Good morning and welcome to today's Sierra Metals second quarter 2022 financial results. My name is Candice, and I will be your moderator for today's call. All lines have been placed on mute during the presentation portion of the call, with an opportunity for question and answer at the end. If you'd like to ask a question, please press star followed by one on your telephone keypad. As a reminder, if you can limit your questions to two questions only, please. I'd now like to hand the conference over to our host, Christina Papadopoulos, Manager of Investor Relations to begin. Thank you, Operator, and good morning, everyone. Welcome to Sierra's second quarter 2022 results conference call. On today's call, we are joined by Luis Marchese, our CEO, and Ed Guimaraes, our CFO. Today's call will be followed by a question-and-answer period as mentioned. The accompanying presentation for today's call is available for download through the webcast or from the company's website at sierrametals.com. Yesterday's press release, the financial statements and Management's Discussion and Analysis are also posted on the company's website. I'd like to note that this morning's earnings call contains forward-looking information that is based on the company's current expectations, estimates and beliefs. This forward-looking information is subject to a number of risks, uncertainties, and other factors. Actual results could differ materially from our conclusions, forecasts or projections as reflected in the forward-looking information. Additional information about the material factors that could cause actual results to differ materially from the conclusions, forecasts or projections in the forward-looking information and the material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information is contained in the company's annual information form, which is available publicly on SEDAR or EDGAR via Form 40-F or the company's website. Please note that all other dollar amounts mentioned on today's call are in U.S. dollars unless otherwise noted. I'd now like to turn the call over to our CEO, Luis Marchese, for an overview of the quarter's highlights, as well as a summary of what's ahead for the second half of 2022, followed by Ed Guimaraes, our CFO, for the financial highlights. Thank you, Christina. Good morning, everyone. Looking at slide four. Following the release of our Q2 results and the summary in the press release, you can see that this quarter provided for mixed results. At Yauricocha, although the mine processed 317,000 tons during Q2, in line with throughput in Q1 2022, high grades in all metals, with the exception of lead, resulted in 11% increase to copper equivalent pounds produced. Also to highlight, during the quarter, we reached the new high-grade Fortuna area, which has started supplying ore to the plant feed. Nonetheless, improvements at Yauricocha on a quarter-over-quarter basis have helped offset lower production coming out of Bolivar. On a consolidated basis, copper equivalent production has achieved within guidance for the first half of the year. The ramp-up effort continues at Bolívar albeit at a slower pace than expected. Restricted space for operations and limited ventilation due to the delays on new raise bore in the Bolívar Northwest Zone contributed to the overall delay, which resulted in lower throughput and grades than we had anticipated. The Bolívar mine processed 256,000 tons during Q2, or 37% higher as compared to Q1 2022. Underground, mining is being slowly discontinued at the Bolívar West Zone due to depletion and phasing into the Bolívar Northwest Zone and El Gallo Inferior. Higher copper, silver and gold grades resulting in a 52% increase in copper equivalent pound production when compared to the previous quarter. When compared to Q2 2021, throughput at Bolivar was 33% lower, and grades were lower for all metals except for gold, resulting in a 46% decrease in copper equivalent produced. The change in grade profile is due to the depletion of Bolivar West and the new contribution of the Bolivar Northwest ore body together with the low grade at El Gallo. I would like to mention that Bolivar has been operating in a difficult security environment over the last few months due to intense police and military presence in the area following recent criminal activity. Our priority is to ensure the well-being of all personnel and appropriate measures are being taken by Sierra Metals in this regard. At Cusi, throughput was 66,722 tons during Q2 2022, or 34% lower as compared to Q1. Due to the unexpected flooding in the underground mine, lower throughput and lower grades resulted in a 38% decrease in silver equivalent production. When comparing Q2 2022 to Q2 2021, the mine processed 9% lower tons of ore. Silver production decreased 4% to 0.3 million ounces. Gold production increased 13%, and lead production increased 112%. Silver equivalent production of 283,000 ounces for the quarter was in line with Q2 2021. The unexpected operational upset back in Q2, coupled with lower metal prices, resulted in a 13% decrease in quarterly revenue over last quarter and 37% over the same quarter in 2021. Specifically, closing prices for Q2 for copper, zinc, lead and silver were 20%, 24%, 22%, and 18% lower than the closing prices at the end of Q1, resulting in CAD 11 million mark-to-market adjustment to the unsettled open sales position at the end of this quarter and impacted revenue. Finally, when analyzing the overall picture, one cannot ignore the global inflationary cost pressures affecting the sector right now. In the second quarter, we were not immune to this. We experienced cost increases related to inputs such