Fresnillo plc (FRES) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

everyone. I'm Octavio Alvidrez, CEO of Fresnillo PLC. And thank you for being here with us to hear about the full year. Preliminary results 2024 in our company. Here with me, we have Mario Arreguin, our CFO. Also, Tomasi Turriaga, our Chief Operating Officer from the Central Region. And Daniel Diaz, our Chief Operating Officer from the Northern Region, as well as our people from our region. London office, and some core members, Charlie, Jacobs, thank you for being here. And first, let's point out to our disclaimer this morning, just quickly to set out the agenda for the day. I will go with 2024 highlights just to give you also a brief update on our initiatives on HSECR. Then Daniel and Tomas will let us know about some audit on the operations. I will continue giving you some brief comments about resource and reserve and exploration update. Mario will come with our financial performance for the year, and I will close with an outlook comments just to take your questions after that. You all recognize the investment proposition of Fresnillo. I believe it continues to be compelling. But let me first go over some preliminary key messages. Where are we are now? After some years of operational challenges, The aim and the main objective was to stabilize production across all of our operations. There were some factors due to our operations, the maturity of some of the mine sites, but also some external factors. Among some of those that I can mention briefly, Some narrower veins going to the west in the Fresnillo district made some difficulties on the operational side, increasing dilution, lowering the ore grade. Also, let's remember that in Herradura, We transitioned from the oxides portion of the ore body into more of the sulfites zone. Also, we added some two dynamic leachin...