Mineros' financial are reporting and operating results for the third quarter of 2025. My name is Diana and I will be the operator for today's call. In this moment, all participants are in listening mode. At the end of the presentation, there will be a Q&A session in the web platform only. Please keep in mind that this presentation of results is being recorded. The presentation of today will be mainly held in Spanish with simultaneous interpretation into English. We remind you that if you have any difficulty when seeing the slides, you may maximize the window called slides. From this moment, I give the floor to Juan Camilo Obando. He is the director of relationships with investors and insurance companies. Mr. Juan Camilo, the floor is yours. Good morning and welcome to Mineros' financial and operating results for the third quarter of 2025. My name is Juan Camilo Obando and I am the Investor Relations Manager. The original language of this call will be Spanish. However, if you wish to listen to it in English, please follow these two steps. First, identify the box that says English. Please remember that this call may include forward looking information. Actual results may vary due to inherent risks in mining. During this presentation, several financial metrics that are not standard under the IFRS will be referenced. For a detailed explanation of these measures and their calculation, please refer to our section 10, our MD&A available in investor sections under the Financial Reports menu on our website. Joining me in the room today are David Londoño, CEO of Mineros, David Splett, CFO, Sergio Chavarria, Financial Manager, Santiago Cardona, Vice President of Colombia, and Inivaldo Díaz, Vice President of Nicaragua, and Isabel Gaviria, Vice President, Legal and Sustainability, and additionally joining us by pho`ne is Wilkinson, Vice President of Investor Relations. I'll hand the floor to David Londoño. Good morning and thank you for joining us today. During today's call, we will present the key highlights followed by the quarter's financial results, our operational performance, a review of each operation and finally our opportunities and outlook. For the third quarter of 2025, we delivered a solid gold production nearing 55,000 ounces. This figure underscores the operational consistency of our assets in Colombia and in Nicaragua, which is key to achieving stable production. We emphasize that this growth has been accomplished while always maintaining safety as the top priority in our operations. Gold production stands at 163,000 ounces for the first nine months of the year. This represents a 2.5% increase compared with the 159,000 ounces reported for the same period in 2024. We had a record net income which reached $54 million for the third quarter and accumulated net income year to date of $136 million. We generated positive free cash flow of $62 million in the third quarter and a total of $106 million in net free cash flow. For the first nine months of 2024, we concluded the share buyback program that was approved earlier this year by the shareholders, General assembly and subsequently by the Board of Directors. The company repurchased a total of 3.9 million shares at a price of COP 12,000. This operation finished on September 12th. Finally, we acquired 80% of La Pepa Project from Pan American Silver Corporation. This transaction of $14 million grants us 100% ownership of this gold exploration asset in Chile, providing us full control over its future development plan. As we will detail next, our excellent operating performance directly translates into strong financial results. These achievements reflect our discipline in operational efficiency, the strength of our assets, and our ability to consistently and safely generate value. We maintain a very optimistic outlook for the company and remain committed to sustaining this trajectory of growth and success. I will now hand the call over to David, who will discuss the financial performance for the quarter. Thank you, David. Good morning. Let us begin with the income statement for the quarter. As a reminder, all figures are expressed in millions of dollars. In the third quarter of 2025, the company achieved significant revenue growth of 39%, reaching a record figure of $196 million. The main driver of this result was a 40% increase in the average realized gold price. Consistent gold production in Colombia and Nicaragua, coupled with our strict cost discipline, were fundamental to these results. Our gross profit saw an increase of 49%, reaching a record figure of 82 million, and net income stood at $54 million, representing 90% growth. This implies a significant advance versus the $29 million reported in the third quarter of 2024. In terms of liquidity, net free cash flow was approximately $63 million. This result is calculated after covering the payment of $7.5 million in dividends, $7 million in sustaining capital expenditures and $0.4 million in interest payments. The cost of sales increased by 33%, primarily because the higher gold prices are reflected in the greater cost of purchasing or from artisanal cooperatives, in addition to an increase in depreciation and amortization. On this slide, we present a summary of our financial results. Through the end of September 30, 2025, the company's revenue grew by 39%, totaling $538 million. This solid increase was primarily driven by a 40% increase in the average realized gold price. Coupled with 2.5% growth in gold ounces sold, we achieved significant profitability