Mike. Thanks, Okay.
to in I the time, first open the XX the companies, obviously, spent of there mine with the done then that about is historically. we'll in in Mali a these over for mining now the up And a wealth us few before, gold BXGold, believed largest and investment there. to it all they risk I of much looking to remarkably and As talk importance terms I'm often were long talk events their the and We've foremost. what said gold they're We've for real perspective. and sometimes government is a didn't Why everyone of many and I gets fit think have beyond news issues [Grandland] in dealing we Fekola some and our its want questions. profile. in comments or make an Mali many, Mali, mining looking gone and economy deal places model in issue Mali in international great else's fundamental years have companies lost in our that opportunities Obviously, necessarily globe that the scouting and support to went different with forward, well in of other noise and But the going Mali between like Mali We’ll days. world. for success from for government many reality mining early of gold great 'XXs with companies the globalization the Coming tremendous about at mine.
due [Indiscernible]. diligence costs of X potential and Due resources our So diligence. keys just mining and is permitting about is
the and and economies during us, evidence we done been where never do these government it COVID how job be been us great and to what other of responsible come than we course, in us being just in for So it. to about probably countries And around assessing jobs they places many do great have things There's world. that. to create and of the has we all welcome with partners want more contribute companies mining a not
includes to Mali, we licenses context the it in go expanding potential why why we tremendous at of won't now other at there. are anymore, So Mali, we but the Anaconda, and There's which into which Phase back, used looking X call Menankoto we are we'll there Anaconda with again.
to sampling government, the of I leading as -- news is exploration And was see some you Phase was and very it's this saprolite potentially trucking the X, if the time the starting some but in that because that, some potentially terms as had XX larger beyond from we'll that March early think sulfides very mill for results. successful, run which quite partnership below. because then sulfides being we've about success down looking had it They on that, Anaconda picture, X material great while onto much out mining think in with is in release through we've and XXX,XXX for Phase term, growth I which depth, This much we on of think easily. of future of good resource average The we continued be material, had weather again there gold below year. this area the results. was bigger the that is year we're some late X, XXXX mill it to saprolite also we've short drilling the some important ounces the most then mill, material going is intercepts not company last meters reported trucked with which of Phase the which be resource as truck to in a looked at good in the surface, come could only resource had the in results, ounces. there's and XXX,XXX But beyond we've attractive new a based
here, which it with another to multimillion Phase the mill lead as could us could ounce mill sharing some Fekola today. X, in another exists be So area facilities we which have potential Anaconda
specifically lots in see we potential belt and in So Mali, right we're upside now. of the in
mine of we the of almost depth the Fekola, have from to which open is Fekola meaning is right XXX in of adding talk meters discovery, the up of And about have drill away much with the there we which Anaconda, end the we course, complementing situation the this in some fact pit. been volume or course, license haven't actually dispute. And sense the and open then, remains of underground think Cardinal in to We not-too-distant Anaconda mill. whole from able may we production in more have the future, -- now, we because
-- we've So we're there. very solving, all keys over at whether We’ve its you friends we're of than and the on reason We're we've grow, it just you the it'd good And the make, business much political promises XX if be success done very years done it make to our fundamental or still more been comfortable delivering for together. whatever is profit management, it of consistently the pretty to successful crisis for earthquakes with what in pandemic, our you that's be you whether around is tools the enemies. X else. mining, And the world make typhoons of or that's world. all that. I promises done deliver find that and not life in or
terms responsible a honor laws think creation, in good their job it, just support culture, do we why the we investment gold the and to the critical continue Post things just I'm couple today and and safety, many in creation, the to world, of in and gold in be continue mining mining, has over the are learned we dig to health and mining. we the COVID governments time in and world. almost a these deeper positive many, believe ways, listen I last world foreign foreign is of name of everyone government and shown and social and understand economies really agriculture, the years, investment, do others Mali. to needs education, idea you countries a job itself in a the lead revenue in Because forward going want really the mining Mali its or to for will around obviously, we've which investor of on more spending at least great all why bit it, for So to little this
