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That's gonna be focused on silver companies. And to kick this off, we have Fres Neil starting welcome Octavio to the stage. CEO of the company has extensive experience within the mining industry, previously held position of GM of Madero and various other roles focused in Mexico over to you. Thank you. Then, hello everyone. My name is Octavio Alvidrez and I'm the CEO of Fresnillo PLC. And thank you for attending this presentation in which I would like to give you a an update on the highlights of operational highlights, financial highlights before also coming to get more detail on the development projects that we have in our company in the pipeline, which is one of the value creation initiatives in our company. But first of all, let's go to our disclaimer and I will start with this brief introduction to Fresnillo for those who are not familiar with our company or do not know the business case of Fresnillo. And then after, as I mentioned, I'll give you some orbits on the financial and operational side. Well, we are proud to be the largest producer of silver worldwide and also the largest gold producer in Mexico. We do have eight mines in a portfolio but also four development projects in the pipeline. Good to say that underneath this is a large concession holdings in Mexico, 1.2 million hectares of exploration ground. And as you can say, those are very well placed in the geological potential areas in Mexico, some of the best mining jurisdictions in our country. And also the development on the development side, the four projects that we have in our pipeline. This is complemented with some mining concessions in Chile and Peru, approximately 600,000 in these two countries that will complement the 1.2 million that we have in Mexico. The investment proposition as remains compelling since we listed a company in London 16 years ago. We are, as I mentioned, the largest world silver producer and also a substantial gold production in Mexico leading this production in Mexico. We are always very active to manage our our, our, our assets in the best way so that we are aiming to expand our margins all the way. especially in that this recent periods in which inflationary pressures and also some headwinds in our operations, compress our margins. Since then, I mean, two years ago to now we put in place a good a number of initiatives across all of our operations, not only to contain costs but also to reduce it. And of course, lately, we've been held by the level of metal prices, gold and silver, but also the base metals that we produce sink and lead. And just recently, although we've not seen the full effect, the FX component that we will obtain an advantage for in the next coming periods as the peso he's been devaluating to the dollar. Also, on the return side, we continue to have our dividend policy in place which very much the boats or balance grow to returns. Approximately 50% of our net profit goes to reinvestment in the company and the other 50% goes to return on investors. We continue to have a strong balance sheet and especially, and just recently free cash flow net positive generation through our assets, a bit of a positive aspects on the gold and silver markets. as you as, as, as you know, I mean, given the the instability globally, economically and politically but also as a hedge to inflation and storage of, of value, gold and silver play an important role. But also, and I would say more and more uses and more and more advantages in this green transition economy for both of the metals, the other part of the equation. The supply side is also giving support to the current metal prices but also will continue to push this prices in our view higher, especially on the silver side, which in the last 10 years, I mean, there has not been a major discovery of a mining silver asset as therefore the last 4 to 5 years, I mean, the market has been in deficit supply to the demand, especially growth in the silver side. I mean the solar panels, solar energy plays and continue to play a very important role in in in the energy generation sector globally. OK. The quality of our acids of the core of our acid rely on the resources and reserves at Fres nu. And as you can see, I mean, that growth that we achieved from 2008 to 2018 was underpinned by this growth also in reserves and resources. Our company does not has not been diluting the the reserve per share. As you can see in the bottom part of the chart, this last part of the period We will address not only with the development projects that we have on the pipeline and will be developed in the next probably 4 to 6 years, but also with brown field projects that we have in our current operations. This is just a a quick view of what we've done in the last years with new operations. every year, very much we were developing a new operation but also a brown field expansion in our operations. Starting first on the gold side with Soledad de Palos, Noche Buena. Then after on the silver side with socio the expansion of socio San Julian the 1st and 2nd phase and just recently with Juan is co that we are proud to say that we accomplished during the pandemic years, but also with some of the issues that we have in the current Federal administration, some highlights on the operational side, half year. We are good to say that we confirm our guidance for the rest of the year on the gold side, a bit softer because of some particular issues on the aura district. But on the silver side, we, we are very much according to plan on the goal side we expect and we are sure that we will have a second half and that's why we not only maintain but confirm our our guidance for for the year, special mention to Siega and also to San Julian in Siega specifically great turnaround. Sie I had a very tough year in 2023 and now in 2024 is giving us a very good performance as well as San Julian in San Julian. We look forward to continue only with the vein system. The disseminator or body that we have in San Julian is about to run out of reserves as it was planned. But good to say that the vein system that we are finding on the extension of the current veins in San Julian are giving us a higher silver grades and also gold grades that are good for a better result in San Julian in the coming years, one of the main strategies in Fresnillo vision is to invest in exploration through the cycles. And as you can see the budget there, the majority of this budget for this year goes to the current operations, of course, to increase the certainty of our resources, turn them into reserves and continue the operation. And the other half goes to Greenfield exploration and brown field around our current operations. As one of the strategies is to consolidate in districts around our operations. Some words about our development projects pipeline in, in, in Orico, large ore body above 9 million ounces of gold. This is a project that is advancing through pre A and now b very much as we speak. Nonetheless, I mean, in the area in which is located, we have some other challenges to, to go around special infrastructure investment. Of course, the indigenous consultation and how to cope with energy in the area. Nonetheless, I mean, we've done the indigenous consultation as a mining company, the first one in the mining industry in Mexico with San Julian previously. So that's a path that we know how to do it rodeo. Glad to report that we had land access in order to invest in exploration, turn those infer resources into indicated reserves and continue with the feasibility in Rodeo and expected. And just from the studies that we have right now