Good morning, ladies and gentlemen, welcome to the SilverCrest announces results of updated technical report conference call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. I would now like to turn the conference over to Mr. Eric Fier. Please go ahead, sir. Thanks, operator. Good morning, thanks everyone for joining this call. Today, we'll be providing commentary on the results of the updated technical report for the Las Chispas operation located in Sonora, Mexico. After which, we'll be happy to take questions. The slide deck that we'll be referring to is available on our website at silvercrestmetals.com under Investors tab. On the call with me this morning is Pierre Beaudoin, Chief Operating Officer, and Chris Ritchie, President. We will now get started with the slide deck. Before we go too far, let me direct your attention to the forward-looking statement on slide one. All figures discussed this morning are in U.S. dollar, unless otherwise stated. It is also important to note, with delivery of this report, the 2021 feasibility study is no longer current and therefore cannot be relied upon. Duly important is the change in the silver equivalent ratio from 86.9:1 to 79.51:1 in this updated report, which impacts all silver equivalent matrix. Throughout the presentation, we'll be calling the mineral resource estimate and mineral reserve estimate, simply resource or resources and reserve or reserves. Measured and indicated simply M&I, feasibility study, simply FS, for the sake of brevity. On to slide three. The Las Chispas is a 100% precious metal operation with an almost equal split of silver and gold with respect to value. Based on the report, the operation will produce an average of 10 million ounces silver equivalent annually in the first seven full years of production. Average mine- level, all-in sustaining cost is estimated at $11.98 per silver equivalent ounce over the eight-year mine life. This puts us in the lowest quartile for all-in sustaining costs amongst silver-dominant producers. With a strong balance sheet and robust margins, we are focused on growing by responsible and opportunistic capital allocation. We know this study took quite a bit of time. We appreciate the patience of the investment community, and we think it's important to note that the report has benefited greatly from the incorporation of actual mining and cost data now that we have had approximately one year of plant production and more than 18 months of underground production under our belt. The actual real-time operational data we've been able to collect, combined with updated engineering, make for not only a better study, but a mine plan and production profile that we are highly confident in. The operation will have an average processing rate of 1,200 tons per day, with an average milled grade of 716 g per ton silver equivalent, ranking Las Chispas as one of the highest grade mines for a silver primary operation. Since 2021 FS, Mexico's Consumer Price Index, or some may know that as the CPI, has increased more than 20%. In some cases, our experience at site has far exceeded these levels. This ongoing inflationary trend, both in Mexico and beyond, when combined with mine-specific changes, has had a significant impact on our costs. Despite this, the operation is expected to generate healthy annual free cash flow of $84 million on average over the first seven years at base case prices. Besides the significant cost impact, other key changes include a change in metal prices, revision of geologic and mining factors, and increased processing recoveries. These impacts will be discussed in more detail throughout this presentation. On to slide five. The new M&I resource estimate, based on a ratio of 79.5:1, is 101.9 million ounces silver equivalent, which compares to 103.8 million ounces silver equivalent for the 2021 FS, adjusted to same gold to silver ratio. The 2023 resource is similar to the 2021 FS resource in numbers, but not in distribution ounces. The main reasons for resource change are: the veins are overall narrower. Mostly due to previous overestimation of resources at several vein splay intersections and the influence of less continuous mineralized stockwork adjacent to veins. I'll discuss this a little bit further later. From our recent experience in certain areas, when mining vein and splay intersections, we noticed that the 2021 resource model vein was not as wide and split into two or more smaller veins. As a result, there were reduced tons and associated ounces in select locations in the Babicanora Main and the Babicanora Norte veins. With further infill drilling of the Babi Vista splay, which is now included in the Babi Vista vein, ounces were converted to M&I for resource gain. Overall, the reduction in ounces from Babicanora Main and Babicanora North, Norte veins were replaced by gains from the Babi Vista vein, including splay. However, the gains in the Babi Vista vein require additional mine development in the new plan. Based on further infill drilling and mining experience, the resource model was changed to reflect hard boundaries on vein shapes and limit the influence of multi-kilogram per ton shoots. The 2021 FS used soft boundaries and less constraints on high-grade shoots. This further reduces the influence of high grade, which results in overall reduction of ounces. Inferred resources were reduced from the 2021 FS as ounces were converted to M&I for reserve consideration and due to the application of the same constraints as the M&I resources. On to slide six. You can see the changes in resource ounces and their location to current operations in comparison to intersections on this slide. For reference, on this slide, there is a map showing the Babicanora area. The