Our technical programs focus on de-risking the project and incorporating designs that are captial efficient with low operating costs. We believe the proposed changes to the NT royalty regime will help to improve project economics, enhance the projects leverage to gold price and provide a stronger foundation for improved shareholder value. We believe Mt. Todd is a superior asset and one of the most attractive development-stage projects not just in Australia, but in the world. Our primary objective is to achieve a valuation for Mt. Todd that is reflective of the gold production profile, long operating life, excellent gold recovery, favorable operating costs, robust project economics as demonstrated by the feasibility study and the fact that we hold all approvals for all major permits.
For a more comprehensive review of the work completed by Vista on the Mt Todd project, I refer you to our corporate presentation, which can be found on our website at www.vistagold.com. We believe that, Vista Gold represents an exceptional investment opportunity and that current prices represent a tremendous opportunity to establish a position or increase one’s holdings in Vista Gold. We’ll now respond to any questions from participants on this call.
Operator:
Fred Earnest: Very well. Thank you, Ina. Thanks to all of you who have taken time to join us on this call this afternoon. In summary, we’re very pleased with the accomplishments of last year. Royalty agreement with Wheaton Precious Metals has given us the resources to be able to maintain and continue the course that we have selected, of course, that we believe will add value. We are very pleased with the results of the updated feasibility study. Note that it provides confirmation of our belief that Mt. Todd is a robust project and capable of withstanding many, many changes that we’ve seen in the world in the last two years. We feel that, this is an exciting time for the project. Drilling is ongoing and as indicated in the coming weeks, we expect to announce results of the first several drill holes.
The work that we are doing and contemplated for evaluating smaller scale stage development strategies for advancing Mt. Todd are very exciting and I believe that they will attract additional interest in the project and in the company. We remain very focused on achieving a transaction and realization of evaluation that is more reflective of the intrinsic value of the project. We appreciate the time that each of you have given us this afternoon. We hope that, today’s call has been informative. We invite you to seriously consider the opportunity that is presented by an investment in Vista Gold. We think that, there is a tremendous value-creation opportunity here and we would love for each of you who are on the call today to be part of that. With that, I thank you for your time and wish each of you a very pleasant afternoon.
Operator: Thank you. This concludes today’s call. Thank you for participating. You may all disconnect.
