Sierra Metals Inc.

Good morning and welcome to today's Sierra Metals fourth quarter and full year end 2021 financial results. My name is Bailey and I will be your moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. If you would like to ask a question, please press star followed by one on your telephone keypad. I would now like to pass the conference over to Christiana Papadopoulos, Manager of Investor Relations. Christiana, please go ahead.

Thank you, Operator, and good morning, everyone. Welcome to Sierra's year-end 2021 results conference call. On today's call, we are joined by Louise Marchese, our CEO, Ed Gumeris, our CFO. In addition, our VP, Sustainability and Corporate Affairs, Gabrielle Pinto, will be available for any questions. Today's call will be followed by a question and answer period. The accompanying presentation for today's call is also available for download through the webcast or from the company's website at sierrametals.com. Yesterday's press release, the financial statements, and the management discussion and analysis are also posted on the company's website. I would like to note that this 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, and 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 publicly available on CDAR or EDGAR or via Form 40-F on our company's website. Please note that all dollar amounts mentioned on today's call are in U.S. dollars unless otherwise noted. I would now like to turn the call over to our CEO, Luis Marchesi, for an overview of the year's highlights, followed by Ed Gimérez, our CFO, for the financial highlights. Then we'll return back to Luis for a look ahead in 2022.

Luis Marchesi Thank you, Christiana, and good morning, everyone. Looking at slide four, as you are aware, 2021 brought many complications due to the impact of COVID-19. of our workforce and operations. Sierra was successful in keeping our operations from closure due to our outbreak during the pandemic and led a very successful vaccination campaign with almost 100% of our employees and contractors fully vaccinated. While quarantine requirements have been dropped, safety protocols remain in place and the health and safety of employees remains our top priority. I am pleased to say that staffing operations are well underway to normal levels. During 2021, we emerged from our strategic review process with the goal of positioning the company to focus on growing the production of copper and steel-making metals. In that context, changes were made to the Board of Directors, with Jose Vizquerra appointed as chairman and the addition of three new independent directors to our board. We welcome Oscar Cabrera, Carlos Santacruz, and Don Whitaker to our board of directors. Their combined expertise and experience will provide important perspective as we execute our strategy and deliver maximum value for all shareholders. In terms of operational development, The agriculture received its IPM permit in June, allowing for a 20% increase in throughput to 3,600 tonnage per day. The higher throughputs partially compensated for lower grades at the mine due to regulatory limitations on mining areas. But overall, upper equivalent metal production declined by 21% compared to 2020. The decline was particularly felt in Q4 when the mine reached maximum annual permitted capacity and production was halted before the end of the year. At Bolívar, we conducted an extensive review of operations and initiated a program that will cause a fast-forward to a successful turnaround of the mine in the coming year. We are focused on ensuring the right processes and people are in place, with the right checks and balances to optimize operations and realize Bolivar's true value. A cumulative backlog of infield drilling and development is being addressed, as well as lagging mine infrastructure, such as ventilation, auxiliary services, labs, mining camps, and others. We also filed an updated PEA with the inclusion of item of production, providing for a potential additional revenue scheme in the future. At CUSI, the strategic review continues in order to determine appropriate next steps for the mine. And with that, I will turn to Ed to review the financial highlights for the year.