Net earnings in Q3 were $65.3 million or $0.31 per share, reflecting revenue in the period of approximately $300 million. The issue there, like we talked about in Peru, is how much of the workforce can we get deployed. So it's probably representing something, I would guess, around 20% of the total throughput. [Operator instructions] Our first question is from Cosmos Chiu with CIBC. Pan American Silver… Pan American, on behalf of Tahoe, apologizes to the victims and to the community,” Michael Steinmann, President and CEO of Pan American Silver, said in Tuesday’s media statement. Alongside its core work providing a platform for Human Rights advocates, the Resource Centre runs several focused programme areas and regularly releases briefings and reports on areas of particular interest. “The shooting on April 27, 2013, infringed the human rights of the protestors. And then just kind of a little more color, if you can provide, on exactly the causes of the delays. So that's what we are following, of course. Guatemala, like many other countries, have been hit hard with that. Just because we -- as you know, we like and I like very much to have a strong balance sheet as strong as possible as it gives us a lot of flexibility and keeps -- keeping our line of credit untapped gives us a lot of flexibility on whatever comes later in the next coming year, including the development of La Colorada skarn, which brings me to the next bucket, which is high-quality, high-accretive projects. We do expect similar gold production from our Timmins operation in Q4 as we continue to address geotechnical conditions at the Bell Creek mine, where we have discovered wide zones of new resources adjacent to reserves. Your email address will not be published. Pan American Silver ... Our Escobal mine remains in care and maintenance, pending the ILO 169 consultation process, which is led by Guatemala's Ministry of Energy and Mines. Revenue associated with this dore inventories were not recorded in Q3 due to timing of shipments and will be reflected in revenue in the normal course. But for these projects, we're getting pretty good mobilization each shift at this point. We're seeing some areas potentially like 20 meters plus with some of the stopes, which is substantially greater than anything we saw up in the upper areas. Well, the ILO 169 is run by the government. But do you think -- or kind of -- have you made any changes to the protocols? So we're going really well on that. We are also maintaining our forecast for operating costs. Turning now to an update on our growth catalysts. If I remember correctly, you did about 370 gram per tonne from La Colorada. Protestors had gathered at the entrance to the mine to protest the lack of community consultation on the project. And thanks for taking my questions here. Net realizable value inventory adjustments reduced all-in sustaining costs by $5.96 per ounce, mainly from increased precious metal prices for the heap leach pad inventory at the Dolores mine. Why would Pan American Silver want to impose a mine in Guatemalan communities where tens of thousands have voted against the activity and where communities have spent almost three years maintaining 24-hour blockade of mine related traffic? Or was it something with -- or did you also have some ground condition issues? And as we look at it, break the chain and transmission. It doesn't require a significant amount of development, but we do have something to do there. Of course. During Q3, we repaid $110 million on our credit facility and an additional $30 million in October. We are expecting increased gold production in Q4 as replenishment of inventories on our heaps was complete in Q3. Several were injured, one very seriously. We have reduced our forecast for annual capital expenditures by approximately $15 million. Siren Fisekci -- Vice President, Investor Relations. I can -- yes, I can address that, Mark. Please go ahead. That material in today's call contains certain statements and information that constitute forward-looking statements and information. Thanks. But I think we're talking within the -- a quarter or two, it's going to ramp up fairly quickly because it is a small area. So the second raise that we're describing is a surface to the 345-meter level beneath surface raise, and that's progressing now in the midst of our COVID protocols. Thanks, Michael and team. I mean, overall, it's really good news. The project is currently suspended and a proper consultation process has been ordered by the … And it's a good -- great area, good, thick, wide zone. Thank you, everyone, for joining us today to discuss our third quarter results. Pan American Silver engages in both near-site mine and regional exploration programs. So I think, right now, everybody is still very focused on the pandemic. We expect, if everything stays the same, to pay that back by the end of the year. And that's what we expect to get back into as we open up that area. That's all from me, guys. Weekly Update 4 November: US election - labour & business leaders call for full vote count, Weekly Update 28 October: Latest on UN treaty negotiations on business & human rights, COVID-19: Spike in allegations of labour abuse against migrant workers in the Gulf. And once you get back into that higher-grade zone -- clearly, you did about 300 gram per tonne on the silver side. Iron price jumps as Chinese imports continue at record pace, BMC tables updated feasibility for ‘silver-dominant’ mine in the Yukon, Kodiak drills 192 metres of 1.21% copper-equivalent at MPD, Caldas Gold posts record intercept