Craig Hutchison: I was wondering if you guys can give us an update with respect to Pitarrilla, what some of the milestones are. I know you had some issues around ground control. But any kind of milestones in terms of the exploration work there and potential for an updated PEA?
Dan Dickson: Yes. No, that’s a great question, Craig. Thank you. Ultimately, we wished we were drilling at Pitarrilla this quarter. As you touched on, we had some ground issues, the fault that we’re getting through, we support it. But ultimately, there continue to be rock falls in the old pattern that was there. So we are doing a parallel add, and we’ve taken that drill program and ultimately put it into an added advance this year. So we will not be drilling Pitarrilla until January possibly February of next year. Still allows us to do that PEA or start doing economic studies on Pitarrilla next year. But we want to make sure we get that out complete, get the drilling done on what we think is some feeder zones and then ultimately look at this project as potentially a next development project after Terronera. And that would be, like I said, starting to make those economic studies, hopefully midyear to end of next year.
Craig Hutchison: Okay. And just one other question for me. Just with regards to the debt funding, there’s a stipulation that you’ll need a cost overrun funding in the form of cash or letter of credit up to $48 million. How should we think about that? Is that a requirement? Would that effect become like restricted cash requirement you have to hold for a certain period, or how do we just understand that $48 million requirement?
Dan Dickson: Yes. It’s a very good question, fair question. It’s actually broken into two tranches. So the first $60 million of $120 million is available to us with costs overrun funding of $24 million. Ultimately, it wouldn’t be restricted. However, it’s almost treated like restricted cash. And then, of course, when the next $60 million funding comes of $120 million, another $24 million required. Now we’ll look at where we are from a project construction standpoint and whether the full $48 million of overrun funding is required, and we’ll do that with the independent engineers. So, we’ll come to that sometime, I guess, midyear in 2024. But your question, is that restricted? Possibly yes.
Craig Hutchison: Okay. And maybe just maybe as a follow-up, I guess, would it be fair to say you have more to do on the ATM facility this quarter just to kind of get your cash position up ahead of that drawdown?
Dan Dickson: Yes, it’s very possible if the market allows it. Obviously, we want us to be performing as expected, and that impacts our balance sheet. Now I think our balance sheet is in great shape. We have over $41 million of cash at the end of the quarter with $76 million in working capital. There are some levers on our long term. We had — about $18 million related to Terronera that hopefully we can get to current in relatively short order. So, that gives us more funding that’s available, almost $96 million of working capital if we include that. So I think we’re in really good shape, but it’s something that we have to be mindful of while we’re in development and with these markets, so, we will be, and I think we’re doing a good job managing that.
Operator: This concludes the question-and-answer session. I would like to turn the conference back over to Dan Dickson for any closing remarks.
Dan Dickson: Thanks, operator, and thank you, everyone joining our Q3 call. Again, I think it’s important to note that management is working to resolve some of these cost issues that we have at Guanaceví. I think that’s going to be done through getting our output up to where we expect it to be and on plan. Thank you, everyone. I look forward to having our Q4 call and financial release for 2023 and talk to everybody again in March 2024. Thank you.
Operator: This concludes today’s conference call. You may disconnect your lines. Thank you for participating, and have a pleasant day.
