Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Jennifer Cameron. Please go ahead, ma'am. Thank you, and good morning. I'm Jennifer Cameron, Director of Investor Relations, and I'd like to welcome you to the Dundee Precious Metals fourth quarter and year-end conference call. Joining us today are members of our senior management team, including David Rae, President and CEO, and Navin Dyal, Chief Financial Officer. Before we begin, I'd like to remind you that all forward-looking information provided during this call is subject to the forward-looking qualification, which is detailed in our news release and incorporated in full for the purposes of today's call. Certain financial measures referred to during this call are not measures recognized under IFRS and are referred to as non-GAAP measures or ratios. These measures have no standardized meanings under IFRS and may not be comparable to similar measures presented by other companies. The definitions established and calculations performed by DPM are based on management's reasonable judgment and are consistently applied. These measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. Please refer to the non-GAAP financial measures section of our most recent MD&A for reconciliations of these non-GAAP measures. Please note that unless otherwise stated, operational and financial information communicated during this call are related to continuing operations and have generally been rounded. References to 2024 pertain to the comparable periods in 2024, and references to averages are based on midpoints of our outlook or guidance. I'll now turn the call over to David Rae. Good morning, and thank you all for joining us. 2025 was an excellent year for DPM and demonstrates DPM's strengths of disciplined capital allocation and operational excellence that underpin our strategy to be a premier mining business. First, we are a sustainable, responsible, and efficient operator. In 2025, we achieved our gold production guidance, extending our operational track record to an exceptional 11 years. At the same time, we continued to deliver strong margins with an all-in sustaining cost of $1,082 per ounce of gold sold, compared to an average realized gold price of $4,323 per ounce. Most importantly, we've accomplished all of this while maintaining a high standard for responsible mining, with a strong safety and environmental track record that has ranked us at the top of our industry for the past five years in the S&P Global Corporate Sustainability Assessment. Second, we focused on developing quality assets. In 2025, we transformed our growth profile by acquiring the high-margin Vareš operation, advancing Čoka Rakita to feasibility, while defining Dumitru Potok and outlining a ten-year mine life with potential to extend at our flagship mine, Chelopech. We completed an initial mineral resource for the Rakita camp, which, together with the results for Čoka Rakita, confirms the Rakita camp as a Tier One gold asset for DPM, offering a rare combination of scale, grade, and longevity. Third, we maintain a strong financial position to support our growth. We've consistently delivered free cash flow generation, including a record $505 million in 2025, and we returned over $145 million to shareholders through dividends and share repurchases. We currently have $1 billion in immediate liquidity to deliver high return growth. Overall, we were pleased to see our accomplishments in 2025 result in DPM being one of the top-performing stocks amid mid-cap precious metals producers. As we enter 2026, we are focused on execution and growth, delivering an average of approximately 350,000 ounces gold equivalent annually over the next three years, and continuing to maintain our competitive cost position. Turning to Vareš, the new addition to our portfolio and a key driver of our near-term growth, integration and ramp-up activities are continuing to advance very well. From day one, we focused on embedding DPM's health and safety practices at Vareš. Ensuring the well-being of our people remains our top priority. Development rates have continued to progress in line with plan, and mine production recommenced in January. This progress is the result of our efforts to transform training programs for local, local employees and engaging with stakeholders, both important steps as we build a strong foundation for long-term success. Our 2026 guidance for Vareš reflects this fact, and this is a transitional year for the operation. Production is expected to increase quarterly as we progress the ramp up to 850,000 tons per year, as a rate we expect to achieve in Q4 and then continuing in future years, with the second half of this year represents approximately two-thirds of our 2026 production. This year, we're accelerating precious metals production, with gold and silver production higher than previously communicated in the PFS for gold equivalent production of over 100,000 ounces. Cash flow and margins are expected to be higher than the PFS as a result of the increased precious metals production and higher prices, more than offsetting higher operating costs that we anticipate this year. Consistent with our approach across all of our operations, we will continue to evaluate opportunities to optimize the cost structure for 2027 and beyond, targeting the cash cost per ton metrics outlined in the technical report. Our track record of optimizing assets and driving efficiencies gives us the confidence that we can unlock additional value at Vareš, just as we've done at Chelopech. In short, Vareš is off to a strong start, and we're excited about its contribution to