Good morning everybody. Thank you very much for taking the time to come and listen to this presentation. I know it’s a busy reporting time, so really appreciate the fact that you do take time off. I am going to be covering in addition to what you will see on the presentation, seven particular issues or seven; I think important aspects of our results. Firstly the aspects pertaining to the fourth quarter recovery, I think it’s important that we put that into perspective, we'll also talk a little bit about the findings of the investigations into why the commissioning of the flotation and fine grind was unsuccessful and we had to call a timeout that’s one of the reasons why Jaco Schoeman is sitting here in front with me to deal with some of those questions. Talk a little bit about the current status of where we are after having started with test work again in the middle of August, elaborate on some of the future steps that we plan to take going forward and some of the contingencies associated with those future steps. I also do want to talk a little bit about, because you will see some of that in the letter to shareholders, I want to talk a little bit about the restructuring both of management and the business. I want to give you an update on the BEE deal, the roll up of Khumo Gold and the Trust into DRD. You will also see that there is a restatement or a restatement rather in the results, so I just want to cover some of those aspects. Acting CFO, Anthon Meyer is here, so he will be able to also assist on some of the questions there that I might not be able to explain adequately. Yes,…

Adrian Hammond from Standard Bank. I have three questions for you. Firstly, I want to talk about yields a bit more. In light of the fact that you're sourcing new high grade dumps, and let's assume for a moment that you achieve the efficiencies you want out of the new circuit, what are your expectations for yields for the next year and beyond?

I think our target remains in the region of about 0.195 yield per ton, maybe a little bit higher. But new resources come in and older resources are being phased out, I think that’s pretty much where we want to benchmark our recoveries.

Secondly, just on the rehab provision that's being adjusted downwards. Is there any future cash flow impact regarding financing of that provision while that's being reduced?

Are you talking about the rehab?

Rehab provision, yes.

The reduction in the rehab provision is based on two very specific new interventions in the way in which we approach the rehabilitation. So it’s an actual saving that we recognized and recognized to the satisfaction of all of those as scrutinize it for integrity. One involves the irrigation of the dumps if I am not mistaken. And I forgot what the second one was. The irrigation of the dumps is the most significant one but there is a second one too. But these are two very specific initiatives aimed at managing the exposure to future rehabilitation costs.

In terms of your financing, finance costs for that provision, is there any impact?

We haven’t provided the full environmental impact just yet, on one let’s call it a collection of assets the crown assets that are now being incorporated into the Ergo Mining right, there is an outstanding guarantee, that’s going to be put in place. We’ve managed to secure a cover for that but we haven’t put it up. We haven’t paid anything in the past, so it will be a first time that we're going to that. So there is nothing to adjust, it will be…

And then thirdly, just could you give us an update on the announced sale of ERPM and what your intentions for that proceeds would be?

There hasn’t been any change from the announcement that we released, so the dates and the timelines of delivering into the various conditions have not changed. I think proof of funding is due for October, proof of funding is required and that’s really going to be the trigger. I think once proof of funding is in place the rest should go smoothly. We will treat with in event that this transaction takes place, we’ll treat the cash the way that we’ve been treating our cash in the past. We’ll look at the capital requirements of the business, what’s necessary for that, the amount of cover that we think we need to keep in place on top of cash flows which would hopefully be positive cash flows would be considered. The buffers that want to maintain and if we have surplus to buffer and immediate capital requirements then the money goes to shareholders in one way or another. I think I actually got this question by email so my apology firstly to (Mr. Donald) [ph] to not replying earlier. Question is will you consider applying any of the proceeds of the sale of ERPM to buy shares back. I will tell you what the approach was in the past when it came to buybacks. As we will take a look at what the consensus view of the stock is, people like Alan would express their views to what the share is. And I think in one of the previous occasion that was specifically used as a benchmark and if the share price is significantly below what the consensus view is of where the share ought to be then it makes perfect sense to buy shares back. It's not to say that we will use the proceeds for that, I think I explained now in response to Adrian’s question, how we are going to be treating surplus cash flows if it does materialize but it’s certainly something that the Board will consider. And I don’t take those decisions, we go to the Board meetings and we make representations to the Board and we always look at what is the most effective way of distributing or making a distribution either by way of dividend or buyback. And share price at the time is very important consideration for purposes of deciding on a buyback. I don’t think I made any promises here, I don’t want to be told that I promised to buy shares, so there is a process and there is a specific test or a set of parameters that we use for that purpose. Adrian?

[Indiscernible] expectations on capital for the next year, do you have any new projects in sight? Because effectively now your balance sheet is looking very good. You don't have any imminent projects, your ultra-fine-grind's come to an end.