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Miners in Nicaragua. Yep. So good afternoon. I'm grateful for this opportunity to present our story here as in, in every presentation. Please note that I will be making forward looking statements and using some non a non ifrs measures. So here are the usual disclaimers in these presentations. For those of you who are not familiar with this with this company. We have, we are a 50 year old company. We've been producing gold in Colombia for the past 50 years and in Nicaragua for the past 10, we have been listed in the Colombia Stock Exchange for the past 30 plus years. And in Toronto for the past 2.5 years, we have a good mix of investors and we covered by analysts both in Colombia and in Toronto. So why mineros amongst other reasons? because we, we have been profitable for the past 40 years for more than 40 years. We have a diversified asset base with producing mines in Colombia and Nicaragua. We have experience in these geographies. We have a pipeline of organic opportunities to grow. We have a strong license, both in Colombia as in Nicaragua. And because we pay a dividend, we have been paying dividends for the past more than 20 years and our current dividend yield is 13% mostly because we think our stock is undervalued. So, as you can see, ah we have, we have been consistent in producing over 250,000 ounces of gold for the past five years. This year, our guidance is a bit lower because we sold an asset in Argentina. And and we're happy with it. at the end this year, our guarantee is between 210 to 230,000 ounces of gold with our all in sustaining cost and our cash cost mostly flat. We we think that our guidance is going to be met and we think we're going to meet our guidance in terms of costs in the, in the high level because we have had 22 impacts this year. One is the Colombian peso has been evaluated and that has increased our costs. And the other one is the price of gold because as we buy or from artisanal miners, the price at which we buy the gold depends on the stock on the spot price of gold. So it increases with the, when the, when the gold price goes high and all in all, it's not bad news because when the gold price goes down. Also, our costs come down. So we have like a natural hedge. I'll, I'll go into more details about how we operate in Nicaragua. Further down in the, in the presentation, as I told you, we have been producing strong financial results on, on paying dividends for more than 20 years now. more than 95 millions in the last five years. And we have a strong balance sheet. We have 20 $27 million in, in cash and our net debt is 1.9 million is almost almost zero. And we're going to end this year with negative net debt because the gold price is helping us a lot on that. Our adjusted EBITA is also very consistent. And it's grown this last quarter as compared to, to the previous year. If you do the numbers, our our abi die is about 100 and $80 million per year. And and that means that our market cap is less than two times e done. So we really are cheap as compared to our peers. Let's look at our financial results for the, for the second quarter of this year. Ok. As you can see, our EBITA grew a little bit. Our, our revenues grew by 13%. Our net profit grew at 44%. Our adjusted EBITA grew by, by 4% and our gross profit grew by one by 1%. Why? Because our costs in Pesos increased a little bit due to the fact that that the, the peso evaluated strongly and that increased our, our costs in Nicaragua. And also to due to the fact that we pay artisanal miners, a AAA percentage of the, of the gold cost, but in terms of net profit, we're growing nicely and that is a tendency that will stay in the, in the second half of this year. So we're going, we're heading for a great year and and we're very comfortable with the results of our, of our operations. This is the the first half of the year. The same factors were influencing revenue, cost of sales and grow profit. The only factor that makes a difference between this year and the previous year is that last year in the first half, we received $4.9 million insurance payment because one of our treasures sank due to a tropical storm. So comparing the, the numbers between the first half of 2023 and 2024 we have to take that into account and mostly what these numbers show is that Minos is a very consistent company. OK? In terms of production, you see the same production, it's oscillates between 50,000 and 62,000 quarter by quarter. And with the current numbers, what you see there is that both all in sustaining costs and, and cash cost grew by 24% is the same factor that I already mentioned. And gold produce has lowered a little bit due to the fact that we are in a not so rich area in Colombia this year. And we, because the way the alluvial operation works, we have to, we have to get the gold of an area because and as our dredges move north, we have to undertake the closure of the mine. I'll go into more details on that, but still with a little bit less production, we're still very, very solid and very, very profitable. Ok. Let's