Greetings and welcome to Fortuna Silver Mines 2017 Year-End Financial & Operational Results. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Carlos Baca. Please begin.

Thank you, Dana. Good morning, ladies and gentlemen. I would like to welcome you all to Fortuna Silver Mines and to our Fourth Quarter 2017 and Full Year 2017 Financial and Operational Results Call. Today, we will be using a webcast presentation, which will be controlled by us. You can download the presentation at our website. Please click on the Investors tab then click on Financials its under Q4, click on Earnings Call webcast. Jorge Alberto Ganoza, President, CEO and Director; and Luis Dario Ganoza, CFO, will be hosting the call from Lima, Peru. Before I turn over the call to, Jorge, I would like to indicate that this earnings call contains forward-looking information that is based on the Company's current expectations, estimates and beliefs. This forward-looking information is subject to a number of risks, uncertainties and other factors. Actual results could differ materially from our conclusion, forecast or projection in the forward-looking information. Certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection, as reflected in the forward-looking information. Additional information about the material factors that could cause actual results to differ materially from the conclusion, forecast or projection in the forward-looking information and the material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, as reflected in the forward-looking information, is contained in the Company's Annual Information Form, which is publicly available on SEDAR. I would now like to turn the call over to Jorge Ganoza, President, CEO and Co-Founder of Fortuna.

Thank you, Carlos, and good morning to all. I will give you a brief introduction to our year-end results, and then turn the call to Luis, who will take you through the financial statements. After that, we'll open the call for questions and answers. The 2017 results show record production in both silver and gold. On a consolidated basis, silver production was 8.5 million ounces and our gold production was 56,400 ounces, 15% and 21% above 2016 as shown in slide 4 of the presentation. When compared against our annual guidance, silver was up 4% and gold production at 8%. In slide 5, we show that precious metals contribution to sales was 73% in the year. The balance is comprised by base metals. Year-over-year realized prices for silver and gold remained essentially the same. It was a different story with our zinc and lead by-products, higher metal prices for both metals and improved commercial terms for the sale of concentrates meant a year-over-year increment of net realized prices of 71% for zinc and 47% for lead. This was particularly relevant for the economic performance of our Caylloma mine this year. In slide 6, 2017 shows a record financial performance across our main financial metrics. Sales were $268.1 million, 27% above the prior year. Net income of $66.3 million 270% above our prior year, while earnings per share were $0.42 compared to $0.13 in 2016. Adjusted EBITDA was $122 million yielding an EBITDA margin of 46% and 40% above EBITDA over the prior year. Our net income carries a $31 million impairment reversal at Caylloma derived from successful exploration programs which led to the expansion of resource. Adjusted net income was $48.6 million for the year. In slide 7, our consolidated all-in sustaining cash cost per ounce of silver net of…

Thank you, Jorge. I'm starting with slide 14 and the result for the quarter. In the fourth quarter of 2017, we recorded net sales of $75.4 million up 30% from the prior year driven by higher precious metals production, higher metals prices for our billion-products and improved commercial terms on our mineral concentrate products. We reported net income of $34.1 million compared to $6.5 million in 2016 and adjusted net income of $12.3 million compared to $7.1 million. The largest component of the adjustment to net income the reversal at the Caylloma mine as Jorge mentioned or $21.1 million before tax or $21.9 million after tax. Earnings per share was $0.21 and adjusted earnings per share was $0.08. Cash provided by operating activities was $29 million, up 12% from 2016. Adjusted EBITDA was at quarterly record of $24.8 million, up 19% and free cash flow was $14.5 million compared to $18.3 million in 2016, as the amount of capital expenditures in 2016 took place in the first three quarters of the year. Cash and short-term investments, as at the end of the period was $212.6 million dollars. On slide 15, and for the full year 2017, as Jorge has mentioned we recorded net sales of $268 million, 27% above the prior year. The same factors driving our sales in the last quarter of 2017 were present throughout the full year. We reported net income of $66.3 million compared to $17.9 million in 2016 and adjusted net income of $48.6 million compared to $18.1 million in 2016. Earnings per share was $0.42 cents and the adjusted earnings per share was $0.31 and our EBITDA was a record $122 million as Jorge pointed, up 47% percent from the prior year and free cash flow was positive $24.4 million compared to $4.9 million…

Thank you, Luis. We would now like to turn the call over to any questions that you may have.

Thank you, Dana. If there are no further questions. I would like to thank everyone for listening to today's earnings call and we look forward to you joining us next quarter. Have a good day.

This concludes today's teleconference. You may disconnect your lines at this time. Thank you for your participation.