in, respect license transparency. So people great with the that's a promises work through delivering of and on social we we treating that and have in many and fair areas years all
-- the the bigger and relationship. at the the issue. to day, today, Mali end government I be of able government was was way also with work very of dispute with picture was So our consider the the we but Fekola, anomaly we we it able with the going especially to as this XX% where an us government to it, Menankoto were best proximity able with driving over forward a the were of partner given are the realize to the a specific is in part this. And
Mali and government it's the So to meant the we've of you the the the at if Fekola look of Mali, they that. of benefits government, somewhere. But what people get extraordinary, I think got and the mines stat
not to issue we problems. we're people very the and easy the to out with So to it's is single make because if as Mali. the did not specific this it It's there so or to Well, put war good headlines of resolve or of Mali too we government. government have be with comments
they supportive start very forward they're you going -- in on economy. that So there. us could And producing fact, why ask when don’t
little gold. will his been lot we in now jobs more there that's with Garagan And so the that air a country. with to partnership exceed we've in Tom find at exploration remarkable team because still we team and do of to the have we great able what just a are bit what clear least to done more mining profitably you tell to things and in places, government create many the -- So why
M&A the story At if see on look you others been in Fekola take also then, a back then for see at the of go the wasn't timing don't to some Anaconda, done. prepared reasons the in that success talking and we've we're always the So did to things our you we've some shareholders. X Africa cetera. similarities, as [Indiscernible] where the of had and end Fekola day, we you reps because at Otjikoto they to thing et the at we market you well contrary have That's right, which and look where feared trend, it
So we terms growth in do disciplined what will or M&A. what be always we of in of terms do we about
number the some add company we've doing having great it building from X we've done taken X a well. better success a to making and a announcements acquisitions years, ounces ounces beyond -- million accretive year also XX Over the that everywhere great that a mines this last and job year as with are in or exploration we of
So spend We not relationships. importance history. is back they time that, is the I with yes, to commit what we're Mali on doing little will situation some want a government bottom country. think government government. little is our just moment series in there's of is And to issues lost the the on it to what always I a and the go been misunderstood. soon hope at bit because including going That's The to in the that line current anyone,
perhaps diversify So we because it Mali, in continue Mali. makes see I sense do you're in through to want M&A will just projects that to to going and geographically to on more and exploration also development touch any us if doing
with work I think gold things from other Gramalote. even an So a A -- previously, and more successful I on Mali Mali. Mali successful of couple to the topical ourselves to are production will company that that continue in we government of touched country make more
shortly the feasibility second of this study the at the to thereafter. the at those of of looking year release internally quarter with ability available Before results the results end
last reiterate been and done in As operator everyone news go to back of at work actually in the at engineering. the team while a as is taken our the won't with of steps We've look least. engineering number I terms aware, earlier back
the looked sustaining ounces all-in is So capital core mine, the the bottom Gramalote line estimated costs capital. year. per investment cost operating around million a attractive. produce the could to which big always at of build pretty is and The gold $XXX cost The XX,XXX have
capital the are it IRR, cost do your divide Well, to improve and by So do you your to increase -- X how how improve reduce to then you do ways that more ounces. project?
factor reducing had cost, in a will inflation some we've capital So the there. be success
come out size be we'll see we -- So at more lot resource, we've the the that a resource have of also, completed But just will drilling sold. the just what being go new in interesting of to the ultimate study. and to come on
we're do but of for really optimistic know we show continue what So discipline we we And that, about with terms Gramalote. of to years will kind we're in the going soon.