talk about our operations in Colombia. We operate an alluvial mine. We know that alluvial operations raise some questions so we might as well address them. One of them is how predictable an operation like this can be and the other one is the environmental impact. So let's talk about how predictable it is. We operate this mine as if, as if it is an an open pit, we drill holes every 50 m. We build AAA model and a, a mining plant and we know where our DRS are going to be in the next 10 years. We have certified resources reserves proven and, and, and and probable of 1.1 million ounces and resources of 1.3 million ounces in this operation in niche. We have been profitable year after year and we have met our guidance year after year. How do we operate when we're going to enter an area? We, we move plants and animals from that area and we, we, we send them to nurseries in the case of plants and we move animals to areas that we have separate. We have identified previously so they can, they can re establish there. Ok. We do all the dredging. We have 20 nine, we have 19 dredges out of which five are, are are bucket dredges. We operate separated from the river. We create like an artificial pond and we do all the separation using our dredges there. We we, we move the barren the barren part which is the 1st 10 m apart. Do all the separation, fly the rich sands by helicopter to our lab and do the final separation in our lab. As our dredgers move north, we level the ground, bring in families and recover the land either for cattle farming or for agriculture. So that's the reason we have to, we have to take all the gold out using only water. and we can't go back because most of the mine has already been closed. We have a 36,000 hectares land package there in Colombia and we have 10 more years of life. Life of mine there. As you can see our all in sustaining cost have grown a little bit during the past year. That is mostly because we have more environmental conditions to comply. But still we have a very profitable operation in Colombia. Very mature with a strong social license. OK. This is the cycle of our alluvial operation. We do exploration production in closed ponds. We store organics for rehab, store grave for rehab and rep profile for closure. And we, when we close, we, we leave wetlands, small holdings and other activities for people to have AAA good standard of life. We do beekeeping reforestation. We plant crops like rubber and, and cocoa and, and we have physi physical culture as well in the region where we operate. Nowadays, we know that when you get into a territory, you're not asked what you do. You ask why are you here? We know that we generate environmental, social and social and economic costs. But we can prove to people that we're going to generate environmental, social and economic benefits that will compensate greatly for the costs. And we are fulfilling that both in Colombia and in Nicaragua. And because of that, we have a very strong social license. Let's move on to Nicaragua. When we bought Nicaragua. What happened in Nicaragua was that after the revolution, the mines were nationalized and given to artisanal miners and of course they went bankrupt. And when, when the government privatized those operations in the law, it says that you have to allow artisanal miners to operate in your land package in at least 1% of it. So instead of seeing that as a drug, we saw it as an opportunity. We have them organizing co ops. Now they pay taxes. we, if we're giving them training in, in safety procedures, we have a life and accident insurance in place device for them and their live, their livelihood has changed greatly. We have 15 of those units, artisanal units organizing about 12 co ops in a model that we call the Bonanza model in which not only the artisanal miners and the company participate, but also the government. So most decisions are made between the three parties in this Bonanza model. And we have made a lot of investments to build trust with these people. All the sampling is made automatic, all the essays are made with them being able to watch what, what we are doing and we pay them much more than they can get from an artisanal meal because our recoveries are above 90%. So it's a win win relationship with them. And we have been a lot of trust with them. OK? And for growth in Nicaragua, we have a project that is called Porvenir. We finished a pre visibility study and published it in 2023. we did the, the numbers with $15,000 per ounce and our sensibility with 1650 the numbers were OK with those with those prices. So it's really way better now. It's looking way better. Now. We're working both in exploration and met in, in metallurgy, metallurgy to improve this, this, this project we're working on it. We hope to give some news to the market by the end of this year at the beginning of the next. But this project is competing with other opportunities we're also looking for in organic growth. So this project has to compete with those other opportunities. It's a polymetallic mineral. We need to find the way to export zinc