Las Chispas area is not on this map. Please note, the main veins are labeled as Babicanora Main, Babicanora Vista, and Babicanora Norte. Also, the Santa Rosa main ramp is labeled for those that are familiar with the site. In the lower left side of the slide, you will see an intersection or bifurcation, as the geologists call it. Example of actual vein in red as of how we mined it, and the 2021 FS vein in blue. The 2021 FS interpretation of the vein, based on drill holes, suggested a wide, high-grade vein progressing along strike between drill holes. Based on actual mining, the vein was two smaller or narrower veins with a significant reduction in tons. This impact was both lateral and vertical in areas. On the right side of the slide, you can see a 3D rendering of the 2023 main vein shapes in red used for reserve estimation, blue transparent blocks for 2021 FS reserve model, and ovals outlining the areas of gains and reductions. Note that the veins are still the same, with changes in select areas. For the Babicanora Main vein, the reductions were based on intersections, as we just discussed, edge effects, and a historic void not accounted for in 2021 FS. For the Babicanora Norte vein, most reductions were from intersections, and for the Babi Vista vein, gains exclusive of the Babi Vista splay were related to expansion. The gains noted on the slide require additional underground development. On to slide seven. In the report, we see a 13% reduction in silver equivalent ounces in the reserve using the standard percent change formula. This reduction can be attributed to several factors, including inflation and mining costs, which lead to an increase in the cut-off grade, updated modeling for narrower and more widely dispersed veins used to, based on actual mining experience, revised geotechnical standards, and a change in mining method, methods, which Pierre will speak to during this presentation. When the plant began operating in June 2022, we initiated a reserve to plant reconciliation program. Our new reserve has been compared to actual plant production between June 2022 and April 2023, and reconciled within 5% of the 6.8 million ounces silver equivalent processed. This estimate is well within an acceptable range for a narrow, high-grade vein deposit. This program has tested the assumptions in the resource and the reserve alongside the actual mine and plant production, thus further de-risking the project. This reconciliation program will be an ongoing process over the life of the operation. I will now pass it to Pierre. Thank you, Eric. Referring now to slide number eight. It is expected that the mine will ramp up from the current level, starting in Q1 of next year, and will steadily increase to reach 1,200 tons per day in 2026. The mine ramp-up is designed to maintain surface stockpile throughout the life of mine, which provides flexibility to the operation. Learning from the past 18 months working underground, we have simplified the mine plan where possible, by reducing cut-and-fill and resue mining, and increasing long-hole to support the more predictable operation. This approach will reduce the number of working places and will increase productivity, although at the price of increased dilution. Even with the decrease in grade, Las Chispas remain one of the highest grade primary silver mines in the world. Now to slide number nine, please. Life of mine sustaining costs are estimated to be $220 million, with 93% of these costs relating to underground mining and infrastructure. These costs have increased due to a combination of higher development unit rate and additional infrastructure required by the new reserve areas. The unit rate itself has increased from the previous level due to inflation on man- hours and supply, but also due to ground conditions, which impose much stricter ground control standards. Still on slide nine, the green boxes highlight new areas of development not previously planned. Sustaining CaPex is now somewhat front and loaded, and we expect that 2023 and 2024 will come in higher than the average life of mine. On slide 10, please. You can see a breakdown of our mine- level AISC. We have talked almost too much over the past year about the expectation that our costs would increase from the previous study, and this has been evident in our quarterly reporting since entering production. Q1 2023 provided a strong base from which to update our cost model. Since 2021, the world has seen significant inflation, and we've not been immune to the, the impacts. The inflation has been seen in more labor, supplies, and consumables. Beyond inflation, the increase in cost has been driven by a greater understanding of the deposit and necessary change to mine it, both safely and efficiently. Underground, while we gain using long-hole, the cost pressure has increased with cut-and-fill and resue, as they are now exclusively being mined by breasting. Additionally, the ground condition experience on the ground have forced us to apply much stricter ground control standards, which has impacts on both the OPEX and the sustaining capital. The processing cost increase can primarily be attributed to wage and consumable, site G&A costs have been updated to reflect increased wages and manpower, and the continued operation of the camp over the life of mine, which was not expected initially. With the challenging manpower environment in Mexico, the camp offers an employment incentive that helps attract labor. It does come at an estimated average cost of $4 million annually. Note that the costs presented are the mine- level, and the assumed FX rate for the Mexican peso to U.S. dollar was 20:1 over the life of the mine. We estimate that approximately 40%-50% of our costs