Financial Data and Key Metrics Changes - In Q3 2025, the company generated net income of $30.7 million or $0.18 per share, which includes $4.5 million for pre-tax Maui wildfire-related expenses [11] - Consolidated core net income was $32.8 million or $0.19 per share, compared to $32.7 million or $0.29 per share in Q3 2024 [11] - Utility core net income decreased to $39.6 million from $43.7 million in Q3 2024, driven by lower tax benefits and higher expenses [11] Business Line Data and Key Metrics Changes - The holding company reported a core net loss of $6.8 million, improved from a loss of $10.9 million in Q3 2024, due to lower interest expenses and higher interest income [11] - The utility's operational risk profile has improved significantly since the 2023 Maui wildfires, with enhanced wildfire safety measures implemented [9] Market Data and Key Metrics Changes - As of the end of Q3 2025, the holding company had approximately $40 million and the utility had $504 million of unrestricted cash on hand [12] - The utility has approximately $544 million of liquidity available under its accounts receivable facility and credit facility capacity [13] Company Strategy and Development Direction - The company is focused on improving financial strength and resilience, implementing wildfire safety improvements, and preparing for a successful second multi-year rate period under the performance-based regulation framework [4][5] - Capital expenditures (CapEx) are projected to increase significantly, with expectations of $400 million in 2025 and $550 million to $700 million in 2026, aimed at reducing wildfire risk and increasing reliability [15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing implementation of the Maui wildfire tort litigation settlement and the progress made in enhancing operational safety [10] - The company is awaiting PUC approval for its utility wildfire safety strategy and is working through the rate rebasing process [15] Other Important Information - The company completed a $500 million unsecured debt offering in September 2025, enhancing liquidity and access to capital markets [13] - The first payment related to the tort litigation settlement is expected no sooner than early 2026, with $479 million held in a subsidiary for this purpose [14] Q&A Session Summary Question: How should we think about the revenue requirement and timing under the alternative rebasing filing? - Management indicated that discussions with PBR parties are underway, with a proposal due to the PUC on January 7, 2026, and a potential test year rate case if the proposal is unsuccessful [18][19] Question: What is the sustainable cadence of utility to hold co-dividends through the settlement years? - Management stated that utility dividends to the holding company have been set based on the needs of the holding company and do not foresee changes in the near future [21] Question: How do you think about earnings guidance and EPS? - Management noted it is too soon to provide earnings guidance, as they want to wait until after the final settlement approval process [24]

HEI 3Q 2025 Financial Results November 7, 2025 Non-GAAP Financial Information See Appendix for definition of Core Earnings and Core EPS. 2 Continued Progress on Key Strategic Goals Advancing Our Strategy and Laying the Foundation for Sustainable Growth Continuously Improving Utility Safety Profile Moving forward with operational risk profile that's greatly improved since the 2023 Maui wildfires. 2025 - 2027 Wildfire Safety Strategy awaits PUC approval. Tort Litigation Settlement Agreement Progressing as Exp ...

Financial Data and Key Metrics Changes - The company reported same-store NOI growth of 16.4% across the total portfolio, marking the seventh consecutive quarter of double-digit same-store NOI growth [7] - Normalized funds from operation (NFFO) reached $0.44 per fully diluted share in Q3, reflecting a 22% year-over-year increase [22] - The company increased its full-year 2025 NFFO guidance to a range of $1.69-$1.72 per fully diluted share, implying growth in excess of 20% year-over-year at the midpoint [23] - Net debt to EBITDA improved to 3.5x, representing a 0.2-time improvement from the previous quarter and a 1.6-time improvement from Q3 2024 [25] Business Line Data and Key Metrics Changes - Trilogy's same-store NOI grew 21.7% year-over-year, with occupancy averaging 90.2% in Q3, up more than 270 basis points from last year [12] - Shop segment same-store NOI increased 25.3%, with revPOR up 5.6% year-over-year and NOI margins expanding nearly 300 basis points to 21.5% [14] - Integrated senior health campuses' same-store NOI growth guidance was increased to a range of 17%-20% [23] Market Data and Key Metrics Changes - Medicare Advantage accounted for 7.2% of total resident days at Trilogy during Q3, up from 5.8% a year ago, indicating a shift towards higher reimbursement sources [13] - Construction starts across senior housing remain near historic lows, while demographic growth in the 80+ cohort accelerates, supporting a multi-year runway for further occupancy gains [15] Company Strategy and Development Direction - The company is focused on building durable long-term growth through operating alignment with best-in-class regional operators and disciplined capital allocation [10] - The company has closed over $575 million in acquisitions year-to-date, with a pipeline of awarded deals standing at well over $450 million [9][20] - The inaugural corporate responsibility report was published, reflecting the