All right, everyone. Welcome to AngloGold Ashanti's presentation for the results of the second quarter 3 months to the 30th of June. First of all, I would like to welcome several members of our executive team that are here to assist with any questions and members of the board present, including our Chairman, Mr. Tito Mboweni. First of all, our emergency procedures in the event -- unlikely event of any emergency, please move to the nearest exit points behind you and to my right and congregate at the carpark behind the building where we'll take over from there. As is customary, just to run through our agenda for today, Mark is going to give an overview of the result. Venkat will walk through the details of the financials. Mark will talk to technology exploration and projects, and then conclude to some wrap-up comments. And as is customary, just a quick run through our Safe Harbor statement. Certain statements made in this communication other than statements of historical fact, including without limitation those concerning the economic outlook for the gold mining industry, expectations regarding gold prices, production cash costs and other operating results, growth prospects and outlook of AngloGold Ashanti's operations individually or in their aggregate, including the achievements of project milestones, the completion and commencement of commercial operations of certain of AngloGold Ashanti's exploration and production project and the completion of acquisitions and dispositions, AngloGold Ashanti's liquidity and capital resources and capital expenditure and the outcome and consequence of any potential pending litigation or regulatory proceedings or environmental issues are forward-looking statements regarding AngloGold Ashanti's operations, economic performance and financial condition. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause AngloGold Ashanti's actual results, performance or achievements to differ materially from the anticipated results,…

Thank you for the riveting introduction, Stewart. Ladies and gentlemen, I'm very happy to be here again this morning, and more importantly, very happy to see that you're here with us this morning. First, I'd like to acknowledge our Chairman, Mr. Tito Mboweni, who has joined us today. I'd also like to point out a couple of new colleagues we have with us today, Mr. David Noko, our Head of Social and Sustainable Development. David's been with us around 6 weeks. Mr. Mike MacFarlane, Head of Strategy, has been doing the work in South Africa on technology development with the team. He's now taken over our strategy role. And in fact, sitting next to Mr. Mboweni is Mr. Charles Carter, who has taken on the role as Executive Vice President, Colombia, which indicates how important we see Colombia, it's a new role, and indicates the resourcing and the leadership that we see the country demanding now that we have 3 major discoveries, one moving into a pre -- from prefeas to feasibility, one in -- moving from scoping to feasibility and with a new major discovery, becoming more important to the whole portfolio. So very exciting times, very good to share time with our colleagues and a few new faces in the audience as well. Ladies and gentlemen, I think from a results point of view, and if I could say in a much broader context in terms of the gold industry, I think the results that we'll be talking about today and I think even more importantly on a broader basis how we stand in the industry, I think there are 4 points I'd like to make before I start the presentation. Firstly, in the last almost 5 years, say 4.5 years, we focused on a number of things…

Thank you, Mark. Good morning, ladies and gentlemen. I'd like to cover the following 4 areas in today's presentation: second quarter 2012 financial results, cash flow and balance sheet, the refinancing that was completed in July of 2012 and third quarter 2012 outlook. Starting with the second quarter results, better-than-expected gold production of 1.073 million ounces and lower unit cash cost of $801 an ounce helped AngloGold Ashanti post adjusted headline earnings of $253 million or USD 0.65 per share. However, this level of adjusted headline earnings was lower when compared to both the previous quarter and the second quarter of 2011. When one compares to the $429 million adjusted headline earnings recorded in the first quarter of 2012, the second quarter's earnings were lower due to the following principal reasons: the first quarter 2012 earnings included a once-off deferred tax credit of $90 million, which didn't reoccur in the second quarter; the second quarter also saw an $85 an ounce drop in the gold price quarter-on-quarter, which impacted earnings; lower by-product credits during the second quarter due to lower silver production and prices; and stockpiling of uranium to meet a legacy contractual delivery of 860,000 pounds, which matures at a premium of 22% to current spot price during the fourth quarter; higher levels of exploration and other expenditures quarter-on-quarter, tracking annual guidance; and finally, lower level of gold sales relative to production due to the timing of gold shipments. The above factors were partially mitigated by higher production and the benefit of weaker currencies. The swing in the effective tax charge quarter-on-quarter was due to nonrecurring tax credit referred to above, which accounted for the bulk of the swing, which was included in the first quarter only, withholding taxes and translation effects on deferred tax balances due to the…

