[Technical Difficulty] There is nothing different to the format this time. We’ll be using very similar information or a very similar format to that, which we used in the past. There are a number of themes that will emerge, though, that we’ll pay some additional attention to. And those themes are going to be volume throughput, it’s quite a lot that we want to say about that, our cost make-up for the 6 months, what’s happening to electricity now and going forward, the social dynamic that is starting to also have its impact or that had an impact and how that’s being managed, and then also 1 or 2 things maybe about the political and regulatory reality within which we function. But let’s jump into the presentation itself and go to the key features for the 6 months. So the gold price has been very, very good. And that, I think, has brought some welcome color into these results. It’s enabled us to, for the 17th consecutive year, pay an interim dividend. This dividend matches the one of last year’s half year dividend, ZAR0.20. That’s on the back of strong revenues of just under ZAR3 billion, 12% increase; operating profit, increase of 15% to ZAR909 million. I would have loved to be in a position to say around about a ZAR1 billion. So I think that is a number we – internally, we’re thinking what may have been, what could have been. Production was down by roughly 7%, and I’ll elaborate on that as I go through the segmental analysis. Headline earnings on the back of both revenues and the increase in operating profit have gone up by 10%. And I think because of positive headline earnings, it’s just all the more compelling to again declare that dividend that informs…

Thank you very much, Niel. Good morning everyone. As always, my privilege to take you through the financial numbers, just to provide some, again, context from my side. It’s really an exciting period for DRD as we’re building our gold growth story. And always when I talk about DRD, I get excited because we’re very sure of what we want to achieve in the long run with our purpose being reversing the environmental legacy of mining. And every time I look at the results and every period that passes, I can see a little bit more of that. And for me that is the theme. And you’ll see it through in the property plant equipment numbers, you’ll see it in the cash flow and I’ll emphasize that in the presentation. And then while we do that, while we’re setting up for the future, we’re also operating. And Niel provided that context. And just a big thank you from my side to an exceptional operational team that runs the business 24 hours a day, 365 days a year. That’s amazing to see, when there’s challenges, how the team reacts. And that’s become part of the DRD story, which I’m very proud of and also ably assisted to on the financial reporting side by an exceptional team. So thank you very much for that. As Niel has mentioned, we always present these results taking the first 6 months of our financial year in comparison to the first 6 months of last year. Because as everyone knows, we do have seasonal changes – well, seasonal rain and no rain, the winter, but also, for example, around the winter tariff that we pay in the winter months for electricity. So we always use that as a base. But it’s good to look through all…

Thanks, Riaan. Yes, not as impressive is a nice way of putting it, but then I think that was pretty much the same for all of the gold producers. The markets were not kind to the gold stocks in the last 6 months of 2023. And interestingly, that notwithstanding the fact that the gold price held up quite nicely, and it was suggested to me during conversation that there is a new dynamic – a different dynamic that impacts this, firstly, the gold price, and secondly, the share price. In the past, when the West lost interest in gold because of higher interest rates and they started selling gold, there was no safety in it, nobody bought it, and it was in free fall. Now, whenever the West does that, there are a whole lot of institutions, there are several governments outside of that trading block, so to speak, or that alliance, so to speak, that are keen to reduce their foreign currency holdings in dollar, their dollar position and their foreign currency holdings, and they have been accumulating gold at a steady state. So gold price is determined, by and large, by or influenced to a very large degree by appetite for gold outside of the West, outside of London and New York. Whereas the price of commodity or the price of stocks, the gold shares, is very much determined by market sentiment in the West. And perhaps that’s the reason for the very significant disparity between what gold companies are producing in terms of profits and revenue and margin and so forth, and their share price. Compare that to some of the technology stocks, because that’s where appetite now lies in the West, especially with the seven large companies, Amazon, Tesla, Google, Meta, Nvidia and so forth, they…

No. All good. And I see there are currently no questions that have been posted.

Okay. Well, then that must be the quality of the presentation, Riaan. Well done to you and the team. Thank you. Any final comments from either you or from Jaco?

Sorry, Niel, there is one, if you have a look there, that has just come through.