our growth in the years ahead. Turning now to Chelopech, our flagship asset that continues to underpin our success. We're expecting consistent high-margin production in line with the updated life of mine plan we published last week.... We're pleased to achieve our target of increasing Chelopech's mine life to 10 years. However, it is important to note this does not incorporate the potential of the new Wedge Zone deep discovery and the prospectivity of Chelopech North and the Brevene exploration licenses. With results from drilling to date demonstrating grades higher than reserve grade, the Wedge target represents an opportunity to enhance mill feed grades and gold production, potentially from 2029. Initial drilling results from this discovery, made in a relatively underexplored area of the mine concession, demonstrate this is an area of high - that is highly prospective for additional discoveries. We are currently completing a 10,000-meter drilling program in the first quarter, and expect to provide an update in the second quarter. Additionally, we expect the Chelopech North concession to be granted this year, and concurrently, the Brevene exploration license is progressing through a well-defined permitting regime. Our growth priority in 2026 is advancing Čoka Rakita permitting to support a construction decision. Late last year, we completed the feasibility study for Čoka Rakita, as planned, confirming robust economics for a high-margin underground gold mining operation, contributing almost 190,000 gold ounces annually for the first five years, at first quartile life of mine all-in sustaining costs of $644 per ounce of gold sold. Based on the positive results, we're proceeding to execution readiness and construction permitting, with first concentrate production anticipated in the first half of 2029. In November, we achieved a key permitting milestone with the approval to initiate the Special Purpose Spatial Plan. Permitting activities continue with a detailed permitting timeline focused on supporting start-up of construction in early 2027. Most baseline studies required for the Environmental and Social Impact Assessment have been completed, and the approval and adoption of the Special Purpose Spatial Plan is expected in the second half of 2026, following which DPM anticipates submitting the Exploitation Field Application in accordance with the Serbian permitting process. We are maintaining close and proactive engagement with the relevant authorities to support this permitting process, and we remain confident in the overall progress at Čoka Rakita. In terms of our exploration activities at the Rakita camp, in early December, we announced initial Inferred Mineral Resource estimates for Dumitru Potok, Frasen and Rakita North of 2.6 million ounces of gold and 1.9 billion lbs of copper. The mineral resource estimates demonstrate the Rakita camp's potential of the district-scale gold-copper system, with all three prospects remaining open in multiple directions, and sitting alongside several other high-potential targets along its 6-km trend. Within 14 months of announcing these initial discoveries, they've rapidly grown into a significant gold-copper inferred mineral resource, a remarkable achievement over a short period of time, underscoring the significant potential of the Rakita camp. Drilling is currently paused on the Rakita license, the Čoka Rakita license, pending the normal course renewal of permits, and is anticipated to recommence in the second quarter of 2026. Upon renewal of the permit, we're planning 20,000 m of drilling, of which a significant portion will be allocated to infilling and extending mineralization at Dumitru Potok, and increasing drill density prior to initiating any PEA or other economic study. Meanwhile, active drill testing is ongoing on the neighboring Potaj Čuka license to the north of the Rakita license. Before handing the call over to Navin, I'll summarize our 2026 priorities. We intend to deliver on the ramp-up at Vareš. We're going to be advancing Čoka Rakita to a construction decision, and we're going to be following up on the significant exploration potential within our existing portfolio, both in Serbia and in Bulgaria, each with the potential to drive meaningful value for our shareholders. We will continue to execute on these priorities with the same commitment to responsible, efficient mining, financial discipline, and value creation. I'll now turn the call over to Navin for a review of our financial results and a detailed look at our guidance. Thanks, Dave. I'll be touching on the financial highlights for the year, provide an overview of our 2026 guidance and updated three-year outlook, and conclude with some commentary on our balance sheet and return of capital program. All of my remarks will focus on results from continuing operations, unless otherwise noted. Looking at our financial highlights for the year, we achieved consolidated production and costs in line with our guidance and delivered record financial results, including revenue of $950 million, adjusted net earnings of $443 million, or $2.39 per share, cash flow provided from operating activities of $492 million, and Free Cash Flow of $505 million. Our record financial results reflect our strong operating performance, the low-cost nature of our operations, a favorable commodity price environment, and the initial contribution from Vareš following the closing of the acquisition of Adriatic Metals last September. Looking at our earnings and cash flow in more detail, revenue was higher than the prior year, due primarily to higher realized metal prices and