Operator: Good morning, ladies and gentlemen. Thank you for standing by. Welcome to IAMGOLD Corporation 2012 Third Quarter Financial Results Conference Call. At this time, all participants are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. Instructions will be provided at that time for you to queue up for questions.
I would like to remind everyone that this conference call is being recorded on Wednesday, November 14, at 8.30 am Eastern Standard Time.
I would now like to turn the call over to Mr. Bob Tait, Vice President Investor Relations. Please go ahead, Sir.
Bob Tait - VP, IR: Thank you, Meryl. Welcome to IAMGOLD's third quarter conference call. On Tuesday, November 13, we announced our financial results for the third quarter of 2012, which along with accompanied financial statements, notes, and MD&A can be found on our website at iamgold.com.
Joining me on the conference call today are Steve Letwin, President and Chief Executive Officer of IAMGOLD; Carol Banducci, Executive Vice President and CF; Gord Stothart, Executive Vice President and Chief Operating Officer; Craig MacDougall, Senior Vice President, Exploration and Jeff Snow, Senior Vice President and Legal Counsel.
Our remarks today will include forward-looking statements. I'll refer you to the cautionary language regarding that forward-looking information in our disclosure documents and advise you that the same language applies to our remarks during this call.
We have prepared slides, which can be viewed via our website in this call, and as Meryl said, it's being recorded for playback purposes.
I'll now turn the call over to our President and CEO, Steve Letwin.
Stephen J. J. Letwin - President and CEO: Good morning. One thing our results us this morning is that moving to a higher percentage of our gold portfolio to the owner operator model was a right thing to do. As all of you have seen the mines we own and operate account for about 85% of our production now, they're performing well, and have reached three quarters of the 2012 production target, year-to-date cash costs were in line with our expectations at $627 an ounce, and we're 46% lower than our joint venture operations.
Performance at the mines where we are not the owner operator for example Sadiola and Yatela have been disappointing. As a result, consolidated production for the year is likely to be at the lower end of our guidance. Cash costs are expected to be within plus or minus 3% of the high-end. So, I'm not happy about that. It's not a lot – right now we can do about it. We don't operate these mines as you know and we continue to have discussions with our partner to see if we can improve the performance.
As most of you know when a joint venture operation you operate with the information you're given and do the best you can to manage it from there. Going forward, even at the mines we do the best we can to manage it from there.
Going forward, even at the mines we do own and operate we will be moving in the harder ore and there will be challenges but they will be within our control, and we have to manage the transition expeditiously and cost effectively and I feel very confidently we have the team in place with the leadership of Gord Stothart to do so.