Good day, ladies and gentlemen, and welcome to the Compañía de Minas Buenaventura third quarter 2022 earnings conference call. At this time, all participants are in a listen-only mode. Please note that this event is being recorded. I would now like to introduce your host for today's call, Mr. Gabriel Salas, Investor Relations. Mr. Salas, please begin. Good morning, everyone, and thank you for joining us today to discuss our third quarter 2022 results. Today's discussion will be led by Mr. Leandro García, Chief Executive Officer. Also joining our call today and available for your questions are Mr. Daniel Dominguez, Chief Financial Officer, Mr. Juan Carlos Ortiz, Vice President of Operations, Mr. Alejandro Hermoza, Vice President of Sustainability, Mr. Renzo Macher, Projects Manager, Mr. Juan Carlos Salazar, Geology and Explorations Manager, Mr. Roque Benavides, Chairman, and Mr. Raul Benavides, Director. Before I hand our call over, let me first touch on a few items. On Buenaventura's website, you will find our press release that was posted yesterday after market close. Please note that today's remarks include forward-looking statements that are based on management's current views and assumptions. While management believes that its assumptions, expectations, and projections are reasonable in the view of the currently available information, you are cautioned not to place undue reliance on these forward-looking statements. I encourage you to read the full disclosure concerning forward-looking statements within the press release we filed on October 27, 2022. Let me now turn the call to Mr. Leandro García. Thank you, Gabriel. Good morning to all, and thank you again for attending to this conference call. We are pleased to present the results of third quarter 2022 from Compañía de Minas Buenaventura. As always, we have prepared a PowerPoint presentation which is available in our webpage. Before we go further, please take a moment to review the cautionary statement shown on slide two. Moving on to slide three, the highlights of this quarter were as follows. Third quarter 2022 EBITDA from direct operations was $22.2 million compared with $39.5 million reported in the third quarter 2021. Third quarter 2022 operating cash flow reached $16.1 million compared to -$464.3 million in the third quarter of 2021. Third quarter 2021 operating cash flow was $544.2 million including payment to SUNAT, the Peruvian tax authority. Third quarter 2022 net loss was $19.8 million compared to a $91.9 million net loss for the same period in 2021. Third quarter 2022 exploration at operating units in each unit increased to $20.7 million compared to $17.1 million in the third quarter 2021. This increase is aligned with the company's review strategy to increase its focus on exploration in order to extend our life of mine. The results of the exploration campaign in Yumpag are very encouraging. We are outlining a high silver grade deposit, and we believe there is a potential resource that will allow us to at least double the amount of silver ounces we have reported up to now. Buenaventura's cash position reached $288 million as of September 30, 2022. Net debt decreased to $448.1 million with an average maturity of 3.6 years. Third quarter 2022 capital expenditures were $37.2 million compared to $23.9 million for the same period in 2021. Third quarter 2022 CapEx includes $5.2 million related to the San Gabriel project and $7.3 million related to the Yumpag project. Construction related activities at San Gabriel are gradually and progressively resuming. Buenaventura has therefore updated its CapEx guidance for San Gabriel and now expects this to reach approximately $65 million by the year-end 2022. Moving on to slide number four, our ESG corporate strategy. Here we will find some key indicators regarding our ESG efforts. We have completed our carbon footprint measurement in all units, as we announced this in last quarter. With this tool, we know, now how much CO2 we generate, and our next step is to develop a plan to reduce these emissions. The full report can be found in our website. Moving on to slide five, our financial highlights. Total revenues during the third quarter were $195 million, which is 11% lower in comparison to the third quarter of 2021. In the nine months of the year, total revenues decreased to $578 million compared to $647 million during the nine months 2021. As mentioned before, our EBITDA from direct operations for the third quarter 2022 was $22 million in comparison to $39 million during the third quarter of 2021. EBITDA from direct operations for the nine months of 2022 decreased to $96 million in comparison to $145 million during the first nine months of 2021. These years exclude the Yanacocha transaction effect. Also, our net loss for the third quarter of 2022 was $22 million, in comparison to a net loss of $94 million during the same period in 2021. Net income for the first nine months of the year reached $534 million, compared to a net loss of $41 million for the same period in 2021. The increase is explained by the Yanacocha transaction. The CapEx increased to $37 million in the third quarter of 2022, compared to $24 million in the third quarter of 2021. In the first nine months of the year, CapEx totaled $93 million, a 60% increase in comparison to the first nine months of 2021. Moving on to slide six and seven, our attributable production. Total gold attributable production in the third quarter of 2022 was 56,000 ounces, which is 2% higher than the figure reported for the same quarter of the previous year. This increase is mainly explained by the stable production from the Pucara vein and