We provide a 2017 research report for NCIG Holdings Pty Ltd (NCIGH), available to wholesale clients
![ncig ncig](https://thewire.blob.core.windows.net/web/images/default-source/default-album/ncigedcad3c55342640fb48aff0000bceb90.png?sfvrsn=4188b75a_0)
NCIGH, the holding company of NCIG, is owned by six coal mining companies (shareholders). NCIG holds the long term lease on the NCIG coal export terminal at the Port of Newcastle.
NCIG was formed in 2004 by four coal producers in the NSW coalfields, which won the right to build and operate a new terminal at Newcastle in August 2005. The terminal has been developed in stages and currently has a nameplate capacity of 66 metric tonnes per annum.
Research report teaser
Coal market outlook
We believe thermal coal prices are unlikely to revert to the low levels experienced during late 2015 to the first half of 2016. The increase in benchmark thermal coal prices over the first half of the fourth quarter in 2016 – rising to near five year highs compared to the lows at the end of 2015 and beginning 2016 – provided relief to coal producers.
Newcastle thermal coal spot price history
![](data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAA5AAAAFoCAYAAAAhEhR5AAAgAElEQVR4Ae3dbawd1Z3n+3X8fGxjGzvGpsk10I3aaVoQM1xImGFEmrlRyGQmNFFGSbo1k6RHPU3nTcKrDrrSBUa6TfLmhn7RebjSNEEzIYlupklQ9ySEniQk6ELIjbCFhmDiEQEa4iccH9v4Cexz9avD3157nVW7au+9au1dtb8lbe96XA+fVWd7//daVTUzPz8/75gQQAABBBBAAAEEEEAAAQQQqBBYUrGdzQgggAACCCCAAAIIIIAAAggUAgSQnAgIIIAAAggggAACCCCAAAK1BAggazGxEwIIIIAAAggggAACCCCAAAEk5wACCCCAAAIIIIAAAggggEAtAQLIWkzshAACCCCAAAIIIIAAAgggsMwn+Ju/+Ru3b98+fxXzCCCAAAIIIIAAAggggAACUyiwfv169yd/8idu1apV52rfE0AqeLzzzjvPbWQGAQQQQAABBBBAAAEEEEBgOgW++MUvulOnTvUEkAxhnc5zgVojgAACCCCAAAIIIIAAAgMLEEAOTMYBCCCAAAIIIIAAAggggMB0ChBATme7U2sEEEAAAQQQQAABBBBAYGABAsiByTgAAQQQQAABBBBAAAEEEJhOAQLI6Wx3ao0AAggggAACCCCAAAIIDCxAADkwGQcggAACCCCAAAIIIIAAAtMpQAA5ne1OrRFAAAEEEEAAAQQQQACBgQUIIAcm4wAEEEAAAQQQQAABBBBAYDoFCCCns92pNQIIIIAAAggggAACCCAwsAAB5MBkHIAAAggggAACCCCAAAIITKcAAeR0tju1RgABBBBAAAEEEEAAAQQGFiCAHJiMAxBAAAEEEEAAAQQQQACB6RRYlqraMzMzRVLz8/PRJGPbbV14gNIo26Z9y/II02F5QcAsceOMQAABBBBAAAEEEEAAgVEEkgWQgxaiLKjRetumNMOgx98ebhu0DG3d33xy139c+ba1nSg3AggggAACCCCAAAJdExjLENZRApHcQVMXGlxmuHWhJakDAggggAACCCCAAALjFRhbD2RZtS3QsSAztp/20Xa9bP/YfpaG7W/7xI6xfW0fvdt+tm2QdMr2tbT89P08Ne/vY9vCsvj7+Xn589rHX7Y0LM0wn3C77efn5c/7+1elZdv98lj6fjq2jncEEEAAAQQQQAABBBCYPIGx9EAag4IKe9m6Jt6Vh4IUC1QsmLG8bNn2qdrPjuv3Hsszti5Mo6osVjYdZ+X107Dj/XWxedvP0tC7rYvt3y9fO87S0vG2LkxL620/S7Ns3/BYlhFAAAEEEEAAAQQQQGC8AmPpgVTgEAYN/rIFFqlo/PQsbwtkLF9/n7J86+xjx8b2ja2z/fU+SFn84/z5qjz65VPnWD+vsrSUjupixv4xw+ThH888AggggAACCCCAAAIIjE9gLAGkqhsGEhY8aZs/n4tmHHmW1W2SylJWRtYjgAACCCCAAAIIIIDA9AmMLYAMqS2gHFfwZPmH5RrH8iSVZRz1J08EEEAAAQQQQAABBBCYTIGxXAOpIHGUQNGOJdCazJOKUiGAAAIIIIAAAggggEA3BZIFkBbMWXDnc9k628ff5s/X2c/28Y8bZN6Ot7LYu63304qt87enns9VlrJ8hqlvLC1Lx7aldiI9BBBAAAEEEEAAAQQQGI9A0iGsChgUPFgA4VfJDybq7qfjq9Ly8yibD9Pwy6JjysoT7leWfsr1dcoS7jNMOcM0zKFfXcJjLN9wfZ20+uXDNgQQQAABBBBAAAEEEJhMgaQBpKpoQUVVdav2q9pelb6/vU5a/fbpt83PR/Oxfeuus7Ri+9s2ew/3CZdtP72XbStb7x8bzpcdU7beji/bXrbejuMdAQQQQAABBBBAAAEEJkcg2RDWyakSJUEAAQQQQAABBBBAAAEEEGhCgACyCVXSRAABBBBAAAEEEEAAAQQ6KJB8COskGTE8cpJag7IggAACCCCAAAIIIIBA2wXogWx7C1J+BBBAAAEEEEAAAQQQQCCTAAFkJmiyQQABBBBAAAEEEEAAAQTaLkAA2fYWpPwIIIAAAggggAACCCCAQCYBAshM0GSDAAIIIIAAAggggAACCLRdoLEAcmZmptImto/W2asyAXZAAAEEEEAAAQQQQAABBBDIJjC2u7CWBY/+nVO1j7+cTYWMEEAAAQQQQAABBBBAAAEEFgkk74Gs03sYCwxj6xQ8aj0TAggggAACCCCAAAIIIIDA+AWSB5AK+vr1GsYCxfEzUAIEEEAAAQQQQAABBBBAAIEqgeQBZL8MCR776bANAQQQQAABBBBAAAEEEJhsgWzXQOYIHn/yk5+4l19+uUf84MGDbv369W758uU961lAAAEEEEAAAQQQQAABBLoqsHTpUnfrrbe6VatWJa1itgBSpY5dz5gysLz66qvdpZde2gP0/e9/3/3+7/++u+iii3rWs4AAAggggAACCCCAAAIIdFVAAWTq4FFW2QLI2HWRKYNHVUY9jXr50+rVq4vgcdu2bf5q5hFAAAEEEEAAAQQQQAABBAYUyHoN5IBlY3cEEEAAAQQQQAABBBBAAIEJEpiYADL2yI7UPZQT5E5REEAAAQQQQAABBBBAAIHWCSQfwupf52jzseGrMakwiKx7XCwt1iGAAAIIIIAAAggggAACCKQVSB5ADhL0xfaNrUtbZVJDAAEEEEAAAQQQQAABBBAYRmBihrAOU3iOQQABBBBAAAEEEEAAAQQQyCdAAJnPmpwQQAABBBBAAAEEEEAAgVYLEEC2uvkoPAIIIIAAAggggAACCCCQT4AAMp81OSGAAAIIIIAAAggggAACrRYggGx181F4BBBAAAEEEEAAAQQQQCCfAAFkPmtyQgABBBBAAAEEEEAAAQRaLUAA2ermo/AIIIAAAggggAACCCCAQD4BAsh81uSEAAIIIIAAAggggAACCLRagACy1c1H4RFAAAEEEEAAAQQQQACBfAIEkPmsyQkBBBBAAAEEEEAAAQQQaLUAAWSrm4/CI4AAAggggAACCCCAAAL5BAgg81mTEwIIIIAAAggggAACCCDQagECyFY3H4VHAAEEEEAAAQQQQAABBPIJEEDmsyYnBBBAAAEEEEAAAQQQQKDVAgSQrW4+Co8AAggggAACCCCAAAII5BMggMxnTU4IIIAAAggggAACCCCAQKsFCCBb3XwUHgEEEEAAAQQQQAABBBDIJ7AsX1aTm9OTB067k2fmiwLuPHTaHT69MP/isTPuV8feLNbvPXHWPTf3xrlKfPTy1e7+Gy90q5bOnFvHDAIIIIAAAggggAACCCDQZYGpDCAPnz7r7nhqzn11z+tDt+03XjheBJ0P3bxp6DQ4EAEEEEAAAQQQQAABBBBok8BUDmH9/DPHRgoerYG//dIJd9+zR22RdwQQQAABBBBAAAEEEECg0wJTGUBqmGqq6c6fH3EaAsuEAAIIIIAAAggggAACCHRdYCoDyHdtXpGsXXXt5MceO+Q0LJYJAQQQQAABBBBAAAEEEOiywFReA/nZqy5wc6fnna5j1PSO9QsMW2eXuu3n5pe4d6xfXmzfOnt+/u6dR9w9O4/0nBO60c4nH/+N43rIHhYWEEAAAQQQQAABBBBAoGMCjQWQMzMzbn5+4W6mvpnW2zTMdjt2lHfdOfUL168vXoOmc/eOde6xvafcj/ae6jlU10N+7pkj7rNXretZzwICCCCAAAIIIIAAAggg0BWBrENYLahU4KiXH0wKtGr7pKB//aaNTr2V4aTrIcPAMtyHZQQQQAABBBBAAAEEEECgrQLJA0gFgWFgaDhhj6MfRFrwaPvq3d/urx/3vIJHBZGxSddD7j1xJraJdQgggAACCCCAAAIIIIBAqwWSB5AK+sJAsdVCJYV/z9aV7t5rFw9XVfCoIJIJAQQQQAABBBBAAAEEEOiaQPIAsmtA/eqj6x3/cNvsol00jFU322FCAAEEEEAAAQQQQAABBLok0NhNdOogxYat1jmubJ/nn3/e7du3r2fzwYMH3dNPP+1efPHFnvWpFv7D0iXuyWWXuL1v9lLqTq0b9+9218yeTJUV6SCAAAIIIIAAAggggAACtQWuu+46t2rVqtr719lxbD2QqYNHVTaGs2TJktJrMusAVe2zdslZd9eW/W7FzOI7zv7ve7csCiyr0mM7AggggAACCCCAAAIIIDCqwLJly5xeqaf0KdYoYRPBo7Ldtm1b8fKL8PLLL7sdO3YsWu/vM+r8P3fOnXz2qLvjqbmepI6dXeL+r+O/4354y2anR4cwIYAAAggggAACCCCAAAJtFsjeA9lU8DjuRvjMlRdEr4d88sBpp8d7MCGAAAIIIIAAAggggAACbRfIGkD2Cx5jj+zot/8kwuvRHu9Yv3xR0e579qj79ksnFq1nBQIIIIAAAggggAACCCDQJoHkAaSCPr00+fOGYuv8d9tmQaRta9vjQDRM9aGbN0aHq37y8d+4Xx1706rKOwIIIIAAAggggAACCCDQOoHkAaSCvvBlKuF6W7bterd1em/jpB7IL92wYVHRD58+6277wWvu5Jl21mtRhViBAAIIIIAAAggggAACUyeQPICcOsFIhT9xxRqnVzjtPPSG+9hjh5yCSSYEEEAAAQQQQAABBBBAoG0CBJANtZh6IWPXQ+payMu/tdfdvfMIvZEN2ZMsAggggAACCCCAAAIINCNAANmMa3EdpK6H3LBiMbF6IO/ZeaQIJHWDHSYEEEAAAQQQQAABBBBAoA0Ci6ObNpS6JWVUD+T9N15YWtq9J84Uz45Uj+RX97xeuh8bEEAAAQQQQAABBBBAAIFJECCAbLgV/nDbbBFExnoiLWvdnVV3ab3m4X087sNQeEcAAQQQQAABBBBAAIGJEyCAzNAkuqHOCx/e6u7asS76iA8rgm6yozu1/sH3Drgf7T1lq3lHAAEEEEAAAQQQQAABBCZCgAAyUzOoB/LuHeuKQPIzV17QN5BU8KggUsGkgkomBBBAAAEEEEAAAQQQQGASBAggM7fC1tml7gvXr3e/uG1L9FEffnF0x1YNa9XwVh794cswjwACCCCAAAIIIIAAAuMQIIAch7pz7rK1y4prIxVI6jrJfpNusKMeSYLIfkpsQwABBBBAAAEEEEAAgaYFCCCbFq5IX3dqfejmTe7pD25x79m6snRvDWV9/6MHeXZkqRAbEEAAAQQQQAABBBBAoGkBAsimhWumv2PjcvfDWzYXr3dvXhE96skDp4vrIk+emY9uZyUCCCCAAAIIIIAAAggg0KQAAWSTukOkrV7IJz5wUdErqWGu4fS9V066P3/icLiaZQQQQAABBBBAAAEEEECgcQECyMaJh8tA10VqaGvs+ZG6JvKOp+aGS5ijEEAAAQQQQAABBBBAAIEhBQggh4TLcZiGtX73vW+LPvLjvmePurt3HslRDPJAAAEEEEAAAQQQQAABBAoBAsgJPxF0PaR6IlctnVlU0nt2HnHqjWRCAAEEEEAAAQQQQACB8QroPiXq5NHTE3TJWVefoEAAOd7zrFbut1yyyn3phg3RffWMSD0vkgkBBBBAAAEEEEAAAQTGI6Dg8bYfvFZcZvajvafcl3cfK56gMJ7SNJsrAWSzvslS/8QVa9wXrl8fTe9jjx1yurkOEwIIIIAAAggggAACCOQVUE+jHrcXfh/XExS62NFDAJn3/Bopt89ceYG7a8e6RWnoFw8FkXpWJBMCCCCAAAIIIIAAAgjkEVDwqCGr6nWMTbrkrGuP4COAjLX0BK+7e8c6p97IcLKT91fH3gw3sYwAAggggAACCCCAAAKJBfS9+4a/P9C3E0cdPBrO2qWJALKFrXn/jRc6PeYjnBaCyIOOIDKUYRkBBBBAAAEEEEAAgXQC+r79B9876J6bqx4B+PlnjnWqF5IAMt15lDWlr9+00enmOuGkk1kX8CqYZEIAAQQQQAABBBBAAIG0AupVvObh/dFOm9gz3PeeONOpXkgCyLTnU7bU9FgPBZF6VmQ46aTWhbxdG28d1pNlBBBAAAEEEEAAAQRyCujGOLrmMdZZc9naZe6JD2x2t29fu6hIXeqFJIBc1LztWaFfOH54y2ankzWcdHKrJ5IJAQQQQAABBBBAAAEERhfQXVb7BY8/vOVt7h3rl7u7dlyw6Bnu6oX83DNHRy/EBKTQWAA5M7P4wfeqr9bbK1Z/21Z2fOyYaV63EES+LRpE6iTXQ0yZuiugcfexX8C6W2NqhgACCCCAAAII5Bf46p7Xi86Z2Ag/jQh8+oMXnfs+vnV2aUkv5FGnQLLtU2MBZAxGQeH8/Py5VxgkVm2Ppck6V5ysD928ycXGXOuuT/c9241fO2jrBQHdJvqOp+bc5d/a637voX3uwgdfLV5q59iHGm4IIIAAAggggAACwwsoePzk47+Jfs969+YVxYjA8Hv4X1y1dlEvpL6naShr26fkAaSCwDAwFJIFhz6Ygknbt2q7fxzziwX0y8d33/u2RSeq9lSwET7YdHEKrJlUAX3Y6CG0+uBSsKihEwoW/bvtqhdS7ayA8hsvHJ/UqlAuBBBAAAEEEECgVQJ37zxSfAeLFVo3tNTlZGHwqH3LeiHVudP2XsjkAaT1MMaQWdesgH4B0Y11YpOuh9TNdZjaIaAPFhsqoaBR7aflquGqCio/9tghd83D+0ofaNsOAUqJAAIIIIAAAgiMV+DOnx9x9+w8Ei2EHqmnEYC6sWXZdO+164pA0t/ehV7IxXdf8WvIfOsEdDJ/4fr1RW+UX3idrApCdGco/SLC1JyAent1EyN/2jq7pLio2l8Xm9956LT75gsnFh0f27ffOv1YoJ5K/TJ277Xro3fr7Xc82xBAAAEEEEAAgWkW0H1E1FsYmz5xxRqn57JXTQouNZRVo8T8Sel+/IrVrf1+1qkAcm5uzunlT8ePH3f79+/3V3V+/kNrnfv5JUvcf3mlt6rqnfqX333VffOfzLuVyfuee/OaxqV/POncv9u5xP3PjCNI1y1z7tTZhVfMXMGsXv/mYuf+4nfOus0rYnuxDgEEEEAAAQQQQMAEHt7n3Jd3x78s//v/xbn/Y9tR99JL9e4x8oHVzv3liiXO71tQx85nn9jn/u+rmn9u+7Zt26xayd47FUA+//zz7pe//GUPzuHDh92uXbvc7Oxsz/quL/xvbol7Zsnvu11ne38defrIjPujHx9ydyz7H10nyFq/A/Mr3f/55g6n96anDTNvuGtnDrprlxx071zyG3d4Zrn7W3eZ++9nLy7N+v/5tXPf/rVz/3rpy+79S19xq92bpfuyAQEEEEAAAQQQmGaBL75xtXNuwyKCDy190d2870X3+L5Fm/quuOXsJe4/u9/p2eeRA8597Sc73aUz8V7Onp2HXFi6dKnbtGmTW7NmzZApxA/rVAB53XXXOb386cEHH3Q33nijayL69vOZxPlbT591N/z9AadHPfjT/3d2k3tm+79yGpfNNLqAhotqePCBN5oLyvRMIQ1P/sjls28Nd7i8p+Cfcq64xvXOn5ffMOkNt8T97ZlL3f+74reL4RSfufKCnjRYQAABBBBAAAEEpl1AI/Z+8a29ixi+dMMGd/v2tzvn/tmibVUrPnRm3v3koX09N0DUMU9d/M/cnTdvqjp84rbH+2YnrpgUaBgB3RHqu++NP97jc88cGcvdOtVlbzeH0TV6Gl+uO4xW3RxmmPrnOMauNfTviJoq3/dsXVlcz/rCh7e6X9y2pQj4dbfdssnuxKu7gfXbTzfosceAqC2YEEAAAQQQQAABBBYEYnez140qb9++dmgiXQupe5SEk74Dt/Eml9l6IO2RHXq3yX90R9V2O4b3wQQuW7useLyHgjUFb/6kx0LohjoKVJqedFOZB/YcL4JWP1jUMw3tAmX9cd66bZW75RLrZWu6VKOlb8GjXx9LUe66ODqc5k7PO90op2xS0L9gsGromx2pPZ/+4JbCWncPKwtutV7ngPb5s+1r3O3b1wydZ1l9WI8AAggggAACCLRJ4IE9JxYVVyPARp00kkw/8IcB4ycfP1R8bxs1/ZzHJw8g7bmOqoTNW9BoQaJV0Nb7y3aM1oXbbT/eBxNQYKY7RenxDv5kd2Z9+oMXOQU8qSd7FIX+EMNhtLG8FGTqpYBGgZTuIPq+S1YW75N259h+waOGm6rntwnTmFvZuo9evroY9qoA/Z6dR0t7edVOukW1Xrqr2KevXNu3B7MsP9YjgAACCCCAAAJtFtD3u9h3Vn2nSjHdtWNdcdmTn5byVE+kAsy2TMmHsCroC18+hr/NX2/zVdttP94HE9CJ/9mrFl/zqN6z9z/6WmlwMVguC3ur6//9jx50F3/z10UwGPtDrEpX5VI66iFTOnquoYZd6o6i454U5KpHN9bzqF+W9KiUcQePZqQhE7rWUcNg1f79nlWkYzSkVdY3/P3+sQxxtnLzjgACCCCAAAII5BbQo9TCSR0aqToyrBcyzKPsWZPhfpOynDyAnJSKUY7FArppTuwXFAV46p0Mh7guTqF8jX490fWMeui90kod6Cn9+549WgSmykPXcI5jUr36BY+6/lC9p5M2qUxqf11LqV7GqklBstrx8m/tLaxjwXJVGmxHAAEEEEAAAQTaJBC7N0SK4au+wZdu6H1CgrZZL6S/3yTPT9433UnW6kDZNJRVQ1rDSYFR+JDTcB9b1rVzunZRAd3dO4+433toX9FrpaGSdQIN/YqjXjEFW+oV63fDF8vTf1ceGuaq3smck4x0t9VYoK06TGrw6BupZ1TngHok1QZVwa7aWtbqBZb3ML3Jfv7MI4AAAggggAACkyig77a6rMefNHIr1vni7zPovL6Hx4ar6vtW7DvmoOnn2D/9hW85Sk0eQwvoD+GhmzcVj/cIb66iAHD7+oXgTn9Az829WQQMe0+cdT89cLr4o9IvJMNO+gPUDWL8P0Td8EU9Y8pPAdpje08X7+EfcCxP+5VIAVHTU7/gUXWQaVUw1nQZB0lfgaTuBiZ7OX7+mWOlN9tRuvpA03566YOvaihsWJYdG1cUjyCJ/XgR7ssyAggggAACCCCQW0A3ewwnBXqDfucJ04gt61pIXffoT/qRXt/F2/CYNQJIv+WmZF49gLrJi54RGfYYqheybk9kHS7dUObTV64pfmnpN35c2zS00oZXKlD93isn3COvnCp6O8vyyhFE9gseNS5ewWMTHy5ldU65XuXWban1Uj3/6tljlcOPNbx10Ml6rNW+ClzbFGwPWlf2RwABBBBAAIF2CeiH8jCgUw1id9RPUTONXFNwGuapH/T1nWzSv1cyhDXFWdDCNBTYff2mjY2UXMGBTn49SkLX3Gm+X/AYK4T+sDS8VcNCT/zbS4ogTenEJgWRTQ1nVdplw1bbHjyGlqrPd9/7tnNt1sSHlzw15FnBKhMCCCCAAAIIIDAJAgrkwk4VfXdt8lF36oUMJ43AUy/kpE8EkJPeQg2WTwHDl27YkCwH/ZKioPQ3f/RbRbqDXttYVhAFMkpbZS0brtpEEGlpxsajdy149O3144Ksf/2Ri4shrqnvKKsPR92lV0F/+GHtl4N5BBBAAAEEEEAgh0Ds7qu65KqJH9OtPvqeHBuuql5I3WckvNTMjpuEd4awTkIrjLEM6tXbPXemOFHrFkMBxtbZJe7dm1e6LbMzTte36Y8gx7BEG+Ia63FUwKepLMisWz8FjJ975mjxXMTYMSqDAqwmP1Ri+eZep/ZUL7BeeqSKhrcOM3y1rNxqL/VE6keHJn/hK8uf9QgggAACCCCAgH7Mjo2MSn331Zj0X1y1tuhx9Dsr9EO7XVKm79cqhzpS9P17UiYCyElpiTGWQ9ek6cT1u8zV63TZ2qVFcKggUcGigsZJOHmbDCIV1OguWGU38VHeowaoY2zqobPWr3B6yUU3Vxpksg/CmKnW6bEoClLv2nFB54PyQdzYFwEEEEAAAQSaF9CP5H4Apxz1fTfHjf80TFadOepxjE26J4he+m6qMmkEnK7LTDXKL5ZnnXUEkHWUpmAf9ajpjpy/OnZm7CdlHe7UQaRu8nLHU4eLP9Ky/Kc1ePQ99EE36PWsOl4fePo1zXqJ/TQ1r+d66voDBec5PrDD/FlGAAEEEEAAgekUiA1fzdH7aNrqhdR3oKohq7pLq14KNtXRo+9WKuc4RnFxDaS1Hu/FENRx/6IxSDP0C+gUqGiYa/iLUpi+/lh1kxz1gvV7REm/vMI0WV4soOGwCg51k56yAFQfijf8/f7iV7aqdlucA2tMQENx9Gvqnz9x2F3+rb1u5qv/WLw0r0C96j8oS4d3BBBAAAEEui6g/xPViRBOn7hidbiqsWV9L3riA5uLgLBuJiq3Rg7q++uFD75afOfN+f87PZB1W4r9JlKgqidSQyRjj9nQl+x7dh4tHTJglVXgo57ZsjvA2n681xPQr2W6My+9kfW86u6la1N1/cYjr5wsvU5V/7FoCIxe+rVSQ2CavkFA3fKzHwIIIIAAAuMQ0A+u4aSRUKlvIBjmES4riNSP7Preqt7I77x0MnpdZniclvWd1u4r8fQHLyr9oT527LDrCCCHleO4iRFQEKk/vNjjNvSlWuv9IFJd/woe9QfXb9KdsXRdXo6bA/UrR9e2WW/kTVtXFIFkrB2sN5JrI+Otb7+Y6jmpOsdjhvEjF9bq11a91EupIFJDYBTcMyGAAAIIIDBNAg/sObGouk09+3FRRpEV+j6rTgu99H+7gkn9X6/3qtFZCj71f7v+X296IoBsWpj0swjoy6+CxH5BpD4Q1PtS1cWvtHRjoUm4YVAWvDFlosBf1hpqHLv7mYqlIZc/2rtwp9bcvwaOiaU0W/2nYL9IKsBOMek/I/1qqZd89Z/Ox6+YrDu9pagnaSCAAAIIIBAK6NKl8P9Te3RcuO84lvWDu74r6aX/r/1gsuyH41yXohFAjuOMIM9GBKqCyLIgxQqjP7p7r11PT4yBZHi3IRsKYDSsNfaBqOGZ1zy8v+NZkqcAACAASURBVLiGUrexnqZJvybK5iu7j1f+8FHmImP9xxOz9Y/RDysK2PXS8B0b4koPvK/EPAIIIIBAVwRiN8/RJR76f3PSJgW2+pFXr/vdhcUP7/pRWUGlvitoytn5QQA5aWcI5RlJoF8QWZawPig0VJXrHMuEml9f1Rup4Ee9yxpWrGtSu/4MTv3Y8cCe48XNcIbR19+BhgjfcslscVdlBZC6zkP/WVb9kKL8FLTrpaBe3rEHHQ9TLo5BAAEEEEBgUgT0A204jXP4aliWfsv6f14vPUVB/1/r0Xs5A18CyH6tw7ZWCtQNIhWE6Iuxbp9ML8v4m1offLqAXNeoaqixgp5w0rYnD5xyX79pY/YL3MOypF5WkKz/zP7q2dcH7m3UcGv9avq+S1YW/6GEAbaWbRiMehoVTNbp1VQbKIjU9Rcy5+8kdauTHgIIIIDAOAR0WYj13Fn++r+yjSOdxvH4MwJIO2t475RAVRCpDwh19U/7dXWT2OgK6tV+H3vsUPTRKjakVQGN9mv7pPp8ZffrRVAXC5pj9dN/cqq7BYyDnMfaVzcn0kt5W09nvyGu6rX8vYf2FdcZj+M/qpgB6xBAAAEEEBhWQP/3hZOGh4Y/wIb7sLwgQADJmdBZAQsidZMW+5VJ1zl+4foNY3noamehG6iYetSe+MBFRe+XnnMUTgp23v/owSII0hDLtk0qv3oB1dsYXsBfVhf9p7Zwk5vVyc5fBYN66ccUXUeh/1DLhrjqb0jP6bxrxzp39472mZe5sh4BBBBAYLoE9GOt/s8Lp7YMXw3LPY5lAshxqJNnNgEFkS98eGvR06Iv4PSeZKMfOSO1l8b2v2vz8uJxE7HeObtLq+7Am3Ps/zCVU2+f7ij72F69n4oO0Y2lq2D601euKYLHpoaQWnCqAFWB4pd3v+4+/8zRaBnv2XnEPbZ3YUjrpJvHPFmHAAIIIDDdAgoew1E3+v9Ml4Iw1RMggKznxF4tFtCXYz4U2tuAunZPgf9tPzgU7a1TYKbhlZM0pFXB7kLAeKoIthQwDjJZQPdn2xfqPsixo+6r/0TVw6gfXzSMOPbYG9Vn0sxHrTfHI4AAAghMh0Ds7qv6rsFUX4AAsr4VeyKAwJgE1Av39AcvKnoiY3dNsyGt4xpeqfwVVP30wBtFL6OCx2EmXZ/4Z9tXFze8GXfvnoJ2M9dw23Ayc11LqbsYK+hlQgABBBBAYJIF9H9X7FKNj1w+XY8JG7WNCCBHFeR4BBDIIqAA5f4bLyyGtOrOoLEhrU0Or1RP3K+OLTxrSXeCPXnGubnT80XAqIcRjzLZtY3q9ZukSUNm1bOrR4KUmdswYu03yM18JqmelAUBBBBAYDoE9INo+P1BP1LrHhlM9QUIIOtbsScCCEyAgJ7X+e7NK4vhlbEb0Kgn8OJv/trpP4Sts0sWlVjrt0TW+zv+9MDp4j8Y/VI5anDop+vPT1Jvo1+u2LzMNQy83zDiax7eX1yzqmCYCQEEEEAAgUkUiA1f/fgV9D4O2lYEkIOKsT8CCIxdQL8UPvGBzcWQ1tjwShVQweVzc4uLOuj1iItTGG6NAlcNC1Vvnt613KZJ5bUhrWXDiHXNpG4SpLu6MqS1Ta1LWRFAAIHuC2gkUew7AD98Dt722QPImZnz18nMzy9+UHjV9sGryBEIINBFgTrDK8dZbwWJ6im1gHHc1zSmsLBhxHr+5J8/cXjRXeyUhx67outL/uKqtY3eOTZFfUgDAQQQQGB6BGI/OGt0DZdfDH4OZA0gFRz6QeOgy4NXjyMQQKDrAhpeuWPjitI7huaqv/4TumnrymKop4LHLvfA6dda9QLrGauxGwbpV14FmLpuUne202NI2tbjmuu8IR8EEEAAgTwCD+xZ/OxHbp4znH22ADIMFlVcBZO23t79avjb/fXMI4AAAr6AAjYNr7xn51GnXxj1LMOUk36dvGzt0iJJBavrV8y4VUtd0cOoQFH5T9ukgPCHt2x2d/78iLvv2aPR6utGBeqR1EtGeiwJt0qPUrESAQQQQKBBAd3PILxvgv7/ZvjqcOjZAsjhisdRCCCAQD0BDWnVtXd62aRA8rm5N23x3HvZeu2gnjWlNa2B4TmkGjMykreGtOr6R910qGxST6VeCjgVROpxJQwbKtNiPQIIIIBASoHYzXP+cNts8f99ynymJa1sAWSsNzHW6zgK/Ouvv+5ee+21niROnjzp9u/f37OOBQQQmB6B345U9beXOvdPN0Y22Kq3HuP40ku2gvd+Alc65/7heuf+4y+XuIf39dvTFb3DevSHXu/b7Nwf/dZZ955N/Y9JufUfTy6k9vbJemJKyiqSFgIIIIBAIPCfdi++K/vNa4+5l146FuzZrcWVK1e6LVu2JK9UtgBSJbcg0mqh5ZTTz372M/fqq6/2JHno0CG3a9cuNzvLLXp7YFhAAAEEEgt8xDn3vuXL3X8/+1vuB2d/yx2e73+n2UcOOPfIgSVu88wpd8OSA+4dM79xK2YW/l9Y7d50l84M/h/7gfmV7qCbdXo/ML/KHZxfVczbOqvyhpk33NUzh9zVSw65/3XJa265K+89tWN4RwABBBBon8Av5je4A29c3VNw/R+zYveT7vHd3f/s/9CHPuRWrUr7q2nWADLscQyXe1p2iIX3vOc9i4568MEH3Y033ui2bdu2aBsrEEAAAQTSC3zqrSR1PeoDe44Xd2Xtl4uCvYfPvN097N5eupt/Hap20h1uVy517sVjZ5xu2vOrt95LEwg2KLj98fwW9+OzC7/MaiiThuLqvQt3zA2qyyICCCAwtQK64Zvb83pP/f/d9g3u4zd8tGcdC/UFsgWQsWDReiRT90TWrz57IoAAAgg0JaCbE+ilGxf81bOvFzc46nedZL9yLASJ569njT3Lq9/xVdu+/dIJp5fuHqvrYG/dNlsEk5pnQgABBBBop4AeKxV7fAd3Xx2tPRcPCB4tPY5GAAEEEECgR0B3bP3SDRvcrz9ysbv/xgsn/pEeulvfPTuPuGse3ucu/9beIqjUlxAmBBBAAIH2CNy984h7/6MHne4I7k8a0aJHbzENL5CtBzLW2+j3SlZtH76KHIkAAgggMAkCumur7sCql+7I+pXdC72S4X/uTZZVw1NVDvVo1pm0nz2KRHfn1RDXj1+xmi8fdfDYBwEEEBiDgO60rjuDl41U0Wc402gC2QJIFdOCRCtyOHS1arsdxzsCCCCAQLsF9FxIve69dl0xdHTvibPu1Bnnnjxw6lzFNNxVvYGDTPYYFvV6bpld4t6xfllxTaOe4+k/NkTpasjqd146UTsPleere14vXkpLX0I+cQWPIxmkfdgXAQQQaFJAP07e9oPXSp8Hrf93PnvVBU0WYSrSzhpASjQMGkPlqu3h/iwjgAACCLRXQD2Ct29fW6sC/QJKCxxrJfTW8z51zN071hW9kRqi+sgrp4qgsk4a6pnUMFe9NBRKwaSu91TvJhMCCCCAQH4BPR5Kzxoum/R/jZ5dzOd0mVD99dkDyPpFY08EEEAAAQTOC2gIaRPXrag3UV8s9NJwWvVMWjBZ56Y/Giall27AoyCSIa7n24w5BBBAoGkBfU7rTqv67I5NChh1Hb4un2BKI0AAmcaRVBBAAAEEOiCgLxp299j73YXFtZrffGHhDq1V100q+BxmiGtZz2oTwXIHmogqIIAAAucEdDmChqyWfT7rcoav37SxuLv2uYOYGVmAAHJkQhJAAAEEEOiqgF2rqWFPduMf/cpd1TPpD3Ed1kY9rgpmP33lmom/c+2wdeQ4BBBAYFgB3eDsjqfmFt1l1dLTTc905299ljKlFUA0rSepIYAAAgh0VEDBpL6M2ONIbrlkVaM1VZCqL0i/99C+4lb0sWeZNVoAEkcAAQQmUECjPXSXVV02UHYXb/3o99DNmwgeG2o/eiAbgiVZBBBAAIFuCmiYqz2ORLeL17DVB/accM/NDXbH2EF0dJMfvfRr+59tX+Nu376muLvsIGmwLwIIINB2AX3O3vaDQ6Wft7oxmwJH/eDH1JwAPZDN2ZIyAggggEDHBfRl5bNXrXO/uG2Le+IDFxU34mlyuJQCVt359eJv/rr4BV5BJRMCCCAwDQL6se6ah/eXBo+6bvzpD15E8JjhZKAHMgMyWSCAAAIIdF/Av15S10k+sOd40WtYVnMFn3pOZWx6bu7N0ueY2f4a0qqXbhKh6yR1vWSTwavlyzsCCCCQU0DD+fvdZVVl+cyVFxSP6MhZrmnOK/4/1zSLUHcEEEAAAQRGEPDv5DpCMsXQ2K/sfr24eU+/dDSkS9cCaXirgkgNcWX4Vj8xtiGAQFsENMpCwaNGX8Qm/Wima9N1wxymfAIEkPmsyQkBBBBAAIHaAnadpQLEzz9zrOhtLLthhBL1HyOiL1X6QvW+S1YW7wpqmRBAAIG2COjz7J6dR93nnjlSWuQdGxce0aFRGEx5BQgg83qTGwIIIIAAAgMJ6MuRfmHXXQU1ZFXBZNkzzyxhDfmyZ1JqnR9MaugsEwIIIDCpAlU3ylG5NWT13mvXOX4cG08rEkCOx51cEUAAAQQQGEhAvYq3b19bvDSsS9dY1n20h67J1EtDXfWr/Ucun3W3XDLLw7UHagF2RgCBpgXue/aou/PnR0ofz6EfwPSDWtOPUWq6nm1PnwCy7S1I+RFAAAEEpk5AX570Uq/kXz37etHbWHaNUIiz89AbTi99Sbts7bIinVu3rSqCSXonQy2WEUAgh4A+v3StY787S2skhYJHbhaWo0X650EA2d+HrQgggAACCEysgAI+DePSSz2Mj7xyqnivG0xqKOyXdx8rXlZJ3Qpf6W5fv+xcUMlNeUyHdwQQSC2goPFjjx1yGnofmxQw6scyXRfONBkCBJCT0Q6UAgEEEEAAgZEE9Ou8Xl+6YUPRw/jNFxaGrep6okGmH+09Fd1dvZWXrV3q3r15pdsyO+N2bDz/oG4FmFyLFGVjJQIIlAjoRjkaVq/rtcsmfbZ8/aaNxWiJsn1Yn1+AADK/OTkigAACCCDQqICuc9RLPZPqZdQv/N956WTf4WFVBVI6epUFmFXHq2czNql34Z0bF99FcdVSVwSr/jF6bibDbH0R5hFop8CTB04XQ1bLfuDSD1J37bjAffaqde2sYMdLTQDZ8QameggggAAC0y2gnkO7+Y6GiCmYtKGuZUPGmhDrF3hq+O2gk/V66ovmuzYv9IZunV3i7Jb+BJuDirI/AnkEFDz+wfcOlN4ox+48zdD5PO0xTC4EkMOocQwCCCCAAAItFFBv30cvX1287ncXFr2JCux2HXqjeFC3vti1ZfLL2u/GGwqgFUwqyNQXUs1rHRMCCOQX0PXZt/3gtdLgkcdz5G+TYXLkE3QYNY5BAAEEEECgAwIaVhoOLdWQsr0nzhbB5YvHzhTDVhWs6XqlNk429NYPMtVrqWBS13G+c6MCzOXFchvrR5kRaIuAPkMUPMZu8qWh6Tyeoy0t6RwBZHvaipIigAACCCDQuICCqXesd4sCS33pe27uTbfz0Gn34rGzxXusMG0INvVFVj2v4bDahWtHF4JK3ZCoqZ5KWWrY7ld2v17c8MgCWAWzukkRQ/diZxbr2i6gRwf5IwesPnokkW6Uw+M5TGTy3wkgJ7+NKCECCCCAAAJjF1APgV5hj+WgBQuDNjteQV3sy6W2z52ePxewKoiN9WBYOqO82zMylcYdT80VPZMfuXzWffTy2XPXVg6bvuqnoNHujuuno17f8GYiclYw+a7NCzdEaiqY9cvBPAJNCehOq/c9e3RR8vrx5KGbN3EX50Uyk72CAHKy24fSIYAAAggg0CmBfgGoeiLqTn7AuTBM9Uxx6E/fGm6rYbhhUFY3bdtPx9+zU68jRW+keiU/fsXq4g63tk/Vu4bOKmj8xgvHBxoGHPaQKnhXz6QCSgWWcvTr7ZfDeov9deF8eJfbfu0SHssyAoMI6IchPa4jnNTj+NDNGwkeQ5gWLBNAtqCRKCICCCCAAAII9AroOsbzQU/8ESE6Qr2KCz18b7rH9p4qloe5+6yCNfWg6KVgTsGkeifPl+F8+ZTnA3uOF0Fjqt5SG/Y6zB1rz5es3pwCVflq0nWi61fouZ/LizrXS4G9EFgQ0N/axx47FP3xRNc8qgeSqX0CBJDtazNKjAACCCCAAAI1BeyZmP7u1kOnXj7dgVbDYgfprdTxX959rHipF0XB5K3bVhVpPLDnxEBp+eWalHl/KLE/5FjDaL9w/XoCyUlpqBaUQzfN0Y8v4XTXjnWcRyFKi5bHEkDOzCz8qiWn+fneu7r129YiV4qKAAIIIIAAAhMqUHY9p4Il3STosb2ni+sV6xRfPSy6vkuvQSYFthoOq8eqaLjtkwdOuZ8eeKO4DnSQYHaQPEfdV4GAAgKV/d5r17tBhhyPmjfHt09AN83xf4CwGui8uXvHOlvkvYUCWQNICw7DoNHctN3fFi7bfrwjgAACCCCAAAKpBTQcVa/PXOmcAkMNF33klVPFu665HHVSD54Cxo9f0XtTHgW0Cspu376Qg13fqS/fuqZTPYLDDLsdtbxlx2uI7vsfPVhYqScpNoy37FjWT4eA/nY+98yRRZXV34DuuMrUboGsAaSo/ADRp4sFi9o3tt4/jnkEEEAAAQQQQCC1gIamfuKKNcXL7qBqweQgwZzSUdBYdr1krNx2facfmKn3T4GkeinVS1o26ZqyLbNLFm1+x/plxbWbKrsCQE2nzrii59N2jvUW2bbYu/b/0fcOFEMRFUgqCGZCQD3ouu4xnHRe646r+ptgardAtgCSQLDdJwqlRwABBBBAYFoF9MVXQaBe97sLix7J77x00ukOq2U3ydG+ui5S7ykm9dws9GCOnpqu2ayaFGQq2FTwrOdV9rt5j7bppbree+26xp6fWVVmto9fQOfMbT+I3zTnSzds4EeG8TdRkhJkCyBVWgWR/lTWG+nvwzwCCCCAAAIIIDBJAgrALAhTL5we06FeFwWa6mnUtrb3svi9ibpmTQHlHU8djl7TZm2jR5Xodfv2te6uHRcUPZ62jffpEPjk47+J3kTqM1deUPTmT4dC92uZNYAMA8bUvZI/+clP3Msvv9zTaq+++qp79NFH3exs9a9tPQeygAACCCCAAAII1BD45845vYrpgHP/7Slb6Nb7nzrnbly+wX3jzcvcnvnym6DoDrX/afcR9y+W/NrdsvQf3eaZU92CoDZRgf965lL37TOXLtp2xcwRt2PP4+7BPWcXbWNFswJLly51t956q1u1qv4zduuUKGsAGRYo9TWOV199tbv00t4T9/vf/7575zvf6S666KIwe5YRQAABBBBAAAEEBhC40TmnQPKRA2fdfS/MuGeP9Y4us6TecEvc985eUryuXDvvPnzxvHvfZufenvZ7rGXH+5gFfvSac3+7a/G1jZtXOPeN69e6zSv+6ZhLOJ3ZK4BMHTxKcqwBZOqmXL9+vdPLn1avXl0Ej9u2bfNXM48AAggggAACCCAwpMCfbnPuT691xeNL7tl5NPqsP0taQeZ//KVerrgGTo8v0TBfXdPJ1H4B3eDp04/vd8719jBqSPfD793srlUUydQpgcU/FXSqelQGAQQQQAABBBBAoCkB3an2hQ9vdV+4fn2tax4XrqWcc5d/a6+75uF97r5n+wefTZWbdNMI6CZL73/0tehjZnRDpXcTPKaBnrBUsv30Exuu6l8DWbV9wtwoDgIIIIAAAggggMBbArpJim6eo4Dw888ciwYUIZaCyZ1Pzbk7npobuGey7JEj6vUiaAml0y3rLqt6nMxje/V80lOlN1XSDws6J5i6KZAtgBSfBYlGqWV/qtru78s8AggggAACCCCAwOQIKHj77FXrikBSd2PV3WnLAr2w1H4wGW4bdVnPxtwaPBvzpq0ri2RXLXXFcFrtM2mTAjU981NB27s3r3T2LM+c5dTdhe35o2pLLVdNuoOvHtnB1F2BrAGkGMOgMaSt2h7uzzICCCCAAAIIIIDA5AjoESbqjdRLz8nUMyIHCSZT10RBz3Nzvan6ge2dPz9SXI+p6zJ1fab/CJPeo5pbsmBx16E3i6BRy7HJelh3bFzhLl27xOldPa5aP+qktnpu7s2iZ/GnBxYCx7LnnJblpbZ/6OZNScpTlgfrxy+QPYAcf5UpAQIIIIAAAggggEAOga2zSycqmCyrs24Eo+G3eqnMCiZv3bbK6RmYqae6wWIsX11zqODXD4C1n8qsHkr1rF62dmnPDYp0jB+Q/vTAaad1mhQwDhokxsqldQpiv37Txp68y/ZlfbsFCCDb3X6UHgEEEEAAAQQQaIVAW4JJBVR6lqVe6lHzg8m6PX0W4Ok6wZNnnNt16I0iUPMDuZSNpjLrZfmmTLsqLQ3/VS