{"id":874950,"date":"2025-08-13T06:59:05","date_gmt":"2025-08-13T10:59:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/endeavour-silver-announces-q2-2025-financial-results-earnings-call-at-10am-pdt-1pm-edt-today\/"},"modified":"2025-08-13T06:59:05","modified_gmt":"2025-08-13T10:59:05","slug":"endeavour-silver-announces-q2-2025-financial-results-earnings-call-at-10am-pdt-1pm-edt-today","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/endeavour-silver-announces-q2-2025-financial-results-earnings-call-at-10am-pdt-1pm-edt-today\/","title":{"rendered":"Endeavour Silver Announces Q2 2025 Financial Results; Earnings Call at 10AM PDT (1PM EDT) Today"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">\n        <strong>VANCOUVER, British Columbia, Aug.  13, 2025  (GLOBE NEWSWIRE) &#8212; Endeavour Silver Corp. <\/strong><br \/>\n        <strong>(\u201cEndeavour\u201d or the \u201cCompany\u201d) <\/strong><br \/>\n        <strong>(NYSE: EXK; TSX: EDR) <\/strong>announces its financial and operating results for the three and six months ended June 30, 2025. All dollar amounts are in US dollars ($).<\/p>\n<p align=\"justify\">\u201cWe are pleased with Endeavour\u2019s strong performance this quarter, highlighted by increased silver equivalent production, robust revenue growth, and the successful integration of Minera Kolpa into our portfolio,\u201d said Dan Dickson, Chief Executive Officer.<\/p>\n<p align=\"justify\">\u201cOur team delivered solid operating results, achieving higher sales at favorable market prices while maintaining costs below guidance. The completion of the Minera Kolpa acquisition has enhanced the Company\u2019s growth profile, and with Terronera nearing commercial production, we are transforming our operational landscape with an expanded resource base and increased production capacity. These milestones, combined with a steadfast commitment to operational efficiency and disciplined capital management, position the company to leverage future opportunities and deliver sustainable growth for our shareholders well into the future.\u201d<\/p>\n<p>\n        <strong><br \/>\n          <u>Q2 2025 Highlights <\/u><br \/>\n        <\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-bottom:8pt;text-align:justify\">\n          <strong>Strong and Consistent Production:<\/strong> 1,483,736 ounces (\u201coz\u201d) of silver and 7,755 oz of gold for 2.5 million oz silver equivalent (\u201cAgEq\u201d)<sup>(<\/sup><sup>1)<\/sup> with the addition of Kolpa, 13% higher than the same period in 2024.<\/li>\n<li style=\"margin-bottom:8pt;text-align:justify\">\n          <strong>Higher oz Sold with Higher Realized Prices<\/strong>: $85.3 million from the sale of 1,455,680 oz of silver and 7,706 oz of gold at average realized prices of $32.95 per oz silver and $3,320 per oz gold. Revenue from operations is 46% higher than in the same period in 2024.<\/li>\n<li style=\"margin-bottom:8pt;text-align:justify\">\n          <strong>Positive Mine Operating Cash Flow<\/strong>: $22.9 million in operating cash flow before working capital changes<sup>(<\/sup><sup>2)<\/sup>, 21% higher than the same period in 2024.<\/li>\n<li style=\"margin-bottom:8pt;text-align:justify\">\n          <strong>Operating Costs Below Guidance:<\/strong> Cash costs<sup>(<\/sup><sup>2)<\/sup> of $15.35 per oz payable silver and all-in sustaining costs<sup>(<\/sup><sup>2)<\/sup> of $25.16 per oz, net of by-product credits.<\/li>\n<li style=\"margin-bottom:8pt;text-align:justify\">\n          <strong>Solid Cash Position:<\/strong> Ended the second quarter with a robust consolidated cash balance of $52.5 million.<\/li>\n<li style=\"margin-bottom:8pt;text-align:justify\">\n          <strong>Completed Acquisition of Minera Kolpa: <\/strong>On May 1, 2025, the Company completed the acquisition of Minera Kolpa, including a $50 million bought deal equity financing, used to fund the cash component of the Kolpa Acquisition (See news release dated\u00a0April 16, 2025 <a href=\"https:\/\/edrsilver.com\/news-media\/news\/endeavour-silver-corp-announces-full-exercise-and-10048\/\" rel=\"nofollow\" target=\"_blank\">here<\/a>), and commenced payments on the US$35 million copper stream with Versamet Royalties Corporation (See news release dated May 1, 2025 <a href=\"https:\/\/edrsilver.com\/news-media\/news\/endeavour-silver-completes-acquisition-of-minera-k-10085\/\" rel=\"nofollow\" target=\"_blank\">here<\/a>).<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"margin-bottom:8pt;text-align:justify\">\n          <strong>Additional Credit Facility of US$15 Million<\/strong><br \/>\n          <strong>: <\/strong>The Company amended and restated the Terronera credit facility to increase the principal amount from $120 million to $135 million (See news release dated June 24, 2025 <a href=\"https:\/\/edrsilver.com\/news-media\/news\/endeavour-silver-amends-and-restates-project-loan-10204\/\" rel=\"nofollow\" target=\"_blank\">here<\/a>).<\/li>\n<li style=\"margin-bottom:4pt;text-align:justify\">\n          <strong>Terronera Nearing Commercial Production: <\/strong>Q2 results have been impacted by Terronera\u2019s operating losses during the commissioning phase. On August 5, 2025 the Company announced that the throughput has rapidly increased with milling rates between 1,900 and 2,000 tpd at the end of July and that silver and gold recoveries have averaged 71% and 67%, respectively during second half of the July. (See news release dated August 5, 2025 <a href=\"https:\/\/edrsilver.com\/news-media\/news\/endeavour-silvers-terronera-mine-startup-advancing-10665\/\" rel=\"nofollow\" target=\"_blank\">here<\/a>).<\/li>\n<\/ul>\n<p>\n        <strong><br \/>\n          <u>Financial Overview<\/u><br \/>\n        <\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"7\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Three Months Ended June 30<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Q2 2025 Highlights<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>Six Months Ended June 30<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:10%;width:10%;min-width:10%;padding-right: 0;border-left: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"max-width:10%;width:10%;min-width:10%;padding-right: 0;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"max-width:10%;width:10%;min-width:10%;padding-right: 0;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>% Change<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:40%;width:40%;min-width:40%;border-bottom: solid black 1pt;border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong><br \/>\n              <br \/>\n            <\/strong><br \/>\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;padding-right: 0;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;padding-right: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>% Change<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Production<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:7%;min-width:7%;padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">1,483,736<\/td>\n<td colspan=\"3\" style=\"max-width:7%;min-width:7%;padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">1,312,572<\/td>\n<td colspan=\"3\" style=\"max-width:7%;min-width:7%;padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">13%<\/td>\n<td colspan=\"2\" style=\"max-width:34%;min-width:34%;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Silver ounces produced<\/td>\n<td style=\"max-width:7%;min-width:7%;padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">2,689,529<\/td>\n<td style=\"max-width:7%;min-width:7%;padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">2,772,578<\/td>\n<td style=\"max-width:7%;min-width:7%;padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">(3%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">7,755<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">10,549<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(26%)<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Gold ounces produced<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">16,093<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">20,682<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">(22%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">3,503<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">&#8211;<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">&#8211;<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Lead tonnes produced<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">3,503<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">&#8211;<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">2,316<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">&#8211;<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">&#8211;<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Zinc tonnes produced<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">2,316<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">&#8211;<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">2,528,562<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">2,156,453<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">17%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Silver equivalent ounces produced<sup>(1)<\/sup><\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">4,401,401<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">4,427,130<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">(1%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">15.35<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">13.43<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">14%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Cash costs per silver ounce<sup>(2)<\/sup><\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">15.59<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">13.30<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">17%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">25.25<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">20.48<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">23%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Total production costs per ounce<sup>(2)<\/sup><\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">24.79<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">19.65<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">26%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">25.16<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">23.13<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">9%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">All-in sustaining costs per ounce <sup>(2)<\/sup><\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">24.85<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">22.24<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">12%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">303,828<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">218,989<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">39%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Processed tonnes<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">513,335<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">440,783<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">16%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">142.00<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">140.36<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">1%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Direct operating costs per tonne<sup>(2)<\/sup><\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">142.30<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">137.65<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">3%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">201.24<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">192.68<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">4%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Direct costs per tonne<sup>(2)<\/sup><\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">203.70<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">187.19<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">9%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Financial<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">85.3<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">58.3<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">46%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Revenue from operations ($ millions)<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">148.8<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">122.0<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">22%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">1,455,680<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">1,217,569<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">20%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Silver ounces sold<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">2,679,364<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">2,973,663<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">(10%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">7,706<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">9,887<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(22%)<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Gold ounces sold<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">16,244<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">20,767<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">(22%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">32.95<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">28.94<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">14%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Realized silver price per ounce<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">32.52<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">25.71<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">26%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">3,320<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">2,374<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">40%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Realized gold price per ounce<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">3,110<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">2,238<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">39%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">3.3<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">&#8211;<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">&#8211;<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Pre-production revenue ($ millions)<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">3.3<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">&#8211;<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">85,711<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">&#8211;<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">&#8211;<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Pre-production silver equivalent ounces