Warmly welcome everybody to Viscaria's quarterly report for the second quarter 2026 up here in Kiruna. As usual, we're welcoming you to our core shed where actually everything starts, as and Ross will tell you more about that later on.

Viscaria continues to deliver according to plan, and activities are now higher than ever across all work streams. We are continuing to build our organization.

We are adding additional contractors, and we now some approximately 200 people that are logging in to the site every day, seven days a week. More people for every month will then come in.

We connected ourselves to the main railway on June 17, which was an important event. We will inaugurate the entire rail yard, the Levijärvi rail yard, on October 14 this year.

That means that we can also after that date starting to get equipment via train and not only just trucks after that. We are continuing with the commissioning of the water treatment plant in a successful way, and Charlotte will give you much more detailed information about that.

After the period as well, we contracted Sandvik for underground production equipment, which is an important statement that we're now just about ready to start our production. Ross will talk a lot about the continued successful drill results, which proves that this deposit continues to increase in both tonnage and grades in a very fast pace.

We had a very well-attended Capital Markets Day and AGM up here in Kiruna on May the 7th with some 250 guests and shareholders, which was very well received. Then of course, we concluded a very successful oversubscribed direct share issue of some 1.7 billion Swedish krona, where we also took the opportunity to convert all outstanding shareholders loan of a bit less than 700 million Swedish krona.

The total size of the issue was then 2.4 billion Swedish krona. We're extremely happy with the continued support from basically all our institutional shareholders and also the largest private shareholders, where many of them took the opportunity to increase their shareholding.

At the same time, we also very pleased to welcome our new, second largest shareholder, the French infrastructure fund, InfraVia, supported by the French state, an experienced fund investing in mining and metals that has been scrutinize us well for a long time and now have entered our cap table, and we're very pleased with that. Lastly, we are in the final stage of concluding then our debt financing of approximately 5 billion Swedish krona.

We're pushing that a bit from September, as we have previously announced, a bit into October. There's no red flags that is behind this push.

It's just that it's a complex project financing, but a completely standard format. The mandated lead arrangers, SocGen and ING, are now in the final stage of deciding of the bank consortium, the syndication consortium that will participate.

That means that another four to six banks are then included in all these arrangements. We also then are then negotiating with two governmental bodies to receive credit guarantees for part of the amount, and that is the Finnish state via Finnvera and the German state Euler Hermes via Euler Hermes.

The reason for the credit guarantees is, of course, that we are buying so much equipment from Finland that the Finnish state is supporting, and we are exporting the copper concentrate, part of the copper concentrate, to Germany, which the German state is supporting. Again, Charlotte, Ross, and Frida will talk in detail about all activities that are happening both during the quarter and activities that will come.

I will take the opportunity to share with you a few slides just about why we care so much about details and tidiness of our site. As you have heard before, we care about the design of our buildings, the color scheme of our buildings, and has nothing to do that we want to do a fancy site.

This is about caring and quality. We care about details.

When you care about details, the organization notice that. This is to prevent accidents and support quality.

It shows that you are not just pushing the project into production at any cost. You do it at a site that is nice to come to every day.

Our main office, which many of you have seen when you have attended here at Capital Markets Days before, we are now doing this nice little park, which will be a very welcoming face every morning when you come to work. That comes with that you come to work with a bit smile at your face.

We have also constructed the Viscaria Village. This is the overnight facilities, the accommodations for the building constructors during the two-year period that we now are left to build our site.

This is not for future production, mine workers. This is only for the construction workers during the construction period.

We have 800 sorry, we have 132 overnight rooms here, and since we work in 7/7 shift, that means that we give opportunity for overnight facilities for 264 people that will then release the burden of the Kiruna municipality to have them for hotel rooms or that they buy up apartments or houses for the contractors. We have them now here on site as well.

