Good morning and welcome to Andean Precious Metals Corp Second Quarter 2025 Results Conference Call. As a reminder, all participants are in listener mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press * then 1 on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing * then 0. I would now like to turn the conference over to Amanda Mallough, Director of Investor Relations. Please go ahead. Thank you, Operator, and good morning, everyone. Before we get started, I would like to point out that during today's call, we may make forward-looking statements as defined under the Canadian Securities Law. I ask that you view our slide presentation for cautionary language regarding forward-looking statements and the risk factors pertaining to these statements. Our press release, MD&A, and financial statements are available on both SEDAR+ and on our corporate website, AndeanPM.com. With us on today's webcast is Alberto Morales, Andean's Executive Chairman and CEO, Yohann Bouchard, Andean's President, Juan Carlos Sandoval, our Chief Financial Officer, and Dom Kizek, our VP of Finance. Following management's formal remarks, we will open the call to questions, and with that, I'll turn the call over to Alberto. Thank you, Amanda, and good morning, everyone. I am pleased to report that Andean delivered another strong quarter operationally and financially. We delivered record quarterly revenues of $73.7 million, supported by stronger realized metal prices and steady performance at both of our operations. Adjusted EBITDA rose to $28.9 million, the highest in the company's history, while net income essentially doubled year -over -year to $17.4 million or $0.12 per share. Our balance sheet strengthened significantly during the quarter. Leveraging on our strong cash position, we made the strategic decision to fully repay all outstanding amounts under our revolving credit facility, reducing total debt and ending the quarter with $87.3 million in liquid assets. The $25 million revolving line of credit remains fully available, giving us significant additional financial flexibility. Operationally, San Bartolome delivered solid results with improved margins. On the back of strong silver prices, continued favorable foreign exchange rates, and steady plant recoveries, we have revised our 2025 margin metrics upwards for cash gross operating margin and gross margin ratio. San Bartolome remains on track to meet full-year guidance. Golden Queen also remains on track to meet full-year guidance, with production expected to ramp up in the second half, supported by key capital projects completed during the quarter. We continue to advance our organic growth strategy. Exploration drilling at Golden Queen is still ongoing, following the encouraging results released in May, and we see strong potential to extend mine life through near mine and regional targets. We expect to provide an update on results to the market in Q4. It was a strong first half of the year, and we believe the momentum we have built sets up well for the remainder of the year 2025. With that, I will now turn it over to Yohann to walk you through the operational results in more detail. Thank you, Alberto. Let me start with consolidated production, which totaled 24,341 GEO in Q2. As previously guided, production will be weighted toward the second half of the year and will remain on track to meet full-year targets. At San Bartolome, we produced 12,128 GEO during the quarter. Our cash gross operating margin improved to $13.89 per oz, benefiting from higher silver price, stable recoveries, and foreign exchange rate. The gross margin ratio improved to 45.9%, up from 20% in Q2 last year. The processing rate averaged 110,000 tons per month in Q2, with a steady recovery of 83%. As a result, we're pleased to have increased our cash gross operating margin and gross margin ratio full-year guidance, reflecting the operation's solid cost control performance, the most favorable foreign exchange rate and metal prices than initially anticipated. We expect this trend to continue for the remainder of the year. Following the exclusive long-term purchase agreement of 7 million ton announcement, the company is collaborating with COMIBOL to obtain the required environmental permits and social licenses and to prepare the respective mines to begin operations. The company anticipates first order in the second half of 2026. The agreement provides the company with additional prospective upside deposits that will increase our sourcing for the year to come and ultimately leverage processing capacity, which is currently underutilized. Switching over to Golden Queen, we produced 12,213 GEO in Q2, while lower year -over -year. This was expected due to the mine sequencing and the early chain schedule. During Q2, gold in inventory on the leach pad increased due to the improved stacking performance. Gold in inventory is anticipated to decrease in the upcoming quarters when the extra tons stacked will commence reporting to the