3/19/2025

speaker
Operator
Conference Operator

Good morning, everyone, and welcome to the Andean Precious Metals fourth quarter and year-end 2024 results conference call. As a reminder, all participants are in a listen-only mode. The conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star and then one on your telephone keypad. Should you need assistance during the conference call, you may single an operator by pressing star and then zero. At this time, I'd like to turn the conference call over to Amanda Malo, Director, Investor Relations. Please go ahead.

speaker
Amanda Malo
Director, Investor Relations

Thank you, Operator, and good morning, everyone. Before we get started, I would like to point out that during today's call, we may make forward-looking statements as defined under the Canadian Securities Law. I ask that you view our slide presentation for cautionary language regarding forward-looking statements and the risk factors pertaining to these statements. Our press release, MD&A, and financial statements are available on both CDAR Plus and on our corporate website, andianpm.com. With us presenting on today's webcast is Alberto Morales, Andian's Executive Chairman and CEO, and Juan Carlos Sandoval, our CFO. In the room with me, I have our new president, Johan Bouchard, Dom Kizak, our Vice President of Finance and Corporate Controllers, And Alex Pasquale, our director of FP&A, who will be available during the Q&A period. Following management's formal remarks, we will open the call to questions. And with that, I'll turn it over to Alberto.

speaker
Alberto Morales
Executive Chairman and CEO

Thank you, Amanda, and welcome, everyone. 2024 was a transformative year for Handy and Precious Metals. It marked our first full year with Golden Queen in our operating portfolio, and despite operating at close to the lower end of our production range, we achieved record revenues of $254 million and a record adjusted EBITDA of $62.9 million. Despite our capital expenditures in 2024 of $32 million, the company generated record free cash flow of $35 million. We delivered consolidated production of 106,287 gold equivalent ounces, which was just below the lower end of our gold and silver guidance, mainly due to a temporary suspension of the crushing and stacking activities at Gold and Queen, and lower production than expected from our tailings recovery program at San Bartolome. We'll discuss the production in greater details later in this call. as well as our 2025 guidance. A key milestone was our successful uplisting to the Toronto Stock Exchange. This achievement marks an important step in elevating NDN's profile within the investment community, enhancing our access to capital markets, and strengthening our position among leading mining companies. I'd like also to welcome our new president, Johann Bouchard, to our executive team, Johan brings with him a significant operational and strategic experience, reinforcing our commitments towards improving our technical and operational excellence. Lastly, during the fourth quarter of 2024, no lost time injuries have been reported at Golden Queen or San Bartolome. As of the end of the fourth quarter of 2024, San Bartolome reached 118 days without lost time injuries. And Golden Queen reached 561 days without lost time injuries. We look forward to sharing further details on these results and answering your questions. With that, I will hand this over to Juan Carlos, who will walk you through our financials in greater detail.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

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