expansion. The gross profit and adjusted EBITDA registered increases of 70% and 59%, respectively, reaching 221 million and 244 million. Net income experienced 114% growth during the first nine months of the year, increasing from $63.4 million in the same period of 2024 to a record figure of $136 million at the close of September 2025. The cost of sales increased by 23% during the first nine months of the year. This is primarily attributed to the higher cost of purchasing material from artisanal miners cooperatives due to the increased gold price in addition to higher taxes and royalties. Let us now look at the Adjusted EBITDA. This key indicator reached a record figure of $90.3 million at the end of the quarter, representing an increase of 44% compared to the $62.9 million registered in the Q3 from 2024. This expansion is directly attributable to strong revenue growth, primarily driven by the favorable increase in gold prices. Finally, let's review the cash position. Net cash flows from operating activities generated $204 million from the sale of gold, silver and electricity. This was after payments to suppliers totaling $103 million, employee salaries and benefits, payments for $15 million, and tax payments amounting $11 million. Cash flow utilized in investing activities was allocated to purchases of property, plant and equipment totaling $16 million, and strategic investments in intangible assets and exploration projects of $45 million. Regarding the cash used in financing activities, the main components were dividend payments of $7 million and the amortization of financial obligations totaling $9 million. Our current credit and loans balance stood at $17.6 million, while the cash and cash equivalents balance was 102.2 million, a highly significant figure despite the capital expenditures incurred, including the La Pepa acquisition. With this review, I will now turn the floor over to David and this finalizes our operational indicators who will present the operational indicators. Thank you so much, David. Let us now discuss our operating indicators. This chart summarizes our operating performance over the last five quarters. As you can observe, the total production for the third quarter remained stable and consistent compared to previous periods. This is a direct reflection of our strong discipline and operational execution across all our assets. As clearly visible on the green line, the average realized gold price per ounce in the third quarter of 2025 reached $3,464, which represents a significant 40% increase compared to the same period Last year we emphasize that our margins continue to show a positive trend and here we can see graphically how the gap between our average realized selling price and our costs continues to widen, indicating continuous margin improvement. On the cost front, we registered an increase of 38% in cash cost and 34% in AISC, which stood in $1,704 and $1,982 per ounce respectively. This increase is primarily explained by the rise in the cost of sales largely associated with the purchase of or from artisanal mining in Nicaragua. As David mentioned that before, I will now turn the floor over to Santiago Cardona, our Vice President of Colombia, who will present the results and details of our alluvial operation. Following that, we will continue with Inivaldo Diaz recently assumed the Vice Presidency of Nicaragua and who will offer us a comprehensive overview of Gekko operation. Thank you, David. In Colombia, we achieved a production of 23,000 ounces during the third quarter, which represents a 16% increase compared to the same period in 2024. This growth was primarily driven by lower dilution and the optimization of overburden removal and the hydraulic level control of the pit. The AISC per ounce of gold Salt increased by 13%, reaching $1,573 per ounce. This is primarily due to the increase in gold prices which directly impact the cost of operating contracts in our formalization contracts, more taxes and royalties related to this price, also the increase associated with the year over year change. Additionally, during the quarter we saw the commissioning of the Aurora plant contributing to our growth strategy and technological renewal aimed at optimizing recovery in our operations. Finally, our occupational health and safety indicators continue to report very low values, highlighting our safety performance. This is the result of our robust and effective prevention culture and demonstrate that safety is a core value and a pillar of our operational excellence. With this, I conclude the presentation of our operations in Colombia and I will now turn the floor over to Inivaldo Díaz, Vice President of Nicaragua. Thank you, Santiago. In Nicaragua, Q3 production remains stable, registering 32,000 ounces. This figure is 5.4 below the production from the third quarter of 2024. This variation is primarily due to a 9.5% decrease in tons milled, though it was partially offset by a 4.6% increase in the process grades. Of the 32,000 ounces produced, 83% originated from the artisanal production. Consequently, 58% of the total cost for the third quarter is directly associated with this artisanal output. The AISC recorded a 52% increase 80% of the increase of the AISC is due to higher purchases from artisanal mining 26% above compared to the same quarter from last year, which is explained by the prioritization given to artisanal mining over the industrial mining. The feed blend shifted from a 55% artisanal 45% industrial mix in the Q3 of 2024 to a 