Lundin Mining Corporation

Good day.

Thank you. Thank you for standing by. Welcome to the Lundeen Mining Third Quarter 2025 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there'll be a question and answer session. To ask a question during the session, you'll need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To destroy your question, please press star 11 again. Please be advised that today's conference is being recorded. I will now turn the conference over to Jack Lundin, President and CEO of Lundin Mining. Please go ahead.

Welcome to our third quarter 2025 conference call. The financial results, press release and presentation are on our website where you can also find a replay of this call. All figures today are in US dollars and less stated otherwise. After the presentation, we'll open the floor to questions. Today's webinar will include forward-looking statements that involve risks and uncertainties. Please review the cautionary notes on slide two and the disclaimer in our MD&A. With me today is our Chief Operating Officer, Juan Andres Morel. and our Chief Financial Officer, Titor Paulson, to discuss our Q3 operating and financial results. Touching on the highlights from the quarter, consistent operational performance continues to drive solid financial results, which I'll briefly summarize on the next slide, and Juan Andres and Titor will provide additional detail shortly. We've tightened our production guidance ranges, increased copper guidance, and reduced cost guidance. reflecting the strength and stability of our operations. We continue to advance the vicuna opportunities during the quarter, given the positive momentum and many working fronts that are progressing well against the baseline plan, we felt it was the right moment to further strengthen the management team. Effective tomorrow, Ron Hochstein will be leaving lending gold to join Dave to care and the rest of the vicuna corp team, where he will support as chief executive officer of the joint venture. Ron joins a group of familiar former colleagues, many of whom were involved on the successful project phase of the Fruita del Norte gold mine in southern Ecuador, currently owned and operated by Lundin Gold. Together, the team will look to build on a successful track record by bringing the Vicuña project towards a sanctioned decision and ultimately development and operations. Our operational success goes hand in hand with our safety performance. In the first nine months of the year, we're pleased to report no major injuries across any of our operations and a total recordable injury frequency rate of 0.29, the lowest in the company's last 10 years. This achievement underscores our commitment to risk management and the effectiveness of our proactive improvements to critical controls. Lastly, as we outlined at our capital markets day in June, we're advancing several near and mid-term growth opportunities across each of our three Latin American operations. One key initiative relates to the Casaronas-Casso growth opportunity, and I'll provide an update on that towards the end of today's presentation. On the next slide, we're pleased to announce that the third quarter was the best quarter year to date by most metrics. We're seeing the benefits of a simplified portfolio, full potential initiatives, and disciplined planning, and the execution of our plans are paying off now. Copper production for the quarter totaled 87,400 tons, primarily driven by a strong performance at Cacerones from higher copper grades and elevated cathode production. As a result, we have increased annual copper guidance by approximately 11,500 tons in the midpoint. The new guidance range, is 319,000 to 337,000 tons of copper, improving by about 3.5% when you compare the midpoint. Gold production was in line with the last quarter at 38,000 ounces. And year to date, we are tracking to achieve our full year guidance. During the quarter, we produced copper at a consolidated cash cost of $1.61 per pound. benefiting from stronger gold prices and cost reduction efforts at our assets through our full potential programs. We have since lowered cost guidance to $1.85 to $2 a pound and tightened our production ranges on several of our assets as we enter the final quarter of the year. We will provide details on guidance improvements later in this presentation. And on the operational financial performance, we delivered over $1 billion in revenue in Q3, making it one of the strongest quarters in the company's 30-year history. And we generated approximately $490 million in adjusted EBITDA and $383 million in adjusted operating cash flow. We also declared our 38th regular quarterly dividend, highlighting our commitment to financial discipline and shareholder returns. There were no share buybacks in the quarter. Year to date, we've purchased or repurchase 12.6 million shares for approximately 104 million US dollars at an average price of Canadian 11.70 cents per share. With about 45 million remaining under our 150 million buyback program, subject to market conditions, we intend to complete the buybacks before the end of this year. However, any shares that are not purchased will be turned into a special dividend, ensuring we deliver on our 220 million total annual return target. I would now like to invite Juan Andres, our Chief Operating Officer, to discuss our production results for the quarter.