as fuel and plant consumables, reagents used in chemical analysis, explosives, and drill bits. This also impacted costs related to the hiring of contractors during the quarter for increased mine operation work and positive improvements, particularly at Yauricocha and Bolivar. As a result of all these factors, EBITDA, net income, and cash flow generation were all negatively impacted. Adjusted EBITDA for the quarter was CAD 1.4 million. Now turning to slide five. Turning to slide five and looking ahead, in the second half of 2022 at Yauricocha, we are focused on meeting maximum levels of throughput at 3,600 tons per day and continue making up for lost production earlier in the year. Higher throughput, along with higher grades from the new high-grade Fortuna Zone, will help maximize our metal production within our current mining constraints. We expect that Yauricocha's copper equivalent production will now fall within 49-53 million copper equivalent pounds. Mining and infrastructure projects also continue at Yauricocha, including work on the Yauricocha shaft, ventilation infrastructure, and the required expansion of the tailings farm. At Bolivar, we continue to our plan to increase plant throughput while still in a difficult and highly uncertain operating environment. To reflect the delays in the first half of the year and continued operating difficulties, Bolivar's production guidance has been revised to a range of 14-16 million copper equivalent pounds for the year. In addition, with the continued monitoring of the progress of our turnaround plan for the mine, we have scaled back on our capital expenditure guidance for the year, reducing Bolivar expenditures by CAD 10 million. This includes the deferral of the project to expand plant capacity. We will continue with critical infrastructure projects, including ventilation, communication, and tailings upgrade. At Cusi, guidance has also been revised with lower silver equivalent production to a range of 1 oz million-1.2 oz ounces. The area of focus remains on mine development into high-grade areas, tailings projects including equipment replacement and tailings dam development. With that, I will turn to Ed to review the second quarter financial highlights. Thanks, Luis, and good morning, everyone. Turning to slide six. In Q2, we reported a 19% decrease to our consolidated throughput, and with a decline in all grades, this equated to a 28% decrease in consolidated copper equivalent production compared to the second quarter of 2021. With lower production and metal prices declining over the quarter, revenue from metals payable decreased 37% when compared to Q2 2021, as discussed earlier. The adjustments on the open sales position as of June 30th, relative to the end of the first quarter of the year, was CAD 11 million. This impacted revenues from Yauricocha, Bolivar, and Cusi by CAD -8.4 million, CAD -2.4 million, and CAD -0.2 million respectively. Adjusted EBITDA was CAD 1.4 million, a 97% decrease resulting from lower revenues and lower gross margins when compared to Q2 2021. We reported a net loss attributable to shareholders of CAD 15.3 million or CAD -0.09 per share, and an adjusted net loss of CAD 11.6 million or CAD -0.07 per share. We finished the quarter with approximately CAD 16.4 million in cash. Our three-month revenue mix by metal continues to be led by copper, followed by silver and zinc, at 48%, 20%, and 20% respectively. Lead and gold continue to contribute revenue in line with previous quarters at 5% and 7% respectively. Looking at the average realized prices compared to Q2 2021, copper had gained much strength during this time last year, but more recently, increased fears of a global recession and declining demand in China impacted copper demand, resulting in a 2% decline in Q2 2022. Zinc and lead, on the other hand, increased by 34% and 3% respectively. In the precious metals category, silver declined by 15%, with gold increasing by 3%. Turning now to slide seven to review balance sheet and financing and liquidity highlights for the quarter. The company reported CAD 16.4 million in cash as of June 30th, 2022. Our total debt at the end of the second quarter was CAD 80.8 million, with a net debt of CAD 64.4 million. Cash and cash equivalents decreased during the six-month period due to CAD 22.5 million used in investing activities, CAD 1.5 million used in financing activities, offset by CAD 5.5 million of cash generated from operating activities. For the remainder of 2022, the company's focus will be on improving operating cash flows to improve production and cost reduction. Management will continue to review metal prices and retains the option to adjust the capital expenditures should metal prices experience any further dramatic changes within the year. In June 2021, the company commenced the quarterly repayment installments on its CAD 100 million, six-year credit facility with Banco de Crédito del Perú and Banco Santander. The repayment period is four years from its installments in the amount of CAD 6.25 million for a total of CAD 25 million annually and ending in March 2025. In June of this year, through our subsidiary, Sociedad Minera Corona, the company received approval for a CAD 25 million loan facility to refinance the quarterly installments payable in 2022. CAD 12.5 million has been used to repay the installments that were due in March and June, with the remaining CAD 12.5 million to be used to repay the installments due in September and December of this year. The CAD 25 million loan facility will become payable beginning in June 2025, with quarterly installments of CAD 6.25 million ending in March 2026. Interest on this CAD 25 