mineral drill process. Key capital projects were completed during the quarter. Improvements to the main haul road were completed early June, reducing hauling distances and cycle time, and it's expected to improve the fleet productivity, resulting in lower unit costs going forward. The e-fleet pad stacker was replaced with a 158 ft telescopic Superior TeleStacker with automated capacity. Two additional 115 ft Superior Grasshopper and 160-foot Superior indexing Conveyor were purchased in Q2. Costs at Golden Queen are trending well, with a cash cost of $1,717 per ounce, which is in the range of the guidance, and an all-in sustaining cost of $2,245 per oz, slightly above guidance due to the timing of capital investments. We expect higher production and lower unit costs in the second half of the year, with Q3 and Q4 reflecting better stacking rates and a decrease in gold inventory on the leach pads. We continue to reaffirm our production and cost guidance for the year. Exploration drilling is underway, and we remain encouraged by the results released in May. Our goal is to convert near-pit targets to mineral resources and evaluate the upside across our 3,000-hectare land package. Before handing it over to J.C., I'd like to reiterate our 2025 guidance. As planned, production remains weighted approximately 40% in the first half and 60% in the second half of the year. We are expecting production to ramp up quarter over quarter in the second half of the year, with our best quarter being in Q4. At San Bartolome, based on a strong Q2 performance, we're favorably revising our full-year margin metrics. Cash gross operating margin is now expected to be in the range of $8- $13 per oz, and gross margin ratio is now expected to be in the range of 35%- 45% for the full year 2025. At Golden Queen, we are reaffirming our previously disclosed guidance. Full-year production of 52,200-60,600 GEO, cash costs of $1,500- $1,800 per oz, and all-in sustaining costs of $1,950- $2,150 per oz. Consolidated capital expenditure remains in the range of $28 million- $32 million for the full year. Now, I will pass it over to J.C. to take you through the financials. Thank you. I've noted revenue for Q2 was $73.7 million, a 5.5% increase over Q2 2024. This was driven by higher realized silver prices, which averaged $34.36 per oz, gold prices averaged $3,316 per oz, and steady operational performance at both assets. Gross profit increased 151% year -over -year to $29.4 million, driven by stronger commodity prices and margin expansion at San Bartolome. Net income practically doubled year-over-year to $17.4 million or $0.12 per share. Adjusted EBITDA of $28.9 million was up 68% from Q2 last year, and our free cash flow for the quarter was $12.3 million. Turning to the balance sheet, during the quarter, as previously mentioned, we repaid all amounts outstanding under our revolving credit facility and ended the quarter with $87.3 million in liquid assets. The $25 million revolver remains fully available, providing additional strategic flexibility. Total liabilities declined to $139 million, while total assets increased to $321 million. Capital expenditures totaled $8.2 million in Q2, focused primarily on Golden Queen infrastructure. With commodity prices remaining strong and our disciplined approach to capital and operating costs, we are well positioned to sustain financial strength while continuing to advance our growth strategy. Now, I'll turn it back over to Alberto for closing remarks. Thank you, J.C. To wrap up, Q2 was another milestone quarter for Andean. We achieved record revenues, continued to generate strong free cash flow, and significantly enhanced our financial position. Both of our operations are performing as planned and well positioned for a stronger second half. We remain committed to developing on our 2025 guidance and executing our long-term strategy to drive sustained value for our shareholders. With a solid balance sheet, cash-generating assets, and an active exploration program, we are excited about the opportunities ahead. Thank you for your continued support, and with that, I will open the line for Q&A. Thank you. We will now begin the question and answer session. To join the question queue, you may press * then one on your telephone keypad. You will hear a tone acknowledging your request. If you are using a speakerphone, please pick up your handset before pressing any keys. To withdraw your question, please press * then two. We will pause for a moment as callers join the queue. The first question comes from Justin Chan with SCP Resource Finance. Please go ahead. Hi guys, can you hear me? Just making sure I'm not muted. We do, Justin. Hello. Alberto, congratulations on a good quarter and for all the progress, especially a nice tick up in the share price this quarter. Thank you. Thank you. My first question is just on Golden Queen. It was a fairly big swing in grade, and I guess the chip ratio also in Q2. I'm just curious, you mentioned higher stacking