Thanks, Venkat. Can I take over the controller? Thanks, Renée. Thanks, Mike. First thing I'd like to say, ladies and gentlemen, is as we have done over the last 3 or 4 years, we've worked very hard in making sure we've got the right people in the right roles, and a lot of that change management processes have been about developing -- putting people in place, developing succession planning. And we're going through another phase of change as we set ourselves up for the new organization, the new operations and the new businesses. Most importantly, and I don't say this in terms of individuals but in terms of work and how we see things from a strategic point of view, the importance of social and sustainable development not only in South Africa but right across the globe I think is central to mining companies putting their best foot forward, working with local communities and making sure they've got developments going forward in a way where their communities that create partnerships for long-term success both ways. And so David Noko, a great career with De Beers and quite a varied career in terms of engineering and involvement in sustainable type of activities, has joined us. Very excited in terms of the future and what we have and what we can offer in terms of working with our communities in terms of special partnerships, and in particular some of the great experience he brings from De Beers in terms of that space will certainly help us, I think, take another giant leap forward in terms of what we're doing in South Africa and across the globe. And David has global responsibility for that work supporting the Executive Vice President to the key areas. Charles Carter's appointment to the EVP role, Colombia is…

Alan, and then, is that 2 questions or 1? Are you trying to sneak in 2 or 3? Okay, Stu. Steve A. Shepherd - JP Morgan Chase & Co, Research Division: I have to work with this guy everyday. Steve Shepherd, JPMorgan. Mark, do you see any assets in the huge portfolio that you've got that are not core and perhaps occupy more management time than they justify? I mean, do you have any mines that you can't do much with and what can you do about that?

I think I kind of suspect you're speaking with a perspective in mind when you say huge portfolios. But look, we operate within 4 regions. We are also of the view maybe not like others who sort of say 100, 100, 100 or 200, 200, 200 or then 300, 300, 300, which to me is a bit simplistic. I think it's important to understand what geological potential you have in regions, and being able to hang in there, create value, the big deposits quite often come from the small deposits that you didn't quite recognize. It's all about understanding the geology. With that caveat, there are probably 2 or 3 assets in the portfolio that we're keeping a very close eye on. People know that in the past, we've been open to discussions, for example, in Mali. The good news is there we didn't sell when we had an opportunity because the price was too low, and the good news is in terms of free cash flow, we've -- I think it's more than quadrupled the cash flow that we're offering. So we make the right call, but we keep that -- those sorts of things on the radar. Question is, is Navachab big enough for us. Well, it's 100,000 ounce producer. We've now got a strategy where we believe we can take it to 200,000 ounces. And pending the political discussions and what we think we can do with the region, that may remain as part of the conversation around potential. And literally, every asset gets the rule over it on an annual basis. So yes, there's a couple of things we're looking at. Yes, we'll protect our balance sheet. Yes, we'll protect our high returning assets and look to leverage our capital in those assets. So it's an ongoing conversation, one that we're watching fairly carefully. And as you would expect, even a conversation around the commitment, it gets extra attention. Steve A. Shepherd - JP Morgan Chase & Co, Research Division: Just could you update us on your view of the business environment in South Africa and the way that's going?

I'm cautiously optimistic. I didn't read the outcomes from the ANC conferences. Some -- I thought our Chairman wrote a very good piece on why we should be optimistic about the ANC and, in particular, the future for South Africa. And I think he got it right. What we have to do as the management team that is turn that into actions that works. So for us, the key message out of the conference, key issues on use, unemployment, challenges, they're all things that we have to take on board. But having said that, nationalization was kicked for touch. Yes, there'll always be some conversations around that. It is now a conversation around what's the right structure for our industry. And I think in the next 6 months, that conversation will be had in a constructive and an open way. And one thing I'll guarantee, you won't end up with it in Australia where the government doesn't listen to its industry. The good news here in South Africa, we've got a government that does take our point of view into account, as they've done with the royalties, as they did with the mining charter, as I'm absolutely certain they will in the conversations over the next 6 months. So for me, I'm cautious, but I am optimistic that we'll work out a pathway for the industry to go forward that is constructive and encourages investment, encourages creation of new jobs because quite frankly, anything else would be a disaster for the country and I don't think we'll go there. And certainly, in my 5 years here, we've not taken those decisions so I'm certainly optimistic. On a broader basis, the world stuff, Europe, the U.S., I think the climate is right for a reasonable gold price second half. I expect to see it right above 700, 800 based on continuing demand in Russia, in China. And Russia has been buying gold, as well, I've got to say. So I think the macro economic environment suits gold, but it's going to be tough for most people. Steve A. Shepherd - JP Morgan Chase & Co, Research Division: Do you have any comments to make at all on the labor relations climate here, AMCU, or indeed, what labors approach to your technology drive is?

