Financial Data and Key Metrics Changes - The company reported record Q3 silver production of 3.9 million ounces, with year-to-date production reaching 11.3 million ounces [10] - Revenues for the quarter were also at a record level, contributing to a cash flow of $140 million and a cash position exceeding $560 million [10][16] - EBITDA reached another record of $128 million, indicating strong operational performance [19] Business Line Data and Key Metrics Changes - The company is on track to meet its guidance of over 30 million silver equivalent ounces for the year, with a breakdown of 55% silver, 35% gold, and 10% lead and zinc [12] - Significant improvements were noted at the San Dimas operation, with production increasing and costs decreasing, returning to budget after previous challenges [14] - At La Encantada, a transition to sub-level caving is expected to reduce costs and enhance operations by Q1 2026 [15] Market Data and Key Metrics Changes - The company maintained a strong inventory level, holding 758,000 ounces of silver and nearly 4,000 ounces of gold, representing $50 million in potential revenue [16][17] - Marketable securities valued at $140 million as of September 30, indicating substantial liquidity [18] Company Strategy and Development Direction - The company is focused on operational efficiencies and cost reductions while continuing to explore and develop its assets, particularly at Los Gatos and Santa Elena [12][13] - Plans to increase throughput at Los Gatos to 4,000 tons per day are underway, with further guidance expected in January 2026 [12][21] - The company aims to enhance its exploration efforts, particularly at Jerritt Canyon, with updates anticipated by early 2026 [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a strong Q4 and ending 2025 positively, despite ongoing tax issues that are not viewed as material to the business [10][11] - The company is actively working with the Mexican government to resolve a long-standing tax dispute, with no significant changes expected in the near term [4][6] Other Important Information - The company has a solid dividend policy in place, with potential for increases depending on future performance [20] - Safety and sustainability performance have improved, positioning the company favorably within the mining sector [18] Q&A Session Summary Question: Are you doing any share buyback at these prices? - The company confirmed that share buybacks were conducted recently, indicating active management of capital [23]