...Good morning, everyone. It is my pleasure to welcome you to Royal Gold's 2025 Annual Stockholders' Meeting. It is shortly after 9 AM Mountain Time on May 22, 2025, and the meeting is officially called to order. I am Bill Hayes, Chair of the Board of Directors, and I will serve as Chair of this meeting. We are excited to be hosting this virtual stockholders' meeting. As is our custom, we will first conduct the formal business portion of our meeting. We will then provide a brief commentary on the results for the year ended December 31, 2024, followed by a question-and-answer session. Validated stockholders may submit written questions at any time during the meeting in the designated field on your screen. Out of consideration for others, please limit yourself to one question at a time. On the right side of your screen under the meeting materials, you will see the 2025 Annual Stockholder Meeting agenda and rules of conduct. The rules of conduct set forth the procedures that we will follow during...
