Salazar Resources was highlighted as the featured investment in the MJG partnership’s mid 2019 investor letter. We first initiated our position in SRL in April 2019 and today have a cost basis of roughly C$0.17 per share. The past six months have again been light on substantial news flow, which is largely a function of a nationwide backlog on water permits for exploration drilling and a three-month Covid-19 lockdown. Even in light of these challenges, the Salazar share price has continued to re-rate higher due to the significant number of catalysts expected by year end.