20% artisanal 30% industrial mix in the Q3of 2025. Adding to the higher purchasing volume is the price effect which is 40% higher in Q3 2025 versus the same period in 2024, leading to a greater volume of purchases in 26% and 40% higher price. Finally, in July the decision was made to begin stockpiling high grade or purchased from Artisanal Mining for special processing at the Bismiza plant. This required upgrades including replacement of the coin crusher, major repairs to the agitation tanks and other circuit adjustments. The plant was shut down for nearly one month affecting quarterly operational costs and production. By September we began achieving the anticipated results. The ore inventory generated at the stockpiling Pads amounted to 5,604 ounces of which 4,527 ounces are from the artisanal mining and 1,077 ounces are from industrial mining. The benefit of this initiative to batch process the high grade material is the increase of metallurgical recovery by enhancing, increasing the residence time and reducing the gold content in the leech tails. With this I conclude the results for Nicaragua and I turn the floor back to David. Thank you very much Inivaldo. Let us now discuss our opportunities and outlook. I want to start by highlighting the solid progress in near mine exploration which is crucial for the future sustainability of our operations. During the third quarter of 2025 we completed a total of 9,806 m of diamond drilling. This brings our year to date cumulative total to 29,252 m, maintaining an excellent pace of exploration. Moving to the Porvenir project, we continue working to advance on the following key stages. We are proceeding with the update of the pre feasibility study with the that will be finished by the end of the fourth quarter. Operating and capital costs within the project's financial model are currently being updated in parallel. We are in the process of reaching an agreement with the community and authorities to define an environmental compensation plan. This is a fundamental step for the submission of the environmental management plan for the process plant. The Greenfield exploration campaign, focused on new discoveries, began drilling in July 2025 and currently we have three drill rigs operating on site. We have completed 6,688 drill meters during the year. Finally, regarding the La Pepa project, as we mentioned earlier, we have completed the acquisition of 100% of the project. We are currently focusing our team's efforts on advancing the exploration plans which we expect to commence next year. 2025 has represented a key period of strategic consolidation for Mineros characterized by a substantial transformation and the establishment of unprecedented financial milestones. These achievements reaffirm the robustness of our strategy and our unwavering commitment to generating sustainable value for our stakeholders. From a financial perspective, management has demonstrated operational excellence. Productive discipline has ensured a stable and safe operation driving the achievement of record revenue. At the corporate level. This operational efficiency has directly translated into a significant increase in profitability, materialized as a record EBITDA record net income and an outstanding generation of free cash flow. We have maintained a stable dividend program and we have observed the market validating our execution which has resulted in a very positive share performance during the year. On the corporate front, we have worked to secure the foundation for future growth. We have successfully completed the redefinition of the corporate strategy providing a clear framework for the next phase of growth. We executed the share buyback program thereby returning additional capital to shareholders and significant operational progress has been achieved highlighted by the commission of of our Aurora plant. Our geographic expansion strategy is consolidating with the total acquisition of the La Pepa project, integrating a new high potential jurisdiction into our operations. Finally, we continue to invest in our exploration pipeline with important advancements in greenfield exploration and in the development of the Port Ranier project, ensuring long term sustainability of our operations. This concludes our presentation. We would like now to open the floor for questions. From this moment we will start the Q & A session. If you have a question, please write it in the Q and A field in the web platform. We will not receive receive questions by any other means. Questions in English will only be received in the Q & A box of the webcast. Thank you so much. Let's start with the Q $& A session. First one comes from Lucas Carvajal and he asks why is it possible to have a debt in the company if the most attractive part of the company is a very healthy balance? So the opportunity of financing was open and we decided to try the market. For that we have to have enough cash flow when an opportunity comes and that opportunity is now. Unfortunately, when we were going to get the market or go to the market, the conditions were not favorable. We obviously have a plan to grow to grow as a company. And we have this journey to grow at 300,000 ounces per year and even more in the next three years related to the investment with Porvenir and Elvial as well in HEMCO as well. And we are going to invest 200 or $300 million related to this plan for growth organically, for growing organically. And also we want to maintain maximum liquidity if there is a chance to buy an asset or