sold<sup>(1)<\/sup><\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">85,711<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">&#8211;<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(20.5)<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(14.0)<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(46%)<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Net earnings (loss) ($ millions)<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(53.4)<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(15.2)<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">(251%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(9.2)<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(1.0)<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(841%)<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Adjusted net earnings (loss) ($ millions)<sup>(2)<\/sup><\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(9.4)<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(0.7)<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">(1,227%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">7.7<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">10.2<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(24%)<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Mine operating earnings ($ millions)<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">20.6<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">21.9<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">(6%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">22.9<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">18.9<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">21%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Mine operating cash flow before taxes ($ millions)<sup>(2)<\/sup><\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">45.0<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">39.5<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">14%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">14.4<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">8.1<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">78%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Operating cash flow before working capital changes<sup>(2)<\/sup><\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">22.7<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">18.3<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">24%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">1.4<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(2.3)<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">162%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">EBITDA ($ millions)<sup>(2)<\/sup><\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">(16.7)<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">11.3<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">(248%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">10.8<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">11.9<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(10%)<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Adjusted EBITDA ($ millions)<sup>(2)<\/sup><\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">25.9<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">28.1<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">(8%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(15.3)<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">64.5<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(124%)<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Working capital ($ millions) <sup>(2)<\/sup><\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">(15.3)<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">64.5<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">(124%)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>\u00a0<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Shareholders<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(0.07)<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(0.06)<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(17%)<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Earnings (loss) per share \u2013 basic ($)<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">(0.20)<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">(0.06)<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">(233%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(0.03)<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(0.00)<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">(100%)<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Adjusted earnings (loss) per share \u2013 basic ($)<sup>(2)<\/sup><\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">(0.03)<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">(0.00)<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">(100%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">0.05<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">0.03<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">67%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Operating cash flow before working capital changes per share<sup>(2)<\/sup><\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">0.08<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">0.08<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">0%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">283,534,276<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">242,889,679<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">17%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle\">Weighted average shares outstanding<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">272,987,662<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">235,201,630<\/td>\n<td style=\"padding-right: 0;border-left: solid black 1pt;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">16%<\/td>\n<\/tr>\n<tr>\n<td colspan=\"12\" style=\"padding-right: 0;text-align: center;vertical-align: middle;text-align: justify;vertical-align: middle\">\n            <sub><br \/>\n              <sup>(1)<\/sup> Silver equivalent (AgEq) is calculated using an 80:1 Ag:Au ratio, 60:1 (Ag:Pb) ratio, 85:1 (Ag:Zn) ratio and 300:1 (Ag:Cu) ratio.<\/sub><\/p>\n<p>            <sub><br \/>\n              <sup>(2)<\/sup> These are non-IFRS financial measures and ratios. Further details on these non-IFRS financial measures and ratios are provided at the end of this press release and in the MD&amp;A accompanying the Company\u2019s financial statements, which can be viewed on the Company\u2019s website, on SEDAR+ at <a href=\"http:\/\/www.sedarplus.com\" rel=\"nofollow\" target=\"_blank\">www.sedarplus.com<\/a> and on EDGAR at <a href=\"http:\/\/www.sec.gov\" rel=\"nofollow\" target=\"_blank\">www.sec.gov<\/a>.<\/sub>\n          <\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">Direct operating costs per tonne in Q2 2025 increased to $142.00, slightly higher than $140.36 in Q2 2024. This metric was impacted by: higher costs per tonne at Bola\u00f1itos with lower throughput as a result of maintenance of the floatation circuit and crushing area; the addition of Kolpa which has higher direct operating costs per tonne; offset by lower costs at Guanacev\u00ed.<\/p>\n<p align=\"justify\">Consolidated cash costs per oz, net of by-product credits, were 14% higher in Q2 2025 at $15.35 per oz, compared with Q2 2024, driven by an increase in costs at Bola\u00f1itos and Guanacev\u00ed from lower production, and partially offset by addition of Kolpa which at $11.81 per oz decreases the average cash cost. All-In-Sustaining Costs (\u201cAISC\u201d) in Q2 2025 was $25.16 per silver oz in Q2 2025, 9% higher compared to $23.13 per oz in Q2 2024, predominantly due to the addition of Kolpa which at $25.66 per oz increased the average AISC, and a slight increase of AISC at Guanacev\u00ed.<\/p>\n<p align=\"justify\">In Q2 2025, the Company\u2019s mine operating earnings were $7.7 million (Q2 2024 \u2013 $10.2 million) from revenue of $85.3 million (Q2 2024 \u2013 $58.3 million) and cost of sales of $80.9 million (Q2 2024 \u2013 $48.1 million). The decrease in mine operating earnings is predominantly due to Terronera\u2019s mine operating loss of $5.9 million as the mine ramped-up towards commercial production. The increase in the cost of sales compared to the prior period was driven by $21.5 million from Kolpa and $9.2 million increase from Terronera.<\/p>\n<p align=\"justify\">In Q2 2025, the Company had operating loss of $4.8 million (Q2 2024 \u2013 earnings of $1.7 million) after exploration, evaluation and development costs of $4.9 million (Q2 2024 \u2013 $4.3 million), and general and administrative expense of $7.6 million (Q2 2024 \u2013 $4.2 million). The increase in general and administrative expense is primarily due to the\u00a0$3.6 million acquisition costs of Minera Kolpa.<\/p>\n<p align=\"justify\">The loss before taxes for Q2 2025 was $14.6 million (Q2 2024 \u2013 loss of $11.3 million) after loss on derivative contracts of $10.0 million (Q2 2024 \u2013 $9.2 million) and partially offset by a foreign exchange gain of $0.7 million (Q2 2024 \u2013 loss of $4.0 million), investment and other income of $0.7 million (Q2 2024 \u2013 $0.6 million), and finance costs of $1.1 million (Q2 2024 \u2013 $0.3 million).<\/p>\n<p align=\"justify\">The Company realized a net loss for the period of $20.5 million (Q2 2024 \u2013 net loss of $14.0 million) after an income tax expense of $5.9 million (Q2 2024 \u2013 $2.7 million). The deferred tax recovery was realized as a result of recognizing previously unutilized losses during the period.<\/p>\n<p align=\"justify\">Adjusted net loss was $9.2 million compared to adjusted net loss of $1.0 million in Q2 2024, largely due to the operating loss from Terronera during the commissioning phase and higher depreciation and tax costs.<\/p>\n<p align=\"justify\">This news release should be read in conjunction with the Company\u2019s condensed consolidated interim financial statements for the period ended June 30, 2025, and associated Management\u2019s Discussion and Analysis (\u201cMD&amp;A\u201d) which are available on the Company\u2019s website, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=zCpttDCmECzI31JGHaeNwgL729RFUmcSeXdsj8SxG0pF9AqHMsXemV-FucsJ_E3R9PNdm1g01mEUR4S6LyWKOI7lr5ulVNPTn98P5ZEV0bs=\" rel=\"nofollow\" target=\"_blank\">www.edrsilver.com<\/a>, on SEDAR+ at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=2RyE52YrQZSRXrJtbGrCmW_u3NMsipIudTrMZsAKiqHplR6yZqbunsGgzidwDvfVMmkMndECuzx51ztImZQ3pmoW7LQ3PzixtxN89ajNHYc=\" rel=\"nofollow\" target=\"_blank\">www.sedarplus.com<\/a> and on EDGAR at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=2RyE52YrQZSRXrJtbGrCmeGbbgqX5-kl1ItdPZnEM5VEcUr8Pn0J0eHDL6IDXky3bpzVkdtg1D0UZmgZuCNpzA==\" rel=\"nofollow\" target=\"_blank\">www.sec.gov<\/a>.<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>Conference Call<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Management will host a conference call to discuss the Company\u2019s Q2 2025 financial results today at 10:00am Pacific (PST)\/ 1:00pm Eastern (EST).<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:20%;width:20%;min-width:20%;vertical-align: top\">Date:<\/td>\n<td style=\"max-width:80%;width:80%;min-width:80%;text-align: justify;vertical-align: middle;vertical-align: top\">Wednesday, August 13, 2025<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:20%;width:20%;min-width:20%;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:80%;width:80%;min-width:80%;text-align: justify;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Time:<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">10:00am Pacific (PDT) \/ 1:00pm Eastern (EDT)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Telephone:<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">Canada &amp; US +1-833-752-3348\u00a0<br \/>International +1-647-846-2804<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Replay:<\/td>\n<td style=\"vertical-align: top\">Canada\/US Toll Free +1-855-669-9658 <br \/>International +1-412-317-0088 <br \/>Access code is 6575935<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">To access the replay using an international dial-in number, please click <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=aIk-N1yGyvKHjK77zE0uxZIjCGM2bzOf9CtAfViRiMU8djtVGPFsIDUtF0z7sp2_dIT_D5OWF8GhmV8JLRW8rL7t2VAZx1pIvvmjfL-s5Fe3PEnRYgVe6_BpPCNC7wlS\" rel=\"nofollow\" target=\"_blank\">here<\/a>.<\/p>\n<p align=\"justify\">The replay will also be available on the Company\u2019s website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=zCpttDCmECzI31JGHaeNwsKCoxOktPgPKLWilQ9HzvIzaynBtDNxc6W0LSQHcwkOqfklCK65gWUvkXeGCz0A0GaxQbZ9VQAuj24ggkJ4m4U=\" rel=\"nofollow\" target=\"_blank\"><u>www.edrsilver.com<\/u><\/a>.<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>Management Update<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p>Endeavour is pleased to announce the promotion of Allison Pettit as Vice President, Investor Relations, joining the company\u2019s management team, effective August 1, 2025.<\/p>\n<p>With over a decade of experience in the mining sector, Ms. Pettit has a proven track record working in investor relations, corporate communications, and stakeholder engagement. She joined Endeavour in 2024 after six years at NOVAGOLD Resources Inc., where she played a key role in enhancing corporate visibility and strengthening shareholder relationships.<\/p>\n<p>Ms. Pettit will continue to lead Endeavour\u2019s investor relations and communications strategies, supporting the company\u2019s growth and strategic objectives. She holds a Bachelor of Business Administration and serves as a Board member for the BC Chapter of the Canadian Investor Relations Institute.<\/p>\n<p>Endeavour warmly welcomes Ms. Pettit to its management team as the company advances its growth strategy and commitment to long-term shareholder value.<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>About Endeavour Silver<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Endeavour is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and Peru, and the development of the new cornerstone mine in Jalisco state, the company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer.\u00a0<\/p>\n<p>\n        <strong><br \/>\n          <u>Contact Information<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p>Allison Pettit<br \/>Vice President, Investor Relations <br \/>Tel: (877) 685 &#8211; 9775<br \/>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=BVeFjd-BvlgfCn30LxClSCwlak9SpolDMNwp6wcqM2BhdqHvUxQo_JNo6SdIiM8DLWXI-zz6Rw9cEbrylQg17t93kfsxnAuATKKIOpHA6uw=\" rel=\"nofollow\" target=\"_blank\">apettit@edrsilver.com<\/a><br \/>Website: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=zCpttDCmECzI31JGHaeNwpD3Hf9YdGzY2JEjsVaCZ4OA4ywZHGTWcfH2VZg9OQ7DFmU72gIvfUGdPY3K9qMfA0b-ivdeaOVwa1xx-QZJ4vQ=\" rel=\"nofollow\" target=\"_blank\"><u>www.edrsilver.com<\/u><\/a><\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>Endnotes<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p>\n        <sup>1<\/sup><br \/>\n        <strong>Silver equivalent <\/strong><br \/>\n        <strong>(<\/strong><br \/>\n        <strong>AgEq<\/strong><br \/>\n        <strong>)<\/strong>\n      <\/p>\n<p>AgEq is calculated using an 80:1 Ag:Au ratio, 60:1 (Ag:Pb) ratio, 85:1 (Ag:Zn) ratio and 300:1 (Ag:Cu) ratio.