Well, don't forget we sat down with the union in our last negotiation and we agreed to think about ways and means of working differently in the future. And that has been a positive and constructive set of conversations. So firstly, constructive, good relationship, we have our moments, very happy with that relationship with NUM, Solidarity and the other unions. It's been very constructive, that's the first point I would make, very important. Secondly, the other unions that have obviously got a fair bit of airplay in the platinum sector. I think the platinum sector's probably a little bit different in that we negotiate and consolidate our view in gold and we work together I think as an industry and in our negotiation with the union. So we've not seen any major moves. We are aware that people are trying to solicit membership, and I won't say who or what but certainly it's at the edges and we don't see it as a major issue. Others may see a bit more of that. It is a concern. We respect the unions that are represented and the members, and so I won't get in the middle of those sorts of conversation. But we respect the relationship, it's been a positive. And I think, on a go-forward basis, we need to work on the right structures and with the government I think we've got the right conversations in place, particularly through the Migdett processes as well for the industry. Allan J. Cooke - JP Morgan Chase & Co, Research Division: It's Allan Cooke, JPMorgan. Just 2 quick ones. On your guidance for the year, which remains unchanged, is that not lower guidance because you have Serra Grande contributing for the second half of the year? What do you expect the contribution there and should we read into that anything untoward? Are you expecting to lose ounces elsewhere that will be made up by Serra Grande? And then just lastly, on your quarterly dividend guidance, with the net debt climbing, is -- are you maintaining your quarterly dividend guidance or you continue to pay ZAR 1 a quarter?

On production guidance, we're very tight. Obviously, you can't lose more than 100,000 ounces in your first quarter from your South African operations and not at the top end of your guidance. But certainly from our point of view, we've seen an encouraging improvement in South Africa. We've seen the other 3 regions actually deliver over their budgets. So we still think we're a show, Allan. It is tighter. We're assuming a contribution from the acquisitions, and it's mainly from Serra Grande, of around 50,000 to 70,000 ounces. So it's there, it helps us. And maybe we'd like to think we can get a little bit above the bottom end, but I don't want to say we can until we see how South Africa goes. So we're tight but certainly, there may be a little bit of opportunity there to do a bit better, but I wouldn't say that given the questions on South Africa at the moment. So that's my main risk I think or our main risk is how the team comes together. And don't forget, we've also said something important, and I said Billy Mawasha here and I feel the South African guys would much prefer to get the working places set up properly, give us the flexibility, there is no need to take shortcuts or we don't want to encourage anybody to take shortcuts, make sure the safety is right and the production will flow as a consequence. And the guys are doing a lot of good work on getting the working phases right. And as I said at Kopanang, with Billy and Francois and the team, they're up 15% on. So that is what the trends -- or the right trends that should impact the second half. But if not, I don't want to take shortcuts. So that's where the risk is. We probably should let others. Yes?

Johann Steyn from Citigroup. Just with regards to the CapEx guidance. And as in early days, but for 2013 obviously, there are a lot of projects now coming through the pipeline. Do you expect that, Mark, to increase compared to where we stand for 2012? Then secondly, also for Obuasi, just to get a bit more clarity about the guidance for the next 2 to 3 years, what do you expect there? And then thirdly, one of your peers recently gave quite a bearish presentation on the gold industry and how they assess what has happened, a lot of value destruction, how do you see that and how do you see that change going forward?