post-acquisition revenue from Vareš, partially offset by lower volumes of gold sold at Ada Tepe. Adjusted net earnings increased compared to the prior year, due primarily to higher revenue, partially offset by higher cost of sale and higher mark-to-market adjustments to share-based compensation expenses. Adjusting items, net of taxes, not reflective of the underlying operations of the company, include a $27 million non-cash fair value adjustment on inventory to Vareš, recognized in cost of sale.... the 2025 Bulgarian levy of $22 million, acquisition-related costs for Adriatic Metals incurred by DPM of $15 million, the fair value and the fair value adjustment on Vareš copper stream liability of $9 million. Cash flow provided from operating activities was higher than the prior year, due primarily to higher earnings generated in the period, partially offset by the timing of collections from sales, from payments to suppliers, the payment of the 2025 Bulgarian levy, and higher income taxes paid. Free Cash Flow, which is calculated before changes in working capital, was higher than the prior year, due primarily to the higher earnings generated in the year. Taking a look at our cost metrics, all-in sustaining costs of $1,121 per ounce of gold sold for the year were 29% higher than the prior year, due primarily to higher mark-to-market adjustments and share-based compensation expenses, lower volume of gold sold, and a stronger euro relative to the US dollar, partially offset by higher byproduct credits, reflecting higher realized prices for copper and silver sold. Mark-to-market adjustments to share-based compensation expenses resulted in an increase of $242 per ounce of gold sold in 2025, compared to only $28 per ounce of gold sold in 2024. In terms of our capital spending, sustaining capital expenditures of $33 million for the year were lower compared to 2024, due primarily to changes in deferred stripping costs at Ada Tepe as a result of the changes to the stripping ratios compared to 2024, and it was in line with the mine plan. Growth capital expenditures of $56 million for the year were higher than the prior year as a result of costs related to the Čoka Rakita project being capitalized from the beginning of 2025. Last night, we provided an updated 3-year outlook with production and all-in sustaining costs. Following the addition of the silver and polymetallic Vareš mine, we are transitioning to gold silver ounces reporting for production and all-in sustaining costs. We'll no longer be reporting all-in sustaining costs on a by-product basis. Over the next three years, metal production is expected to average approximately 350,000 ounces of gold equivalent ounces per year. The growth in production is driven primarily by the contribution from Vareš and stable production in Chelopech, partially offset by lower production at Ada Tepe as it reaches the end of its mine life by mid-2026. All-in Sustaining Costs over the next three years is expected to average approximately $1,450 per gold equivalent ounce sold. This outlook incorporates variations in metal production and sales year-over-year, as well as the impact of higher local currency operating costs, combined with a stronger euro relative to the US dollar assumption for 2026 as compared to 2025. At Vareš, as the mine achieves commercial production, we will be evaluating opportunities to optimize the cost structure for 2027 and beyond, targeting the cash cost per ton metric outlined in the Vareš technical report. We are forecasting higher investment in exploration over the next three years, reflecting our success in generating value through exploration, especially in 2026, with potential to increase for two to three years, dependent on the success of the company's exploration process. Sustaining capital expenditures over the next three years shows stable spending at Chelopech, and primarily underground capital development at Vareš. Our three-year outlook for growth capital primarily relates to the Čoka Rakita project, which is expected to commence construction in early 2027 and achieve first production of concentrate in the first half of 2029. In 2026, growth capital expenditures also include expenditures related to Vareš, which support the development and ramp up to commercial production, as well as limited expenditures related to the Loma Larga project, pending resolution of the revocation of the environmental license. We continue to maintain a strong balance sheet with a consolidated cash balance of $498 million, no debt, and a new undrawn credit facility. The new credit facility has capacity of $400 million and an accordion feature that takes capacity up to $550 million, with more favorable terms, added flexibility, and lower pricing. The strength of our balance sheet is a testament to our focus on disciplined financial management, providing us with the flexibility to fully fund growth and our exploration process. We've consistently demonstrated our disciplined approach to capital allocation, which is based on three fundamental considerations: maintaining a strategic cash position to fund organic growth and pursue strategic transactions, reinvestment in the business to grow value and the long-term sustainability of the business, and returning excess capital to shareholders through a mix of dividends and share repurchases with a view to maximizing total shareholder returns over the long term. We remain focused on returning capital then to investors through dividends and share repurchases, reflecting confidence in DPM's future and our commitment to generating shareholder value. During 2025, we returned a