company's commitment to governance, social, and sustainability priorities [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the current operating environment for long-term care, citing strong demand tailwinds and positive occupancy trends [8] - The company expects to maintain occupancy gains achieved through the busy spring and summer selling season, despite entering a historically slower winter season [12] - Management anticipates continued pricing power, expecting to price at a rate higher than inflation [31] Other Important Information - The company executed $13 million of non-core dispositions, concentrating capital within its operating portfolio [19] - The company is leveraging Trilogy's centralized revenue management system across other operating partners to optimize revenue [16] Q&A Session Summary Question: What is the maximum occupancy upside from 90%? - Management indicated that the maximum upside from 90% to 100% is 10%, with expectations for metrics to continue moving in their favor due to supply-demand fundamentals [29] Question: How competitive is the current market for acquisitions? - Management noted that while there are more assets coming to market, the competition is not overly intense, with many deals being brought through operating partners [32][80] Question: Can you discuss the acquisition strategy regarding independent living versus assisted living? - Management stated that the strategy encompasses all types, focusing on quality buildings that provide good earnings growth, with a preference for newer products [87]

Financial Data and Key Metrics Changes - The company reported same-store NOI growth of 16.4% across the total portfolio, marking the seventh consecutive quarter of double-digit same-store NOI growth [7] - Normalized funds from operation (NFFO) reached $0.44 per fully diluted share in Q3, reflecting a 22% year-over-year increase [22] - The company increased its full-year 2025 NFFO guidance to a range of $1.69-$1.72 per fully diluted share, implying growth in excess of 20% year-over-year at the midpoint [23] - Net debt to EBITDA improved to 3.5 times, representing a 0.2-time improvement from the previous quarter and a 1.6-time improvement from Q3 2024 [25] Business Line Data and Key Metrics Changes - Within the Trilogy segment, same-store NOI grew 21.7% year-over-year, with occupancy averaging 90.2% in Q3, up more than 270 basis points from last year [12] - The shop segment reported same-store NOI growth of 25.3%, with revPOR up 5.6% year-over-year and NOI margins expanding nearly 300 basis points to 21.5% [14] - The integrated senior health campuses segment increased its same-store NOI growth guidance to a range of 17%-20% [23] Market Data and Key Metrics Changes - Medicare Advantage accounted for 7.2% of total resident days at Trilogy during Q3, up from 5.8% a year ago, indicating a shift towards higher reimbursement sources [13] - Construction starts across senior housing remain near historic lows, while demographic growth in the 80-plus cohort accelerates, supporting a multi-year runway for further occupancy gains [15] Company Strategy and Development Direction - The company is focused on building durable long-term growth through operating alignment with best-in-class regional operators and disciplined capital allocation [10] - The company has closed over $575 million in acquisitions year-to-date, with a pipeline of awarded deals standing at well over $450 million [9][20] - The inaugural corporate responsibility report was published, reflecting the company's commitment to governance, social, and sustainability priorities [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the current operating environment for long-term care, citing strong demand tailwinds and the quality of their portfolio [8] - The company expects to maintain occupancy gains achieved through the busy spring and summer selling season, despite entering a historically slower winter season [12] - Management anticipates continued pricing power, expecting to price at a rate higher than inflation [31] Other Important Information - The company executed $13 million of non-core dispositions, concentrating capital within its operating portfolio [19] - The development pipeline consists of projects with a total expected cost of roughly $177 million, with approximately $52 million spent to date [20] Q&A Session Summary Question: What is the maximum occupancy upside from 90%? - Management indicated that the maximum upside from 90% to 100% is 10%, but future occupancy trends will depend on supply-demand fundamentals [29] Question: Can you discuss the competitive environment for acquisitions? - Management noted that while there are more assets coming to market, the competitive landscape remains manageable, with many deals being off-market [33][34] Question: What is the strategy regarding the MOB portfolio? - The company has been divesting MOBs, focusing on growing the RIDEA side of the business, and expects to continue redirecting cash into senior housing [70] Question: How is Trilogy leveraging its revenue management system? - Trilogy is utilizing its revenue management system to optimize operations and is in pilot phases with other operators to extend this tool [53] Question: What is the acquisition strategy moving forward? - The company is targeting a mix of independent living, assisted living, and memory care, focusing on quality buildings that will provide good earnings growth [90]