are pesos denominated. If we were to use a 17:1 ratio, the impact would be approximately $0.50 an ounce increase to the AISC. Despite this change, our life of mine- level AISC is still low. While this estimate does not include corporate G&A and sustaining exploration costs, we expect to be able to provide more guidance on our corporate level AISC, with our Q2 2023 results next week. Moving to slide number 11, please. We've been pleased with the performance of the plant to date. We have achieved better than initially expected metallurgical recoveries through simplifying the process flow sheet. The life of mine now includes improved recoveries of 98% for gold and 97% for silver. The plant performance to date has also provided confidence that it can efficiently operate with a wide range of grade and clay content. While the plant is designed for 1,250 tons per day, we expect to operate at an average of 1,200 tons per day, from 2023-2029, to align with the mine, while also maintaining a healthy stockpile balance. It is now expected that surface stockpile will be maintained at approximately two months of process plant feed throughout the life of mine. These could be processed earlier than scheduled if the mining ramp-up proves to be better than proposed, or provide process plant feed in the event of a mine production shortfall. With that, I will pass it to Chris. Thanks, Pierre. Looking at slide 12, the report has outlined a stable production profile of 10 million silver equivalent ounces per year on average over the first seven full years of production. This production combines with a low mine -level all-in sustaining costs of $11.98 per silver equivalent ounce to allow for the generation of robust operating margins. At base case prices, the study outlines that the project will generate mine-level AISC margin of 48% over the life of mine. As costs tend to track the metals price in our industry, our strong margins offer a stable, competitive advantage relative to higher cost assets. These margins, combined with our strong balance sheet, make us uniquely resilient at low points in the business cycle, while also being able to allocate capital opportunistically at the same time. Moving to slide 13. As we have exited construction in the initial capital phase, the core valuation metric for the project is net present value. At base case prices and a 5% discount rate, the project generates an after-tax NPV of $550 million. You can see from this chart that the project remains resilient at lower prices. At spot prices in the range of what we've seen recently, the NPV would be roughly 15% higher. Moving to slide 14. We are positioned to generate strong free cash flow throughout the life of mine at both base case and current metal prices, with an average project-level free cash flow of $84 million at $1,800 per ounce gold and $23 per ounce silver in the first seven years at the base case. Of note, we began 2023 with $71 million in net operating losses or tax loss carryforwards. Our 2023 cash flow has benefited from use of these losses. It is estimated that the base case, that these operating losses will be fully utilized by the end of 2023, and as a result, contribute to the reduction in after-tax free cash flow in 2024. While we are experiencing a supportive metal price environment currently, it is important to note that at reduced metals prices, Las Chispas is resilient, with an estimated $77 million of project-level free cash flow at a $1,700 per ounce gold price and a $22 per ounce silver price. Now looking at slide 15. Within just seven months of declaring commercial production, we paid down all of our $90 million debt facility, and we are very proud to say we are now debt-free and have been growing cash on the balance sheet each quarter since. We had $21 million net cash at the end of Q1 2023 and ended Q2 2023 with $53 million in net cash and $6 million of bullion holdings. Our balance sheet provides the ability for us to make a wide range of capital allocation choices, and this is unique position to be in amongst our producer peers. With the study behind us and operations performing well, we are excited to return to organic growth and begin to pursue some other capital allocation opportunities, which could include returning capital to investors, additions to the bullion holdings, and external growth opportunities. On slide 16. Exploration remains the most significant opportunity at Las Chispas, Eric will discuss these opportunities in more details in the next slide. Beyond the potential to grow the reserves, there is also potential to increase plant throughput with an accelerated ramp-up of the underground and/or an increased reserves. There is also potential to optimize operations, which includes improvements to the mine design, the geotechnical standards, which could result in reduced underground development, improvements in dilution, or the addition of reserves from marginal ounces and pillars. With that, I will now pass it back to Eric to discuss exploration and conclude the call. Great. Thanks, Chris. On to slide 17. The exploration team is excited to continue drilling as it focuses on reserve replacement with a $10 million budget through Q1, 2024. Please note on this slide that north is to the left, the Las Chispas vein and its veins are on the left side, and the Babicanora and its veins are on the right side. All current mining is in the Babicanora veins. As you can see on the left side of the slide, a list of priorities for drilling to consider for reserve replacement. Red blocks noted in the legend are priority targets in the short term, blue blocks are longer term. Also note that the orange lines are veins with measured or indicated resources, indicated resources. Pink