After two years, the red buildings here will either be converted to contractor offices or will be moved away. The field here in between with a football field, barbecue places, outdoor sauna, outdoor gym, that will be forever for our workers for recreation: mornings, lunch breaks, afternoons, or evenings.

The brown house there down at the end of the picture, that will also be there forever, because that is the change facilities and also lunchrooms and so on for the daily production workers that comes into site to work in the mine on a daily basis. We are also then next year do a nice visitor center just outside the main gate where we can receive guests, have security reviews, information.

You can see films about the site and production and so on. This will also give a very nice welcoming feeling when you come to our site.

We're super proud of all this work as well that we do. Over then to details about what's happening in the site, and I start with welcoming Charlotte to the stage.

Thank you.

Thank you so much, Jörgen. I will now give you an update on where we are with the project and the execution of the project.

Overall, the project is proceeding really well. On our most critical construction project, the processing plant, we're a little bit ahead of schedule, which will give us a big advantage now when we're moving into the winter months.

Other than that, we have a strong focus on time planning in the project, quality of the designs that we receive every day, and also on safety, of course, which is a top priority for us all across sites. We're also doing the final detail designs within the project, and adding to that the last big contracts for capex investments that will secure us to do a safe and successful restart of the Viscaria mine.

Looking at the processing plant, as I said, the project is going as planned, and we're currently ahead of schedule. The engineering and construction activities has intensified a lot during the quarter, and it's more and more contractors coming in, helping to construct this building.

Metso is also undertaking the detailed design of the process equipment that will be inside the processing plant based on the basic engineering that they completed in December last year. We're also doing continued process optimization work, including further metallurgical studies, just to be ready, fully ready, when we're actually starting up this processing plant in '28.

As we go, we're also scaling up the operational organization. The picture you see here, that's taken from yesterday.

It's moving fast in the project. Adding to that, this is a time-lapse movie showing the progress in this construction over the last three weeks.

The building is erected quite fast because everyone knows what to do. It's tidy and with a strong focus on safety.

We're not only constructing the building, we're also doing the concrete foundations for the heavy equipment, such as the mills, and also the foundations for the building. Looking into the mine, we've done 300 meters of underground rehabilitation as of now, and it's going well according to expected, actually a little bit faster than expected.

We're doing roughly 25 meters per day. This picture is taking also yesterday from inside of the mine entrance.

We have started the open-pit operations, now we're blasting material that we use for our tailings construction. We also have some ore that we have started to stockpile on the ROM pad.

As Jörgen mentioned, we have selected Sandvik for the underground mining fleet. We're happy with that.

They're also going to help with maintenance service of the equipment and of course automation. We're also doing optimizations of the mine plan, and one improvement that we done lately is that we're going to start the development to the upper part of the D-Zone before taking the lower part just so we can start in a month by doing that.

Also, another positive from doing that is that we decouple the mine plan and progress from the dewatering rate. By saying that, the water treatment is going as planned, but this is an optimization that we wanted to do, and it has a lot of benefits.

Looking on the infrastructure and logistics side, the Levijärvi rail yard, our rail yard station, to say, it was connected to Malmbanan in 17th of June, which was an important milestone for us. It's not easy to get those slots, and we signed up to have this slot 20th of April 2023.

That just shows how well we planned for doing this and how we actually executed everything in order to be able to do it this exact date. The railway yard is well in construction, and the concentrate storage building, adding to that, inauguration will be held mid-October.

The Narvik infrastructure for the boat shipment is also well in progress: port site and site infrastructure. Looking at the tailings facility, it's in full construction as well.

You see the picture here. We're also building the clarification pond and the outlet from the clarification pond that will take water into the processing plant.

A positive here is that we are blasting our material from the open pits, and we're not only using that for the support benches, we also do our fine filters, the darker filters in the picture, and the coarse filters. It's a really good capex profile of our tailings facility.

Going to the WTP 1000, we're well in commissioning now. The picture you see here is the water that we discharge to the recipient.

