We were 98% sure. So we were glad to finally complete that transaction. We’re thrilled. We’re thrilled to have Merom in our portfolio. We think it dramatically changes our company and we think it puts us in a very unique position to be a part of this transition. Today, the plant is very much needed in the grid from the capacity viewpoint. In the future, it gives us a great platform for investment in €“ the Hallador shareholder investment in new generation of stores, which if I was sitting here today, I would tell you it’d be solar and battery, time will tell.
Kevin Tracey: Yes. Okay. And just to clarify on that $39 million capacity payment in future capacity payments, there is no kind of cash cost associated with that revenue €“ you’re standing by with the capacity willing to provide it. Is that right?
Brent Bilsland: Yes. So what that really obligates us to do with MISO at a 30,000 foot level is by selling that capacity we are obligated to bid that plant into the day-ahead-market each and every day. Now we have some flexibility as to what price that plant gets bid in at. There are rules around that and there is a market monitor that that evaluates that to make sure that we are complying with those rules. But by selling your capacity, you basically are saying, hey, look, I’ve got an asset that’s ready to go. I’ve got the employees staff to make it operate. And I’ve got fuel procured and in position with my inventory and existing contracts to be able to meet the capacity factor that we think that plant will run at. And we are in position to say yes to all those things in 2023 and beyond. So what we are trying to do
Larry Martin: So, Brent, let me €“ even though we don’t €“ so even though we don’t have correlated expenses related to that capacity income, we do have fixed costs at the plant in order to bid that capacity into the €“ into whoever is buying it or the market.
Kevin Tracey: Got it. Got it. Okay. If I could just sneak one last one in just on the CapEx going forward, I understand it’s elevated this year as you’re opening up these new sites, but in the past call CapEx is kind of spend more in the $30 million to $35 million range. I guess I’m just curious next year, what are you thinking? And then if you have any comment on what Merom is kind of normalized CapEx will be as a company, that’d be great. Thanks.
Larry Martin: So, yes, we expect our coal cost cap €“ our coal CapEx going forward to be at $35 million to $40 million range, could be a little higher next year, even with the surface equipment ramping up the two surface mines we have. And then our CapEx, at Merom, we have two categories of CapEx there. We have just regular reliability maintenance CapEx that will be in the $15 million to $20 million range. And then we have to start analyzing our ELG to get into the Effluent Limitations Guidelines with that plant by 2025 and when we will start that process. And it’s about $40 million to $45 million over the next three years and we haven’t figured out our timing yet. Right now, I think, we expect maybe $17 million, $18 million next year, but we haven’t got into the planning and the POs for that since we just bought the plant knocked over.