<\/p>\n<p align=\"justify\">\n        <sup>2<\/sup><br \/>\n        <strong>Non-IFRS<\/strong><br \/>\n        <strong> and Other<\/strong><br \/>\n        <strong> Financial Measures<\/strong><br \/>\n        <strong> and <\/strong><br \/>\n        <strong>R<\/strong><br \/>\n        <strong>atios<\/strong>\n      <\/p>\n<p align=\"justify\">Certain non-IFRS and other non-financial measures and ratios are included in this press release, including cash costs per silver ounce, total production costs per ounce, all-in costs per ounce, AISC per ounce, direct operating costs per tonne, direct costs per tonne, silver co-product cash costs, gold co-product cash costs, realized silver price per ounce, realized gold price per ounce, adjusted net earnings (loss) adjusted net earnings (loss) per share, mine operating cash flow before taxes, working capital, operating cash flow before working capital adjustments, operating cash flow before working capital changes per share, earnings before interest, taxes, depreciation and amortization (\u201cEBITDA\u201d), adjusted EBITDA per share, sustaining and growth capital and adjusted net earnings (loss).<\/p>\n<p align=\"justify\">Please see the June 30, 2025 MD&amp;A for explanations and a discussion of these non-IFRS and other non-financial measures and ratios. The Company believes that these measures and ratios, in addition to conventional measures and ratios prepared in accordance with International Financial Reporting Standards (\u201cIFRS\u201d), provide management and investors an improved ability to evaluate the underlying performance of the Company. The non-IFRS and other non-financial measures and ratios are intended to provide additional information and should not be considered in isolation or as a substitute for measures or ratios of performance prepared in accordance with IFRS. These measures and ratios do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to other issuers. Certain additional disclosures for these non-IFRS measures have been incorporated by reference and can be found in the section \u201cNon-IFRS Measures\u201d in the June 30, 2025 MD&amp;A available on SEDAR+ at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=2RyE52YrQZSRXrJtbGrCmUW77fEqtOiRQcLT5xkAFIGz3eoBnLv2u3fqXgIIBRc542pHkO1SXlxtZfEH_s5lUK-Nka1slgUe8L4keXleV7Y=\" rel=\"nofollow\" target=\"_blank\">www.sedarplus.com<\/a>.<\/p>\n<p align=\"justify\">\n        <em>Reconciliation<\/em><br \/>\n        <em>of<\/em><br \/>\n        <em>Working<\/em><br \/>\n        <em>Capital<\/em>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:66%;width:66%;min-width:66%;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:16%;width:16%;min-width:16%;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:16%;width:16%;min-width:16%;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:66%;width:66%;min-width:66%;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">\n            <strong>Expressed in thousands of US dollars <\/strong>\n          <\/td>\n<td style=\"max-width:16%;width:16%;min-width:16%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>As at June 30, 2025<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:16%;width:16%;min-width:16%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>As at December 31, 2024<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:68%;min-width:68%;border-top: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Current assets<\/td>\n<td style=\"max-width:15%;min-width:15%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$197,877<\/td>\n<td style=\"max-width:15%;min-width:15%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:15%;min-width:15%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$157,647<\/td>\n<td style=\"max-width:15%;min-width:15%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:56%;min-width:56%;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;vertical-align: middle\">Current liabilities<\/td>\n<td style=\"max-width:20%;min-width:20%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">220,043<\/td>\n<td style=\"max-width:20%;min-width:20%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:20%;min-width:20%;border-bottom: solid black 1pt;padding-left: 0;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">78,866<\/td>\n<td style=\"max-width:20%;min-width:20%;border-bottom: solid black 1pt;padding-left: 0;border-top: solid black 1pt;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Working capital<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">($22,166)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$78,781<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <em>Reconciliation of Adjusted Net Earnings (Loss) and Adjusted Net Earnings (Loss) Per Share<\/em>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">\n            <strong>Expressed<\/strong><br \/>\n            <strong>in<\/strong><br \/>\n            <strong>thousands<\/strong><br \/>\n            <strong>US<\/strong><br \/>\n            <strong> dollars<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>Three Months Ended June 30<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>Six Months Ended June 30<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:56%;min-width:56%;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>2025<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>2024<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>2025<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\n            <strong>2024<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Net earnings (loss) for the period per financial statements<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">($20,455)<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-right: 0;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">($14,007)<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-right: 0;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">($53,362)<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-right: 0;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">($15,201)<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-right: 0;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Unrealized foreign exchange (Gain) loss<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(2,802)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">2,196<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(2,527)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">2,332<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">(Gain) loss on derivatives &amp; copper stream valuation<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">10,088<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">9,253<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">42,019<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">9,253<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Acquisition costs<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">3,602<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">3,602<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-right: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Change in fair value of investments<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">(178)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">425<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">(321)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">1,286<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-right: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Change in fair value of cash settled DSUs<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">582<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">1,159<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">1,220<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">1,624<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-right: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Adjusted net earnings (loss)<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">($9,163)<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">($974)<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">($9,369)<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">($706)<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-right: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Basic weighted average share outstanding<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">283,534,276<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">242,889,679<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">272,987,662<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">235,201,630<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-right: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Adjusted net earnings (loss) per share<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">($0.03)<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">($0.00)<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">($0.03)<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">($0.00)<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" style=\"vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <em>Reconciliation of Mine Operating Cash Flow Before Taxes<\/em>\n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">\n            <strong>Expressed<\/strong><br \/>\n            <strong>in<\/strong><br \/>\n            <strong>thousands<\/strong><br \/>\n            <strong>US<\/strong><br \/>\n            <strong> dollars<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>Three Months Ended June 30<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>Six Months Ended June 30<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:56%;min-width:56%;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\u00a0<\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;padding-left: 0;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>2025<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;padding-left: 0;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>2024<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;padding-left: 0;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;padding-left: 0;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>2024<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Mine operating earnings per financial statements<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle\">$7,744<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle\">$10,196<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle\">$20,586<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle\">$21,852<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Share-based compensation<\/td>\n<td style=\"padding-left: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle\">136<\/td>\n<td style=\"padding-left: 0;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle\">74<\/td>\n<td style=\"padding-left: 0;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle\">170<\/td>\n<td style=\"padding-left: 0;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle\">153<\/td>\n<td style=\"padding-left: 0;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Depreciation<\/td>\n<td style=\"padding-left: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle\">15,010<\/td>\n<td style=\"padding-left: 0;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle\">8,639<\/td>\n<td style=\"padding-left: 0;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle\">24,216<\/td>\n<td style=\"padding-left: 0;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle\">17,516<\/td>\n<td style=\"padding-left: 0;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Mine operating cash flow before taxes<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle\">$22,890<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle\">$18,909<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle\">$44,972<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle\">$39,521<\/td>\n<td style=\"padding-right: 0;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <em>Reconciliation of Operating Cash Flow Before Working Capital Changes and Operating Cash Flow Before Working Capital Changes Per Share<\/em>\n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;vertical-align: middle\">\n            <strong>Expressed<\/strong><br \/>\n            <strong>in<\/strong><br \/>\n            <strong>thousands<\/strong><br \/>\n            <strong>US<\/strong><br \/>\n            <strong> dollars<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Three Months Ended June 30<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Six Months Ended June 30<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;min-width:52%;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;vertical-align: top\">(except for per share amounts)<\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;padding-left: 0;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;border-top: solid black 1pt\">\n            <strong>2025<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;padding-left: 0;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;border-top: solid black 1pt\">\n            <strong>2024<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;padding-left: 0;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;border-top: solid black 1pt\">\n            <strong>2025<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;border-top: solid black 1pt;border-right: solid black 1pt\">\n            <strong>2024<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt\">Cash from (used in) operating activities per financial statements<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-right: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">$21,564<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-right: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">$12,367<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-right: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">$24,927<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-right: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">$16,950<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt\">Net changes in non-cash working capital per financial statements<\/td>\n<td style=\"padding-left: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">7,192<\/td>\n<td style=\"padding-left: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">4,301<\/td>\n<td style=\"padding-left: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">2,207<\/td>\n<td style=\"padding-left: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">(1,350)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt\">Operating cash flow before working capital changes<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">$14,372<\/td>\n<td style=\"padding-right: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">$8,066<\/td>\n<td style=\"padding-right: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">$22,720<\/td>\n<td style=\"padding-right: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">$18,300<\/td>\n<td style=\"padding-right: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt\">Basic weighted average shares outstanding<\/td>\n<td style=\"padding-left: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">283,534,276<\/td>\n<td style=\"padding-left: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">242,889,679<\/td>\n<td style=\"padding-left: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">272,987,662<\/td>\n<td