total of $145.5 million to shareholders through the repurchase of approximately 10 million shares, for a total cash payment of $160.1 million and $29.4 million of dividends paid. Our current NCIB expired in March. Board of Directors has approved the renewal of the NCIB, subject to approval by the TSX. Reflecting our confidence in DPM's future and commitment to shareholder value, for the calendar year, calendar year 2026, the Board of Directors has authorized the repurchase of up to 200 million of the company's shares, $200 million worth of the company's shares. In closing, we continue to deliver strong performance from our mining operations, and we are in a strong cash position to achieve our targets and continue our track record of generating significant free cash flow. I will now turn the call back to Dave for his concluding remarks. Thanks, Navin. This is an exciting time for DPM and our shareholders, who were awarded in 2025 with top-quartile share price performance. Our future as a growing precious metals producer, offering a peer-leading development pipeline,... a proven approach to capital allocation, underpinned by an exceptional operational track record, the continued share price appreciation. We remain focused on executing our strategy to deliver above average returns for our shareholders as a mid-tier precious metals company with a clear path forward to drive value. I'd now like to open the call for any questions. Thank you. To ask a question at this time, please press star one one on your telephone and wait for your name to be announced. To withdraw your question, please press star one one again. One moment while we compile our Q&A roster. Our first question will come from the line of Fahad Tariq with Jefferies. Your line is open. Please go ahead. Hi, thanks for taking my question. On Čoka Rakita, the permitting, can you maybe just talk through the specific remaining permits? Is it just a Special Purpose Spatial Plan, or is there something else? And, have there been any surprises so far as you've gone through the permitting process? Yeah, thanks for the question. So there are a couple of different things that comprise the work that's required to be completed to get the EIA and the permitting for construction. So at the moment, we have a number of things happening at the same time. The one is this special purpose planning process, which effectively is like a land use permit, where what we do is we give information on what it is that we plan to do. So this would be roads, access, land conversion, use for things like power, water, tailings, rehabilitation, all of these things. The way that works is that the government requests input on a standard process, looking for what are the other things that people might want to see in the work that we submit, such that we can provide confidence and clarity in terms of what it is that we need to do. That process of those questions has been completed, and there is a group together which is now progressing this work that will be required for us to answer the SPSP process, as we call it. So we anticipate that over the next couple of months, we're gonna respond to those questions, recognizing the bulk of that work is already done as part of our engineering process, and really just looking at any remaining questions that there may be that we provide input into. So we anticipate that being done, you know, early in the second half of the year. In addition to that, we're also gonna be completing a Serbian feasibility study, recognizing, again, a lot of that work has already been done, but you need to do that with local companies and local engineering people, part of whom are actually already within our project team. So we'll be completing that at the same time and anticipate that being ready in Q, let's say Q4, early Q4 of this year. On top of that, we'll be looking to complete an EIA and looking for approval of that late this year, early next year, let's say January. And then with all of that, we anticipate we'll be in a position to have a construction permit issued. So again, early in the first quarter next year. Hopefully, that helps. That's very clear. Then on the Rakita camp, I guess, a drilling permit, is that, is that just a normal course? Is there anything different there? Yeah, it's normal course. So we get an eight-year exploration license, which runs in 3 + 3 + 2. We've completed the first three years of activity. We then provide a report saying, "This is what we did relative to what we said we were gonna do. Here's what we plan to do in the next phase." All of that has been done, and we're just waiting now for the response from the ministry. So it is normal course. Okay, and then finally, just switching gears to just more strategically in M&A, I noticed the upsides to revolving credit facility. Loma Larga sounds like, you know, the environmental permit still needs to be resolved there, and spending has been minimized. I don't know, just piecing it all together, is there something to read through in terms of potential M&A and potential acquisitions to replace Loma Larga with something else? Yeah, maybe I'll just start with the revolver here. So yeah, the revolver is essentially a working capital facility for us, so it's not meant to be for any gifts, you know, particular purpose around M&A transactions. It's really just for us to have that available liquidity. So maybe I'll turn it back to Dave to make a response to that. Yeah, don't read anything into that in terms of the project activity that we have going forward or the potential status or intent in terms of Loma Larga. With Loma Larga, we're