Financial Data and Key Metrics Changes - The company reported same-store NOI growth of 16.4% across the total portfolio, marking the seventh consecutive quarter of double-digit same-store NOI growth [6][9] - Normalized funds from operation (NFFO) reached $0.44 per fully diluted share, reflecting a 22% year-over-year increase [22] - The company increased its full-year 2025 NFFO guidance to a range of $1.69-$1.72 per fully diluted share, implying growth in excess of 20% year-over-year at the midpoint [23][24] - Net debt to EBITDA improved to 3.5 times, representing a 0.2-time improvement from the previous quarter and a 1.6-time improvement from Q3 2024 [25] Business Line Data and Key Metrics Changes - Trilogy's same-store NOI grew 21.7% year-over-year, with occupancy averaging 90.2% in Q3, up more than 270 basis points from last year [11][12] - The shop segment reported same-store NOI growth of 25.3%, with revPOR up 5.6% year-over-year and NOI margins expanding nearly 300 basis points to 21.5% [13] - Medicare Advantage accounted for 7.2% of total resident days at Trilogy during Q3, an increase from 5.8% a year ago [12] Market Data and Key Metrics Changes - The company closed on over $575 million of acquisitions year-to-date, all within its REIT DEA segments [7][17] - The awarded deal pipeline now stands at over $450 million, expected to close in Q4 2025 and early 2026 [9][19] - Construction starts across senior housing remain near historic lows, while demographic growth in the 80-plus cohort accelerates [14] Company Strategy and Development Direction - The company is focused on building durable long-term growth through operating alignment with best-in-class regional operators and disciplined capital allocation [9][25] - The inaugural corporate responsibility report was published, reflecting the company's governance, social, and sustainability priorities [10] - The company is leveraging Trilogy's centralized revenue management system across other operating partners to optimize revenue [15][47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the current operating environment for long-term care, citing strong demand tailwinds [6][7] - The company expects to maintain occupancy gains achieved through the busier spring and summer selling season, despite entering a historically slower winter season [11][14] - Management anticipates continued pricing power, expecting to price at a rate higher than inflation [30] Other Important Information - The company executed $13 million of non-core dispositions during the quarter, concentrating capital within its operating portfolio [18] - The in-process development pipeline consists of projects with a total expected cost of roughly $177 million, with approximately $52 million spent to date [19] Q&A Session Summary Question: What is the maximum occupancy upside from 90%? - Management indicated that the maximum upside from 90% to 100% is 10%, but future occupancy trends are uncertain due to supply-demand fundamentals [28][29] Question: How competitive is the current market for acquisitions? - Management noted that while there are more assets coming to market, competition is mixed, with both REITs and non-REIT competitors involved [32][33] Question: Can you discuss the acquisition strategy regarding independent living versus assisted living? - The company targets a mix of independent living, assisted living, and memory care, focusing on quality buildings that provide good earnings growth [80][81]

Financial Data and Key Metrics Changes - In Q3 2025, the company produced 1.8 million ounces of silver and 7,300 ounces of gold, totaling approximately 3 million silver equivalent ounces, representing an 88% increase compared to Q3 2024 [3] - Revenue for the quarter was reported at $111 million, a 109% increase year-over-year, driven by higher precious metal prices and increased production [3] - Mine operating cash flow before working capital changes rose by 102%, while cash costs increased to $18 per payable silver ounce [4] - The company reported a net loss of $37.5 million for the period, primarily due to a loss on derivative contracts of $39 million [5] Business Line Data and Key Metrics Changes - Colpa produced 1.3 million silver equivalent ounces in Q3 2025, continuing to align with historical performance benchmarks [8] - All-in sustaining costs increased to $30.53 per ounce, net of byproduct credits, due to elevated exploration and initial capital investments [4] - Terronera experienced a mine operating loss of $3.6 million during the commissioning period, but has since reached commercial production [5][6] Market Data and Key Metrics Changes - The average silver price during the quarter was $38, with expectations for Q4 to be around $48 [57] - The company is experiencing higher costs due to inflation and operational challenges, including reliance on diesel generators while awaiting LNG permits [59] Company Strategy and Development Direction - The company aims to optimize operations at Terronera and expects to refine processes to improve throughput and recoveries [6] - Management is focused on advancing the Pitarrilla project, with plans to upgrade inferred resources to indicated and publish a feasibility study by mid-2026 [9] - The integration of the Colpa acquisition is progressing smoothly, with ongoing exploration to validate historical resource estimates [8] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving free cash flow in Q4 2025, contingent on operational efficiencies at Terronera [57] - The company is evaluating refinancing options for its project loan facility now that Terronera is in