style=\"padding-left: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">235,201,630<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt\">Operating cash flow before working capital changes per share<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">$0.05<\/td>\n<td style=\"padding-right: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">$0.03<\/td>\n<td style=\"padding-right: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">$0.08<\/td>\n<td style=\"padding-right: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-bottom: solid black 1pt;border-left: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">0.08<\/td>\n<td style=\"padding-left: 0;padding-right: 0;border-right: solid black 1pt;border-bottom: solid black 1pt;border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <em>Reconciliation of EBITDA and Adjusted EBITDA<\/em>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: middle\">\n            <strong>Expressed<\/strong><br \/>\n            <strong>in<\/strong><br \/>\n            <strong>thousands<\/strong><br \/>\n            <strong>US<\/strong><br \/>\n            <strong> dollars<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>Three Months Ended June 30<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\n            <strong>Six Months Ended June 30<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Net earnings (loss) for the period per financial statements<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">($20,455)<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">($14,007)<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">($53,362)<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">($15,201)<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Depreciation \u2013 cost of sales<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">15,010<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">8,639<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">24,216<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">17,516<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Depreciation \u2013 exploration, evaluation and development<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">4<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">188<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">254<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">347<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Depreciation \u2013 general &amp; administration<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">102<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">106<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">207<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">205<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Finance costs<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">846<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">103<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">1,030<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">238<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Current income tax expense<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">9,094<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">2,878<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">14,373<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">8,545<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Deferred income tax expense (recovery)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(3,199)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(163)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(3,413)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(396)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">EBITDA<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$1,402<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">($2,256)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">($16,695)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$11,254<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Share based compensation<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">1,681<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">1,162<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">2,197<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">2,332<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Unrealized foreign exchange (gain) loss<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(2,802)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">2,196<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(2,527)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">2,332<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">(Gain) loss on derivatives &amp; copper stream valuation<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">10,088<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">9,253<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">42,019<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">9,253<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Change in fair value of investments<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(178)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">425<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(321)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">1,286<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Change in fair value of cash settled DSUs<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">582<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">1,159<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">1,220<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">1,624<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Adjusted EBITDA<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$10,773<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$11,939<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$25,893<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$28,081<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Basic weighted average shares outstanding<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">283,534,276<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">242,889,679<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">272,987,662<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">235,201,630<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Adjusted EBITDA per share<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$0.04<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$0.05<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$0.09<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$0.12<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" style=\"vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <em>Reconciliation of Cash Cost Per Silver Ounce, Total Production Costs Per Ounce, Direct Operating Costs Per Tonne, Direct Costs Per Tonne<\/em>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"8\" style=\"text-align: center;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">\n            <strong>Expressed in thousands of US dollars <\/strong>\n          <\/td>\n<td colspan=\"8\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>Three Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30, 2025<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Guanacev\u00ed<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Bola\u00f1itos<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Kolpa<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;min-width:52%;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct production costs per financial statements<\/td>\n<td style=\"max-width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">$23,058<\/td>\n<td style=\"max-width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">$11,594<\/td>\n<td style=\"max-width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">$16,301<\/td>\n<td style=\"max-width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">$50,953<\/td>\n<td style=\"max-width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Purchase of the third-party material<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(9,988)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(9,988)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Smelting and refining costs included in revenue<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">345<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">1,088<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">1,433<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Opening finished goods<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(4,763<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(1,328)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(610)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(6,701)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Closing finished goods<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">5,939<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">935<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">574<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">7,448<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct operating costs<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">14,246<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">11,546<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">17,353<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">43,145<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Purchase of the third-party material<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">9,988<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">9,988<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Royalties<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">6,197<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">164<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">6,361<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Special mining duty <sup>(1)<\/sup><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">1,079<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">423<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">148<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">1,650<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct costs<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">31,510<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">12,133<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">17,501<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">61,144<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">By-products sales<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(11,635)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(13,962)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(13,275)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(38,872)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Opening by-products inventory fair market value<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">2,232<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">1,410<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">544<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">4,186<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Closing by-products inventory fair market value<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(2,302)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(1,310)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(526)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(4,138)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Cash costs net of by-products<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">19,805<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(1,729)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">4,244<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">22,320<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Depreciation<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">6,315<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">2,747<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">5,157<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">14,219<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Share-based compensation<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">66<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">46<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">24<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">136<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Opening finished goods depreciation<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(1,618)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(384)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(134)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">(2,136)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Closing finished goods depreciation<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">1,843<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">214<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">125<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle\">2,182<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Total production costs<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">$26,411<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">$894<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">$9,416<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">$36,721<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Expressed in thousands of US dollars<\/strong>\n          <\/td>\n<td colspan=\"8\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Three Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30, 2024<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Guanacev\u00ed<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Bola\u00f1itos<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Kolpa<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:40%;min-width:40%;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct production costs per financial statements<\/td>\n<td style=\"max-width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$23,001<\/td>\n<td style=\"max-width:15%;min-width:15%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$10,702<\/td>\n<td style=\"max-width:15%;min-width:15%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"max-width:15%;min-width:15%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$33,703<\/td>\n<td style=\"max-width:15%;min-width:15%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Purchase of the third-party material<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(5,043)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(5,043)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Smelting and refining costs included in revenue<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">447<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">447<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Opening finished goods<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(2,314)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(651)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(2,965)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Closing finished