Let’s see. Oh, yes. So, I did say in the letter that we will elaborate on that by the end of financial ‘24. All I want to say at this stage is just that we are looking and if there is something to report, then it will be around about the end of financial ‘24, end of July. If there is anything before that, then obviously we will. But we do want to see if we could take this methodology, this intellectual capital that’s been established over time, if we can apply it a little bit wider than what we currently have. That seems to be it. No, there is another one. There is another one. Please share more details about lodging an appeal proceedings by community forum. Okay, so basically, look, what that involved was when a license was issued in 2022 to start – that would enable us to start mining a particular site, there were a number of mostly commercial demands by what we believe was inspired, maybe not by the community, but by an influencer over that community. So, an appeal was lodged which would suspend the license until after the appeal has been heard. The Minister of Water Affairs has the authority to lift the suspension if you could submit compelling reasons. And we have submitted that request, and the Minister did indeed then lift the suspension. So, maybe I could just comment on that. So, water usage license is not – you don’t just show up and say, I want a license, and they hand it over the table. It’s not like taking out a dog license. But once they have issued it, they have gone through such an extensive process of checking and double checking it that they have confidence in the integrity…

I think it’s a good answer. Thanks.

Salma Khan [ph] is asking if a transcript of the session is provided. Not a transcript, but I think it is recorded, so you will be able to listen to it. And then the presentation is on our website. So, Brendan wants to – Brendan is asking, what do you mean by operational and corporate complexities delaying your plants to diversify at Sibanye? So, Brendan, what it basically means is that Chrome and ownership of Chrome in that area is extremely complex. I think there are three different companies that own different percentages of the same ore body. So, you mine an ore body, it’s got PGEs in it, and it’s got Chrome in it, and then different companies own different parts of the upside. And exactly how they divide that up, I don’t quite know. So, it’s very difficult if you are building a project that spans over several kilometers and there are dumps from different sites that originate from different Sibanye subsidiaries, where there are different associations and relationships, both in terms of minorities and also with regards to other companies. It’s very, very difficult to say, well, this is how this piece is going to be divided up. That’s the first instance. And then the second instance, which is closely related, if you are dealing with three or four different sets of minorities and other interest group, what does your corporate structure looks like, what does your corporate structure look like, so it’s not an imagined complexity. It’s really something that we are trying hard to sort of decipher and land on a solution. But you have got several people around the table, and not everybody is willing to wait and to have the benefit of a long-term relationship. Sometimes, premium upfront also sort of pops up…

That’s right, Niel. And as we commission in now various parts of the solar, it’s very difficult to factor the saving into account. But I do recognize Juan’s comment and we have discussed it and you elaborated on that is that at some point, when everything is set and up and running, we need to provide that detail to the market. That is really important. We are investing significant capital. We believe it’s a very good project, but we haven’t distilled all that detail, which is important and we will at the right time do that. So, we definitely take Juan’s comment seriously. And as you have said, we will set that up and we will provide that detail in due course.

Juan, I just wanted to echo that. I mean it’s not that we haven’t done the work, that we are not sensitive to legitimate expectations of our investors. We just want to make sure that when we do give you the numbers, that they are the numbers. And as I have said earlier, I am not quite sure the extent to which, for example, how effective the avoidance of peak spend to be, what the real impact of that is going to be, the extent to which we will be able to start wheeling back into the grid because there is a third-party involved here as well, the extent to which that is facilitated. What we do know though is the solar plant is working. When we started that plant that is running at designed capacity, maybe even a little bit better, Jaco, when that first line or that first line came onboard, we were hoping for 6 megawatt and I think it was sort of registering just under 7 megawatt. And we now are now pulling 14 megawatt off that system, which is way beyond what it’s capable of delivering. But that is how much we can feed into the project as we speak. So, we know it’s working. We have confidence in the team that’s constructed it, the technology that they are using to monitor its operation. It’s good technology. It goes into very intricate detail to give them proper analysis. So, we are very keen to give you these numbers. But we do want to make sure that we give you the actual numbers. And it will be interesting to do that also in terms of the cash flow statement. Obviously, you have got your balance sheet where the Sun Capital where that plays a role. But…

Yes. I will just say that – sorry, Niel, the one number we mentioned in our integrated report that gives a very high level estimate is ZAR9 a ton saving over the current life of mine, approximately. I mean we need to build out on that. And as you indicated, we will.

And hopefully, when we do this presentation, we will be explaining that why it’s ZAR10 a ton and not ZAR6 a ton.

But that is always the challenge.

Yes. But yes, we will have an extensive webinar on that or a detailed webinar on that. So, thank you for indulging us. Alright, we seem to have reached the end of the questions. Thank you very much for your patience. Thank you for dialing in. Thank you for your support. Hopefully, next time we come together, we are in a position to give you an account of how we had delivered on the expectations that we create for the forthcoming period. So, thank you very much.

Thank you, Niel. Thanks so much.