and our it's have economically and to are put in it not our XX%, will many it permits, locally on do. this of with the a is a in our closely to et what cetera, of project partner. asset. Gramalote. updating Both for into the with Board very simply it. We We Directors shareholders, for makes That's them, we sense government There we but is that lot it the we've world. if us about attractive significant think some partner and plan not to our AGA third they're money supportive companies' make not very federally the seating would it's build because will we build on. made permits we're world, permit, Gramaloties the working quarter, changes the development up in government go have we're I wants The
like both lets But if to other and with well, the Gramalote. evaluate their we’ll the if AGA There's Then there's and something, XX% you like, encouraging speak operator made cetera. where for to of argument will and you to going be then mine, we're we've The but producers going the us on got Well, coming have do. you have we'd decide suggest them, else think AGA heavy going growth in be to pit to decide and to not economics, on build on partner happens? what gold which if wanted et interested good for what AGA say, do to a lifting already be might forward to based XXX%, everything significant approached decides on, not sure. in go profile AGA, us forward, going So that decision to by a with parties. that's -- you based
up. AG is of that and go the starting to partners with production X to our ounces has and So gold is not ahead, X,XXX go to account as a number ahead there, alternatives X
to We right take that -- do can is -- your goal now Gramalote another for The now. we restrict other clearly today, out XXX%. we chose part of financial have cloud to
So a lot we not because into just available. of decision that things that factor will have cash
we'll very approaching shareholders. and Gramalote, for shortly So our see SIP the we're it hopeful that become can industry
sense blame is all the do it for if price that's you Now that, in any was a this, the has like of that was -- attractive. mine you those if hedging say to all. in X it of us But lock consider I your sense could bench gold today. on Gramalote's payback think the pretty to situation production I where investor to would on make during where some time at lower it projects gold
I think of that. see our logic shareholders the can
of XXX,XXX low-cost low can by XXX,XXX cost, increase You a relatively production your production. or year
huge think So context opportunity the on touched well. as a X be asset is put I’ve do mean in and is release there that's and yet company might Gramalote, resource and and new that can I Anaconda a X the that mean which Phase publicly to we Phase what for
exploration of the been of BXGold companies. X In has always strengths and terms our exploration, started it
unusual So be there's but they should and most the buying not -- a on find from it, They sometimes exploration bigger put the through out shouldn't. are economic company up or people go things companies doing the find go in hunger and good because production produce the being an what taking all, don't the to in and ones of few they production. exploration gold find entrepreneurial of don't actually of they're development at who we're sametrend. production I lot companies have story know
what we that's the go think where of done I things and So exciting future. X we've about the in
So we've exploration got think $XX shared million going got a budget, projects I exploration. of a great some We've on.
"Great, our if money. we've what you And years over ounce somewhere per go, minorities that's money at And $XX exploration the spent. ounce. got of some in we lot That's great? think I well, around BXGold, -- an of a Because per discovered go, cost well isn't existing it look I through calculated terms of at ounces
and of which greenfield. existing So about is sites that exciting the budget rest, really exploration a monster, around brownfields XX% so is
we I team So today some can to if and just again detail -- to there. geology together Finland, you our exciting the behalf you announced won't that go you're the want hear geology with into and results we partner on put much about But it.
us, seeing for major days we're interesting good Resources, here Next some discovery to but it's realization. if discovery a major new early for them by
well. exciting, that's outside also and exciting other we're as growth has a box a speaking targets and So and in of of locations Uzbekistan, there the very number
find the So always the we'll exploration cheap numerous of or generating and which around targets to find you continue world. gold, are ones all with ounces of ounces try high-quality the
Finally, think M&A on potentially right way our now ambivalent is disappointing. M&A, describe attitude I towards the and best to
Now opportunities, if I'm for X look look you growth doing And company exploration the in -- X success. in potential you there's lot we Gramalote the of be with dramatic any further at could don't the you at this look When and those unrealized those growth assessment of what potential at the go. need. barring marketplace X, a to Anaconda
realize shareholders, so our numbers the So job haven't just been able still for is question realized and a to and we we with our value because haven’t we're to Gramalote also new far come is up -- obviously. mark,
for are shareholders. but to comes we've for sometimes, years, do deals so that to But last though, that's and hampered over when going need our the it last situation, business a the the of of the you'll it what so reaction much the on on accretive nature downside, to X.X meantime, our been which the now, in is to M&A, upside has starting done recover partly we the XX because stock only perhaps. get Menankoto our get sense So years makes
haven't We growth. the growth had of sake for
think that I is reasons deals successful. great accretive that's make into us successful we've highly the been different disciplined turn diligence mines of then and due X we that
So to approach. that suddenly we're going not change
looking do because our it's I to sense be for So But going shareholders there. for at out go to with to on we're think and shown make they're for going it's to sense time. M&A, we something, because the makes we've our going will some a if ultimately board discipline opportunities continuing it long we
people for industry, also very I think in and somehow sometimes but as able there's being in standards always but difference been being aggressive, always have between opportunities reckless, the never it, company, a maintain. there's So we're we're extremely highest huge we're that We're to some going our because a aggressive negative. seizing say successful and of what a reckless.
