that operation if it were to be built?
Ammar Al-Joundi: Yes. I mean, our view on Canada Nickel is that, it is — and I hope I don’t upset my ex-CFO by saying this, it’s a very long-term perspective that they’re taking. I don’t see anything imminent there. Certainly, we’re not talking to them about providing people or developing anything. It’s a vision that they have. It’s a large relatively low grade orebody and they have an interesting vision. I think it’s better to think Jackie, really this is just a very early stage investment on our part. It’s a big asset in our backyard, big option on nickel. But really, it’s the Canada Nickel team running this, not Agnico.
Operator: Your next question comes from Martin Pradier from Veritas Investment Research.
Martin Pradier : When I look at the cost increase, your guidance talks about a 4% year-over-year increase. Now there are some assets where you see an increase in volumes, like Canadian Malartic and your cost increased 12%, Macassa, the cost increased 17% with higher volume. And Kittila, the cost increased 10% on flat volumes. If you can provide some color on why in some of them you have higher volumes and have much higher cost? Thanks.
Jamie Porter: Yes. Thanks for the question. It’s Jamie here. It’s really a function of sequencing, mine sequencing across our operations. You’re going to have periods where tonnage is flat, but costs are on a per ounce basis are higher or lower just given the grade profile of the individual asset. But overall, when you look at our cost, I mean, we saw inflation running around 6% year-over-year and our job as management is to try to do better than that through a higher denominator and through constantly focusing on optimizing our cost. I think we’ve delivered that with the 4% increase in our cash cost and all-in sustaining cost guidance.
Martin Pradier: But you cannot provide much color on in any of those, Canadian Malartic, Macassa, Kittila, what is driving that much higher?
Jamie Porter: Yes, we can reach out offline and walk through that on an asset by asset basis. But with 11 operating mines, it’s hard to provide a generalized answer.