in the second half. In terms of grade, could you give us a sense of what you're expecting in the second half? Is it more like this quarter or kind of somewhere in between Q1 and Q2? Yeah, Justin, Yohann here, thanks for the question. I mean, the grade is very, very stable at Golden Queen. We finished the mine, the pit one, and we're mining now the third pit. We have all the equipment, I would say, centralized, which is improving productivities. Overall, regarding ton mine, it's going to be very consistent. We're having, I would say, a lower stripping ratio than what we thought compared to the budget, because basically we found a bit more gold than what we thought, which is good news. Overall, basically, I mean, we don't see like a major or drastic changes with grade quarter over quarter. Okay, got you. Around that kind of point, let's call it $0.75. Is that where you see it in the second half? Yeah, pretty much. Okay, thanks. That's really helpful. Okay, that's that on Golden Queen. On San Bartolome, the updated guidance is definitely helpful. I think it's definitely more in line with what you've been reporting. I'm just curious, I ask this question every quarter, but if prices and let's say FX stay where they are, would your margins be similar to how they were in Q2, or would you expect them to revert more to the middle of guidance? I think they would remain the same, Justin. Obviously, it depends on where silver prices end up, but I mean it's fair to say that they would end up more or less the same price from next year. Okay, great. That's really helpful. Maybe just the last one. Do you have anything to note in regards to, I guess, working capital or tax payable timing to be aware of in the second half of the year? Tax payments? Yeah, hey, Justin, it's Dom here. We have about $6 million of tax payments going out in Q3, but otherwise, we don't expect to anticipate any significant working capital this first week for the second half. Okay, so maybe just slightly, you could say slightly more tax paid than maybe income tax on the income statement. Is that just because of timing on payments? Is that, am I understanding that correctly? You're absolutely right. I think we reflected approximately the tax payments for H2 were reflected in our Q2 P&L, it was just timing on the payment that's going out. It's going to be approximately less than her income statement. Okay, so a little bit less cash tax and income statement tax. Absolutely. Okay. Presumably you'll pay the second half income tax in the first half of next year. Is that right? That is correct. Okay, great. Thanks very much. I have a couple more, but I'll free up the line and see if there's time later. Thanks very much, guys. Thank you. The next question is from the line of Alison Carson with Desjardins. Please go ahead. All right. Good morning, Alberto and team, and thank you for taking my questions today. My first question is just about Golden Queen. As you mentioned, we're seeing lower leaching recoveries compared to last year. Are these expected to last, and how should we think about this going forward? Alison, thanks for the question here. Yohann here. Basically, what we did is based on the, I would say, on the kinetic, I mean, we did have a lower recovery in Q2, but we did increase as well our stacking in the same period. As you know, leaching is not occurring the week after. Based on that additional tons, we believe that the extra ton that's been put on the pad is going to leach in Q3 and Q4 and the following quarters. Things are in good shape. If we look at the mining, we put much more, I would say, ounces on the leach pad than what we leach. With the strategy in place, we strongly believe that that gold is going to come out in the second half of the year. Should we just expect higher stacking rates going forward, and then we'll start to see those leaching rates sort of stabilize over time? Absolutely, yeah. That's the goal. With the new equipment that we bought, we saw a massive increase with our stacking. From the tip, what we do, we have the opportunities now to mine a little bit more ore, so we increase our stockpile as well, and we have the ability to segregate lower grade and higher grade and send the higher grade to the leach pad. Leaching is not a process that's as straightforward as conventional processing plants, but I would say that the gold will come out, though the kinetics sometimes are a bit tricky. We also have to consider that the pad is getting higher, and to reach a liner and to go to the milk trough, the timing increased by about 10- 15 days per bench. It takes some more time. Maybe we missed that a little bit during our planning, but I'm very confident that the gold will come. Okay, great. The recovery will increase, yeah. Perfect. Thank you. At San Bartolome, can you give us a little bit more guidance on how the new agreement with COMIBOL will affect production in 2026 and maybe how we should think about grade and grade variability with the new