We now treating the water of metals, uranium, and sulfate, and everything's going as expected. We meet the permit limits.

We're discharging to recipient according to plan. Now the focus is the ramp-up of this discharge amounts to reach 1,000.

We are soon there. We are operator training ongoing.

Super important to learn how to run this facility in a good and efficient way. We have our drinking facility completely completed and approved by the authorities so we can support the site with drinking water as well.

Here's a picture zooming out a bit, the pipeline that's going from the WTP 1000 and the outlet to the recipient. That's zoomed in on the picture to the left.

Here's also a picture from the inside: tidy and clean, and the sulfate treatment step in the middle that was the last thing we added that was completed in mid-June. Viscaria Village as Jörgen mentioned, it's nearing commissioning.

Our first guest will arrive the 24th of August, which we are very happy about, which will give our contractors a nice place to stay and rest when they're not working. The official inauguration will be in September.

It's 132 rooms and 264 residents that we can take. Very close to taking that into operations.

Lastly, from my end, the project schedule: no changes. The sulfate treatment was in place in time the exact date, and then we could start the dewatering of the mine.

That will continue as we go. Underground rehabilitation, we're just continuing doing that as we dewater.

Open-pit operations ongoing as planned. Underground mining, we will actually start in a month when we start with this drive and development to the upper part of the D-Zone.

Power installation will be completed in '27. Rail yard, October this year.

The tailings area and clarification pond will be completed later this year. Looking at the processing plant, it will be weatherproof, and all the foundations will be completed in November this year.

Then we moving over to installation of process equipment, which will be done during '27. Then we do commissioning as we go, ramp-up, and then have our first saleable contract the first half year of 2028.

With that, I will hand over to Ross for the latest from exploration.

Thank you very much, Charlotte, and good morning to everybody watching. It's very exciting to be back with another exploration update from the team here at Viscaria.

Stepping back, we're really starting to see the different parts of this geological story come together, and that's a theme that I want to carry through today's presentation. Our standout result from this quarter comes from the D-Zone, where drill hole 25013E, which was drilled 800 meters outside of the existing resource boundary, intersected 10 meters at 2.2% copper, which is more than twice the current average grade of the deposit.

Elsewhere in the B-Zone, drilling is continuing to find high-grade extensions to the mineralization, and also define an exceptionally thick package of mineralized rock. Finally, our reflection seismic survey is now underway on site, which is allowing us to test the system at an entirely different scale than ever before.

First, let's focus on that standout result from the D-Zone. This image we see here, I think it's one that we're all starting to become a bit familiar with.

What we see is the D-Zone resource color-contoured according to grade by thickness. Where we have the hotter colors, that's where we have the thicker and higher-grade parts of the deposit.

Over the past year, we've been progressively stepping out in our drilling further from the resource. During the last quarter, we presented the results from hole 24036, which was our first major step-out hole, 400 meters from the resource, and this returned an intersection of 14.3 meters at 1% copper.

The results from this is what encouraged us to go even further. Last quarter, we also presented 25013E, which intersected copper-iron mineralization 800 meters from the resource.

At that time, we didn't have the assay results, but now we do: 10.2 meters at 2.2% copper and 32% iron. This is just a fantastic result.

What comes with this result is two important messages. Firstly, the scale.

With this drill hole, we've opened up a significant corridor between the intersection and the current resource, and that's a corridor that has great potential for further resource growth through continued drilling. In fact, we're already starting to test this space with two active drill rigs in the field, and so we're hoping to have results to share very shortly from there.

On top of the scale, another important message here is, of course, the grades. As we're moving further away from the resource, from the known mineralization, it's very important that we're seeing that the mineralization is not weakening, we're not finding lower grades.

In fact, quite the opposite: more than double the grade of the current resource. On top of these two important messages, we also see a very interesting mineralogical observation as well.