at Orcopampa, but partially offset by lower production at El Coimolache. In the first nine months of 2022, total gold attributable production was 153,000 ounces, 10% higher than the same period in 2021. Silver attributable production for this quarter was 1.7 million ounces, which shows a decrease of 50% compared to the figure reported in the third quarter of 2021. During the first nine months of 2022, silver attributable production was 5 million ounces, 49% lower than the first nine months of 2021. This decrease was mainly explained primarily due to the suspension of Uchucchacua's operation, as we previously announced, and a change in the mine plan sequence at El Brocal. In the third quarter of 2022, 7,000 metric tons of zinc were produced, a decrease compared to the third quarter in 2021. In the first nine months of the year, zinc production reached 22,000 metric tons, 30% lower than the same period in 2021. In the case of lead, equity production was around 4,000 metric tons in the third quarter of 2022, which is 28% lower in comparison to the third quarter of 2021. In the nine months of 2022, lead production was approximately 12,034 metric tons, a 13% increase compared to the same period of 2021. Moving on to slide eight, all-in sustaining cost and cost applicable to sales. The all-in sustaining cost from our direct operations in the first nine months of 2022 decreased by 12% to $1,422.24 per ounce of gold. The cost applicable to sales for the first nine months of 2022 were as follows. For gold, $1,126 per ounce, which is 8% lower than a year ago. For silver, $17.65 per ounce, which is 10% lower than a year ago. For lead, $1,282 per metric ton, which is 12% lower than a year ago. For copper, $6,675 per metric ton, which is 6% higher in comparison to a year ago. Finally, in the case of zinc, the costs applicable to sales was $3,037 per metric ton, which is 43% higher than a year ago. Moving on to slide nine, pipeline, our pipeline of projects. This is an update. Here, we are presenting in one snapshot the current development level for each one of our projects. Moving on to slide 10, San Gabriel. Engineering and procurement work offsite activities progress as planned by 45% and 77% respectively, relative to total target for the project completion. This thereby reduces overall project uncertainty and potentially enabling the recovery of a portion of time lost related to this project relative to its targeted completion. We estimate to have commercial production from San Gabriel during the third quarter of 2025. Moving on to slide 11, Quellaveco. We have finished the first set of on-site column metallurgical testing. The second set of column testing will aim to improving copper recovery and controlling acid consumption. Environmental impact assessment and social engagement field work progressing as planned. Thank you for your attention. I will hand the call back to the operator to open the line for questions. Operator, please go ahead. Thank you. We will now begin the question and answer session. If you would like to ask a question, please press star then one on your telephone keypad. Please note that you may pick up, may need to pick up the handset before pressing the keys. To withdraw your question, please press star then two. We will pause momentarily for the first question. Our first question today will come from Tanya Jakusconek with Scotiabank. Please go ahead. Good morning, everybody, and thank you so much for taking my questions. I have three questions I'd like to ask. The first one is just on San Gabriel. Can you give us an update on where we are, like, in terms of actually physically starting construction? Like, where are we on the social issues that were occurring? Have those been resolved? When do we actually start breaking ground? That's my first question. Thank you. Do you want to continue with the second and the third, and then we answer, or? Okay, sure. However you want. My second question is that we have been hearing from other companies easing of inflation pressures in the costs. There's been a relief in fuel price. There's been a relief in the supply constraints. Some are seeing lower cyanide pricing and consumable steel. I'm interested in what you are seeing in Peru in terms of easing, if any, of these inflation pressures. The last one, which is for Daniel, which is the easiest one, is on CapEx. Should we still be modeling for 2022 $90-$100 million in sustaining and now only $65 million for San Gabriel? Previously, it was $100-$105. Those are my three questions. Very much, Tanya. With us is Renzo Macher, our project manager, and he will give you a comment about our status in San Gabriel. Then Daniel Dominguez will help us with the answers of the SEC, number two and three. Great. Thank you. Sure. Hi, Tanya. When we start this issue with the project, we were kind of starting the pre-construction work. Currently, I would say that we have 1% of construction, and we have resumed our activities after signing a common ground with most of the outside communities and the authorities. On-site work has already begun, and we are already training the people from the nearby communities so they can help us move this forward at a faster pace. So far, we are at a soft start of process. Okay. As I understood it, you've started construction. Right now, you're only 1% complete, but you've started. Yes. You've resolved the issues with the communities around that wasn't your communities, the further communities. You've resolved all of that and access to site is fine, and you're starting on that? Yes. Okay. There's already work going on in the onset. Can I ask, just remind me again? Yes. Of the critical milestones from today to Q1, 2025. What are the critical milestones for me to look at for your construction of this site? Towards the second half of next year, we should start our complete architectural structural job work. Then late second quarter 2025, we should be producing our first gold bar. This will be revised, probably another quarter. We have been working on with no stop on engineering and procurement, so we can recover some of this delay. Probably another quarter. Sorry. Next year, second half of next year, you're gonna start your concrete and structural work. Now you're Toward the second- -moving. Toward the second half, we're gonna have our final camp, and that's when we can bring most of the people to start construction, full construction. The concrete construction. Between now and then, earthwork. Oh, earthworks. Okay. I think I understood that we might have a bit of a slippage in the time schedule, from Q1 2025 - Q2 2025 because of this little bit of delay. Did I hear that right? Yes. Okay. No, I appreciate that. Maybe Daniel, if I could, just on the inflationary pressures, where are you seeing easing, if any? Just on the CapEx. Yes, Tanya, good morning. Anyone there? Yes, Tanya. This is Alejandro Hermoza. I just wanted to add something on the social issues of San Gabriel. Yes, for sure. What we have done after the social process we have approached these further located communities and villages. We've been successful in approaching them and establishing working spaces for them, basically to reinforce information and projects. We have opened very positive spaces with most of them and we are confident we are strengthening the whole social climate. That's why Renzo was explaining that with that confidence, we have resumed many of the field activities oriented to go into the ramp-up construction. This is an ongoing process and we feel very confident on what we have accomplished so far and we will continue on this effort to give a social sustainability to the project. Just on the social front, what have we done? Have you implemented social programs in their communities or have you implemented, you know, I know that there's jobs for construction of this mine. Yes. -and working, but- Yes. Yeah. social, what have you done to help them along? Yes. Along with authorities from the Ministry of Energy and Mines, from the environmental authorities, in most of the places we have conducted workshops, information workshops, in some cases which also gotten some agreements and explaining about our environmental management. Of course, as well, we are also working on, and as Renzo explained, into building local capacities to engage more local workers into the project. Yeah. Okay. Perfect. Thank you. Good to see that being resolved. Okay. Thank you. Once again. Sorry. If once again, if you would like to ask a question, please press star then one. There are two questions left. Right. Thanks, Tanya. Two additional questions from you. The first one regarding the inflation. Yes, we have been seeing some reductions in prices, especially in diesel and cyanide and explosives. If we can make some- Hello. Please proceed. Tanya? Yes. Anything except that you saw some relief in explosives, diesel and cyanide. That's it. Yes. Sorry, Tanya. We had a problem with the connection. If we compare the prices of some of the consumables, the nine-month period of this year against the nine-month period of last year, we have that for diesel, there is a reduction of around 10%, cyanide around 5% and explosives between 8% and 10%. Overall, we would say that we can have for the fourth quarter a reduction in inflation for consumable prices of around between 5%-8%. Also, we have labor reducing due to the higher exchange rate that we have against the dollar. Okay. Daniel, what about freight and transportation? Are you seeing any relief there? Sorry, Tanya. I didn't get you. Are you seeing any relief in freight, transportation, any, you know, transportation costs? Yes. We do. We also have been seeing a trend of a decrease in the freights. We don't have right now the amount of the percentage, but we do see this reduction. Okay. That's great. Good color. Just on the labor side, would you say do you see a relief? You said a relief there. Would you know how much%? Yes. In labor, we would say that it's around 3%-4%. Perfect. Sorry, just lastly, I don't wanna hog the call, but just on the CapEx, should I still be using $90 million-$100 million for sustaining and $65 million for San Gabriel? Well, we have revised our total CapEx for this year. We now can estimate around $190 million, from which $110 million will be devoted to sustaining CapEx. From this sustaining CapEx, $40 million will be to construct the Yumpag project. In growth, we are expecting close to between $70-$80 million, from which $65 million will be devoted to San Gabriel and the remaining for Trapiche and other projects. This is for 2022. Yeah. Preliminarily, we can say that for 2023, the CapEx should be in the order of $340-$350 million. Okay. Perfect. Thank you so much. I'll let somebody else ask questions. Thanks, Tanya. Once again, if you would like to ask a question, please press star then one. This will conclude our question and answer portion of today's conference call. I'd like to turn the conference back over to Mr. García for closing remarks. Thank you, sir. Before we finish today's conference call, I will thank again for making the time to join us. Please have a wonderful day. The conference is now concluded. Thank you for attending today's presentation. We'd like to thank you again for your participation, and you may now disconnect.