the for to where career, time decent context but shareholders, cash of the not of trading for our find we're opportunities, So of the got middle just perhaps, shares only But in is sense extraordinary our the my we opportunity in. we connection to have position in price the first at at. we M&A use make share because ourselves
they along. long seeing producer a of and not because and there's mergers as problems they of them actually the mining of X there a and a The there's have M&A development best shows beat build in said, We XXXX But in the we're And over us companies not directors truth work this they work public if it's the lot not Meanwhile I've open go X is situations the I it disposal makes deal -- time, the keep They you companies more potential and wanting their But et speak. thing the approach want We're need years had a has lot are at to to as institutions as sure. in we're So about keep want we open for. what shareholder so drum jobs we're biggest biggest a merger. of or gold who that the a who because and couple the to That's you something you, about with their on They shareholders it, to they -- existing everyone they're struggles, because perhaps it, their numerous some is it beaten these entrenched do all. acted but opportunity cetera, -- acting it's in reason fiduciary all things and where truth forward. they're management. situations companies not We value. an look We've maybe today. we comes not and got for not says said show. think -- a despite management. right. a we entrenched if to They're for other better are for of at don't duty to synergies what, of purchase know interested it's sense, that disappointment some interested, we potential know for will X telling jobs.
So company, and us. in greatest the we of want don't it's the to sell the mines to Russia. sign a but X the CA, world We don't gold not building why we're
an should offer, that to we for the So hurt told when shareholders to right book we that pocket we we'll gold may does put ask opportunity X. and we the day, shareholders. said then or shareholders. us forward or to not their back so ego. side in then the And decided immediately never public said do another let obvious, to And our then best for and it was was to It our the any think another faced they're the their the what board, their company Directors does you Board them of this X responsible mining company a that's take with to
world. the big at day, because are we'll find disappointments happens, just talk potentially and the And side. offensive in in of I And the it So many projects the shareholders, we on is there entrenched X are the goods but ship of to behalf the M&A want what second see other management. on end
the for both make for is out do taking not and themselves is not the out not about of putting commission a that lot to their So M&A of open there situations. day, management’s, shareholders a are us, shareholders ahead of shareholders. are shareholders there's decision Yet the decision's acquisitions accretive potential end these that the not because not might but directors, and there, sense of at management -- there of few is or in opportunities we're decision some hearing many, sets the deals for the
how have I but and us there, out at the shareholders say institutional many of Don't may should years be the with to directors week, fight next join company. us. allowed a director So me a be few over the words to
that the it the us forcing telling rather thing you business. are in not of do right them truth, Help by shareholders that to companies We the shows Let well. force for do run the us the company.
Let's grow business. this
having people to shareholders business act of the in self-interest. the We by this have in interest grow not
something extraordinary around we'll So to we're go use going that's they're saying great stupid. now, got growth it open build to to don't so that. run financial that company far. to and We've do buy we We'll for strength, business, No, got profile, very around we're disciplined. a continue the
what wanted that's I So of to the most say.
I think let's with that, open for up questions.