In this area, we're seeing an increased proportion of bornite coupled with hematite alteration. Now, it's quite early doors, but in similar copper systems, this type of observation, bornite with hematite, it can indicate that you're vectoring towards a higher-grade part of the system.

Of course, this is a very interesting thing that we're going to follow along and try to find in the next drill holes as well. Let's have a look at the drill core to try and connect this headline intersection to the geology.

What we see here is photos of the drill core overlain by the individual assay results. What I really like about this result is the consistency of the grade.

As you can see, there's not just one narrow but super high-grade vein that's carrying the intersection. Rather, what we see is several consecutive samples, 2% copper and several actually around the 3% mark as well.

This is genuinely high-grade mineralization in an area that we believe has great potential for resource growth and, at later stage, future mining expansion as well. Importantly, this exploration campaign is continuing to deliver great results not only from one zone.

We can also take a look at the B-Zone as well. Again, a familiar image.

This is the B-Zone resource, again, color-contoured by grade thickness. We can see in the southwest portion of the deposit on the left-hand side of this image, there's a gap in the resource.

That was previously untested until basically the last year, where we've started to fill that gap. The first result we had was drill hole 25013B, which returned a whopping 76 meters at around 1% copper.

Then in the last quarter, we presented hole 13D, which again this confirmed a really thick package of mineralized rock with several stacked high-grade intervals above 1% copper as well. That brings us to today, where we have two new drilling results to share with you.

We just looked at drill hole 25013E in the D-Zone, but this same hole had great success drilling in the B-Zone as well, returning an intersection of 20.6 meters at 1.13% copper and providing an extremely important link between that shallow part of the resource and the deeper drilling that we've completed. Then finally, we have drill hole 13F as well, which has also confirmed this really broad mineralized package: a total intersection of 270 meters at 1/2% of copper with several higher-grade sections within that, including 14.3 meters at above 1% copper.

Importantly, the key message from the B-Zone drilling here, it's not about any one individual result. It's the repetition, the continuity.

Here we're seeing geological and grade continuity beyond the resource. From the project's perspective, this is really important.

It's real near-mine exploration. These are results adjacent to existing resources and adjacent to the planned mining infrastructure as well.

Now, this is quite a technical slide, but I think it's really important to show how the different pieces of the puzzle are starting to come together. On this image, we're seeing a plan view, a map of the Viscaria deposit looking down, and in the backdrop to that is magnetotelluric geophysical data.

What we see in the data is this red trend, this strong conductivity, and this comes from the graphitic rocks in the A-Zone and the C-Zone. If we follow this strong conductivity signal towards the southwest part of the deposit, you can see that there's this major break cutting across the formations.

The geology that we observe in that break tells us exactly why this is the case. In this area, the original black carbon-rich rocks have been completely bleached and altered by the hydrothermal fluids, losing that formational conductivity.

In the same area, we see an abundance of these cross-cutting feeder-style veins as well. We think it's no coincidence that along that same trend, that's exactly where we've made a lot of our recent discoveries: first the A-Zone, then B-Zone deep, the first high grades in the C-Zone, and now today, this 800-meter strike extension in the D-Zone: 10 meters at 2.2%.

All of this is to say that the geological and geophysical evidence is all pointing towards a major feeder corridor in this part of the deposit. Today, of course, we've been focused a bit on the near-mine drilling results, but with the reflection seismic survey underway on site, we can now start to look beyond, far beyond the drill bit.

As we learn more about the Viscaria deposit, we start to ask ourselves bigger questions about the architecture and the depth extent of the deposit. With seismics, we can start to answer a lot of those questions.

This is part of a project, a collaboration with Uppsala University and BitSim NOW. You can see on this map, it's quite an ambitious scope to the work that's planned.

Not only do we plan to cover the entire mine site with seismic profiles, but we also plan to do some profiles in the city as well. That's in order to chase the down-dip reflections southeastward from the deposit.