concentrate in Nicaragua. That's one of the challenges we're facing. But the project is looking really interesting right now. We only, we, we, we have not only that project in Nicaragua, we have a big land package over 100 and 50,000 hectares in Nicaragua. And we're only starting to explore that land package. We have new targets like like Guillermina and Baba Itta. We have a target, an interesting target called Luna Roja. So we have plenty of opportunities for growth in Nicaragua. What we want to do in Nicaragua is grow to a situation in which 50% of our mineral is produced with our, with our 50% of our Dore is produced with our own mineral and 50% from artisanal miners. We don't want to get to get out of the artisanal toll milling business because it's very profitable and gives us both a natural hedge and and social license. As, as I, as I told you before, we have a long standing committing commitment to ESG we think that the, that's the only way to get a strong social license. And we live by that in Colombia and in Nicaragua, we spend money in the regions where we operate, we generate employment, we, we make sure that people perceive us as a good neighbor in those regions. Our board of directors ha has changed greatly during, during the last year. Sun Valley investment bought 25 close to 25% of Mineros and three new members came on board. They know about mining and we were very happy with the, with with the arrival of these 23 new members and out of their traditional shareholders of Mineros, three board members also changed. So we have a brand new board is very active, is very interested in, in, in helping us grow the company. And and so far, what we're doing is both developing our organic opportunities and looking for opportunities to grow inorganically last but not least, we have a, a team with proven experience in mining in Latin America. We have Santiago Cardona who has been with us for more than 20 years. I and I think he's the guy who knows most, most about alluvial mining in, in the world. And Isabel Gaviria is our VP of legal and and sustainability. Alan W is our CFO all this team has more than 25 years, more than 20 years working with the company. So this is Mineros at a glimpse and we have like three minutes for questions if you have any questions. Thank you. Any questions from the floor that artisanal setup that you have with the with the miners there is that based off of spot prices or is that in very simple words, the the alternative they have is to sell their or to an artisanal mill. And the recoveries in artisanal mill are about 60%. So they have to split with the owner of the mill. Our recoveries are above 90% and we are capable of paying them between 40 45% of the gold content of their, of their or so, what have we done so far? We, we knew that we needed to build trust with them. So we built an automatic facility to do the sampling. They just bring the ore and the sampling is done automatically and we get out four bags. They keep one for them. We send two to the lab and they have their own people. Checking how do the essay I, in one day, we give them the content of the content of gold and if they want to sell their ore to us, they just say it. And then we, we move this ore to our plant. If they don't, they can take it away and sell it somewhere., in the, in the 10 years that we've been there, we have been able to build a very strong relationship with them. And,, it's a relationship be based on, on showing them the benefits of, of paying attention to what we say because they can, they can sell their art to someone else, we can't force them. So we have the government there. And for example, we decided we wanted to have them insured. And there was no such insurance in Nicaragua didn't exist. So we got in touch with in IE and they designed an insurance specifically for these minors. Now they have their own ESG program as well. We give them trees and they plant them. So they're becoming more and more like small scale miners. We have now something in, in, in Nicaragua that is called Mas, which is Unidad is the Peya mine artesanal like units of small artisanal mining to show them that they can work in a like in a, in a better way. It's gradual. The, the, the way we pay them depends on the grade of the, of the mineral they bring us. If the mineral has higher grades, they get a, a bigger percentage because it's more efficient for us to process. If the mineral has a lower grade, they get a lower percentage. Sometimes what they do if they're not happy with the grade of the mineral they bring is they take it away, look for richer mineral and bring it, bring a mix that will work for them and for us. Ok? We've got 20 seconds left if there's any other questions. Oh, perfect. Thank you very much, Andres. Thank you. Good. Next up, we have Doug Ramshaw, president and director of Minera Alamos. Minera Alamos has some existing production which is in ramp up at Santana with strong inorganic growth from two further assets in Mexico. That's all right. And what could be helpful for the audience is to talk about me. I just given the