goods<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4,038<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">557<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4,595<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct operating costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">19,682<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">11,055<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">30,737<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Purchase of the third-party material<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">5,043<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">5,043<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Royalties<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">5,556<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">92<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">5,648<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Special mining duty<sup>(1)<\/sup><\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">129<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">637<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">766<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">30,410<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">11,784<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">42,194<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">By-products sales<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(8,622)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(14,852)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(23,474)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Opening by-products inventory fair market value<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">871<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">851<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,722<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Closing by-products inventory fair market value<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(2,187)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(751)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(2,938)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Cash costs net of by-products<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">20,472<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(2,968)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">17,504<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Depreciation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">5,965<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,674<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">8,639<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Share-based compensation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">60<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">14<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">74<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Opening finished goods depreciation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(771)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(219)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(990)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Closing finished goods depreciation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,326<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">144<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,470<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Total production costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$27,052<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">($355)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$26,697<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<p>\u00a0<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Expressed in thousands of US dollars <\/strong>\n          <\/td>\n<td colspan=\"8\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Three Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30, 2025<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Guanacev\u00ed<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Bola\u00f1itos<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Kolpa<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:40%;min-width:40%;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Throughput tonnes<\/td>\n<td style=\"max-width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">96,834<\/td>\n<td style=\"max-width:15%;min-width:15%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">88,098<\/td>\n<td style=\"max-width:15%;min-width:15%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">118,896<\/td>\n<td style=\"max-width:15%;min-width:15%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">303,828<\/td>\n<td style=\"max-width:15%;min-width:15%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Payable silver ounces<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">994,882<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">100,183<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">359,347<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,454,412<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Cash costs per silver ounce<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$19.91<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">($17.26)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$11.81<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$15.35<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Total production costs per ounce<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$26.55<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$8.92<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$26.20<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$25.25<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct operating costs per tonne<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$147.11<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$131.06<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$145.95<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$142.00<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct costs per tonne<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$325.40<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$137.72<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$147.20<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$201.24<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<p>\u00a0<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Expressed in thousands of US dollars <\/strong>\n          <\/td>\n<td colspan=\"8\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Three Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30, 2024<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Guanacev\u00ed<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Bola\u00f1itos<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Kolpa<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Throughput tonnes<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">112,897<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">106,092<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">218,989<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Payable silver ounces<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,192,165<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">111,296<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,303,461<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Cash costs per silver ounce<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$17.17<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">($26.67)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$13.43<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Total production costs per ounce<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$22.69<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">($3.19)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$20.48<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct operating costs per tonne<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$174.34<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$104.20<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$140.36<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct costs per tonne<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$269.36<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$111.07<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$192.68<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\u00a0<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Expressed in thousands of US dollars <\/strong>\n          <\/td>\n<td colspan=\"8\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>Six Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30, 2025<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Guanacev\u00ed<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Bola\u00f1itos<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Kolpa<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct production costs per financial statements<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$48,502<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$21,323<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$16,301<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$86,126<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Purchase of the third-party material<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(15,854)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(15,854)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Smelting and refining costs included in revenue<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">781<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,088<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,869<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Opening finished goods<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(5,448)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(485)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(610)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(6,543)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Closing finished goods<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">5,939<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">935<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">574<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">7,448<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct operating costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">33,139<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">22,554<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">17,353<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">73,046<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Purchase of the third-party material<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">15,854<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">15,854<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Royalties<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">12,263<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">341<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">12,604<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Special mining duty <sup>(1)<\/sup><\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,063<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">854<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">148<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,065<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">63,319<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">23,749<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">17,501<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">104,569<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">By-products sales<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(24,426)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(25,954)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(13,275)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(63,655)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Opening by-products inventory fair market value<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,185<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">772<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">544<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4,501<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Closing by-products inventory fair market value<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(2,302)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(1,310)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(526)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(4,138)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Cash costs net of by-products<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">39,776<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(2,743)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4,244<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">41,277<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Depreciation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">12,884<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">5,384<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">5,157<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">23,425<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Share-based compensation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">86<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">60<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">24<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">170<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Opening finished goods depreciation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(1,188)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(92)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(134)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(1,414)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Closing finished goods depreciation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,843<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">214<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">125<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,182<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Total production costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$53,401<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$2,823<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$9,416<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$65,640<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<p>\u00a0<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Expressed in thousands of US dollars<\/strong>\n          <\/td>\n<td colspan=\"8\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Six Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30, 2024<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Guanacev\u00ed<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Bola\u00f1itos<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Kolpa<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct production costs per financial