Well, I should have answered Allan's second question. I didn't mean to be rude, Allan, on dividends. Look, given the -- given what we see, given how well the -- most of the operations are going, we see that the guidance on the 100 cents per share per quarter looks to be pretty solid. If we do better, the gold price runs a bit, then we'll look at that with the board. But certainly from a board perspective, in our conversation very comfortable with what's being done. Yes, tough first quarter. But certainly, we'd left ourselves enough headroom and we're in pretty good shape. So we're comfortable that we're in the right place and certainly given the way the operations are generally performing. Johann, firstly on capital. Johann, we're forecasting around 2.2, 2.3. It might nudge itself towards 2.5, but we're going to have to wait and see what spends we actually get up to at the end of this year and how much of a rollover because you've got Kibali, Mongbwalu, Tropicana and Cripple Creek and then potentially Sadiola Deeps. So it certainly would be in that range, but it's not a forecast. It's what we're looking at. And given the inflation numbers across the industry, that wouldn't be surprising. And quite frankly, I'm hoping it's a little bit higher simply because it means the projects should be all on schedule and delivering ounces. So you sort of -- the good news and the bad news. The good news is you get more production. The bad news is it might be a little bit high capital. But -- so we're watching that carefully. So it'll be in that range, I would think, and we will watch it fairly carefully. We're very protective of our balance sheet, as you know.…

[indiscernible] Mark, firstly, could you comment on the extent of the mine interventions over the last 6 months? How has the situation change there? Secondly, if we go to Sunrise Dam, it's had its problems. Have we seen the best that has in the past or what's the production outlook for the next year in Sunrise Dam?

Okay. Firstly, on the DMI in the first quarter, we saw gold loss as a consequence of stoppages around 76,000 ounces. In the second quarter, direct stoppages were down to 15,000 ounces. However, we did have an overlay from Q1, which is the start-up -- the reef start-ups that we saw early in the quarter that cost us another 15,000 ounces. So net-net, 76 has gone to 60 -- sorry, 30, with 15 of that 30 being a consequence of the tough time we had in Q1. So a substantial improvement. I think the relationship's much better. I think we're much more proactive in the key areas. And guys like Billy, Chris, Mike have been leading lots of change, focused on what we're doing. And as a consequence of those changes and a different type of engagement, I think we're doing much better with the DMI. So we're doing much better, but that work has to continue. Second point, is that okay, is that -- okay. In terms of Sunrise Dam, we're at a point now where we're transitioning from an open cut, and we're producing 600,000 ounces in its heyday. In fact, in my last quarter of 2007, which was my first quarter, Sunrise Dam was the highest producer in the organization. And for those that understand, we've seen Yatela, Sunrise Dam has dropped from 600 to less than 300, 250-odd. So we've had to deal with a lot of production dropping out of the portfolio. So that's why we've had to drive to build new production. I think Sunrise Dam can get back to 400,000 with this new underground operation. If you look at the exploration successes we've had, 130 meters, 140 meters, 3, 3.5, some grades are over 10 grams and, in fact, another 1,000 meters below where we are at the Kirishi, we're seeing 50 grams in one hole. So we think there's the potential to develop a sub-level cave or bulk mining operation that could push somewhere between 300,000 and 400,000 ounces. There's a strategic review that's been done of the asset that the team is working on now that will define a scope that will be open to talk about by year end. But we think we've got another 15 to 20 years life and a whole new mine that's going to be developed. I will talk a little bit more about that next Thursday in my presentation, which will be to our Kalboli audience. So I'm saving the best for that conversation in that forum. But certainly, we're very excited in terms of what we think the potential is between Tropicana and Sunrise. We think we have a 700,000 ounce base for Australia. And our exploration team is trying to look for another 300,000 ounce a year operation to take us around the 1 million ounces. So we're very optimistic about what's happening there.

[indiscernible] from Renaissance Capital. Could you just update us please on the South African projects, Moab Khotsong and Mponeng mine extension projects?

Yes, both -- no major issues were developing. We've been implementing a number of new technology, probably now it's the drilling -- the deeper drilling or the longer haul drilling development. Both are tracking okay. We did a project review in the last 3 weeks with the board, so no big surprises there. And with Moab looking at how we manage that geological variability with these longer hauls, we're getting more forward information in developing those sort of strategies. And by the way, some of the new technologies could transfer very nicely to those new areas. But so far, no big surprises. Is Mike here in the room? No, I didn't see Mike. Billy, do you want to say anything about Moab? Billy Mawasha is our SVP, Vaal River. He's doing a lot of the great change work in the region, so I'll give him a chance to say a few words.

As Mike said, I'm Billy, I ran Vaal River. In terms of the work we're doing at Moab, the drilling has happened and we are on track in terms of that really. We are getting information about that early blocking web portal and would be able then to build that into the planning we're doing on the project. The execution in terms of the study of the project is also on track, we are tracking well. And in terms of the early development on the project, we actually have got a contractor mobilizing now and will be taking first blast on the 15th of August on mechanized. So all good then.