Thank you, Mr. Davies.
That brings round two of our questions to a close.
We don't have time for a full third round. We have 20 minutes left. I am going to try cutting the five-minute slots back to four minutes and the two and a half-minute slots back to two minutes. That will get us in right under the wire. I'll be very brutal about the timing.
We will go ahead now with Mr. d'Entremont, please.
You have four minutes, sir.