statements<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$49,887<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$20,521<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$\u00a0 \u00a0&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$70,408<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Purchase of the third-party material<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(7,435)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(7,435)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Smelting and refining costs included in revenue<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">940<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">940<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Opening finished goods<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(7,137)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(699)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(7,836)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Closing finished goods<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4,038<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">557<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4,595<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct operating costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">39,353<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">21,319<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">60,672<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Purchase of the third-party material<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">7,435<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">7,435<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Royalties<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">11,888<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">168<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">12,056<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Special mining duty<sup>(1)<\/sup><\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,650<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">697<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,347<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">60,326<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">22,184<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">82,510<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">By-products sales<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(19,353)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(27,117)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(46,470)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Opening by-products inventory fair market value<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,909<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">619<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,528<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Closing by-products inventory fair market value<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(2,187)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(751)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(2,938)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Cash costs net of by-products<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">41,695<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(5,065)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">36,630<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Depreciation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">11,780<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">5,736<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">17,516<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Share-based compensation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">122<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">31<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">153<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Opening finished goods depreciation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(1,459)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(197)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(1,656)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Closing finished goods depreciation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,326<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">144<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,470<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Total production costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$53,464<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$\u00a0 \u00a0649<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$\u00a0 \u00a0&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$54,113<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Expressed in thousands of US dollars <\/strong>\n          <\/td>\n<td colspan=\"8\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Six Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30, 2025<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Guanacev\u00ed<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Bola\u00f1itos<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Kolpa<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Throughput tonnes<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">199,272<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">195,167<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">118,896<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">513,335<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Payable silver ounces<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,007,163<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">281,260<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">359,347<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,647,770<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Cash costs per silver ounce<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$19.82<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">($9.75)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$11.81<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$15.59<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Total production costs per ounce<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$26.60<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$10.04<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$26.20<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$24.79<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct operating costs per tonne<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$166.30<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$115.56<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$145.95<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$142.30<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct costs per tonne<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$317.75<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$121.69<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$147.20<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$203.70<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<p>\u00a0<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Expressed in thousands of US dollars <\/strong>\n          <\/td>\n<td colspan=\"8\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Six Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30, 2024<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Guanacev\u00ed<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Bola\u00f1itos<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Kolpa<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Throughput tonnes<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">227,901<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">212,882<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">440,783<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Payable silver ounces<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,523,900<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">229,869<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,753,769<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Cash costs per silver ounce<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$16.52<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">($22.03)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$13.30<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Total production costs per ounce<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$21.18<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$2.82<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$19.65<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct operating costs per tonne<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$172.68<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$100.14<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$137.65<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Direct costs per tonne<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$264.70<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$104.21<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$187.19<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\">(1) Special mining duty is an EBITDA royalty tax presented as a current income tax in accordance with IFRS.<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\u00a0<\/p>\n<p>\n        <em>Reconciliation of All-In Costs Per Ounce and AISC per ounce<\/em>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td>\u00a0<\/td>\n<td colspan=\"8\" style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Expressed in thousands of US dollars <\/strong>\n          <\/td>\n<td colspan=\"8\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Three Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30, 2025<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Guanacev\u00ed<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Bola\u00f1itos<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Kolpa<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Cash costs net of by-products<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$19,805<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">($1,729)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$4,244<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$22,320<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Operations share-based compensation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">66<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">46<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">24<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">136<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Corporate general and administrative<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,074<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">323<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4,755<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">6,152<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Acquisition costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(3,602)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(3,602)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Corporate share-based compensation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">756<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">274<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">323<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,353<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Reclamation &#8211; amortization\/accretion<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">159<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">90<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">41<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">290<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Mine site expensed exploration<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">29<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">27<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,036<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,092<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Equipment loan payments<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">66<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">66<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Capital expenditures sustaining<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4,781<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,675<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,332<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">8,788<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">All-In-Sustaining Costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$26,670<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$706<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$9,219<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$36,595<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Acquisition costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,602<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Growth exploration, evaluation and development<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,633<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Growth capital expenditures<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">45,362<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">All-In-Costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$89,192<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<p>\u00a0<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Expressed in thousands of US dollars <\/strong>\n          <\/td>\n<td colspan=\"8\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Three Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30, 2024<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Guanacev\u00ed<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Bola\u00f1itos<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Kolpa<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Cash costs net of by-products<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$20,472<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">($2,968)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$17,504<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Operations share-based compensation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">60<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">14<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">74<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Corporate general and administrative<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,263<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">910<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,173<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Corporate share-based compensation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">684<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">277<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">961<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Reclamation &#8211; amortization\/accretion<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">101<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">73<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">174<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Mine