million facility is 3.65% plus three-month standard overnight rate, which at the end of June 30th, 2022 was 0.29%. CAD 1 million in loan interest was paid during the six months on the loan facilities during the six months ended June 30th, 2022. The company also has further access to approximately CAD 25 million of available credit lines with local banks, as well as opportunities for other short-term lines and prepayment facilities with its commercial counterparties, should it be necessary. Turning now to slide eight. At Yauricocha, while we saw an improvement to cash and all-in sustaining costs over the first quarter of the year when compared to Q2 2021, a 46% increase in cash costs and a 32% increase in all-in sustaining costs were driven by an 18% decrease in copper equivalent payable pounds, in addition to higher operating costs. At Bolivar, again, unit costs improved over the first quarter of 2022, but when compared to Q2 2021, cash costs increased by 93% and all-in sustaining costs by 43%, driven by higher operating costs and a 40% decrease in copper equivalent payable pounds. Sustaining costs, including treatment and refining costs and capital expenditures, decreased during the quarter, but could not compensate for the decrease in copper equivalent payable pounds, resulting in all-in sustaining costs per copper equivalent payable pound of CAD 5.49, a 43% increase from the all-in sustaining cost of CAD 3.85 during the same quarter of 2021. We are seeing some improvements quarter-over-quarter, and we hope to see that trend speed up during the remainder of 2022. At Cusi, cash costs are up by 15% due to higher operating costs, while all-in sustaining costs decreased by 5% when compared to the same quarter in 2021. Silver equivalent payable ounces reported during the quarter were in line with Q2 2021. All-in sustaining costs decreased by 5% when compared to the same period as a result of lower treatment and refining charges and general and administrative costs, as well as sustaining capital expenditures. Turning to slide nine. Given the delay in the turnaround program at Bolivar, the decline in metal prices and rising costs due to inflationary pressures, we have revised production costs, EBITDA and CapEx guidance to reflect the company's current positioning. Production guidance has been lowered to a range between 70-78 million copper equivalent pounds for the year from an original guidance of 80-90 million copper equivalent pounds. While the delays in development and ventilation in Bolivar and the flooding event in Cusi are still considered temporary issues, we believe that this requires downward revision to the production estimates for these sites for the second half of the year as appropriate. At Yauricocha, though, throughput and grades are expected to improve due to the mining in the Fortuna Zones, resulting in positive adjustments to the mine's production for the second half of 2022. EBITDA guidance has also been lowered to a range between CAD 61 million-CAD 67 million from a previous amount of CAD 90 million-CAD 105 million, to reflect the decrease in expected revenues due to the decline in metal prices and lower expected throughput at our Mexican operation. Cost guidance revisions have also been applied. At Yauricocha, a decrease in cash costs is expected for the remainder of the year, given that we expect an increase in copper equivalent production. However, we have revised all-in sustaining costs slightly upwards. While sustaining costs, such as treatment and refining charges actually declined at Yauricocha in the first half of the year, it was not enough to offset the sustaining capital actually required to run the mine. We expect this will be the case in the second half of the year. At Bolivar and Cusi, we have also adjusted cash costs as well as the all-in sustaining costs to reflect higher costs associated with the lower production guidance. We have made efforts to reduce expenditures and preserve cash in order to position the company to weather any additional events that we cannot control occur. As a result, capital expenditures guidance has been lowered to CAD 59 million from our original guidance of CAD 69 million. This includes a reduction of CAD 10 million at Bolivar due to the slower than anticipated ramp-up of plant throughput, initially planned for 6,000 tons per day. At Cusi, [audio distortion] tons per day by the end of the year. As we continue to focus on the turnaround program at Bolivar, we have decided to suspend the dividend for 2022 and allocate the funds internally, so they can generate returns at a higher level than what we would be realized if the dividend was paid out. Our priority is to ensure we can get the company back on track operationally and improve our cash position and ultimately return to declaring a dividend payment. With that, I will now turn the call back to Christina. Thanks, Ed. That ends the presentation portion of this call. We would now like to open the call to questions from participants. In the interest of time and fairness, again, we ask participants to keep their questions to a limit, to give all participants an opportunity. Operator, if you can open the lines, please. Thank you. If you'd like to ask a question, please press star followed by one on your telephone keypad. If for any reason you'd like to remove your question, please press star followed by two. Again, it is star one to ask your question. As a reminder, if you are using a speakerphone, please remember to pick up your handset before asking your question. Our first question comes from the line of Heiko Ihle of H.C. Wainwright. Your line is now open. Please go ahead. Hey there. Thanks