McEwen Inc.

Hello, ladies and gentlemen. Welcome to McEwen Mining Q3 2024 Operating and Financial Results Conference Call. Presented from the company today are Rob McEwen, Chairman and Chief Owner, William Shaver, Chief Operating Officer, Perry Ing, Chief Financial Officer, Jeff Chen, Vice President, Finance, Stefan Spears, Vice President, Corporate Development, Michael Meding, Vice President and General Manager at McEwen Copper, Carmen Diaz, General Counsel and Security. After the speaker's presentation, there will be a question and answer session. If you would like to ask a question during this time, press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star followed by the number one again. I will now turn today's call over to Rob McEwen, Chief Owner. Please go ahead, sir.

Thank you, operator. Good morning, fellow shareholders and interested investors. You heard who is with me today on the call, and they're available to answer your questions when we move into that period. During the third quarter and the first nine months of this year, we have made significant progress recording double and triple digit improvement in key performance metrics. As you can read in our press release, Third quarter of 24 was stellar compared to the third quarter of 23. Revenue up 36%. Gross profit up 268%. Adjusted EBITDA up 586%. Operating cash flow up at 23 million from a negative 2.3 million back in 2023. Our safety record is also stellar. We are pleased to post our records at Gold Bar, 54 months without a lost time accident. At the Fox Complex, 33 months without a lost time. And McEwen Copper, Los Azules, an amazing 1.3 million man hours without a lost time accident. During the quarter, we continued to push our exploration spending $5.3 million at the Fox and Gold Bar mines, $6.1 million at Los Azules with the McEwen Copper Project. And these expenditures we view as strategic investments and that have successfully extended the lives of our mines and they're currently treated as expenses and largely contributed to the net loss we recorded of $2.1 million, or $0.04 a share. We will be providing updated resource estimates to be released early next year. For McEwen Copper, we have raised privately over our funds, and in the last quarter we closed on $56 million, and that will be used to complete the bankable feasibility study.

for Los Azules.