Amigo, thank you for the analysis and for explaining things. I...

Amigo, thank you for the analysis and for explaining things. I would finish on comparing the return of toll treatment with an onsite operation. Let's say the recovery of gold from the stockpiled ore by the onsite gear is 0.2g/ton (based on the reported metallurgy table) and it is in the form of a high-grade concentrate. Then the gold in the concentrate is worth 0.2 x $6,500 / 30 = $43 per ton (not taking into account capex of about $2 million and opex). This compares to your calculated profit of $188 per ton. So, toll treatment is superior, and is the preferred direction of the company. But onsite production of gold by the company has material benefits. 1) Installing an onsite crusher and gravity unit are the first step in building a mine/processing operation. 2) The tails can be put aside for later processing (once the company has mined its JORC-compliant high grade ore). 3) By installing an onsite gravity unit, the company can carry out their own metallurgical testing, such that extra processing options can be tested and added to the onsite operation to improve the gold recovery and gradually build its processing plant. 4) The company's processing operation would be independent of the actions and pricing of toll operators. Finally, if TG Metals plans to mine its JORC-compliant resource and become a gold producer, then at what stage will it build its processing plant? Thank you for the discussion and best wishes for 2026.