Triple Flag Precious Metals Corp. Common Shares (TFPM) Q3 2025 Earnings Call

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any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. To withdraw your question, simply press star one again. I would now like to turn the conference over to Sheldon Vanderquay. CEO, please go ahead. Thanks, John. Good morning, everyone, and thank you for joining us to discuss Triple Flag's third quarter results. Today I am joined by our CFO, Ibn Bari, and our Chief Operating Officer, James Dendel. 2025 has been an exceptional year so far, and Triple Flag has achieved another record quarter in Q3. We recorded 27,000 GEOs in the quarter, which drove record adjusted EBITDA of $79 million and record operating cash flow per share of $0.39 US. Shareholders are directly benefiting from the higher gold prices through higher cash flow per share. We should continue to benefit in Q4 and beyond as well as current gold prices are well in excess of the average gold price realized in Q3. We expect to achieve 2025 GEOs between the midpoint and the high end of our 2025 guidance range. I am very pleased with the additions we have made to the portfolio year to date. Year-to-date, Triple Flag has now deployed over $350 million of capital over five investments. In H1, we announced our investments in the Trey Krabatis lithium mine in Argentina, the Arcata silver mine in Peru, and an additional interest in the Johnson Camp copper mine in Arizona, all of which have now started production either in line or ahead of our investment case. Early in the third quarter, we completed our acquisition of a 1% NSR royalty on the Arthur Project in Nevada, operated by Anglegold Ashanti. And most recently, we have acquired a royalty package...