+obpqjNmbqvgABZPfbmBoigAACCCCAAAITJTBMMKlgru7w0lSBlK4//Oqe14uXgkcFk++7RL18y4qATT14c6fni2GnYU/fRIEnKowMFCyqp1PveqldmKZLgAByutqb2iKAAAIIIIAAAhMl4AeTTRVMQ1R/dezMueQt2Ns992ZxjaYN6Ty3Q2RG++jmQHrlmBSc6RrHLbNLih5MBat1bmKTsmwKlFWOd21WL+NC0JgyfdJqpwABZDvbjVIjgAACCCCAAAII1BRQIKSXP9n1jQoMv/fKSfedl04WwaR6HXNPFiy+c+OyczfGKSuDhsEqkFRA/FhxZ9TRr2Nc8FkYfqpAcSFgXMGQ1LJGmPL1vX9JU45B9RFAAAEEEEAAAQSmS8CGpmp46v3uwuI6Qt01VnePTXWDGV90kGDRP87mdbxe/mQ9qgosd8+dKYbU2nZdo6heTE3+o0DCm+3Y/rwjUCVAAFklxHYEEEAAAQQQQACBqRF4z9aVTi89y1DPp3xgz/Gih7Lu8FG7VlOB6buKR2y4YvinXT/YBKTStnI3kT5pIuALEED6GswjgAACCCCAAAIIIPCWgG7as+P69e4Lbn0xbPQbL5woho1qswLFd25c7jasmCmGnVrgCB4CXRcggOx6C1M/BBBAAAEEEEAAgZEFNBT07h3LR06HBBBouwD33W17C1J+BBBAAAEEEEAAAQQQQCCTAAFkJmiyQQABBBBAAAEEEEAAAQTaLkAA2fYWpPwIIIAAAggggAACCCCAQCYBAshM0GSDAAIIIIAAAggggAACCLRdgACy7S1I+RFAAAEEEEAAAQQQQACBTAIEkJmgyQYBBBBAAAEEEEAAAQQQaLsAAWTbW5DyI4AAAggggAACCCCAAAKZBAggM0GTDQIIIIAAAggggAACCCDQdgECyLa3IOVHAAEEEEAAAQQQQAABBDIJEEBmgiYbBBBAAAEEEEAAAQQQQKDtAgSQbW9Byo8AAggggAACCCCAAAIIZBIggMwETTYIIIAAAggggAACCCCAQNsFCCDb3oKUHwEEEEAAAQQQQAABBBDIJEAAmQmabBBAAAEEEEAAAQQQQACBtguMNYCcmZlZ5Kd19lq0kRUIIIAAAggggAACCCCAAAJjE1g2rpzLgsf5+flzRdI+/vK5DcwggAACCCCAAAIIIIAAAghkFxhLD2QsMIytU/AYCzSzK5EhAggggAACCCCAAAIIIICAyx5AxgJF2gEBBBBAAAEEEEAAAQQQQGDyBbIGkASPk39CUEIEEEAAAQQQQAABBBBAoEwg2zWQOYLH559/3u3bt6+nrq+99prbuXOne/HFF3vWs4AAAggggAACCCCAAAIIdFVg2bJl7rrrrnN6TzmlTa2iZLHrGXMElhXFYjMCCCCAAAIIIIAAAggggEANgWwBZOxuqqmDx9/93d91evnTyy+/7Hbs2OG2bdvmr2YeAQQQQAABBBBAAAEEEEBgQIGs10AOWDZ2RwABBBBAAAEEEEAAAQQQmCCBiQkgY4/sSN1DOUHuFAUBBBBAAAEEEEAAAQQQaJ1AtiGsdWTCIDI27LVOOuyDAAIIIIAAAggggAACCCCQXmCsAWQsQIytS19tUkQAAQQQQAABBBBAAAEEEBhUYGKGsA5acPZHAAEEEEAAAQQQQAABBBDIK0AAmdeb3BBAAAEEEEAAAQQQQACB1goQQLa26Sg4AggggAACCCCAAAIIIJBXgAAyrze5IYAAAggggAACCCCAAAKtFSCAbG3TUXAEEEAAAQQQQAABBBBAIK8AAWReb3JDAAEEEEAAAQQQQAABBForQADZ2qaj4AgggAACCCCAAAIIIIBAXgECyLze5IYAAggggAACCCCAAAIItFaAALK1TUfBEUAAAQQQQAABBBBAAIG8AgSQeb3JDQEEEEAAAQQQQAABBBBorQABZGubjoIjgAACCCCAAAIIIIAAAnkFCCDzepMbAggggAACCCCAAAIIINBaAQLI1jYdBUcAAQQQQAABBBBAAAEE8goQQOb1JjcEEEAAAQQQQAABBBBAoLUCBJCtbToKjgACCCCAAAIIIIAAAgjkFSCAzOtNbggggAACCCCAAAIIIIBAawUIIFvbdBQcAQQQQAABBBBAAAEEEMgrQACZ15vcEEAAAQQQQAABBBBAAIHWChBAtrbpKDgCCCCAAAIIIIAAAgggkFeAADKvN7khgAACCCCAAAIIIIAAAq0VIIBsbdNRcAQQQAABBBBAAAEEEEAgrwABZF5vckMAAQQQQAABBBBAAAEEWitAANnapqPgCCCAAAIIIIAAAggggEBegWV5s3NuZmbmXJbz8/Pn5m2marvtxzsCCCCAAAIIIIAAAggggEBegawBpIJDP2gcdDkvDbkhgAACCCCAAAIIIIAAAgj4AlmHsPrBowqhZetxDIPJcLtfaOYRQAABBBBAAAEEEEAAAQTyC2QNIPNXjxwRQAABBBBAAAEEEEAAAQRSCRBAppIkHQQQQAABBBBAAAEEEECg4wJZr4EMLWPDVsN9Blmem5tzevnT8ePH3f79+/1VzCOAAAIIIIAAggGWEQAAHDRJREFUAggggAACnRfYtm1b8jqOLYBMHTxK5vnnn3e//OUve5AOHz7sdu3a5WZnZ3vWs4AAAggggAACCCCAAAIIdFVg6dKlbtOmTW7NmjVJqziWALKJ4FEq1113XfHyhR588EF34403uiaibz8f5hFAAAEEEEAAAQQQQACBrgtkvwayqeCx6w1F/RBAAAEEEEAAAQQQQACBcQtkDSD7BY/+Iz0Mpd/+tg/vCCCAAAIIIIAAAggggAACeQSyD2FVUBhO9nzIMIi09eH+LCOAAAIIIIAAAggggAACCOQXyBpA1gkI6+yTn4kcEUAAAQQQQAABBBBAAAEEsg5hhRsBBBBAAAEEEEAAAQQQQKC9AgSQ7W07So4AAggggAACCCCAAAIIZBUggMzKTWYIIIAAAggggAACCCCAQHsFCCDb23aUHAEEEEAAAQQQQAABBBDIKkAAmZWbzBBAAAEEEEAAAQQQQACB9goQQLa37Sg5AggggAACCCCAAAIIIJBVgAAyKzeZIYAAAggggAACCCCAAALtFSCAbG/bUXIEEEAAAQQQQAABBBBAIKsAAWRWbjJDAAEEEEAAAQQQQAABBNorQADZ3raj5AgggAACCCCAAAIIIIBAVgECyKzcZIYAAggggAACCCCAAAIItFeAALK9bUfJEUAAAQQQQAABBBBAAIGsAgSQWbnJDAEEEEAAAQQQQAABBBBorwABZHvbjpIjgAACCCCAAAIIIIAAAlkFCCCzcpMZAggggAACCCCAAAIIINBeAQLI9rYdJUcAAQQQQAABBBBAAAEEsgoQQGblJjMEEEAAAQQQQAABBBBAoL0CBJDtbTtKjgACCCCAAAIIIIAAAghkFSCAzMpNZggggAACCCCAAAIIIIBAewUIINvbdpQcAQQQQAABBBBAAAEEEMgqQACZlZvMEEAAAQQQQAABBBBAAIH2ChBAtrftKDkCCCCAAAIIIIAAAgggkFWAADIrN5khgAACCCCAAAIIIIAAAu0VIIBsb9tRcgQQQAABBBBAAAEEEEAgq8CyrLnVyGxmZubcXvPz8+fmmUEAAQQQQAABBBBAAAEEEBivwEQFkAoe/aAxXB4vFbkjgAACCCCAAAIIIIAAAtMtMDFDWGPBooJJv0dyupuK2iOAAAIIIIAAAggggAAC4xWYmAByvAzkjgACCCCAAAIIIIAAAgggUCVAAFklxHYEEEAAAQQQQAABBBBAAIFCYKKugRy1Tf7hH/7B/exnP+tJRkNgv/a1r/WsYwEBBBBAAAEEEEAAAQQQ6LLAsmXL3Kc+9Sm3Zs2atNWc96a//Mu/9Jbyzjqn++csnsrWL94zvuZrX/va/IsvvhjfmHjtrl275v/u7/4ucarx5A4fPjz/13/91/GNDaxVvVS/HFNOR9VHjvLMMeGYRhlHHKsEuvp3rf/P9P9argnHNNI5HX/84x/P65Vjyn0+5vxOh2OaMwjH9jmGJY59fjGENW08TmoIIIAAAggggAACCCCAQGcFCCA727RUDAEEEEAAAQQQQAABBBBIKzAxAWTskR2xR3ukrT6pIYAAAggggAACCCCAAAII1BWYqJvohEGklkedNm3alP7C0ZJCbdiwwc3NzZVsTbt65cqVbsuWLWkT7ZPaunXrnOqXY8rpqPrIUZ45JhzTKOOIY5VAV/+udSME/b+Wa8IxjXROx/Xr16cpdI1Ucp+POb/T4VjjBKixC441kGrsktOxRnHcjC6UtB3vvfded+edd9oi7wgggAACCCCAAAIIIIAAAlMq8MUvftH98R//sfOD2IkZwjqlbUK1EUAAAQQQQAABBBBAAIHWCBBAtqapKCgCCCCAAAIIIIAAAgggMF4BAsjx+pM7AggggAACCCCAAAIIINAaAQLI1jQVBUUAAQQQQAABBBBAAAEExitAADlef3JHAAEEEEAAAQQQQAABBFojMJUBpJ4vaa9YS2lbqsnyKUuzbP0w+efMS+XLmV9X8/Id/Ta3+vrrUszH0o2ta1teKm+sHrF1batbrA6xdSnqFUtDeeWaupqX/KjbYGdRmZfW22uwFMv3zplXv3PB6lVWnvIalG8pS6vteeV2LBNuwnES8jJfq19ZmVKtt3z03vSUMy/VpYn8LM2mrfqlP1HPgexX0FTbhO49uaRoWH85VT5Kp6t5dbluOdssdLS87T3cruVRpli6sXWj5GHHxtKNrbP9R32PpR1bN2o+Oj6WbmxdG/MqK7Pq50+jfmaG6flph9valJfqEZafuvkCo83L1j8fwuXRUu89Okw7XO7de/SlMP1wefQczqcQph0un99z9Lkw7XB59Bx6UwjTD5d7966/FEsnXBcu10+9d89YOuG6cLk3hcGWYmmF68LlwXI4v3csnXBduHz+6MHmYumE68LlwXLo3TuWVrguXO5NYbAlfRYqPU3+5+JgqQy/91QFkLGGswZIjd/VvHSqdbVuOesVc4ydi7F1w/y5h3WLpRtbN+l54bjwH4jabtSprP3Dc2fUfHR8V/OibinOjngasfOw7DyKp1B/bc68VKqc+XU1Lxzrn99Ve3b1HMlZr1zno/3fr7ppsuWqNk6xfSqHsIZw9p9QuL6J5a7mJauu1i1nvZo450gTgboCOc/1ruYla+pW94xjPwQQQACBUQX0f479v2PB5KhpVh1PAPmWkMFXgaXY3tW8ZNPVuuWsV4pzjDQQGFYg57ne1bxkT92GPQM5DoHJE+DvOU2b4JjGsSwV+Zpx04HkVAWQhtoPPhV4V/OSXVfrlrNe/c7Bsm2p16u+uaacealOOfPrYl6qU6rPwqpzrKt52XnYRcfcdas6h9iOQC6Bfn/P2pby/4OceckvZ35dzSu3Y9l5r/Ow6f9bp+oaSEFX/XFXbS9rrNj6qrSqtsfSLFtXlVbV9rJ0y9ZXpVe1vSzd2PqqtKq2x9IsW1eVVtX2snRj65VW1X84Vdtj6cbWdTUv1bWrdctZr37nTGxb6nVW19TpxtLLmZfyz5lfzrxy1K3fl0zln+rz0dLSe9mUMi/l0dW65axXbkf9ffl5hnW17cVOI/5jaVke9m7J2nZbHvXd0rN87N3Ste22PMq7pWV52LuladtteZR3S8vysHdL07bb8qjvlp7lY++Wrm235abfm8xv6gLIphuL9BEYRKDqj7tqO3ktCFQ5VW3HMS6Q0i2ew/m1Xc1LNaRu59u57lwdszr71MmvTjp19qmTl/apk1adferkVyedOvtMWl65Hf36p/Ly0yybz5lXXdOysg66PmfdcuaVwzF3fWJtO1VDWGMAsXXhLwaxfVKt62pe8ulq3XLWC8dUf2mcj6kkc57/Xc2ry3/XXa5bzvMRx1SfWHz2p5LMef53Na8u/V0TQKb6yyIdBBBAAAEEEEAAAQQQQKDjAlM1hLWrv2jkrJf+HnLm19W8cEz3ydrVcyRnvTgfOR/rCOQ8J7uaF39rdc60evt09RzJWS/Ox3rnWp29crZbzrzK6j5VAaSNGRa8zcdgUjSMpd+1vOTV1brlrBeO6X6IyNluXc2L85HzMfZ/Ybiuq+d/znrxt8bfWvh3FS5zPqY5R3BM4xien7bMEFaT4B0BBBBAAAEEEEAAAQQQQKCvwFQGkParRJlM1fay42Lrq9Kq2h5Ls2xdVVpV28vSLVtflV7V9rJ0Y+ur0qraHkuzbF1VWlXby9ItW1+VXtX2snRj66vSqtoeS7NsXVVaVdvL0i1bX5Ve1faydGPrq9Kq2h5Ls2xdVVpV28vSLVtflV7V9rJ0Y+ur0qraHkuzbF1VWlXby9ItW1+VXtX2snRj66vSqtoeS7Pfuqr0qrb3SzvcVpVW1fYwvX7LVWlVbe+XdmxbVXpV22Nplq2rSqtqe1m6sfVVaVVtj6XZb11VelXb+6UdbqtKq2p7mF6/5aq0qrb3Szu2rSq9qu2xNMvWVaVVtb0s3dj6qrSqtsfS7LeuKr2q7f3SDrdVpVW1PUxvkOWpDCAHAWJfBBBAAAEEEEAAAQQQQACBBQECSM4EBBBAAAEEEEAAAQQQQACBWgIEkLWY2AkBBBBAAAEEEEAAAQQQQIAAksdSJPsrSHH32rqF6Wpeqn9X65azXjjW/Uuq3i9nu3U1ry6fj12uW87zEcfqz6K6e+Rst67mxflY92yr3q+r5wgBZHXbswcCCCCAAAIIIIAAAggggIBzjgCS0wABBBBAAAEEEEAAAQQQQKCWAAFkLSZ2QgABBBBAAAEEEEAAAQQQIIB0zjX5nJTwFGs6L421tvHWTeeVu25+fk3XDUdfe/h5HIe384/E0dcYfh7H4e3CI8dl2fRnv1/PHHnh6IsPP4/j8Hb+kTj6GsPPT4PjsuF52n+kGrhsSvkfh/JJmV5ZmbXe8rG62XK/Y9q2zepm5W6ijpam5WXLlmcT75ZXLO2U+SuflOnFymvrLB+rmy3b9i68W92sLk3U0dK0vGzZ8mzi3fKKpZ0yf+WTMr1YeW2d5WN1s2Xb3oV3q5vVpak6WrqWny1bvqnfLZ9YuinzVj4p04uV119neVn9bNnfp83zVi+rQ1P1s3QtP1u2fFO/Wz6xdFPmrXxSphcrr7/O8rL62bK/T5vnrV5Wh6bqZ+lafrZs+aZ+t3xi6TaV99QGkMJuCjXWgLnXWd3spLLlUcth6dVNJ1W+ll+s3WLrbP9R3638Vm9bHjXd8Pgm6xDmNY5lc0vtaOnVrZOVo+7+VfvF2i22riqdutut/FZvW657fN39mqxD3TI0uZ+5pXa09OqW3cpRd/+q/WLtFltXlc4g260OVndbHiSNqn2brkNV/jm2m1tKR0urbvmtDHX3r9ov1m6xdVXpDLLd6mB1t+VB0qjat+k6VOWfY7u5pXS0tOqW38pQd/+q/WLtFltXlc4g260OVndbHiSNqn2brkNZ/lMbQJaBNLFeJ8y4GthOVjt5VT9bN0xdRzl2mPz8Y8oMc/havc3Rlv3ytWU+h1eZhbmZo/azdWXH9Fs/yrH90q2zjfOxjlL1PpyP1UZ19hjn+ajy2d+i/W3bcp2yT9I+4zwfY47+ukGdxtkGnI+DtlZ8f87HuMugazkfBxWr3p8Astpo5D3sP1R7DxNs8kPe8vTziK0Ly8Ryr0CXzKwu9t5b0/NfBMP1KZYtT87H0TRjjqOlOL6jrS72HpbEP1fCbaMuW55+HrF1o+YzDcd3xc3qYe9h2/nnSrgtxbLl6+cTW5ciry6n0RUzq4e9h23mnyfhthTLlq+fT2xdiry6nEYXzQggM5yx/h9ehuyKLPqdrCnLY/mU1StlXmV5NLne6tf2evhG46hLP8eU5bF8/Pr68ynz8tPNNW/1a3s9fK9x1KWfY8ryWD5+ff35lHn56eactzp2oS5yG1c9+jmmKpPlUXZ+pMqnLP0c662OXagL5+N8jlOm0Ty6dj76WFMbQOrDRQ2b60PGTiIf3+ZTlsHySZmmlTP2XpZPE7bKq4l0Y/Uah2Ouuqm+Vr9Y3cvaNLZv1TrLJ2Wa/fIsy6cJW87Hfi0x2DY7T2JHlbVpbN+qdZZPyjT75VmWT9vPR9U5p2XOvzW/brG2LWvT2L511uV2jJWJ8zGmUr6O87HcZpAtZX9LnI+DKC786NWEWVUppjaAtA9tew+hyk7scL86y37Dls3XSafOPinLXSe/sn2a+IC1trL3MG9//agOox4flq1q2cpu7+H+KcujPCy9svkw/2GXLZ9hj091nMrh1zVFutZW9h6m6a8f1WHU48OyVS1b2e093D9leZSHpVc2H+Y/7LLlM+zxqY5TOfy6pkjX2srewzT99SkcUqQRlrFs2cpu7+F+KcuiPCy9svkw/1GWLa9R0hj1WJXBr+uo6el4ayt7D9P016cwSJFGWMayZSu7vYf7pSyL8rD0yubD/EdZtrxGSWPUY1UGv66jpqfjra3sPUzTX5/CIEUaYRnLlq3s9h7u11RZpjaAbAo0bLh+yyqDGjx1WcpOIpUldV796pd6W5vLXmUxCXVTGTgfq1rq/PZJaLPzpUk7Nwl143wcrE0noc0GK3H9vSehbk2dj1Lo4v/Zk9Bm9c+wwfachLpxPravzQYrcf29x3U+Tm0Aqabp4oe2HwCUzdc/LSdzT2s3+6Px65m6xJaXpWt52nLK9zAvP+0m8/XzST3vt03ZfOo8c6dn7WZt5NczdVksL0vX8rTllO9hXn7aTebr55N63m+bsvnUeeZOz9rN2sivZxNlsfwsbcvXllO9h/n46TaVp59HU/N++5TNN5V3jnSt3ayN/Do2kb/lZ2lbvrac6j3Mx0+3qTz9PJqa99unbL6pvHOka+1mbeTXsYn8LT9L2/K15VTvYT5+uk3lucTPZJrm7aQxWL37812zUN36nWBtqa+1m1/epupmedm50VQ+qoufl5YtT5v369uF+SYtc/pYu/l5NlU3y8vOjabyUV38vLRsedq8X98uzDdpmdPH2s3Ps8m6WX52fjSVl5+P6mb52bxf367MN2WZ08fazc+zyXpZfnZ+NJWXn4/qZvnZvF/frsw3ZZnTx9rNz7PJell+dn40lZefj+pm+dm8X9+U81PdAxmDtAbWe6rJT9OfT5X+ONPRiVs2pTRUHvZHUpZfyvVleeVuvyby89P051P6jSstzsdm5Zs4X/w0/flma5In9a6ej9KbhM/IJs4XP01/Ps8Z02wunI/N+jZxvvhp+vPN1iRP6pyPzTo3fb4QQDbbfudSV0PaZI2qZX+9bW/Te9vL3ybrlGX1243zMaUsaQ0jwPk4jBrHNCXA+diULOkOI8D5OIwaxzQtQADZtHBJ+v4HQskuQ61WuvbLsD8/VGIlB/X71cg/pKk6+nkwn0agqbbyz0F/Pk2pF1LhfEypORlpcT5ORjtQigWBps5Hpe5/Lvrzqez5fEwlOTnpcD5OTltMc0mmNoD0P6j9+VQnQ90PbeWX+sPAT8/qljofP48yMxnU2a/s+HC91SVMM3U+ZhVLN7YuLOcwy37d/Plh0oodo3LXnULfuseV7eenZ3XTvv76smPrrq+TVuq2s7qEeafOx6xi6cbW1TXrt59fN3++3zGDbFO5606hb93jyvbz07O6aV9/fdmxddfXSSt121ldwrxT52MGOfPz8/LnrSyjvo/zfFTZ/Taz+oXrR6mjn35ZOqnPE6tHmHfqfKw+OfPz8/LnrSyjvnM+lg+RH9a2rJ04H4cVdW5qA0iR6YSyyU6ucL1tH+bdT3+Y41MdMynlSFEfv53sQ7ap+vl5Wdmbykvp+2n7efvrrRzDvKdKZ5i8/WMmpRx+mYad99uJ83EwxUk5DyalHIPpxffOeT6qBH5+VqKmPP10/Xz99VaGYd5TpTNM3uExk1SWsGyDLPvt1PTno8rl52flbMrST9fP119vZRjmPVU6w+QdHjNJZQnLNsiy306cj4PIxfed6gAyJEn5R+KfqCnTDcusZftDiG0L1zVdljC/JpZz1iFnXqFVyryVlp0nKdMNy6xlyye2LVzXdFnC/JpYzlmHnHmFVinzVlp2nqRMNyyzli2f2LZwXdNlCfNrYjl3HXLnZ2Yp81Vadp6kTNfKGr5bXuH62HKO8sTyTbUud/lz52dOKfNVWnaOpEzXyhq+W17h+thyjvLE8k21Lnf5c+dnTjnyJYA07QberQHtj9OWG8iqp/eqifT9NJush59P7nlrpzr5ttHAymz1tOU69R10nybTDsuSM68w7yaXrZ3q5NFGAyuz1dOW69R30H2aTDssS868wrybXra2qpNP2xysvFZHW65T12H2aTp9K1OufCy/nO/WVnXybJuDldfqaMt16jrMPk2nb2XKlY/ll/Pd2qpOnl1wmKoAsm7jpm5YS8/yt+U6J1mdfZReU2nXyb9sn1T1VN1iaaWucyyPsG5lZQn3q7Ns5a/at065qtLwt1t6lr8t+/uMMq/0mkp71HKNcrwdW3YOpK5znXYpK4uVdZB3K3/VMXXKVZWGv93Ss/xt2d9nlHml11Tao5ZrlOPt2LJzoIk612mbsvJYeeu+W/mr9q9Tpqo0/O2WnuVvy/4+o84rzSbTH6Z8qepZ1v5N1LdOmcvKM6iRlb/quDplqkrD327pWf627O8z6rzSbDL9YcqXqp5l7d9EfeuUuaw8gxpZ+auOq1OmqjTKtk9VACmEOpipGjhEt7ybSN9Pu249w/JN4nKZlb/en2+qDspDkzmnyqdOek3Vz/JuIn0/7SbcUvkPmk6Zlb/enx80/br7Kw9N5lz3uKr96qTXVP0s7ybS99Nuwq3KtantZVb+en++qXIoXeWjyaxT5FUnrabqZ3nnSD+1Wwr7YdIos/LX+/PD5FH3GOWjydqx7nH99quTVlP1s7xzpJ/arZ9pk9vKrPz1/nzTZUntaudEv3I3Wb+pCyD7QTe9TQ2pqU6jD1sWSztHXsOWcdTjwj8I1TlcN2oe/vFNpu3nk3s+xznC+Zi+VTkfhzflfBzert+RXTwnc3w+yrTr52R4bjT9/7VMwzz7nbtt2cb5mKalwnOD83F4VwLI4e1qH5nrD98vkP+fks3725mvJxB+2NQ7arL34nyc7PbpVzrOx3469bfZZ2IXPesrpNmza4bj+HxUS3BOcj7GBDgfYyrtWde1z0dffqoCSPuA9gGanB/XH77qNM68mzTNlXYOP87HXK3Z/nw4H9O2YQ7PtCWevNSaNpymz0e1btOek3cGpS1R036cj2nbq+upde18jLXXVAWQMYDYuhQfFDp5UqQTK1+/dU2ftP3ybmKbDH1Lf76J/JRmjjwGKXuK82hcdVK+mlLUYRCzpvblfEzTlpyPac7QcZyPKvm42i+mluKzZZz16dJnJOdjuz8f7W9b7yn+rmJ/rznXcT42244EkA2ezfYfQ1UWKf5QLa8UaVWVN/d2+xBQvrH6pfzPP2VauZ2q8rNzpGq/mHHVMeF2yytFWmHa417mfEzTAnaOVKWW4hyyvFKkVVXe3Ntzno+qmyy76GjnSFX7paq75Zcqvapy59rO+ZhG2s6PqtRSnT+WX6r0qsqdazvnY3PSBJAN2eb8I9Qffs78GiLrm2y/+vXb1jfRYKN9gNp7sLlnMVWePYk2uJCzvJyP80la0s5De++XaM727VeOuttylpfzMc35qLa1c9He+7V3zjbuV44623KXtevnZD/PftvqtJW/j52H9u5vC+dT5humnXo5d1k5H9O0oJ2H9t4v1dxt3K8sw24jgBxWbsKOq3PCqshdOGmboscmnSzn4+iWnI+jG1oKnI8mMdo75+Rofv7RnJO+xnDznI/DucWO4nyMqQy2btrORwLIwc6Pidx72k7aiWwECnVOgPPxHAUzEyDA+TgBjUARegQ4J3s4WBizAOfjmBugpdkvaWm5KTYCCCCAAAIIIIAAAggggEBmAQLIzOBkhwACCCCAAAIIIIAAAgi0VYAAsq0tR7kRQAABBBBAAAEEEEAAgcwCBJCZwckOAQQQQAABBBBAAAEEEGirQM9NdFatWuUefPDBttaFciOAAAIIIIAAAggggAACCCQSOHXqlFu2rCdkdDPz3u2X5ubmnF5MCCCAAAIIIIAAAggggAAC0y2wZs0at2nTph6EngCyZwsLCCCAAAIIIIAAAggggAACCHgCXAPpYTCLAAIIIIAAAggggAACCCBQLvD/Az2iGs6aBTekAAAAAElFTkSuQmCC)
Figure 3
Source: Index Mundi
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