The work is now underway, let's take a quick look to see how this actually works in practice. We have here the seismic source, this vibroseis truck, and it systematically works along each of these profiles, lowering this base plate and generating seismic waves which reflect back from different geological features in the subsurface and are recorded by thousands of receivers that we have over the area.

Of course, the really interesting part is when we get the results back, and we can start to see how this fits in with the overall picture. Finally, to try and tie this together and look ahead to the future: what we see on this chart is the growth of Viscaria's mineral resources through time, from 3 million tonnes when the mine closed in the late '90s up to 108 million tonnes, which were defined in 2025.

As you see today, all of the near-mine drilling results are pointing towards continued resource growth. What's really important is that as we move closer to production, we need to acknowledge that exploration is about much more than just adding tonnage.

Our near-mine exploration campaign is really targeting areas that have the great potential to add scale, flexibility in scheduling, and optionality to the future mining operation. In other words, we're drilling in areas that can make a big difference.

We have four active drill rigs working in the area, and our planned resource update is for Q1 2027. Until then, we will continue to keep compiling all the data and to confirm geological continuity in all these exploration spaces.

The key message today, though, is that we're not just accumulating single drill results. This is all becoming part of a comprehensive understanding of the Viscaria mineral system and where the greatest value might sit.

Drill hole after drill hole, quarter after quarter, we're really starting to put together this geological story. Thank you very much for listening, and on that note, I will hand over to Frida.

Thank you for that, Ross. Then I will go through the financial performance in summary for quarter two 2026.

If we start with the income statement, we have a big portion of capitalized expenses related to exploration assets. It's 127 million.

We have an operating profit of -24 million, and we have the net profit of -41 million. It's a little bit higher negative result than previous year, mainly due to the interest expenses referring to the shareholder loans.

We have a positive cash flow for the period, 346 million, and that's included the first out of two tranches from the directed share issue. If we then look at the balance sheet, we have an increasing in the post of exploration and evaluation assets.

It's almost 2.1 billion. Of course, we have a large increasing in the ongoing development.

It's almost 1.6 billion, mainly due to the ramp-up of the construction activities ongoing. We have cash and cash equivalent of 1.3 billion, and our equity is now 3.8 billion at the end of quarter two '26.

We have definitely further strengthened our financial position during this oversubscribed new share issue, which adding 1.7 billion in cash to our company. We also got in InfraVia as our new second-largest shareholder.

The tranche two of the share issue was completed after quarter end and added in that all of our shareholder loan of 681 million was fully converted into shares, which means that we actually are now debt-free except for a really small portion from Norrlandsfonden. This means that the total equity raise was 2.4 billion.

When we now have executed the equity raise, we are working towards the debt financing of approximately 5 billion Swedish krona. We are well underway there and aiming for financial close in October this year.

This is fully aligned with our plans and according to the financial requirements. Including in the financing requirements, we of course have different kinds of margins in our calculation.

In all of our capex, we have a contingency post of a range between 10% to 15%, and on top of that, we have this cost overrun facility, which is approximately 800 million Swedish krona, which is also included. If we then turn into the market upside, we see here some sensitivity analysis of our earnings.

In the first row, you can see our business case is based on an average copper price during the whole life of mine of $11,700. That will give us an EBIT of 1.6 billion during our steady-state years, which is 2029 until 2036.

If you then will use the spot price of today, approximately $14,250 per ton, you see that we have a significant increase of EBIT over 40%. It will raise up to 10 2.2 billion instead.

If you use the bullish forecast of $20,000 per ton, you can see that the EBIT goes up more than 100%, actually up to 3.6 billion during these years if all the other parameters stay the same. The key message here is really to see that all of these different kind of copper price scenarios is fully reasonable due to the market conditions, the availability of the supply, and also the long lead time for the possibility to increase capacity on the mining side.

This slide also show our business case, but from the cash flow perspective. You see the first year, 2026 to 2028, we are in this capex and investment phase.