to buy a mine or something that is attractive. But we still need to identify that opportunity. Thank you so much. Next question comes from Mr. Simon Londono. Good morning. Thank you so much for the presentation and congratulations for the results. Would you consider the possibility of starting a new buyback program? Thank you so much for your question. That's a decision made by the assembly. We are open for this decision from the assembly. And also there's another perspective from the previous point. We want to grow this company in the gold production and it is feasible that this growth has more value for the shareholders even more than the dividend. So our preference is to maintain the dividend in about 30 million per year and maximize the growth plan of production. Thank you so much. We have two more questions from Mr. Jason Chen. Could you please inform us the schedule for the final decision about Porvenir? If the pre feasibility study is presented in the next year, will you have a definite study before approving the pre project or the feasibility project is enough so the assembly approves that project. Thank you, Justin. I would like to start first by saying that we are finishing the pre feasibility study. We will finish that in December at the end of the fourth quarter. And this will give us the possibility to perform a feasibility study that is going to be quite fast because this pre feasibility study study is the second time it is performed. It has more details. It is almost a feasibility study. We only have to work on a detailed engineering so we can make that decision. I think that's that those that's going we're going to make the decision at the end in the middle of next year. We're applying all. Thank you David. The Next question from Mr. Justin Chen. They ask about this talk of capital. The working capital and the fiscal capital have a significant impact in the fourth quarter. They prevent. Do you prevent that there is any temporary factor that will affect the cash flow or will it be maintained based on the AISC? I'm going to respond. Impact cash flow in a material manner. We do not do not experience important changes in our balance sheet or in our cash flow. And Sergio There is something that we need to deep dive in this part. The taxes of the company are paid during the whole year as down payments or advance payments. And when we have this payment related to taxes after liquidations. Thank you so much. Next question from Mr. Lucas Carvajal. With the commissioning of the Aurora plant, how much are you expecting to increase the production? I'm going to start responding this question and then Santiago will respond. Colombian VP I think the commissioning of the Aurora plant is a total success and it will improve production and the performance in Colombia. So it depends on our mining plants and the management that we will have at this plant will covers 5,000 cubic meters additional cubic meters per day. A production that we are adjusting as a project and that we expect to have this year between 1500 ounces additional ounces. And next year we will explain you the plan for the mining process. Next year we will inform that. Thank you so much. Next question from Pamperi. Congratulations for this great quarter. I am highly excited for Q4 as the gold price has risen even further. Can you guide any sort of budget for De La Pepa in 2026 for the exploration program? Thank you so much. First, in. In. In Spanish I'm going to speak so La Pepa, could you please. We have planned to start the exploration in this moment. We are working to get the staff that is going to work in La Papa and we would start exploration next year when all the consultants and all the people are in the site. I think we're going to spend. We will have an additional budget of $5 million. Thank you, David. Next question from Mr. Juan Soto. What is the forecast of production that you have for 2026? Thank you so much, Juan, for that question. In this moment we are finalizing the budgets and we are internally reviewing how this is going to be. But I think we will see a slight increase in production in both operations. It could be 2% or 3%. Thank you, David. This is from Alejandro Correa. What's the forecast of the company with the gold prices in 2026? What is the retrieval in monetary resources are you expecting from Projecto La Pepa in Chile? And when would you start the expiration date phase? So the forecast. We don't work with the forecast of the gold prices. We control the costs, but not the price. We assume that for the next year's production the price should be. We could have this forecast of. With 15 different banks and the forecasts related to 2026, it's in the range of $4,000 per ounce. But we are going to use this last forecast from 2025 that could be ready by December, we are going to use that forecast. And in terms of the second question of the part of the question about the La Pepa project in Chile, what is it that we expect? We expect to start exploration and all the studies next year. I think exploitation that would be planned for between 507 years. While we do all the exploration, we have to do the pre feasibility study. The feasibility study. And that will take a long time and obviously acquiring or getting all the permits that we need. So we are just starting in to do these works. Thank you, David. Next question from Alfonso de Maris. What happened with the silver production? In terms of silver? That is due to the adjustments that we had in this Vesmisa plant that was the