Operator

Thank you for standing by. My name is Tina, and I will be your conference operator today. At this time, I would like to welcome everyone to the first quarter conference call and webcast. [Operator Instructions] It is now my pleasure to turn the call over to Amanda Mallough, Vice President, Investor Relations. Please go ahead.

Amanda Mallough
Director of Investor Relations

Good morning, everyone, and thank you for joining us on today's First Quarter 2026 Financial and Operating Results for Andean Precious Metals. Joining me on the call today are Alberto Morales, Executive Chairman and Chief Executive Officer; Juan Carlos Sandoval, our CFO; our new SVP of Exploration, Operations and Growth, Victor Flores; and Dom Kizek, our VP of Finance.

Before we begin, I would like to remind listeners that certain statements made on today's call may constitute forward-looking information within the meaning of applicable securities laws. Please refer to the cautionary language included in our press release and MD&A for additional information. I will now turn the call over to Alberto.

Alberto Morales
Founder, CEO & Executive Chairman

Thank you, Amanda, and good morning, everyone.

We delivered an excellent start to 2026, highlighted by a strong production quarter, record financial results, significant free cash flow generation, continued operational execution across both assets and a meaningful strengthening of our balance sheet. Consolidated production increased approximately 28% compared to Q1 2025 and also increased quarter-over-quarter relative to Q4 2025 as