Already 2029, we turn cash flow positive. If you follow the line in the diagram, you see that we become cash flow positive in the accumulated already 2032.

We have an overall payback in approximately four years. If we then try to summarize really shortly from the financing perspective: we have strengthened the equity base materially, we have removed all of our shareholder loans, we maintain a really strong cash position during this last directed issue, and we are now heading towards financing close on the debt side in October this year.

By that, I leave the word back to Jörgen again.

Thank you, Charlotte, Ross, and Frida, for your presentations. Viscaria is uniquely positioned for a successful mine opening and first delivery of copper in 2028.

We are blessed with a fantastic deposit and site, and as you can hear, with significant growth quarter by quarter. I think it's important when I say this to underline that our exploration drilling is not the kind of an exploration company's exploration drilling.

Our exploration drilling is carefully planned together with our mine planning team, we know that these resources that we aim to increase can easily be converted to reserves and successful economical mining. We are not an exploration company that are pitching for a sell side.

This is a mine company where we focus on economical mining and increase of the economical mining parts of the deposit. We have an extremely supportive cap table as well, which supports the success of this project.

Then not at least, we have a great management team and board. This fantastic picture is our entire board and most part of our management team Tuesday this week when we held the board meeting for the second quarter.

It's a great atmosphere, I can guarantee you that, and you can see that in the picture. With this picture still on the screen, I would like to welcome Charlotte Frängen to support me in the Q&A session today.

Thank you, Charlotte.

Thank you, Jörgen. Fantastic to hear about all the progress on site.

You have many parallel processes. Which one would you say is the most crucial right now?

It's definitely the construction of the processing plant. As that it's our single largest capital expenditure, almost 3 billion Swedish krona, a lot of people, contractors, firms involved in this, logistics to get all the material in the right day and the right time to get everything to click.

As I said before, we have a fantastic, well-structured organization. We're super pleased with our different contractors: NYAB and Metso that is heavily involved, but also other subcontractors into construction of that.

That is the largest challenge just now.

You also seem to be a bit ahead of plan on that, but if I'm reading you rightly, you're also a bit behind schedule on dewatering, are you? Does that affect your plans?

No, it does not affect the time plan. Commissioning has taken longer time that we thought in the beginning.

That the main reason with that, that we found sulfates deeper down in the old mine water, and we had to add an additional water treatment cleaning process

step,

yeah. As you heard from Charlotte, technique is working.

We're holding all the levels for the permits, and it's going very well now. Charlotte also pointed out that we have optimized the mine planning, we will now start to mine in the shallow part of the D-Zone earlier than before, which will support the ore coming up earlier from that part instead.

The dewatering was or still is mainly to go down in the A-Zone. Now when we go directly into the D-Zone, then the dewatering is kind of decoupled from the time plan and the mine planning.

Also there is a lot going on outside of this area. You have been talking to Narvik Havn.

How is that going?

It's going very well. That for some years back, we signed memorandum of understanding with Narvik Harbour.

We're now in full construction with subcontractors also for the offloading facility and the ship loader at the quay in Narvik Harbour. That is also according to plan and will be ready then in the beginning of 2028, well in time of our first delivery down to Narvik in April 2028 with the copper concentrate.

Going over to the finances and the debt financing: you have a bit of news here because you have raised from 4.8 to about 5 billion, and you're also pushing it into October. Can you tell us about that?

Yeah. The 5 The 5 billion amount is that we are borrowing the amount in US dollar, and that has been the case since beginning.

Of course, we have a bit fluctuation in the USD/SEK rate. The loan amount will be approximately $475 million.

Then on top of that, you also which we're talked about before, you are adding a what it's called cost overrun facility, a COF facility. That is a cushion for the lending banks to say that, okay, we will add the loan amount with a certain amount in order to really be safeguarding that to capture potential extra cost.

The cost overrun facility is not the only contingency amount. We have contingency amounts reserved for the remaining capex, with contingency amounts reserved in the sustaining capex.