adaptation to process the high grade minerals ore. We process less tons because we are working under this batch processing modality because high grades increased substantially during this quarter. So this led us to process less tons and focusing the recovery of gold. And we run the tests of recovery and the amount of silver has also decreased. Thank you Inivaldo. Next question from Mr. Pexon. Thank you very much for the presentation. We know that you are in pursuit for inorganic opportunities across different geographies. I would be grateful if you could give us more color on which countries or jurisdiction you favor over others. Thank you so much. Thank you for this question. We will always see opportunities in different geographies. Obviously we prefer to be in the same time zone. But if we see opportunities that are smart opportunities for us, we will study them. Thank you so much. Next question from Mr. Mejia. Congratulations on the results. The evaluation that the shareholders have received is quite high. What's the reason of the reduction of production HEP Co and how is Guillermina doing? The answer is the same that I replied before this thing about the Smith plant that we are using for processing the high grade ore and that reduce the production tons. And in terms in relation to Guillermina, we continue with the exploration plan. We are doing the drillings and we are expecting to receive the results. But it's promising. We expect that that brings more resources to the operation. Thank you. Inivaldo. Next question. This is from Simon Londono. Could you please update the guidance in relation to the ounces production and capex considering the and capex considering the new projects. Thank you so much for that question. The guidance does not change in this moment for 2026. We see the guidance in the Q1 in January and we will have this guidance for production, exploration and capex. Thank you so much. We see this from Pablo Castro. We see an increment in the brownfield exploration. Is this a change in the strategy under the new administration? Do you see any potential in the current mines for this increment in the exploitation? Yes, indeed. Thank you for that. We have to increase the brownfield exploration. And the reason for this is that we want to replace the year's production in both touristic jurisdictions. For us this is very important to have this certainty about the budget that we are making. So this is change in the strategy. Increase those expenses in exploration. Because in the end this gives a lot of profitability. We have always said that Nicaragua has a very good perspective. It's an area with a good perspective. And we expect to have very good results with increasing the exploration. And in Colombia this has been very consistent and the fact of increasing the exploration. So we are sure about what we are going to produce in the next five years. Thank you, David. We have another question. Why the underground production of gold has decreased in 44% and what are the future plans for the underground sector in HEMCO? Our bottleneck is the capacity for processing. We currently see an increase in the contribution of the artisanal miners that because of their activity their grade doubles what we obtain in the industrial mines in our mines. So seeing the plan and this, the sequence is adapted and we give preference to the ore from the artisanal mining above or on top of our own mining. So we are increasing the processing capacity in our plants. That's part of our growth plan. In our capacities. Maintain a constant balance. Measuring the grade that we get from the artisanal versus the acquisition cost against the cost of mining in the underground at a specific point in time. More valuable to the company to utilize more of the artistic material. Recognizing we have bought in that demand. That is, that's why we're investing the. Money. To grow production in Nicaragua. Thank you. Evit. We have a question from Cristo May. Congratulations. Could you please detail your investment plan for the funds that come from a possible bonds emission. How is the return of investing in the new mines? Thank you so much. [Foreign language] So we have this road of growth to 300,000 ounces in relation to the investments in Porvenir that we could create a lot of value for our shareholders with this organical growth and to maintain this liquidity. In case there is an available. This question is from Juan Soto. What's the forecast for Capex and for which type of investments. Would you destin these funds? The answer has just been given by David. But just to repeat that a little bit. It's $170 million or $200 million that we want to invest in the construction of Porvenir and about $45 million that we have for the expansion of the bottleneck in Hemco and the possibility to have more production or improvements in the performance in the Chi with the acquisition of this plant. Thank you, David. Next question. That comes from Santiago Maso. Good morning everyone. Could you please give us a guidance of the dividend for 2026? This is something that is defined in the assembly in March. So we cannot give you a guideline of how much it would be. Well, thank you so much. With this we close the Q and A session for this call. For the result of the third quarter, 2,025. Thank you so much for your participation and I will see you in the next quarter. School. Thank you very much. With this we finish today's conference. Thank you so much for your participation. You may disconnect from the call.