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8/13/2020
Good morning, ladies and gentlemen. Thank you for standing by. Welcome to Wheaton Precious Metals 2020 Second Quarter Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star, then the number 1 on your telephone keypad. If you'd like to withdraw your question, press the pound key. Thank you. I would like to remind everyone that this conference call is being recorded on Thursday, August 13, 2020 at 11 a.m. Eastern Time. I would now like to turn the conference over to Mr. Patrick Drouin, Senior Vice President of Investor Relations. Please go ahead.
Thank you, Operator. Good morning, ladies and gentlemen, and thank you for participating in today's call. I'm joined today by Randy Smallwood, Wheaton Precious Metals President and Chief Executive Officer, Gary Brown, Senior Vice President and Chief Financial Officer, and Haytham Hodaly, Senior Vice President, Corporate Development. I'd like to bring to your attention that some of the commentary in today's call may contain forward-looking statements. There can be no assurances that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In addition to our financial results cautionary note regarding forward-looking statements, please refer to the section entitled Description of the Business Risk Factors in Wheaton's Annual Information Form and the Risk Identified Under Risks and Uncertainties in Wheaton's Annual MD&A both available on CDAR and in Wheaton's Form 40F and Wheaton's Form 6K both on file with the U.S. Securities and Exchange Commission. And in addition, Wheaton's MD&A for the three months ended March 31, 2020 available on CDAR and Wheaton's Form 6K filed May 7, 2020 with the U.S. Securities and Exchange Commission. These documents together with the Q2 2020 MD&A and the press release from last night set out the material assumptions and risk factors that could cause actual results to differ, including, among others, fluctuations in the price of commodities, impact on Wheaton or mining operations from which Wheaton purchases precious metals as a result of an epidemic, including the COVID-19 pandemic, risks related to mining operations from which Wheaton purchases precious metals, the continued ability of Wheaton's counterparties to satisfy their obligations under precious metal purchase agreements, and the impact of any material change in fact, law, or jurisprudence on the CRA settlement. It should be noted that all figures referred to on today's call are in U.S. dollars unless otherwise noted. In addition, reference to Wheaton or Wheaton Precious Metals on this call include Wheaton Precious Metals Corp and or its wholly owned subsidiaries as applicable. Now I'd like to turn the call over to Randy Smallwood, our President and Chief Executive Officer.
Thank you, Patrick, and good morning, ladies and gentlemen. Thank you for joining us today to discuss Wheaton's second quarter results of 2020. Before I begin, I would like to start off by saying that I hope everyone has been keeping healthy and safe since our last quarterly conference call. At Wheaton, our top priority remains the health and safety of our employees, our partners' employees, and the communities in which we operate. We continue to follow guidance from local health authorities on best practices to reduce the spread of COVID-19. I will provide further details on Wheaton's response to COVID-19 and impacts on our partner mining operations after Gary discusses our second quarter results. On that note, I am pleased to report that Wheaton delivered solid results in the first half of 2020, generating over $500 million in revenue and nearly $330 million in operating cash flow. While production in the second quarter was impacted by temporary shutdowns of some operations, sales volumes remained strong. and resulted in a record 322,000 gold equivalent ounces being sold in the first half of 2020. So now I'd like to turn the call over to Gary Brown, Senior Vice President and Chief Financial Officer, who will provide more details on our results. Gary?
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