Then also we have this COF. The COF, the debt-financed COF facility will be approximately plus/minus $45 million.

That is an amount that will be decided very, very close to signing. We are at approximately $475 million plus $45 million in COF and then in US dollar.

Hence, we are saying then approximately 5 billion Swedish.

When you get that money, the 5 billion, you have in total just above 10 billion. Is the project fully financed then?

Yes. According also to what I said in the first quarter, now we are so close to realization.

We have closed such a huge part of our supply contracts, we really feel that comfortable that we have our arms around this project both in terms of timing and funding.

In this process, I know that they are scrutinizing you every corner. What has been the biggest good feedback for you?

What have you changed because of this scrutinization?

If I first back one step. Everybody knows that I'm not a miner, I'm a banker.

I have really chosen to have a bank project financing instead of a bond financing. It's extreme much more tricky to get the bank project financing, but a much more stable financing for the future.

You are definitely scrutinized into your underwear by the banks, and that really helps you. Because they have found things that we could have been able then to optimize.

Scrutinization is always good to take in second opinions and third opinions are always good, and that really makes the project so much more stable. It's a painful process, a cumbersome process.

It takes time. As you all know, we started this debt financing process in October last year.

It's very good for the project and for the stability of the project. We are happy with that process, and it has gone fine.

Are you worried you'll have to push it beyond October?

No, we don't believe so. Now we are really pinpointing credit committee days for the different banks and also for the credit guarantee institutes.

Everybody in this consortium are dedicated to deliver on this time plan, and it's in everybody's interest that we keep the time plan as well.

Sounds good. Last quarter, you talked very much about the copper price.

Now it has risen even more during this last quarter. If we would see a setback in the copper price, how worried are you about your project?

I'm not worried at all, because you can see in Frida's slide here that even at way more lower price than today, $11,700, we have a very good profitability, and in the debt financing case, we are calculating with a copper price of $8,600. Even at those levels, we will support our debt two times, i.e., interest and amortizations.

This is a very stable project. One reason for that is, of course, that we are so extremely well equity-funded up front with now 5.4 billion Swedish krona.

We are not worried for the copper price. It is important to say, as you also saw in our Q1 report and at the Capital Markets presentations, we have continued constraint in supply of copper in the world and a continued demand.

It is a very prosperous commodity to work with, and we are bullish about the copper price going forward.

Let's end with some words on the thrilling exploration. How certain are you that your mineralized system is bigger than the current boundaries?

As I said in my final statement there, first of all, it's extremely important to underline that exploration programs in Viscaria are extremely carefully planned together with our mine planning team. We're not out there to show the overall potential for the whole Grande Viscaria.

We are focusing on near-mine exploration. That means that when we add new resources, it should be resources that easily can be converted to reserves and in connection with that as well, show that the production planning for economical mining will be realistic in the near term.

On top of that, as we have told before, we have done geophysics, scout holes out there, we know that this is an extremely prosperous deposit where we only have drilled at the top of the iceberg, if you can say so. The exploitation concessions are still only just 2% of the entire exploration concession area.

This will continue to be one of Europe's most thrilling, growing copper deposits.

We're now looking forward in six months, you're going to do a mineral resource update.

You're

talking about the mid-term. You have a mid-term target of 140 to 160.

Are you aiming for any specific figure in six months?

We're aiming to take significant steps towards our mid-term goal already on February the 12th next year.

Very good luck with that, Jörgen. Thank you.

Any concluding remarks?

No questions from the chat?

No, we've included that.

Okay. Thank you.

No, thank you, everybody, for listening in today. I look forward to see you again at the Q3.

Of course, we have a lot of events happening now in the autumn with the inauguration of Viscaria Village, the inauguration of the rail yard, and the continued construction, and which you will see on social media as well. Thanks again, everybody, for listening in.

See you soon again.