lines are veins with inferred resources, blue lines are veins with initial or further exploration required. It's estimated that there are 15 million high-grade silver equivalent inferred ounces in proximity to the current planned operations. Phase I of the exploration program will target the red blocks shown in the image, which contain an estimated 10 million ounces silver equivalent. Phase II will begin in H2, 2024, to target the remaining ounces when underground access is more available. With the report details now in hand, the operations team are looking at how we can potentially include some of the 23.3 million ounces silver equivalent of indicated resources that did not make it into reserve. This opportunity exists over the short and long term with, through drilling and additional geotechnical analysis. There are over 23 km of unexplored veins on the Las Chispas property. We have been so busy with finalizing the report and running operations that we've had little time for any serious exploration. Now is the time. Beyond this Las Chispas-based exploration program, we continue to focus growth through target generation in the region proximal to the mine, including our El Picacho property. We also continue to review organic and external growth opportunities beyond the Las Chispas area. Next week, we will be releasing our Q2 2023 results. The Las Chispas operation, as of today, continues to perform very well. We'd like to thank our Las Chispas team, our team in Canada, and many consultants who have invested a great deal of effort and time in delivering this report. That wraps up our formal commentary for today. Operator, please open the line for questions. Thank you, sir. Ladies and gentlemen, we will now begin the question and answer session. Should you have a question, please press star followed by one on your touch-tone phone. Again, that's star followed by one on your touch-tone phone. If you would like to withdraw your request, please press star followed by two. Please stand by while we compile the Q&A roster. We have your first question coming from the line of Stephen Sze from Stifel. Please go ahead. Hi, guys. Thanks for a comprehensive report last night. Lots of good detail in there. My question, I guess, is really around ground conditions and, and some of the geotechnical considerations. I think I was a little surprised to see where the mining unit cost came in with the shift to more long-hole stoping. It's also something you've got listed here as, as a potential upside and operational optimization. Can you maybe just speak a little bit more about what you've learned through mining on, on what the ground conditions are like and what they require and kind of that, that component in this update? Thanks. Yeah, this is Pierre. When we arrive on the ground, obviously, the information was just coming from drill holes. A lot of what we've seen required much more stricter ground control measures, including, in some cases, shotcrete. Obviously, this slowed us down. Also, in the intersections, we had to beef up our standards and to the point that obviously it increased our cost. The part that was not so well-defined in the previous study was also, it's also related to the geotechnical conditions. In order to be ready to operate on multiple front, we obviously had to open up a lot more. What we've discovered over time is the rehab cost of the rehab comes at a greater cost than first expected. Okay, perfect. Thanks. That's, that's really helpful. Then just, just maybe kind of following up on that, you again, you've got it listed here as an opportunity. I guess what, what aspect of that do you see as, as potential, incremental upside as you get more familiar with the operations, or what, what can be, tweaked to reduce cost or improve, improve productivity from a, a geotechnical and ground support perspective? Well, the first thing is, you know, we've been very surprised when we did the summary of, you know, trying to compare one study to the other, of the amazing increase in, in cost in some of the supplies. You know, just to name a few, ANFO has gone up, like, 50% or 60%, Swellex almost double, and cable bolt came in much higher than expected. That's one thing, and we're gonna have a closer look at how we can approach that going forward and if we need to change or maybe adapt these standards to better to do better on the cost side. The other component is obviously the pillars. As you know, this is an independent study, and as an owner, we don't always have the final say on what goes in there. Even though we had a lot of information on these pillars and the surveys and so on, we could not necessarily produce them in time for the independent QP to agree with them. We remain firmly confident that we can reduce the size of these pillars when we produce the information. I'll just follow up. I'll just follow up a little bit more on that. Just, the two things that we need to approach pretty quick, and we can approach pretty quick, is the designation under the crown pillar. In the feasibility study, average crown pillar was 13 m from surface, and now it's 20 m-30 m. That's really based on moving from, you know, a resue mining near the surface to a long-hole stope near the surface. The long-hole stope, we had to plan for about 4 m, much less for resue. More impact in the crown pillar scenario that was estimated. Part of the, the approach now is to do some drilling near surface to see if we can show that there's, there's better rock quality at surface than was provided before. There's about 1.5 million ounces that are sterilized because of the crown pillar. Another area of loss was a historic void that was found in the Babicanora Central area on the Babicanora Main