Good morning, everybody, and thank you very much for joining us for this presentation. We're going to be looking at the 6 months ending the 31 of December 2020. With me is Riaan Davel, our Chief Financial Officer; and Jaco Schoeman, who's our Chief Operating Officer. There will be an opportunity to ask questions. We'll be taking questions at the end of the webinar, at the end of the presentation, and I'll just pass the questions on to either Jaco or to Riaan, depending on what's asked. What we reflect on the disclaimer, just in broad terms, what we'll be covering. Obviously, we are still in the midst of COVID-19, still dealing with it as a nation and also as an enterprise. So we'll be spending a bit of time talking about how we've been dealing with the challenges of COVID, both direct and indirect challenges. We'll be reflecting towards the end on what we thought was working really well for the business and what we could build on, but then also some of the emerging risks, which we're building into our investment planning, into our thinking in terms of strategy, et cetera. I'll also be talking a little bit about our relationship with Sibanye-Stillwater and how that's informing our strategy and some of the conversations that we're having. Riaan, as usual, he gets to talk to the nice part of the presentation, to the financial results. It's really been a period of stellar financial results. It was ably supported by the effort from our operations in terms of throughput and recoveries. So all of that comes through. But we are very pleased with the results that we're in a position to present today. So I'll start with the key features for the group. As you can see, we've seen…

Thank you very much, Niël. And yes, as Niël alluded to it, very, very pleasant indeed and a real privilege for me to take you through the financial results. Really proud of these results, and well done to the operational teams as Niël has alluded to, to maintain tonnes 24 hours a day, 7 days a week, 365 days a year, sounds much easier than what it actually is. So well done to the team. I will focus, obviously, on the results for the 6 months ended 31 December 2020, in comparison to the 6 months 31 December 2019. The other side of the context that Niël has provided, very stable operations. So gold sold slightly up period-on-period, but very much that increased to just over ZAR 2.2 billion in revenue of 43%, driven by the overall average rand gold price received, but very much though taking advantage of the higher gold price and under sometimes very challenging circumstances, maintaining really good gold production. On the cash operating cost side, period-on-period, up 10%. Obviously, Ergo had an impact of that up by 3%. And then we dealt with some challenging material, which required some more reagents. And then obviously, overall, just inflationary increases as well, adding to that overall 10% increase. And then operating profit up a massive 165% to ZAR 933.8 million. So the old lady as such, Ergo, showing really, really good solid results that we agree about. On the Far West Gold side, as Niël alluded to it, gold production slightly down period-on-period of gold sold as a result down by 34 kilograms, but still with the increase in gold price, revenue increased by 36% to just under ZAR 700 million. On the cash operating cost side for Far West Gold, period-on-period, up by 14% to just…

Thank you, Riaan. So I think the ESG theme as a prominent investment theme is undoubtedly gaining an importance both here and internationally. Our business has been all about sustainable development now for many, many years, more than a decade, creating value at various levels of different values, creating integrated value and pursuing compelling social environmental dividends. That's very much been part of our story, over and above the fact that for 14 years we've also managed to pay a financial dividend. And this year, with the gold price having performed the way that it has and still is performing, we were in a position to channel fairly substantial resources towards this particular part of our business. You can see that just under ZAR 52 million was spent on rehabilitation again. The standard for rehabilitation has changed significantly because we are mining in the city. And it wasn't like that initially. It's become that. And in order not to be a nuisance, in order to live our mantra of improving the quality of life of those living in and around our operations, these are the steps that we've got to take. We do believe that these are the steps that all mines ought to take in order to ensure that their footprint is restored. 52 hectares of deposition -- tailings deposition were vegetated. That was mentioned earlier on as one of our highlights. And this is high-quality stuff. This is a moat that's placed on the side of the tailings. In the Crown Tailings, for instance, a cladding in -- on the part of Brakpan out in -- towards the east towards Ergo for natural vegetation to then settle. It's initially irrigated by way of potable water. So we do use quite a bit of potable water to establish vegetation.…

And we have a question on the -- I can maybe just read out from Ed Stoddard from Business Maverick. It says, you guys did a good job of rehabilitating the dams and tailings extension [Indiscernible] and you make money from cleaning up the environmental off the map of the industry. Have you ever thought of broaden your expertise elsewhere? You set up operations in Australia, Ghana, Chile. And have you considered doing so?

Yes. Look, we look at operations from time to time. We don't have anything on -- anything worth mentioning at this stage on the radar just yet, but we're certainly not closing our minds to anything. We do believe that the shortcut to some of the operations outside of South Africa would be through our group association with Sibanye-Stillwater, but we're certainly not excluding that as a possibility. Something that we are working on, though, in addition to tailings treatment, is trying to see if we can establish ourselves as sort of a tailings solution, an inclusive tailings solution, in other words, the whole tailings management cycle. I may have mentioned earlier the fact that oftentimes, mines leave rehabilitation right up until the end. And more often than not, companies would sell a mine with 5 or 10 years of life left. But then in terms of rehabilitation, they've really only just contained the impact of their operations on the environment. We haven't seen any sort of concurrent rehabilitation. And I think that model is probably going to come under scrutiny, and it will be expected of corporations to demonstrate how they are keeping up the rehabilitation with the -- with also the life of mine, that it sort of finishes at the same time. And we think that when it comes to tailings management, that we could play a role in that, perhaps even as more of a service provider. So we are definitely looking at means of doing that.

Arnold Van Graan raised his hand. And we've asked him to type his question. So we'll just give him them a chance to do that.

Maybe to elaborate on the previous question. It really also depends on is the resource large enough because you need a very, very large resource in order to justify the CapEx and set up infrastructure, is there enough electricity, is there are enough water, is the regulatory environment conducive to it. You don't want to go to a place where it's going to take you 15 years to get a license to build a tailings dam. So all of these things play a role, are you able to link it all up? So I think the more likely scenario is probably one where we start aligning ourselves with other operations coming in as a quasi-service provider or partner in terms of rehab closure and then doing it off the back of existing operations that are coming towards the end of life. So, there we go. So could you give us a bit more guidance on your growth profile over the next 6 to 12 months? And secondly, related to that, you mentioned some additional mining -- milling costs, it that ones-off? Let me deal with the milling first. No, it's not a ones-off. Milling is now part of the circuit at Far West Gold, so that will go. And obviously, the higher winter tariffs is something that is cyclical, it only happens for that period of time. And these mills run off electricity. I did read or see that maybe that's going to be phased out. So hopefully, the higher winter tariffs thing is going to be something in the past at some point or another. It's been a bee in my bonnet for many, many years. Changes in the milling circuit, though, is that it will -- it's not finished yet, but it's going to -- it will be finished once it is a close milling circuit. So we'll have even better efficiencies then. And then in terms of the growth profile, yes, I don't know, it's pretty much what you're seeing at the moment. We don't anticipate much over the next 6 months, and then we will revisit our guidance at the end of the financial year. And if there's anything significant in that regard, then we will provide an update in terms of upgrade. Yes, I think that's it. All right. Are there any more questions?

No, that looks like it. I feel -- we have any -- nothing further.

Okay. All right. Well, then let me just conclude by saying thank you to all of our shareholders for your support over the last year. Hopefully, we will be worthy of that support and give you the sort of performance that you deserve to justify your support and to reward you for -- or trusting us with that part of your savings that find its way into our company's share capital. So thank you very much for dialing in and for listening to this presentation.