expected production for ORO would be around 220 to 240,000 ounces of gold per year. In Rodeo. We expect a lower Capex project because of the mobile equipment that we are not using anymore in Noche Buena as it is out of reserves and they will use in Rodeo in whenever it's up and running Taito on the Adua cluster. And I would like to mention this cluster as a special way in which we are approaching it and, and, and trying to bring some additional production in the area. For example, we have the project and we were producing some years ago laterally from the current pit design from Herradura additional ounces. We, we stopped that smaller operation. We went to assess how much systematically we could do it in a larger wave. And that's something that we are right now defining and we'll give you an update in the in the following in the following periods. But special mention in Guanajuato, Guanajuato in the historic silver producing district, we do have this new discovery which is giving us very good exploration results and that's something that we will continue to do so in the following periods as well. So with this set of development projects in the pipeline, we will have three gold projects in the near future, medium future and one silver one with those profiles or that profile that we like in Fresnillo with higher grades and a low cost of production. How we approach sustainability. Well, health and safety is at the center core of our of our company. As you've seen there is much more work to do there. But I mean, the current trend is giving us support to instill this culture in all of the operation exploration side in our company. On the environmental side, we continue to go at a deeper level with different studies so that we have a scientific approach to whatever commitment we do. in terms of the reduction of the of our carbon footprint and emissions up to 34,050. Good to say that the last period we were able to supply 70% of our energy needs from EOL sources from green sources. So we're aiming to go to 75% by 2030 water is always an issue also around our operations and in our communities in the Fresnillo District, the three operations source water from our sewage water plants in the in the community in the city. And, and we also are able to return some of this water for the for community issues. One very important and even more in the current situation in, in, in Mexico is the community program that we have in place because of course, this is vital for our license to operate. And especially we focus not only in programs in education in, in sports, in but but also in strengthening the entrepreneurial skills from the people in the communities where we operate and we make them partners in this economic in this economy that we bring to the to the areas, some highlights on the financial side. I mean, as I mentioned, we continue to have a strong balance sheet. The cash flow generations of our, of our mines allow us as I mentioned to reinvest in in the growth of our company but also to pay healthy dividends as a return to our investors in terms of the of the outlook and what to expand in or to expect. In the following years. We have a softer side silver production as I mentioned San Julian is running out of reserves on the disseminated or body that will be partially compensated. And this is not reflected here with higher grades in the vein system that we are discovering and developing along along the strike. And and therefore in the following years, as I mentioned, we do have not only the three gold projects but also the silver project in Guanajuato that we know we will be an operation in the following years. On the gold side, I mentioned Rodeo Tajo and Ori will compensate down the line and this is the Capex we need for sustaining the current operations and and then whatever we invest in the projects in the following year will be on top of this. This is the current chart or timeline in which we expect to develop the pipe the produce in our pipeline. Rodeo. That's a less complicated in our portfolio to develop. This will require only go finalize the exploration, turn those infer resources into indicated and run the pre feasibility and feasibility stages. We do have, as I mentioned, the mobile equipment that will be overhauled from our NOA buena operation that we will bring into this operation in the future. Or IIO as I mentioned, it will present some challenges in terms of the infrastructure as I mentioned and some other studies that we need to put in place in Taito, that's a an area that opens up a new operation in the in the aura cluster, but also will allow us to do some exploration in the trend. And we do have the concessions there from Herradura to Soledad de Polos and Taito. So that opens up a what we believe would be a new district in the area after having Noche Buena for quite some time as a very good and cash generation operation. And, and then Guanajuato is a main system, the ones that we like and the one, the ones that we are experienced to mine in the Guanajuato district south of the historic area in which we were operating last for past 20 years now. And we are quite excited about this project and, and therefore, we will try to push it ahead of the current schedule that, that, that we have there. So to end up, we confirm our guidance for the year, We are quite excited about running a stable and efficient operations, cash generation so that allow us to develop the pipeline that we mentioned in the following years, not only and, and I would say we are also doing a more systematic approach to MN A compared to what we continue to do on the organic growth side, delivering or continue delivering initiatives to mitigate the inflationary cost, increase the dividend to shareholders in line with our policy as we will have or expect to have better results in the coming years. Invest in the brown field in order to fill the gap from now until we have the green field projects up and running and continue process progress at our advanced exploration projects to continue filling the growth pipeline in Fresno PLC. Thank you. We're all at a time. Well, we can fit in one quick question if you like John, just wait for the microphone to come to you Mayama, John Tomaso, Mucho Gusto. I'm a shareholder. When I get shares from Canada the UK Australia. In my retirement account, there is no withholding tax but Mexico invades my retirement tax account and withholds 10% of my dividends from your good company. You should cover that or you should pay that from Friso when Obrador the communist robs your shareholders in America. My suggestion, my question, your dividend a year ago fell 80 or 90% but gold prices rise. Juan Aipo. Wonderful. Mine started now. Silver is recovering. Why did the dividend fall so much a year ago? And what is the outlook to recover the dividend? Thank you. Thank you for your comments and thank you for being a shareholder. Yes, definitely. That's something that we bring to the administration in terms of the falling dividend. That was because of falling results in terms of of, of financials. We continue to have the same policy in place, 50% of our net profit return as dividend and 50% of the net profit for the year return and reinvested in the company. Of course, we had the effect of the inflationary the inflationary effect, the compression of our margins. Something as as we mentioned in the presentation will go from 24 to 36 1st half and even north to the end of the year. So you will see that dividend according to the same policy grow in this next period. OK. Thank you very much. And that's all the time we have for this presentation. Thank you. Thank you.