commercial production [30] - Management acknowledged the volatility in the market due to derivative liabilities but remains focused on long-term growth and shareholder value [78] Other Important Information - The company incurred $1.5 million in exploration expenses in Q3 2025 as part of its commitment to validate historical resources at Colpa [8] - The company has room for about 60,000 tons of stockpile at Terronera, with plans to increase throughput to 2,500 tons per day [24][9] Q&A Session Summary Question: What has been seen with Colpa versus expectations? - Management noted throughput is above 2,000 tons per day, but grades were slightly lower than expected. Community and labor relations are strong, and exploration results have been positive [14][15] Question: Update on Terronera's performance in October? - Management reported steady performance with no significant events, focusing on refining and optimizing plant operations [28][29] Question: Update on balance sheet and ATM usage? - The company has not used the ATM in the past month and is evaluating refinancing options for the project finance facility [30] Question: Clarification on CapEx spending? - Management indicated that CapEx spending would be consistent, with no significant catch-up expected in Q4 [37] Question: How critical is development at Guanacevi? - Sustaining capital is essential for maintaining production levels, and the company is on track with its development plans [49] Question: When can positive free cash flow be expected? - Management expects to achieve free cash flow in Q4 2025, driven by operational improvements at Terronera [57] Question: Will capital return policies be discussed soon? - Management indicated that cash flow from Terronera will be reinvested into Pitarrilla before considering capital returns to shareholders [62][63] Question: What is the exposure to derivative liabilities going forward? - Management clarified that they are not interested in entering new gold hedges and will focus on producing and delivering into existing contracts [82]

Summary of Praxis Precision Medicines Fireside Chat Company Overview - **Company**: Praxis Precision Medicines (NasdaqGS:PRAX) - **Focus**: Development of treatments for epilepsy, specifically targeting SCN2A and SCN8A disorders Key Points and Arguments 1. Relutrigine Development - **Overlooked Asset**: Relutrigine is considered significantly undervalued by the market, with potential to justify the company's valuation [2][19] - **Accelerated Pathway**: The company is exploring an accelerated pathway for Relutrigine, with Breakthrough Therapy Designation from the FDA [2][4] - **Cohort Design**: The design of the Evolve study has been robust, showing strong effects and leading to FDA engagement for potential acceleration [5][6][24] - **Interim Analysis**: The interim analysis is designed to maximize the chance of success, allowing for a quicker NDA submission [8][25] 2. Market Opportunity - **Multi-Billion Dollar Potential**: The market opportunity for SCN2A and SCN8A is projected to be multi-billion dollars, with accelerated timelines for approval [9][12][26] - **Pediatric Review Voucher**: The potential for a pediatric review voucher is acknowledged as a non-dilutive capital opportunity, although its importance is debated [8][26] 3. Emerald Study - **Emerald Population**: The strategy for the Emerald study is to finalize it in conjunction with the Evolve study, which is expected to accelerate the overall approval timeline [12][28] - **Enrollment Timeline**: Enrollment for the Emerald study is on track, with expectations to file for SNDA by early 2027 [59] 4. Statistical Analysis - **P-Value Significance**: The updated data from the first cohort showed a small P-value, indicating strong statistical significance in seizure reduction [30][34] - **ANCOVA Model**: The analysis will utilize an ANCOVA model to account for baseline seizure counts and other covariates [36][34] 5. Competitive Landscape - **Faster Enrollment**: Praxis is experiencing faster enrollment compared to competitors, attributed to targeted recruitment strategies and understanding patient needs [61][64] - **Commercial Launch Preparation**: Insights gained during clinical trials are expected to enhance the commercial launch strategy [66] 6. Pricing Strategy - **Pricing Philosophy**: The company plans to price Relutrigine based on its initial indication (SCN2A and SCN8A) rather than future broader indications [69][70] - **Market Justification**: The potential market for SCN2A is estimated to be between $500 million to $1 billion, with a clear rationale for pricing in the rare disease space [71][72] 7. Ulixacaltamide Update - **Pre-NDA Meeting**: The upcoming pre-NDA meeting is seen as a critical step in confirming the appropriateness of the filing package [75][78] - **Breakthrough Designation Consideration**: The company is open to applying for breakthrough designation if it aligns with their strategic goals [79] Additional Important Insights - **Patient Need**: There is a strong emphasis on the unmet need for effective treatments in the targeted patient populations, which drives the urgency for market entry [45][57] - **Regulatory Engagement**: Continuous dialogue with the FDA is highlighted as essential for navigating the approval process effectively [24][40] This summary encapsulates the critical discussions and insights from the Praxis Precision Medicines fireside chat, focusing on the development of Relutrigine and the broader strategic direction of the company.

