Good afternoon. My name is Ynah, and I will be your conference operator today. At this time, I would like to welcome everyone to the Silvercorp Second Quarter Fiscal 2024 Financial Results Conference Call. [Operator Instructions] Thank you. I would now like to turn the conference over to Mr. Lon Shaver, President of Silvercorp Metals. Please go ahead.

Thank you, Ynah. On behalf of Silvercorp, I'd like to welcome you all for joining the call today to discuss our second quarter fiscal 2024 financial results. They were released yesterday after market. And a copy of the news release, MD&A, the financial statements for today's call are available on our website. Before we get started, I'm required to remind you that certain statements on today's call may contain forward-looking information within the meaning of applicable securities laws. Please review the cautionary statements included in our news release and presentation as well as the risk factors described in our most recent 10-Q and Form 40-F and annual information form. So with respect to the quarter, revenue in Q2 was $54 million. That was up 4% compared to the prior year quarter. And this increase was due to higher net realized selling prices for silver, gold and lead, which increased 27%, 38% and 2%, respectively, and also due to a 110% increase in gold sales. This offset the lower silver, lead and zinc sold. Based on production levels and realized prices this quarter, silver was 58% of revenue on a net basis. And that's up from 54% in Q2 of fiscal 2023. Q2 net earnings attributable to equity shareholders were $11.1 million, or $0.06 a share. And that compared to a net loss of $1.7 million, or $0.01 per share in the same period last year. The main contributors to the increase in earnings were the higher realized silver, gold and lead prices I mentioned earlier, the higher gold sales. And also, we did not have an impairment of mineral rights and properties, which we incurred in the previous period. This increase though was offset by a 27% decrease in the realized zinc price and also a 12%, 12% and 23%…

[Operator Instructions] Your first question comes from the line of Joseph Reagor from ROTH MKM.

So at GC, you guys are obviously trending a little below expectations with the issues in Q2. Do you think you can make up the tonnes to meet the low end of guidance on tonnage by the end of the year? Or is it just a matter of like seeing how much you can make up and then revising later?

Yes, I mean, I think the first thing to say is that GC is back up and running according to plan, if not even ahead of plan with respect to tonnage. I think what we're more focused on is really from a corporate standpoint, and also just given the relative size of GC to Ying, what's really important with respect to guidance is that we still see silver as being achievable from a low-end standpoint of guidance. Yes, lead and zinc looks difficult at this point here. But we're talking about sort of rounding numbers, not huge differences.

Fair enough. And then obviously, as the -- as it ramps back up to normal rate, we should expect the operating cost per tonne to come back down in your fiscal Q3, right?

Yes. I mean, we have, at all the mines, a bit of a small numbers factor that can bite us when those small tonnage numbers are made even smaller and you're having to allocate those costs to smaller tonnes. And so we've seen that over periods. So yes, with it back up and running, we see things falling back into line and more normal operating rates and costs going forward.

Okay. And then based on current expectations for the OreCorp transaction, if it closes on time, what would be the time frame thereafter that we would see an updated financial study with your guys' outlook for the project?

Yes, that's anticipated in terms of a technical report that we would issue, exact nature of it to be determined still but probably in sort of January, February time frame in terms of an initial report. But obviously, we look to give as much guidance in advance of that as we can.

[Operator Instructions] And your next question comes from the line of Felix Shafigullin from Eight Capital.

So my question is around the alternative plan for expanding the processing capacity at Ying. Now I understand it's probably early days. But can you give a ballpark figure for what you're expecting the CapEx to be to add this extra processing line at Mill No. 2? And also, how much money is left there to be spent on the new tailings facility?

We'll tackle the second question first. We're at roughly $8.9 million. And as you recall, the cost was $38 million, so we would have $30 million to go through, through the next sort of, I guess, it would be 5 quarters really from a calendar standpoint to get to the end of 2024 calendar. And then with respect to your first question, yes, we're still working on the estimates. Our sense is the numbers here would come in sub-$10 million. So it's actually quite a reasonable cost with respect to getting that production increase. And the other [indiscernible] of it is from a time frame, we can see it being completed at some point over the course of 2024, which, as you recall, is ahead of schedule relative to the No. 3 Mill plan that we've articulated.

Okay, that makes sense. And if I recall correctly, I think you were using the No. 1 Mill -- most of the gold processing was happening at the No. 1 mill. Will that be able -- will that remain to be the case going forward?

That's a bit to be determined. Obviously, with the No. 3 Mill plan, we are anticipating shutting Mill No. 1. Now if we're keeping it open and looking at Kuanping, we may actually dedicate Mill No. 1 to address ore coming from Kuanping, in which case we would move the gold circuit over to the No. 2 Mill. But that's yet to be finalized.

[Operator Instructions] This concludes the question-and-answer session. I would like to turn the conference back over to Mr. Lon Shaver for any closing remarks.

Okay. Well, thank you, operator. Thanks, everyone, for joining today. We appreciate your time and interest. And as we finish the call, please remember that our lines of communication are always open. If you have additional questions that you didn't get to put to us on the call today, please reach out to us by phone or e-mail, and we will follow up with you and get you the information that you need. As we head into the holiday season, sending our best wishes for a wonderful and relaxing time for you and your loved ones. And we are looking forward to what promises to be an exciting and successful 2024.

Thank you. This concludes today's conference call. You may disconnect your lines. Thank you for participating, and have a pleasant day.