Good afternoon, ladies and gentlemen, my name is Peter Taylor and I have the honour to be the chairman of your company. I have been on the board since 1997 and have been Chairman since October 2003. I declare this meeting open. This is the 47th annual general meeting of Bougainville Copper limited and I welcome shareholders, and visitors. I understand that each member has received a copy of the notice of meeting and, with your consent I propose to take the notice as read.