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8/13/2021
Good morning, ladies and gentlemen, and thank you for standing by. Welcome to the Wheaton Precious Metals 2021 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'd like to ask a question during this time, simply press star, then the number one on your telephone keypad. If you'd like to withdraw your question, please press star, then the number two. I would like to remind everyone that this conference call is being recorded on Friday, August 13th, 2021 at 11 a.m. Eastern Time. I'd 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. Please note that for those not currently on the webcast, the slide presentation accompanying this conference call is available in PDF format on the presentations page of Wheaton Precious Metals website. I'd like to bring to your attention that some of the commentary on today's call may contain forward-looking statements and I would direct everyone to slide two of this presentation to review the important cautionary notes regarding forward-looking statements. 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 2021. I do hope everyone has been keeping healthy and safe since our last quarterly conference call. I am pleased to announce that our record sales volumes in the first half of 2021 have resulted in both record revenue and cash flow. This solid performance reflects the underlying strength of our diversified high-quality portfolio and has resulted in a 50% increase to the quarterly dividend relative to the second quarter of 2020 marking the fourth quarterly dividend increase in a row. We continue to execute on our growth strategy, closing the previously announced stream on the Eris Gold owned by Marmato Mine, or sorry, owned Marmato Mine located in Colombia and the Capstone owned Santa Domingo project located in Chile. In addition, subsequent to the quarter, we signed a non-binding term sheet with Rio2 to enter into a new stream on the Phoenix Gold Project located in Chile. Haytham will provide details on this most recent transaction later in this call. Our organic growth profile continues to advance with first production from the Papa Concha deposit at Hadbe's Constantia mine in the second quarter and at Vale's Voices Bay operation, the commencement of the transition from open pit to underground mining. I am pleased to announce that in May Wheaton published its second annual sustainability report highlighting our strong ESG performance which continues to be recognized with sector-leading scores from external rating agencies. The report looks back at a year where the COVID-19 pandemic significantly impacted lives and communities globally and reinforced the need for all stakeholders to work together to make a positive contribution. Recognizing this need, we launched a $5 million Community Support and Response Fund, more than doubling the budget for our existing community reinvestment programs. The fund was designed to meet the immediate needs of communities that are directly influenced by the mines on which we have precious metal streaming agreements. and Wheaton continues to work with our mining partners and nonprofit organizations to identify where funds could make the greatest impact and alleviate pressures resulting from this pandemic. Details on the specific initiatives supported by this fund are outlined in the sustainability report, which if you haven't done so already, I highly encourage you to download from our website. I would now like to turn the call over to Gary Brown, our Senior Vice President and Chief Financial Officer, who will provide more details on our results.
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