for taking my questions. In your presentation, you state that, and I quote, "Turnaround program at Bolivar is progressing," unquote. Unsurprisingly here, but arguably the site has been a turnaround story for quite a while. Just thinking bigger picture here, I mean, what tangible changes have happened in Q3 thus far? Now we're halfway through the quarter on Monday. On that same token, what do you think you'll accomplish at the site by the end of the quarter, maybe even by the year, given that you're currently also talking about, and I quote again, "An uncertain operating environment"? Thank you, Heiko. This is Luis. Our turnaround program will be going on for some time still, Heiko, because there is quite a number of issues that we are addressing in Bolivar to bring it to the required efficiency. In terms of what changes we've had during the year is basically that we are moving from the Bolivar West zone, which is pretty much depleted, there is only some recovery areas, into the new Bolivar Northwest zone for the bulk of the production. As we move into Bolivar Northwest and we can develop that area, we can increase production from it. We are adding to the production from Bolivar Northwest, with what we have remaining also from El Gallo, the pit areas that we have from El Gallo. That's going to go on for some time as we can bring more and more production from Bolivar Northwest. Eventually, next year, we'll be able also to develop an area called Cieneguita, which is further up from Bolivar Northwest. By next year, we should have both Bolivar Northwest and Cieneguita driving most of our production with better grades than what we have now. This takes time because of the nature of the business of developing. The tunnels and the appropriate infrastructure. Now, when we talk about uncertainty, we are referring to the resource categories that we're working with. As you are aware, we have quite a large part of our resource in the inferred category. As we move from inferred, we have a very aggressive drilling program. As we move from inferred to indicated to measured, then we have more certainty. But in that process, we are still mining. We are in this transition into getting to the position where we get more certainty into the resources that we mine. But this has all sorts of ramifications in what we do. That's what we refer to in terms of uncertainty. Fair enough. Building on the last question a bit. Now listen, I mean, you know, we love Yauricocha and think it's a great asset, so I'm really sorry to keep picking on Bolivar here. Just looking at the guidance that you put out, you see essentially you cut guidance in half with really only a decent upside for Q2. At the midpoint, you're implying 15 million tons of copper equivalent. Deducting the 6.8 that you had in the first half, you're looking at a 21% growth rate, given that you need, you know, 8.2 million, obviously. That's actually pretty good, and it leads to two questions that build on my prior one. What's the mine planning looking like for next year? What do you think this asset could realistically do once all your, you know, transformational changes and whatnot are completed in a couple of years? In other words, how you think the analyst community should look at the asset longer term? I think it's going to be much better than what we have now, Heiko. We're going to move into which has better grades. We are looking at increasing the throughput, reaching 35,000 tons per day. When it's appropriate, we can expand it into sixty thousand tons per day. As I said, our turnaround program is also focusing on improving efficiencies and productivity by adding the adequate infrastructure that the mine requires. Tailings facilities, the integration tunnel, the drainage, ventilation and the rest. As we move into the future, we should have a fairer and more efficient mine operation with better grades than what we have now, operating at full capacity. We are still some time from that. The other obvious side of the equation here is that we've had a hit on the price. Okay. As I highlighted during my presentation, the drop has been over 20% in most of our metals. That's taking flexibility out of how we do this process into a new operating position. We're looking at other options to manage this transition more effectively and carrying this reduced flexibility and reduced options on the way forward. All right. That's very helpful, I appreciate you get back in queue. Thank you. Thank you. Our next question comes from the line of Mark Reichman from Noble Capital Markets. Your line is now open. Please go ahead. Thank you. I guess on the bright side, with the delay at Bolivar, you might be bringing new production on in a better pricing environment in a couple of years. My question is really would you elaborate on the security situation at Bolivar that you mentioned earlier and its impact on operations and your mine development initiatives? Yes, thank you for that question, Mark. A couple of months ago, there was a very bad incident in nearby Bolivar in a town called Cerocahui, which is between Bolivar. It's like one hour from Bolivar, and it's on our access road pretty much to the mine. A local drug lord is being blamed for having killed two 80-year-old Jesuit priests together with a couple of local residents. This is certainly a major issue that has highlighted the security issues that we've been facing over time in the area. What has happened after that is that now we have very strong military and police presence in the area. Over 1,000 officers. This has obviously impacted the way we operate. We've got to be very careful on the movement of our people, our suppliers, our