at Marmato, Hecla’s Lucky Friday back at full production in Q4, Argentina mining exports to drop by 25% in 2020. We see waves coming back in the winter time here in North America and Europe. The legislature is not sitting right now, I don't know when they start doing that again. Until then, stay safe and all the best. For nearly a decade, Xinka people affected by the Escobal silver mine have been struggling to protect their land, water and way of life from mining. The $65.3 million of net earnings included $27.1 million of mine care and maintenance costs and $13.1 million of investment income primarily related to the fair value adjustment for our interest in New Pacific Metals. Thank you. Maybe first off on La Colorada. The other 60% comes from Timmins West and quite a bit of that 40% of the production rate comes from above this 1,120 zone. But in terms of dividend yield, if I compare you today to the previous dividend you paid, we're not to the same level yet. But again, as I mentioned, we did get the cable in. But despite the challenges of being heard, Guatemalan communities are raising serious questions about the company’s acquisition of the Escobal mine with its 2019 purchase of Tahoe … It's actually run by the Ministry of Mines of Guatemala, not by Pan American, so I can't tell you exactly how it's going to happen. Yeah, yeah. As you know, we use the internal raise plus the ramp, so it doesn't really -- it's not critical for next year if the main raise is in a little bit earlier or later. We will then open the call to questions and answers. Q1 into Q2 will be back to normal. And we'll see from next year on more money spent at La Colorada. Obviously, I'm not a pandemic specialist. Pan American Silver (NASDAQ:PAAS)Q3 2020 Earnings CallNov 05, 2020, 11:00 a.m. We don't anticipate any further delays there. I'm not sure yet what that means. The Canadian lawsuit is not related to the suspension of Tahoe’s mining license by the Constitutional Court of Guatemala, and the case will not impact the ongoing consultation process in Guatemala regarding the mine. We're actually doing the pilot hole for the raise bore now, so the ground has been completely grouted. Thank you, operator, and welcome, everyone, to Pan American Silver's third-quarter 2020 conference call. © 2020 Glacier Media Group, All Rights Reserved. Revenue was impacted by lower quantities of metals sold, partially offset by strong realized prices for gold and silver. I mean -- I think the change was more from -- since we obviously took over after the transaction has closed, the pandemic, of course, has been a very big impact to everyone in Guatemala and everywhere in the world. Yesterday, the board approved a 40% increase to the quarterly dividend to $0.07 per common share. Looking forward to give you an update for the full year in February. China on track to import 1.2 billion tonnes of iron ore in 2020 as steelmakers upgrade plants to avoid winter production disruptions. Those were our biggest hang-ups. I don't think we'll see those kind of grades. Of course. Is there a target you're trying to get up to? In those cases where there's contagion occurring, we have very low predictability of how many people will arrive for every shift. Clearly, you've talked about sustainability of the dividend. As of today, we are down to $60 million. Their sustained opposition, and a court order suspending the mine, drove the original owner of the project, Tahoe Resources, out of business. So the two big buckets will be accretive projects and return to shareholders. Stock Advisor launched in February of 2002. I mean, it's literally one, two, three, sometimes even higher kilos with significant lead and zinc in it. During Q3, all of our mines, with the exception of Huaron and Morococha, were operating at reduced capacities to accommodate COVID-19-related protocols. “This is an important victory for us and our community,” said claimant Luis Fernando García in a press release. There is development to do there. The high-profile, six-year legal battle between a group of Guatemalan protestors and Tahoe Resources of Vancouver, Canada, has come to an end. The operations in Argentina were particularly impacted by COVID-19 and harsh winter weather, but we were able to complete final development of the COSE project and began processing high-grade ore from COSE, together with ore from the Joaquin mine at our Manantial Espejo plant. And if you recall back in our tour, you see these multi-kilo intercepts across the faces of those areas. ET. Can you give us a little color on kind of how you're thinking about that going forward? For example, we have an approved environmental management plan, which is part of our care and maintenance. Then, just over a year ago, Vancouver-based Pan American Silver picked up Tahoe Resources and its flagship Escobal mine at a fire sale price, pledging to do things differently than its predecessor. First, I'd like to say, grade-wise, we're very, very pleased with what we're seeing at both the COSE Joaquin and even the Manantial underground mining faces. As we open that ground up, and again, we're pretty deep in the deposit, we are seeing some stress there that we hadn't seen up higher in the deposit. We needed some cable to run down to the lower level to power up the fan. See you at the top! Guatemala: Xinka people demand that Pan American Silver respect their rights and put an end to the violent legacy of the Escobal mine. In addition, vulnerable individuals are not permitted to return to work at this time.
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