Mineros S.A. (MSA) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and thank you for joining us to go through our second quarter and first half 2026 results. I'm Juan Awando, Director of Investor Relations, and with me this morning are Daniel Henao, our President and CEO, Natalia Correa, our CDFO. Before we get started, a quick reminder that today's presentation includes forward-looking statements, which rest on assumptions and inherent risks and uncertainties. We encourage you to review our second quarter MD&A and financial statements, both of which are on our website and RCDR Plus. We also refer to a number of non-IFRS measures this morning, such as cash cost, all-in sustaining cost and adjusted EBITDA, and net free cash flow. You'll find those defined and reconciled in Section 10 of the MD&A and in the last evening news release. Unless we say otherwise, every figure is in U.S. dollars. After our prepared remarks, we'll take your questions through the webcast portal. The call is being recorded, and we'll post a replay on our website afterwards. With that, let me hand it over to our president and CEO, Daniel Henao. Thank you, Juan, and good morning, everyone. The first half of this year was a transformational one for Mineros. We gave record results We strengthened the balance sheet further, and we made real progress on the growth side of the business. It reflects the work of the Mineros team, running the operations more efficiently, safely, keeping a firm plan on cost, and returning value to our shareholders. We've built today's call around four drivers, and I want to give you the headline of each before we dig in. The first is performance, and it was our strongest half on record, with revenues of almost $560 million, up 46% year over year. The second is balance sheet strength. We now hold about $250 million...