Bill MacNevin: We’ll still continue mining. We just won’t be mining at the rates that were projected previously. So we won’t be increasing the mining rate to the rates we projected before, but we will continue mining. And that all that’s coming out between now and when we talk about that potential plant expansion will be going on to the heat leach as previously planned.
Ovais Habib: Got it. So that’s it for me, guys, and thanks for taking my questions.
Edward Farid: Thanks, Ovais.
Operator: The next question comes from Michael Siperco with RBC Capital Markets. Please go ahead.
Michael Siperco: Hi guys, thanks for taking my question. Yes, a lot of my questions have been answered as well. Maybe just I know you don’t want to do this necessarily, but I’m struggling a little bit with the 10% to 15% that you mentioned in 2024. Can you put it in context a little bit in terms of the split between Çöpler and Marigold in terms of where the bulk of the impact will be? And I assume that there will be an impact on Marigold guidance versus the prior outlook. Is that fair to say?
Edward Farid: Yes. Look, Mike, I think it’s a bit early until we release our guidance targets to give you the exact split of ounce impact that’ll have to come through as our technical reports are finalized and our budgets are closed out. That being said, if you thought about Çakmaktepe Extension as a 90,000 ounce per year run rate operation and you took a discount to the amount of ounces being produced there annually and then a delay of half a year, out of Red Dot. It should begin to give you a sense that the distribution is largely I can’t give you an exact percentage, but certainly split between both operations and burdened by both operations.
Michael Siperco: Okay. That’s helpful. That was going to be my follow-up on Çakmaktepe and the contribution expected for next year. So would it be fair to say I think the guidance was 15,000 to 20,000 this year? Would that be a fair sort of run rate to look at for ongoing operations at Çakmaktepe in 2024?
Edward Farid: Yes. This year the Q4 is going to operate at 10,000 to 15,000 ounces is the target. Next year, we are currently still working through what I’ll call as the trade-off studies of how much in terms of production gets contributed from Çakmaktepe and gets placed on the leach pad. The key again here and I’ll make sure we reiterate it, is that with Çakmaktepe there’s a 1.7 million ounce reserve. That reserve has grown substantially as we have continued our drilling and both — our step out drilling and our infill drilling converting some of the resources to reserves. That is what’s triggered this decision to build the grind leach circuit because at the moment, all these ounces are going to be stacked on the heap leach pad and get recoveries in the range of 60%.
By installing a grind leach circuit, we could get recoveries north of 80%. And as you think about the quantum of ounces there, it’s MPV accretive for us to do so. And so we may be sacrificing a slow or taking on a slower ramp up at Çakmaktepe in exchange for NAV accretion. And so what we’re doing right now in the trade-off studies is seeing how many ounces that we should stack at the moment and how many ounces are going to go through the grind leach circuit. And so hopefully within the coming two months, you will have a very good picture as to what that distribution is.
Michael Siperco: Okay. That makes sense. So it’s not so much you’re looking at whether or not to do it. It’s the suppose the pace of putting material on the heap leaches versus the longer-term NAV appreciation from running them through the plant that you’re looking at. Is that — did I hear you right?
