Jason Attew: Yes, it’s a great question, Tanya. I would say every opportunity we look at is quite bespoke. There’s obviously a set of needs for the partner of the intensity company that we’re looking to assist either through a mine belt or through an acquisition. And so we really do focus on the strength of that company, the cash flow of that company and try to be quite bespoke with respect to how we can assist whether it’s royalty stream equity. We do shy away from the debt piece though. That’s not really what we consider a hard part of our business. It’s nothing that we’ve contemplated to date. And I would say right now with the opportunities that we have in front of us, it’s nothing that we’re going to contemplate in the very near-term.
Operator: Your next question comes from Brian MacArthur with Raymond James.
Brian MacArthur: Just following up on Tanya’s question though. I mean people talk about these $300 million and $400 million deals. Can we assume though the majority of that price will be streaming royalties? I mean, if half of it becomes equity all the time, aren’t we getting back into the situation we had before where the royalty company’s own portfolio, but you’re probably not going to get the same credit for?
Jason Attew: So thanks, Brian, for the comment. I can only comment on, again, the strategy and how we’re going to execute our business. I can’t speak for obviously our peers and our competitors. What I can tell you is that the general point in terms of how we look at things, we do not want to be portfolio managers of equity positions go forward. We will as I said in the past, certain circumstances for which the financing is quite bespoke and it’s the last capital in with respect to an equity check, similar to what we did with the CSA transaction that was required for them to acquire the asset from Glencore. But we don’t eventually want to again be portfolio managers that effectively have an equity book. So it’s essentially, again, as we think about from royalty perspective, the priorities in terms of funding certainly royalty stream, economic interest would be first and foremost.
But if it’s some equity is required and it’s got to be right sized, that really assists with the catalyzing event, either being an acquisition or something that really gets a fully financed development asset, we will consider that and we have in the past and we have very likely to do that in the future.
Brian MacArthur: Second question is just I know you mentioned Renard and it’s been taken out, but Windfall potentially has a call option to buy this thing and maybe in the future it comes back. Do you have any other, I mean, at times, you’ve lent money into them and, do you have anything else that comes back? I mean, if this deal were to close and went forward? The only thing you have be the 9.6% diamond stream, or is there other claims you might have on some of that money that they put into acquiring Bernard if that transaction goes through?
Jason Attew: Thanks, Brian. Excellent question. I’m going to turn it over to Iain. Iain, he’s on the board, far away. He’s been living this experience for the last 24 months. So he’s probably the best person to comment. Go ahead, Mr. Farmer.
Iain Farmer: Yes, great question. Thanks. Look, in all likelihood, if that winsome transaction materializes, the stream will be vested as part of that transaction and the only proceeds will be the winsome consideration being the cash or the shares of winsome.
Operator: There are no further questions at this time. I will now turn the call over to Jason.
Jason Attew: Thank you very much, operator. Again, this concludes our call. Thank you for your attention today and listening to our Q1 results. Have a good week, everybody.
Operator: Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and ask that you please disconnect your lines.
