Financial Data and Key Metrics Changes - Record silver production of 3,700,000 ounces, up 76% year over year [11] - Silver equivalent production reached 7,900,000 ounces, a 48% increase year over year [12] - Record quarterly revenue of $268 million, up 94% year over year, with a target of $1 billion in revenue for 2025 [12] - Record EBITDA of $120 million and cash flows of approximately $115 million [13] - Strong cash position with $510 million in the bank, indicating financial stability [13][39] Business Line Data and Key Metrics Changes - Exploration spending is at a record level with 255,000 meters expected to be drilled this year [15] - The company remains the purest silver producer with 55% silver content in its production [17] - Production guidance is on track to meet expectations of 31,000 to 32 million silver equivalent ounces for the year [18][22] Market Data and Key Metrics Changes - The company is experiencing volatility in silver and gold prices, impacting market perception [7] - The integration of Cerro Los Gatos is noted to be smooth, contributing positively to operational efficiency [36] Company Strategy and Development Direction - The company is focused on increasing exploration and development budgets to support growth [24] - Plans to enhance production capacity at Santa Elena and Navidad, with ongoing engineering work to optimize ore body access [26][57] - Emphasis on maintaining a strong balance sheet while exploring potential investments for 2026 [40] Management's Comments on Operating Environment and Future Outlook - Management acknowledges inflationary pressures affecting costs but expects normalization in the coming quarters [20][21] - Positive comments on the integration of Gatos and the operational improvements across the portfolio [36] - Continuous improvement in ESG scores reflects the company's commitment to sustainability [35] Other Important Information - The company is paying dividends at 1% of revenue, which will increase as revenues grow [14] - The integration of SAP at Cerro Los Gatos is expected to enhance operational controls [38] Q&A Session Summary Question: Can you walk through some of the synergies from the Gatos integration? - The integration has identified synergies such as improved reconciliation processes and lean business improvement practices [47][48] Question: What improvements are needed to sustain 4,000 tonnes per day at Cerro Los Gatos? - The plan involves accelerating mining rates and ramp development to match plant capacity [45] Question: Is First Mint up to full capacity? - Currently not at full capacity, but there are plans to increase production through additional shifts [66]

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