intent on preserving value, and to that end, we said initially that we would let things quieten down, and then there's gonna be a necessity of a few different activities, a part of which includes engagement. So, you know, we'll talk more about Loma Larga as we progress through this year. I think there's been a couple of thoughts along the lines of, you know, where is our primary focus as an organization? And pretty clearly, that's within the Balkans at the moment, where we have both Chelopech with an extended mine life. We've got some, a lot of excitement around Vareš and our ability to make things happen there, plus tremendous success of our exploration team in, Serbia and also at Chelopech. Okay, great. Thank you very much. Thank you, and one moment for our next question. Our next question will come from the line of Eric Winmill with Scotiabank. Your line is open. Please go ahead. Great, thank you. Hi, David and team. Congratulations on the strong quarter here. Just a quick question on my side, if you don't mind, on Bulgaria. Any additional updates there in terms of what you're seeing on the ground? It sounds like we're gonna have an election, possibly later this year. You know, I know they took on the euro, earlier as well. Also, maybe some changes to the royalties here, but it looks like, Chelopech is mostly grandfathered. Wondering if, that's the same for the new, concessions as well or some of the outlying areas. Appreciate it. Thanks. Okay, so the euro is a seamless transition. You know, that, of course, we've been fixed in terms of the Bulgarian lev to the euro for many, many years now. And, that now recently has translated into a full adoption within, not just the Eurozone and, membership from the EEA to the EU, but also with the acceptance, adoption of the euro from the first of January. So all of that's gone well. In terms of the election process, you're correct. There is actually an election that's anticipated, that's gonna be at some point in April. This is not unusual. We've had quite a few, changes in government over the last number of years. There's a well-understood set of processes around, you know, working with the authorities, on mining, and we've not seen any changes in that, with changes in government. So happy to say that it's sort of operations normal in terms of what we're doing. And yes, we do anticipate that there's gonna be some elections coming up in April. The last question that you asked was about the royalty. There was a royalty for those mines, whereby there was a clause. And sorry, Dominic, did you want to- Yeah, I could just jump in here. Yeah. So, Eric, on January 30th, the Bulgarian government adopted new royalty rates for mining concessions. They increased the royalty rate to gold from 2%-6% and for copper from 2%-5%. Now, you're right as well. These new rates do not apply to the existing Chelopech concession, which has fixed royalty terms. They do apply minimally to Ada Tepe, but it's, you know, given that Ada Tepe is nearing the end of its mine life, we've already, you know, included that in our outlook for next year or for this year. Now the Chelopech concession does expire in 2029, and we do expect that the new rate start to apply upon the renewal. As well, to your question around whether it applies to other concessions, it would apply to any new concessions we have, such as Chelopech North or Brevene concession, concessions once those concessions have been granted. Yeah, so the difference between the timing of the two different permits, the concessions between Ada Tepe and Chelopech. Chelopech was already in place and has no clause or increases, which can be brought in. That's why, you know, we're confident that stayed until we renew the concession. Whereas Ada Tepe was something new that was brought in, and say 2016, 2017, and in that they'd have that if there were any changes, that they would apply. So that's why the difference between the two. Okay, fantastic. Thank you. Really appreciate the extra clarity. Maybe just one more from my side, if you don't mind, in terms of M&A. How important do you see M&A as, as part of your strategy here going forward? So we're obviously very opportunistic in terms of if we identify something that makes sense as an organization, that we'll act on it. But I, I think you can also see, Eric, that we've had a great deal of success in terms of developing our organic growth portfolio. And happy to say that, you know, from where we were five to six years ago to where we are now, we're in a very different position. So we continue to watch for M&A actively, but we need something that would make a difference and that we're not chasing on value in order to pick something up. So no, no necessity to have something, but if we find something of interest, we'll certainly engage. So at this point, though, you know, regardless, if you look at adding 4 million gold equivalent ounces last year, that certainly sends a message in terms of, you know, what we can do with our existing portfolio. So, you know, we, we look, but no need to, to engage unless we see something particularly interesting that's gonna really help create something accretive to the organization going forward. All right. Thank you. I really appreciate that. Well, congrats again, and I'll hop back in the queue. Cheers. Thank you. Thank you. I would now like to hand the conference back over to Jennifer Cameron for closing remarks. Great. Thanks, everyone, for joining us today. If there's any further questions, please feel free to reach out, and we look forward to talking to you guys over the coming weeks. Thanks, and take care.