site expensed exploration<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">341<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">335<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">676<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Equipment loan payments<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">78<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">67<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">145<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Capital expenditures sustaining<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">5,245<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,199<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">7,444<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">All-In-Sustaining Costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$29,244<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$907<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$-<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$30,151<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Growth exploration, evaluation and development<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,299<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Growth capital expenditures<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">48,367<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">All-In-Costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$81,817<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<p>\u00a0<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Expressed in thousands of US dollars <\/strong>\n          <\/td>\n<td colspan=\"8\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Three Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30, 2025<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Guanacev\u00ed<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Bola\u00f1itos<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Kolpa<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Throughput tonnes<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">96,834<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">88,098<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">118,896<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">303,828<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Payable silver ounces<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">994,882<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">100,183<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">359,347<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,454,412<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Silver equivalent production (ounces)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,282,853<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">440,678<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">805,032<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,528,562<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">All-in-Sustaining cost per ounce<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$26.81<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$7.04<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$25.66<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$25.16<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Expressed in thousands of US dollars <\/strong>\n          <\/td>\n<td colspan=\"8\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Three Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30, 2024<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Guanacev\u00ed<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Bola\u00f1itos<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Kolpa<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Throughput tonnes<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">112,897<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">106,092<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">218,989<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Payable silver ounces<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,192,165<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">111,296<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,303,461<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Silver equivalent production (ounces)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,535,161<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">621,292<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,156,453<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">All-in-Sustaining cost per ounce<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$24.53<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$8.15<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$23.13<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Expressed in thousands of US dollars <\/strong>\n          <\/td>\n<td colspan=\"8\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Six Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30, 2025<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Guanacev\u00ed<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Bola\u00f1itos<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Kolpa<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Cash costs net of by-products<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$39,776<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">($2,743)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$4,244<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$41,277<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Operations share-based compensation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">86<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">60<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">24<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">170<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Corporate general and administrative<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,750<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,403<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4,755<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">9,908<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Acquisition costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(3,602)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(3,602)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Corporate share-based compensation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,050<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">393<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">323<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,766<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Reclamation &#8211; amortization\/accretion<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">307<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">175<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">41<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">523<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Mine site expensed exploration<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">299<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">201<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,036<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,536<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Equipment loan payments<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">66<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">66<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Capital expenditures sustaining<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">8,227<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,600<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$2,332<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">14,159<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">All-In-Sustaining Costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$53,495<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$3,089<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$9,219<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$65,803<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Acquisition costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,602<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Growth exploration, evaluation and development<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">7,408<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Growth capital expenditures<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">81,576<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">All-In-Costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$158,389<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Expressed in thousands of US dollars <\/strong>\n          <\/td>\n<td colspan=\"8\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Six Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30, 2024<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Guanacev\u00ed<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Bola\u00f1itos<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Kolpa<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Cash costs net of by-products<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$41,695<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">($5,065)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$-<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$36,630<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Operations share-based compensation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">122<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">31<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">153<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Corporate general and administrative<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4,467<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,711<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">6,178<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Corporate share-based compensation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,374<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">527<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,901<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Reclamation &#8211; amortization\/accretion<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">203<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">150<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">353<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Mine site expensed exploration<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">463<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">649<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,112<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Equipment loan payments<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">206<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">287<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">493<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Capital expenditures sustaining<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">9,961<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4,465<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">14,426<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">All-In-Sustaining Costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$58,491<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$2,755<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$-<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$61,246<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Growth exploration, evaluation and development<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">6,823<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Growth capital expenditures<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">86,272<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">All-In-Costs<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$154,341<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Expressed in thousands of US dollars <\/strong>\n          <\/td>\n<td colspan=\"8\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Six Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30, 2025<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Guanacev\u00ed<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Bola\u00f1itos<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Kolpa<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Throughput tonnes<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">199,272<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">195,167<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">118,896<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">513,335<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Payable silver ounces<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,007,163<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">281,260<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">359,347<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,647,770<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Silver equivalent production (ounces)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,617,300<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">979,070<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">805,032<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4,401,401<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">All-in-Sustaining cost per ounce<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$26.65<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$10.98<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$25.66<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$24.85<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Expressed in thousands of US dollars <\/strong>\n          <\/td>\n<td colspan=\"8\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Six Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30, 2024<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Guanacev\u00ed<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Bola\u00f1itos<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Kolpa<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Throughput tonnes<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">227,901<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">212,882<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">440,783<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Payable silver ounces<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,523,900<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">229,869<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,753,769<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Silver equivalent production (ounces)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,200,854<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,226,276<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4,427,129<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">All-in-Sustaining cost per