Thank you, Mr. Chairman.
Thank you, everyone, for your presentations. We appreciate that very much.
I'd like to start with Mr. Raynolds. You are an investment banker. You advise clients on whether to invest in mining projects, such as the oil sands. We're somewhat confused here. We have heard that the rate of return on these investments is 7% to 10%, and no more than 13% or 14%, and yet Mr. McKay brought up something about it being over 200%. Can you enlighten Canadians as to the rate of return on these oil sands investments, please?