agreement? I would say we started the work, just to go back on that a little bit. We signed the agreement, that was quite good. Right away, we collaborated with COMIBOL the next week to take actions to put those in production as soon as possible. I think that we have good intelligence on those places. We know where to look with COMIBOL. We're reviewing that schedule on a monthly basis with the team, and we've been seeing on all fronts. Basically, based on what we see, it seems like we're on the right track to deliver the first hour sometime, I would say, beginning of the second half of next year. Maybe a little bit before that, but for a meaningful quantity, I think that's going to be more in the second half of next year. Okay, great. Just one final question on M&A. You know, we've seen both strong silver and gold prices this year. When you're looking at potential acquisitions, do you have a preference on whether you'd want a silver primary or a gold primary asset? As we have always said, we're looking at everything. Whether it's gold and silver, that's what I can say right now. We're looking at everything. All right. That's all for me. Thanks for answering my questions, and congratulations on a strong quarter. Thank you, Alison. The next question comes from Ben Pirie with Atrium Research. Please go ahead. Good morning, Alberto, J.C., and team. Congrats on another great quarter. Good start to the year, and obviously, gold prices and silver is helping accelerate this. Diving into a couple of things here, just in terms of production waiting, you mentioned it's ramping through Q2, Q3, and then into Q4. What can we expect in Q1? Can you just explain this sort of reason for this production ramp throughout the year? You mean Q1 of 2026, right? Yes, sorry. I would say that what's working on, we're going to start our budgeting process in a couple of weeks. I would be a bit reluctant to answer that question for now, but I think that we overall see a stable production year-over-year with some improvements. I would say we may see some improvement in the production profile based on perhaps throughput, a better recovery. I guess we're going to cross that bridge when we get there. At this moment in time, it's a bit early to talk about that. We don't have that information in right away. It's going to be in two weeks and two months from now. Okay, no problem. At Golden Queen, obviously, a lot of the infrastructure upgrades you've made over the last year or so have taken place. What can we expect from a CapEx standpoint for the back half of the year? I know that's in guidance, but are we going to see CapEx start to drop down into 2026? Thank you, Ben. Over the next few weeks, we will be working on our next year CapEx plan. What I can say, I mean, it should be probably lower. This last year and this year have been the bulk of our main CapEx plan. There are some investments that still need to be made. We need to expand on the leach pad, for example. Over the next few weeks, we'll come up with a new plan for next year's CapEx, but I believe it should be a bit lower, at least, than what we have done for this year. Okay. Thank you. At San Bartolome, we've spoken a lot about this COMIBOL or coming online in the back half of next year. You mentioned the plant's capacity is currently underutilized. Is there anything that you guys can do over the next year, more near-term initiatives to bring online and sort of meet that capacity? I think that the action that we're taking now, the main focus for sure is going to be to increase that, or to utilize that full capacity. I don't think there's much we can do. We need to be, I would say, a little bit more efficient. We're also operating and helping with five different projects. We are unlocking all the transportation logistics and improving mining in some of the projects. In addition, by adding more zones or those COMIBOL projects, it's going to also help to get to that target. I'm glad that you recognize that there's a low-end input there that we can leverage. You can be sure that our objective is really to increase and reach that full processing capacity and hopefully, at one point, be in position to build a stockpile near the processing plant. Right. Understood. Okay. I had a couple more as well, but again, we'll turn it back to you guys to see if there's anyone else in the queue. Thank you. Thanks. Thank you. This concludes the question and answer session. I would like to turn the conference back over to Alberto Morales for any closing remarks. Thank you, Operator. We want to thank everybody for its continued support. Q2 was a strong quarter. We are pleased by the results and look forward to the next second half of the year, as we have stated in our documents and throughout the call. Thank you very much. With that, we'll conclude our earnings call for today. Thank you. This brings to a close for today's conference call. You may now disconnect your lines. Thank you for participating and have a pleasant day.