Mike Parkin: A follow-up on that is just the work on the needed new tailings dam, is that continuing to track well to plan from the May site tour or is there any delays in terms of getting final sign off on permits to get that work underway or the relocation of, some of the villagers, I believe, had to be moved out of the way. Is that all tracking to plant?
Mark Bristow: It is all tracking to plant, and it is fully permitted. So the work we have got to finish for the actual design is, we got a couple more holes to finish on the main wall just to make sure that the, because this is, the Lagoel Dam [ph], which we are using now is one of the most engineered tailings facilities in the world, and it survived seismic events. And so this is a very highly engineered dam. Foundations are critical in the way we engineer it, so we are busy with that work. And then, but the dam itself is permitted. And, we are far down the road on our consultation program with the community. And as I pointed out in my presentation, we will start moving, people. And these are people some of them are effectively squatters on state land or on other people’s owned land, but they have a right under the Dominican Republic law to that land because they have been living there for so long.
And what we are doing is building new village infrastructure. So proper communal village living and with the infrastructure and all the services as well. So it is been relatively easy to, find solutions and get the commitment to relocate, and we are busy with that. And as you know, we have done some of the biggest relocations in the world in Randgold, and they have been all been tour.
Operator: [Operator Instructions] The next question comes from Anita Soni with CIBC World Markets.
Anita Soni: First question is with regards to costs. So I can see they came down this quarter and are trending more towards the guide that you put out at the beginning of the year. Can you talk about some of the areas where you have seen cost relief and, any implications that has to the CapEx number going into next year?
Mark Bristow: So, Anita, nice to hear from you. I mean, we are forecasting another decline in costs, along with the further increase in production in 2020 I mean, in quarter four. The world is very dynamic as you know. And oil and gas are one of the key drivers of our costs in many of our operations. So yes, I think that is a good trend. I would prefer if you let us guide you on the costs for next year when we give you the full guidance. But that is really the trend at the moment. And you are right. We are getting back towards the guided costs. We are not going to make it, quite make it there because one of the drivers of the cost too as Graham has said before is, is the higher gold price on the royalties. So $100 is $5 on the cost, Graham. So $100 is $5 above our and remember, we planned at 6:50. 16:50, sorry.
Anita Soni: So my second question is with respect to the softer quarter sorry, softer years that you are going to see at Carlin and Cortez this year. So would it be safe to assume that next year, I think you were guiding to Nevada gold mines, being a little bit weaker in 2024 originally, but, with these kinds of delays in the production in 2023, could you see some of that pushed out into 2024? And maybe it is not as soft as you had previously guided?
Mark Bristow: No. I think our guidance for 2024 that we last spoke about it. And again, we were saying one of the things, just like I did in Argentina, we need to give this team a bit of a breather. It is really right at the edge all the time, and it is just not getting on top of things. And so that is the discussion you and Tanya and I and a couple of other analysts had when we were down together in PV. And we are mindful of that and we gave that indication of where things are going to land. And I think, right now, that is where I would like it to stay until, but we will tidy it up next year when we talk to you in February.
Operator: The next question comes from Jackie Przybylowski with BMO Capital Markets.
Jackie Przybylowski: My first question, I’m sure you have been asked this a lot, but maybe it’d be helpful to ask you on the call. You have said before that you’d be looking at copper assets. I know you have addressed this sort of indirectly today. But if you could just maybe be a bit more direct. When you are talking about buying Freeport, you said you would do it if you saw it at a distressed discount, and that moment is obviously passed. You have also been linked in the media to potentially looking at buying First Quantum in the past. I think everybody would agree that it looks like the stock price is a bit of a distressed discount at the moment. Does that change your view on acquiring First Quantum at this point?
Mark Bristow: So, Anita, right now, things are very fluid. As you can imagine, it must be a tough time for First Quantum. The press is not my investment banker. And so, it would be I think it’ll just be ill advised for me to comment on that question. I think First Quantum needs to focus on it is challenges, and none of us like to see that sort of event in our industry.
Jackie Przybylowski: And it is Jackie, by the way.
Unidentified Company Representative: Sorry.
Jackie Przybylowski: It was a tough question, so I understand the mistake. Maybe on RekoDiq, there has been a lot of talk again in the media about potential partners at RekoDiq. And I think I actually asked you guys this last quarter, but since then there is been more talk about whether it is the Saudi’s or Egyptian individuals? Can you just reiterate like how you expect the project to look from your side? You are looking to retain your 50% stake in RekoDiq? Or would you entertain partners coming in terms of sharing the Barrick equity?
Graham Shuttleworth: So Jackie, what I can tell you is again was asked this question by a reporter off left field. Never spoken to him about it, and he’s got about little or no chance, probably no chance, of ever getting equity in RekoDiq and I think he knows that. And that is no reflection on [indiscernible]. He’s a great friend of mine, but we are not selling equity. It is not an equity sale list. The conversation around Saudi and Pakistan and their equity is, as you know, Saudi was a big player in supporting the IMF rescue of Pakistan. It is a long-term friend, partner and supporter of Pakistan. And those conversations are being held in some form but, and we are there to support and we are, as you know, strong partners of Saudi Arabia and Saudi Arabia, and we are very committed partners to Pakistan and Pakistan.
And we are there to help wherever we can but we are definitely not meddling in any conversation. And the one thing that is clear is our 50% is not for sale. So I think that will probably help. If you ask me again next quarter, I will give you the same answer, I promise.
Operator: The next question comes from John Tumazos with John Tumazos Very Independent Research.
John Tumazos: Mark, congratulations on everything. I hope I don’t offend you, but I did a little spreadsheet comparing 56 companies and some of them weren’t gold companies. And those 56 companies in the last three-years bought back $73 billion worth of their stock. Every steel, every forest products and every fertilizer company I looked at bought back stock. The gold companies are different, Mark, so I don’t compare you to gold companies. There actually are five companies that bought back over $1 billion so far this year. And the biggest one was vale that spent $14.25 billion on buybacks the last three-years so far. Last year, Barrick bought back stock, this year, you are not. How do buybacks compare to expanding Lumwana, extending Pueblo Viejo, RekoDiq. Just walk us through how you make those choices?
Mark Bristow: So, John, that is a good question, and thank you for the compliment. Well, I think it was a compliment.
John Tumazos: Certainly. I compare you to real companies and not gold companies.