ounce<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$23.17<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$11.98<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$22.24<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <em>Reconciliation of Sustaining Capital and Growth Capital<\/em>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">\n            <strong>Expressed in thousands of US dollars<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Three Months Ended June 30<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Six Months Ended June 30<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>2024<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Capital expenditures sustaining<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$8,788<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$7,444<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$14,159<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$14,426<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Growth capital expenditures<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">45,362<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">48,367<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">81,576<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">86,272<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Property, plant and equipment expenditures per Consolidated Statement of Cash Flows<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$54,150<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$55,811<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$95,735<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$100,698<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">\n            <strong>Expressed in thousands of US dollars<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Three Months Ended June 30<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Six Months Ended June 30<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>2024<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Mine site expensed exploration<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$1,092<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$676<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$1,536<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$1,112<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Growth exploration, evaluation and development<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,633<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,299<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">7,408<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">6,823<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Total exploration, evaluation and development<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4,725<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,975<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">8,944<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">7,935<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Exploration, evaluation and development depreciation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">188<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">254<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">347<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Exploration, evaluation and development share-based compensation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">193<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">127<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">262<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">278<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Exploration, evaluation and development expense<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$4,922<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$4,290<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$9,460<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$8,560<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <em>Reconciliation of Realized Silver Price Per Ounce and Realized Gold Price Per Ounce<\/em>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">\n            <strong>Expressed in thousands of US dollars<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Three Months Ended June 30<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Six Months Ended June 30<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Gross silver sales<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$48,873<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$35,234<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$88,024<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$76,456<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Silver ounces sold<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,483,311<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,217,569<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,706,995<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,973,663<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Realized silver price per ounce<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$32.95<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$28.94<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$32.52<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$25.71<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\">\n<ol>\n<li>inclusive of 27,631 oz of silver from pre-production at Terronera<\/li>\n<\/ol>\n<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">\n            <strong>Expressed in thousands of US dollars<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Three Months Ended June 30<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Six Months Ended June 30<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-left: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Gross gold sales<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$27,989<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$23,474<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$52,772<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$46,470<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Gold ounces sold<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">8,431<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">9,887<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">16,969<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">20,767<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Realized gold price per ounce<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$3,320<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$2,374<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$3,110<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">$2,238\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\">\n<ol>\n<li>inclusive of 725 oz of gold from pre-production at Terronera<\/li>\n<\/ol>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <u>Cautionary Note Regarding Forward-Looking Statements<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">\n        <em>This news release contains \u201cforward-looking statements\u201d within the meaning of the United States private securities litigation reform act of 1995 and \u201cforward-looking information\u201d within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the Company\u2019s forecasted operations, costs and expenditures, the Company\u2019s exploration programs, extensions of mineralisation and publishing of future resource estimates; and the timing and results of various related activities, including achieving commercial production at Terronera. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.<\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to unexpected changes in production and costs guidance; the ongoing effects of inflation and supply chain issues on mine economics; fluctuations in the prices of silver and gold; fluctuations in the currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar, Peruvian sol, and U.S. dollar); fluctuations in interest rates; effects of inflation; changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada, Peru and Mexico; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining (including, but not limited to environmental hazards, industrial accidents, unusual or unexpected geological conditions, pressures, cave-ins and flooding); inadequate insurance, or inability to obtain insurance; availability of and costs associated with mining inputs and labour; the speculative nature of mineral exploration and development; diminishing quantities or grades of mineral reserves as properties are mined; risks in obtaining necessary licenses and permits; satisfaction of conditions precedent to drawdown under the Debt Facility; challenges to the Company\u2019s title to properties; May 27, 2025 filed with the S.E.C. and Canadian securities regulatory authorities.<\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company\u2019s mining operations, no material adverse change in the market price of commodities, forecasted mine economics, mining operations will operate and the mining products will be completed in accordance with management\u2019s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.<\/em>\n      <\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTUxMTU1MiM3MDk2MDk3IzIwOTIxMDM=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/YWU5MmFiNjItZDBjMS00M2I1LWEyYzItNGEwYTc5OWZkMWY4LTExMDM2NzQtMjAyNS0wOC0xMy1lbg==\/tiny\/Endeavour-Silver-Corporation.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>VANCOUVER, British Columbia, Aug. 13, 2025 (GLOBE NEWSWIRE) &#8212; Endeavour Silver Corp. (\u201cEndeavour\u201d or the \u201cCompany\u201d) (NYSE: EXK; TSX: EDR) announces its financial and operating results for the three and six months ended June 30, 2025. All dollar amounts are in US dollars ($). \u201cWe are pleased with Endeavour\u2019s strong performance this quarter, highlighted by increased silver equivalent production, robust revenue growth, and the successful integration of Minera Kolpa into our portfolio,\u201d said Dan Dickson, Chief Executive Officer. \u201cOur team delivered solid operating results, achieving higher sales at favorable market prices while maintaining costs below guidance. The completion of the Minera Kolpa acquisition has enhanced the Company\u2019s growth profile, and with Terronera nearing commercial production, we are transforming our operational &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/endeavour-silver-announces-q2-2025-financial-results-earnings-call-at-10am-pdt-1pm-edt-today\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Endeavour Silver Announces Q2 2025 Financial Results; Earnings Call at 10AM PDT (1PM EDT) Today&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-874950","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Endeavour Silver Announces Q2 2025 Financial Results; Earnings Call at 10AM PDT (1PM EDT) Today - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/endeavour-silver-announces-q2-2025-financial-results-earnings-call-at-10am-pdt-1pm-edt-today\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Endeavour Silver Announces Q2 2025 Financial Results; Earnings Call at 10AM PDT (1PM EDT) Today - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"VANCOUVER, British Columbia, Aug. 13, 2025 (GLOBE NEWSWIRE) &#8212; Endeavour Silver Corp. (\u201cEndeavour\u201d or the \u201cCompany\u201d) (NYSE: EXK; TSX: EDR) announces its financial and operating results for the three and six months ended June 30, 2025. All dollar amounts are in US dollars ($). \u201cWe are pleased with Endeavour\u2019s strong performance this quarter, highlighted by increased silver equivalent production, robust revenue growth, and the successful integration of Minera Kolpa into our portfolio,\u201d said Dan Dickson, Chief Executive Officer. \u201cOur team delivered solid operating results, achieving higher sales at favorable market prices while maintaining costs below guidance. The completion of the Minera Kolpa acquisition has enhanced the Company\u2019s growth profile, and with Terronera nearing commercial production, we are transforming our operational &hellip; Continue reading &quot;Endeavour Silver Announces Q2 2025 Financial Results; Earnings Call at 10AM PDT (1PM EDT) Today&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/endeavour-silver-announces-q2-2025-financial-results-earnings-call-at-10am-pdt-1pm-edt-today\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-13T10:59:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTUxMTU1MiM3MDk2MDk3IzIwOTIxMDM=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"19 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/endeavour-silver-announces-q2-2025-financial-results-earnings-call-at-10am-pdt-1pm-edt-today\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/endeavour-silver-announces-q2-2025-financial-results-earnings-call-at-10am-pdt-1pm-edt-today\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Endeavour Silver Announces Q2 2025 Financial Results; 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Earnings Call at 10AM PDT (1PM EDT) Today - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/endeavour-silver-announces-q2-2025-financial-results-earnings-call-at-10am-pdt-1pm-edt-today\/","og_locale":"en_US","og_type":"article","og_title":"Endeavour Silver Announces Q2 2025 Financial Results; Earnings Call at 10AM PDT (1PM EDT) Today - Market Newsdesk","og_description":"VANCOUVER, British Columbia, Aug. 13, 2025 (GLOBE NEWSWIRE) &#8212; Endeavour Silver Corp. (\u201cEndeavour\u201d or the \u201cCompany\u201d) (NYSE: EXK; TSX: EDR) announces its financial and operating results for the three and six months ended June 30, 2025. All dollar amounts are in US dollars ($). \u201cWe are pleased with Endeavour\u2019s strong performance this quarter, highlighted by increased silver equivalent production, robust revenue growth, and the successful integration of Minera Kolpa into our portfolio,\u201d said Dan Dickson, Chief Executive Officer. \u201cOur team delivered solid operating results, achieving higher sales at favorable market prices while maintaining costs below guidance. The completion of the Minera Kolpa acquisition has enhanced the Company\u2019s growth profile, and with Terronera nearing commercial production, we are transforming our operational &hellip; Continue reading \"Endeavour Silver Announces Q2 2025 Financial Results; Earnings Call at 10AM PDT (1PM EDT) Today\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/endeavour-silver-announces-q2-2025-financial-results-earnings-call-at-10am-pdt-1pm-edt-today\/","og_site_name":"Market Newsdesk","article_published_time":"2025-08-13T10:59:05+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTUxMTU1MiM3MDk2MDk3IzIwOTIxMDM=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"19 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/endeavour-silver-announces-q2-2025-financial-results-earnings-call-at-10am-pdt-1pm-edt-today\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/endeavour-silver-announces-q2-2025-financial-results-earnings-call-at-10am-pdt-1pm-edt-today\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Endeavour Silver Announces Q2 2025 Financial Results; 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