Financial Data and Key Metrics Changes - The company reported approximately $136 million in quarterly adjusted EBITDA, an increase from $107 million in the same period last year [3][10] - Full-year EBITDA midpoint guidance has been raised to the upper end of the range between $500 million and $520 million [3][12] - Distributable cash flow, as adjusted, totaled $74 million, with a coverage ratio of approximately 1.24x [10] Business Line Data and Key Metrics Changes - Adjusted EBITDA for the gathering and processing segment was $83 million, up from $55 million in the third quarter of 2024, primarily due to the acquisition of H2O and Gravity [10] - Wholesale marketing and terminaling adjusted EBITDA was $21 million, down from $25 million in the prior year [10] - Storage and transportation adjusted EBITDA remained stable at $19 million compared to the third quarter of 2024 [11] - Investments in the pipeline joint venture segment contributed $22 million this quarter, up from $16 million in the third quarter of 2024 [11] Market Data and Key Metrics Changes - The company noted strong operations in crude and water gathering segments, with record volumes for DDG in the third quarter [4][8] - The competitive position in both Midland and Delaware Basins is increasing due to recent acquisitions and operational improvements [4] Company Strategy and Development Direction - The company aims to become a strong, independent, full-suite midstream service provider, focusing on prudent management of leverage and coverage [4][5] - The successful commissioning of the Libby 2 plant and ongoing efforts in acid gas injection and sour gas handling are key strategic initiatives [3][6] - The company plans to continue optimizing synergies and realizing EBITDA uplift from recent acquisitions [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the earnings trajectory and the ability to meet increased demand for sour gas capabilities [18][32] - The company is optimistic about future expansion opportunities and plans to provide detailed guidance in the next earnings call [20][32] Other Important Information - The Board of Directors approved a 51st consecutive increase in the quarterly distribution to $1.12 per unit [4] - Capital expenditures for the third quarter were approximately $50 million, with $44 million allocated to growth projects [11] Q&A Session Summary Question: Inquiry about producers' increasing activity on acreage ahead of Libby 2 - Management noted strong performance in crude and water, with no material change in drilling activity on their acreage [16][17] Question: Follow-up on CapEx and future flexibility - Management indicated that planning for next year is ongoing and further guidance will be provided in the next earnings call [20] Question: Discussion on equity income performance - The strong performance was attributed to the Wink to Webster joint venture, with expectations for sustainable results going forward [28] Question: Inquiry about the water landscape and competition - Management highlighted the successful timing of acquisitions and the challenges in permitting new facilities in the Delaware Basin [30] Question: Clarification on Libby 3 expansion timing and AGI disposal - Management confirmed that market demand for sour capabilities is strong and that detailed plans will be shared after the planning session [32][34]

Financial Data and Key Metrics Changes - The company reported approximately $136 million in quarterly adjusted EBITDA, an increase from $107 million in the same period last year [3][10] - Full-year EBITDA midpoint guidance has been raised to the upper end of the range, now expected between $500 million and $520 million [3][12] - Distributable cash flow, as adjusted, totaled $74 million, with a coverage ratio of approximately 1.24 times [10] Business Line Data and Key Metrics Changes - Adjusted EBITDA for the gathering and processing segment was $83 million, up from $55 million in the third quarter of 2024, primarily due to the acquisition of H2O and Gravity [10] - Wholesale marketing and terminaling adjusted EBITDA decreased to $21 million from $25 million in the prior year [10] - Storage and transportation adjusted EBITDA remained stable at $19 million compared to the third quarter of 2024 [11] Market Data and Key Metrics Changes - Crude gathering operations had a record third quarter, with strong performance continuing into the fourth quarter [4][8] - The company is seeing solid operations in both crude and water gathering segments, enhancing its competitive position in the Midland and Delaware Basins [4][8] Company Strategy and Development Direction - The company aims to become a strong, independent, full-suite midstream service provider, focusing on prudent management of leverage and coverage while seizing growth opportunities [4][5] - The successful commissioning of the Libby 2 plant and ongoing efforts in acid gas injection and sour gas handling are key initiatives to improve operational capacity [3][6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the