Bathurst Resources Limited (BRL) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:02.815 Hi, I'm Richard Dager, CEO of Bathurst Resources. 00:00:02.815 -- 00:00:08.984 Welcome to the quarter one FY26 result 00:00:08.984 -- 00:00:10.827 webcast. 00:00:10.827 -- 00:00:14.069 We'll move on through this. 00:00:14.773 -- 00:00:19.220 So Bathurst is an operating company. All its operations are based in New Zealand, but 00:00:19.220 -- 00:00:23.626 we've also got two projects in British Columbia in Canada. 00:00:23.626 -- 00:00:28.769 So we've got four operating lines, Takatimu, Stockton, Rotowara, Marlborough, 00:00:28.769 -- 00:00:32.357 Uh, getting two in the North Island. We'll show you a map in a minute. 00:00:32.357 -- 00:00:36.646 Uh, one on the West coast and one on the deep South, the bullet project, which is right 00:00:36.646 -- 00:00:40.674 next door to Stockton. We'll talk about more as we go through, 00:00:40.674 -- 00:00:45.725 uh, to NASA's in Northern BC and, uh, crown mountain is a joint 00:00:45.725 -- 00:00:50.511 venture with Jamison, which is in the Eastern BC. 00:00:51.938 -- 00:00:53.500 Look, 00:00:53.500 -- 00:00:57.464 I suppose the key thing on this page really is that we've got a very low enterprise value. 00:00:57.464 -- 00:01:02.830 We've got cash in the bank and we've got significant earnings 00:01:02.830 -- 00:01:06.672 generation going on and particularly in the future. 00:01:07.014 -- 00:01:09.597 So really just moving on to strategy, 00:01:09.597 -- 00:01:12.720 we've got existing operations that are making money. 00:01:12.720 -- 00:01:17.785 The key there is to maintain those operations in a safe and efficient way, 00:01:17.785 -- 00:01:21.757 not doing any damage to the environment and also making money. 00:01:21.757 -- 00:01:24.941 And out of those then build on the 00:01:24.941 -- 00:01...