vein, and we are actually in there now to see if it's as bad as we're thinking it is from a drilling standpoint. We can put in structure in order to, you know, continue mining and retrieve some of those ounces from there. Again, that area is sterilizing somewhere between 1 million-1.5 million ounces right now. We'll take the approach and, and working on that. Perfect. Thanks for that. Maybe just one more for me, and then I'll leave it for, for other people to ask questions here. On the exploration front, you know, you mentioned kind of these near mine opportunities and then some of the, call it more, call it generative exploration targets, but still near, near, in, near the mine footprint. When could we expect to see results that kind of step outside the current M&I and inferred envelope and start to kind of add incremental ounces beyond what you've already scoped to bring into the, the mine plan over the next little while? Well, we're already on that plan. We have five drills that are pursuing our phase one priority targets right now. I would expect to see some news out on those in you know how it goes, assay labs and, and compilation and everything. You know, before the end of the year, we, we should have our first shot at, at news on that. Also, the El Picacho property, very little drill work on it since last year. We're waiting for some permits there, and we've allocated the team that was on, working on El Picacho into the regional area, and we're looking at regional targets. We have what's called the 30-60-90 Program. That's 30 km, priority 1 km to 90 km away from Las Chispas, which we feel is transportable to Las Chispas. We're there's a big push right now to look at opportunities within that program. Great. Thanks so much. I'll, I'll leave it there for now. Okay. Thank you. Again, ladies and gentlemen, should you have a question, please press star followed by the number one on your touchtone phone. Your next question comes from the line of Philip Ker from PI Financial. Please go ahead. Thanks, operator, and, congrats to everyone on the SilverCrest team there. Obviously, a lot of man-hours went into completing this, this study and update here. First question, just on the mine contractor costs, the press release noted that negotiation were currently suspended. Could you just elaborate on how you came to those current the cost metrics within and outlined in the study, and how those numbers are reconciling to your recent costs? Yeah, thanks, Phil. Obviously, I cannot get into detail of the contract with our mining contractor, but I will, I will say that each of the cost model, the G&A cost model, the plant cost model, and the mine cost model, were all calibrated to actual cost. Okay? In addition, as we knew that our mining contractor was under pressure and their margin were actually, from the word of the owner, getting pretty thin, even though we have a firm, a firm-based contract for five years, without escalating clause, we accepted to open up discussion. They have made some, some requests there, and for the moment, because we had to focus on, on this report, we asked them to be patient and told them that once we have the technical report out, we would return and discuss with them. You know, as you probably seen on the news release, we have allocated some increase starting in 2024 on this contract. You know, we'll see how it goes in, in H2. The contractors suffer from the same issues we're having in the country, and the first one is certainly the manpower. It's, it's really critical to have good people, to have less turnover, and we're going to try to help them on that front. The other component that the contractors are facing is the change in the exchange rate between the U.S. dollar and the Mexican peso. This has increased significantly over the last little while. We are of the opinion that over time, it will restabilize around 20:1. Okay. Yeah, understood there. Maybe another kind of follow-up question here on, on mining activity. You know, the, the study focused on, you know, lateral development of approximately 40 m a day. Could you clarify, you know, how deep each round typically is, and how many different headings may be required to achieve that development rate? We're doing roughly 3.4 m, 3.5 m per shift, and at this point, we're running at roughly 34 m, 35 m. We have days better, some days not so good, but on average, these days we're around 35 m per day overall, with all the faces we have available. It's, it's, it's really not a matter of number of faces. In our case, we have plenty of faces available. We're well ahead on, on the development. We're in good shape on that front, and we're trying to prepare the operation to be two or three level ahead of what of where we are. It's a big, big focus of that we have at the operation level to make sure that we can meet our production target. You know, starting next year, we're gonna have a, we already actually have a third portal, and, within, I suspect three or four months, we should have several faces available at Las Chispas as well, which, which is gonna help Rosie actually on the exploration program in the H2 of next year. Okay. Okay, that's great, appreciate your time today, and congrats again. Thank you. There are no further questions at this time. I'd now like to turn the call back over to Mr. Eric Fier for any closing remarks. Thank you, everyone, for attending today. We look forward to providing our Q2 2023 results in just over a week, on August 9, and hosting another call to discuss those results on August 10 at 11:00 A.M. Eastern Standard Time. Thank you again. Thank you, sir. Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and ask that you please disconnect your lines. Have a lovely day.