earnings trajectory and the ability to capture full value from recent investments, including optimizing synergies from acquisitions [9][12] - The company is well-positioned to meet market demands for sour gas and water treatment, indicating a strong growth runway in the Delaware Basin [18][32] Other Important Information - The Board of Directors approved a 51st consecutive increase in the quarterly distribution to $1.12 per unit, reflecting the company's financial prudence and strong performance [4][5] - Capital expenditures for the third quarter were approximately $50 million, with $44 million allocated to growth projects, including the Libby 2 gas processing plant [11] Q&A Session Summary Question: Expansion on producers' increasing activity on acreage ahead of Libby 2 - Management noted that while drilling activity has not materially changed, there are increasing synergies between different streams being managed [16][17] Question: CapEx trends for 2026 and flexibility for debt repayment or unit buybacks - Management indicated that planning for next year is ongoing, with further guidance expected in the next earnings call [20] Question: Performance of equity investments and sustainability of current run rate - Strong performance in the Wink to Webster joint venture was highlighted, with expectations for a good run rate going forward [28] Question: Water landscape and competition - Management acknowledged a favorable position in the market due to timely acquisitions and noted challenges in permitting new facilities in the Delaware Basin [30] Question: Timing for Libby 3 expansion and AGI disposal capabilities - Management confirmed that market demand for sour capabilities is strong, and detailed plans will be shared after the planning session [32][34]

Financial Data and Key Metrics Changes - The company reported revenues of $83 million for Q2 2026, a 23% increase from the previous year, marking the second highest quarter ever [2] - Cash flow from operating activities was $39 million, up 69% year-over-year, driven by a 28% increase in realized silver prices and a 37% increase in gold prices [3] - Net income for the quarter was negative $11.5 million, down from positive $17.8 million in Q2 of fiscal 2025, primarily due to a $53 million non-cash charge on derivative liabilities [3][4] - Adjusted net income was $22.6 million, or $0.10 per share, compared to $17.7 million, or $0.09 per share in the same quarter last year [4] - The company generated $11 million in free cash flow, supporting a strong cash position of $382 million [4] Business Line Data and Key Metrics Changes - Silver accounted for approximately 67% of net Q2 revenue, followed by lead at 16% and gold at 7% [3] - The amount of gold sold increased by 64% compared to last year, while silver production remained flat [5] - Consolidated mining operating income was $40.8 million in Q2, with the Ying mine contributing over 93% of that total [8] Market Data and Key Metrics Changes - Year-to-date production showed increases in silver (3%), gold (78%), and lead (4%), while zinc production decreased by 11% [6] - Production costs at the Ying mine averaged $83 per ton, down 11% from last year, while cash cost per ounce of silver was $0.97, up from $0.62 in the prior year [7] Company Strategy and Development Direction - The company is focused on increasing mechanization at the Ying mine and expanding mining capacity across its licenses [8] - Significant investments were made in growth projects, including $6 million for ramp and tunnel development at Ying [8] - Construction at the El Domo project in Ecuador is progressing, with a 250% increase in material cut for site preparation compared to the previous quarter [10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that construction at El Domo was initially slower due to weather conditions but has ramped up significantly in recent months [14] - The company expects to provide updates on construction progress and metallurgical testing results before year-end [14] - There is a focus on catching up production at the Ying mine in Q3 to align with guidance, despite previous setbacks [16][18] Other Important Information - The company participated in New Pacific Metals' equity financing, acquiring 3 million common shares for approximately $7.8 million [5] - The first draw on a $175.5 million streaming facility for the El Domo project was made, amounting to $43.9 million [5] Q&A Session Summary Question: Update on El Domo capital expenditures - Management indicated that capital spending was initially slower but has ramped up significantly in recent months, with updates expected soon [14] Question: Thoughts on Wheaton drawdown and potential negotiations - Management noted that renegotiating the stream with Wheaton did not make sense based on current market conditions [15] Question: Guidance for Ying mine production - Management confirmed that the Ying mine is in transition, with expectations for a strong catch-up quarter in Q3 [16][18]