contractors. For a few days when this happened, it also impacted our operations because we certainly couldn't move some of our concentrate, for example, for security issues. Now it's better, but it's still ongoing. That's something that we address very seriously. We have a plan in place. We are talking with the authorities and they have been quite supportive. It's an ongoing issue, less risky than when it happened, but it's still something that we have to check into the future. Okay. Just on the deferral of the CAD 10 million of the capital expenditures, you know, I understand that that'll help you in terms of financial flexibility, but does that delay the ramp up, you know, at Bolívar in terms of the turnaround? Or do you think it's just better to time the ramp up? In other words- It's better time to ramp up. The expenditures that you're delaying. Okay. It's better time to ramp up, Mark. You would have maybe. We don't want to have idle capacity. Yeah. I'm sorry. Keep going. Okay. No, that's helpful. Yeah. Thank you very much. Thank you. Thank you. As a reminder, if you'd like to ask a question, please press star followed by one on your telephone keypad. Our final question comes from the line of Leon Cooperman of Omega Family Office. Your line is now open. Please go ahead. Two questions and a suggestion. Question number one, do you have any concern about your financial solvency and your ability to pay all your bills? Question number two, as a best guess, looking at all the moving parts, do you have any kind of sense of what the capability of producing EBITDA is in 2023, assuming present prices? My suggestion to get that out of the way is, you know, most brokerage firms charge you CAD 0.01 p er share to trade stocks, and the price of the stock is very, very low relative to the cost of commissions. I would suggest that the company consider a reverse split and put us back in the world of respectability. The first two questions, any comments on, please? Hi, Leon. It's Ed. Just to address your first question on solvency, there are no ongoing concern uncertainties at this time with our expected production and cash generation over the next 12-15 months. We're still focused very much on the turnaround plan at Bolivar. We have gone out and secured more lines of credit to help should the production estimates fall off somewhat. We have recently seen strengthening in the metal prices environment from the lows that we saw in June. That's all helpful. To answer your question number one, no. As far as the question number two, we're in the process of revising our life of mine plans, so I'm reluctant to comment on 2023 EBITDA until we have our strategic meetings set and complete our 2023 budget. Okay. You have an attitude about the suggestion of the reverse split? I think we should be looking at, considering all options. It is certainly something we're looking at. Internally, we have talked about it, and it's when to do something like that. Right now, I think it would be better to do something like that on a more positive uptrend and when we can really show the turnaround taking place. My concern with doing a reverse split now when we still potentially haven't come out of it yet with Bolivar, and that could even cause a further share price decline subsequent to the reverse split. But it is something we're looking at for sure. Okay. Thank you. We have a follow-up question from Mark. Your line is now open. Please go ahead. Yeah, thank you. I just wanted to know if you could just kind of touch on that mark-to-market adjustment on the unsettled open sales position. You know, and how can you kind of manage that and how much of that would you expect to realize? Thanks, Mark. We have with our off-takers we have essentially sales positions where once we deliver the concentrates that's at the port they have the options either pay us either one month out or four months out. They've been choosing to pay between 3-4 months out. You do have that exposure. Given the significant declines from March to June we had copper drop 24% in that period. Zinc and silver were also around the 20% mark. It's an accounting adjustment essentially where if they haven't finalized it's just a mark-to-market as of June 30th. These have somewhat reversed themselves subsequent to June 30th but it's a point in time mark. Some of that should be reversed should metal prices continue where I see them or even where they are now. You'd get a reversal of that CAD 11 million coming in in Q3. Okay. Well, that's very helpful. Just to follow up on that, is that a change in behavior that you've seen from, you know, that one month versus the three to four months out? Is that, are they just choosing to do that because of the uncertainty, or do you think that's becoming more normal? Or is it? I can't really speak for you. Yeah, I can't speak on behalf of the traders and their views on that, Mark. Okay. Well, thank you very much. That's helpful. Thank you. Thank you. As there are no more questions registered at this time, I'd like to hand the conference call back over to the management team for closing remarks. Thank you, Operator. That concludes today's call. On behalf of the management team, I'd like to thank all participants for joining us today. A replay of the webcast and all materials can be found on our website at sierrametals.com. If there are any further questions or concerns, you may reach out to us after today's call. Our contact information can be found in today's presentation as well as on the company's website. Thank you, Operator. Please conclude the call. This concludes today's conference call. Have a great day ahead. You may now disconnect your lines.