<SEC-DOCUMENT>0001144204-16-084431.txt : 20160226
<SEC-HEADER>0001144204-16-084431.hdr.sgml : 20160226
<ACCEPTANCE-DATETIME>20160226070308
ACCESSION NUMBER:		0001144204-16-084431
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160226
FILED AS OF DATE:		20160226
DATE AS OF CHANGE:		20160226

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BUENAVENTURA MINING CO INC
		CENTRAL INDEX KEY:			0001013131
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14370
		FILM NUMBER:		161457918

	BUSINESS ADDRESS:	
		STREET 1:		AVE CARLOS VILLARAN 790
		CITY:			LIMA
		STATE:			R5
		ZIP:			13
		BUSINESS PHONE:		5114192536

	MAIL ADDRESS:	
		STREET 1:		AV. CARLOS VILLARAN 790
		CITY:			LIMA
		STATE:			R5
		ZIP:			13
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>v432806_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt">FORM 6-K</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Report of Foreign Issuer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Pursuant to Rule 13a-16 or 15d-16 of the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">For the month of February 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>BUENAVENTURA
MINING COMPANY INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;(Translation of Registrant's Name
into English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">CARLOS VILLARAN 790</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;SANTA CATALINA, LIMA 13, PERU</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of Principal Executive Offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form 20-F <FONT STYLE="font-family: Wingdings">&#120;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Form 40-F <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark whether the registrant
by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Yes <FONT STYLE="font-family: Wingdings">&#168;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No <FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">If &quot;Yes&quot; is marked, indicate below
the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-________________.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD ROWSPAN="25" STYLE="line-height: 107%"><IMG SRC="image_003.jpg" ALT=""></td>
    <TD COLSPAN="8" STYLE="text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Buenaventura Announces Fourth
Quarter and</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Full
Year 2015 Results</P>



<FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></td></tr>
<tr style="vertical-align: top">
    <td colspan="8" style="padding-right: 3.75pt; text-align: justify; line-height: 107%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="8" style="padding-right: 3.75pt; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"></FONT>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.75pt 0pt 0; text-align: justify">Lima, Peru, February 25, 2016
&ndash; <B>Compa&ntilde;ia de Minas Buenaventura S.A.A.</B> (&ldquo;Buenaventura&rdquo; or &ldquo;the Company&rdquo;) (NYSE: BVN;
Lima Stock Exchange: BUE.LM), Peru&rsquo;s largest publicly-traded precious metals mining company, announced today results for
the fourth quarter (4Q15) and twelve month (&ldquo;2015&rdquo;) periods ended December 31, 2015. All figures have been prepared
in accordance with IFRS (International Financial Reporting Standards) on a non GAAP basis and are stated in U.S. dollars (US$).</P>



<FONT STYLE="font: 10pt Times New Roman, Times, Serif"></font></td></tr>
<tr style="vertical-align: top">
    <td colspan="8" style="padding-right: 3.75pt; text-align: justify; line-height: 107%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="8" style="padding-right: 3.75pt; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fourth Quarter 2015 Highlights:</b></font></td></tr>
<tr style="vertical-align: top">
    <td colspan="8" style="padding-right: 3.75pt; text-align: justify; line-height: 107%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;&bull;</font></td>
    <td colspan="7" style="padding-left: 3pt; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">In 4Q15, EBITDA from direct operations was US$16.0 million and adjusted EBITDA (including associated companies)
was US$295.2 million.</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;&bull;</font></td>
    <td colspan="7" style="padding-left: 3pt; text-align: justify; line-height: 107%">Total attributable production in 4Q15 was 182k gold ounces and 6.5 million silver ounces (compared to
245k gold ounces and 5.5 million silver ounces in 4Q14).</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;&bull;</font></td>
    <td colspan="7" style="padding-left: 3pt; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Full year 2015 attributable production was 759k gold ounces and 22.3 million silver ounces (compared to 846k
gold ounces and 19.7 million silver ounces in 2014).</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;&bull;</font></td>
    <td colspan="7" style="padding-left: 3pt; text-align: justify; line-height: 107%"><P STYLE="margin: 0pt 0">Gold production from direct operations will increase in 2017, once Tambomayo starts operating at full
capacity (Tambomayo will add 150-170k gold ounces)</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;&bull;</font></td>
    <td colspan="7" style="padding-left: 3pt; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">The Tambomayo project is in line with budget. Civil works are at 30% of progress, exploration and development
at 80%. Production ramping up is expected by 4Q16.</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;&bull;</font></td>
    <td colspan="7" style="padding-left: 3pt; text-align: justify; line-height: 107%"><P STYLE="margin: 0pt 0">Silver production in 2015 was in line with the guidance provided, despite one month strike at Uchucchacua
mine.</P>


</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;&bull;</TD>
    <TD COLSPAN="7" STYLE="padding-left: 3pt; text-align: justify; line-height: 107%"><P STYLE="margin: 0pt 0">During 4Q15, El Brocal reached full production capacity level of 18K TPD.</P>


</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;&bull;</font></td>
    <td colspan="7" style="padding-left: 3pt; text-align: justify; line-height: 107%"><P STYLE="margin: 0pt 0">Cerro Verde&rsquo;s plant expansion project (from 120k TPD to 360K TPD) was completed in 4Q15. Expected
production for 2016 is 550k &ndash; 600k TM.</P>


</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;&bull;</font></td>
    <td colspan="7" style="padding-left: 3pt; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Yanacocha will distribute dividends of US$300 million in March 2016 (BVN will receive its equity share
of US$130 million).</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 3.75pt; text-align: justify; line-height: 107%">&nbsp;</td>
    <td colspan="7" style="padding-right: 3.75pt; text-align: justify; line-height: 107%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 3.75pt; text-align: justify; line-height: 107%">&nbsp;</td>
    <td colspan="7" style="padding-right: 3.75pt; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Financial Highlights </b>(in millions of US$, except EPS figures):</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 3.75pt; text-align: justify; line-height: 107%">&nbsp;</td>
    <td colspan="7" style="padding-right: 3.75pt; text-align: justify; line-height: 107%">&nbsp;</td></tr>
<tr>
    <TD STYLE="padding-right: 3.75pt; text-align: justify; line-height: 107%">&nbsp;</td>
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</td>
    <TD STYLE="background-color: #174131; text-align: center; line-height: 107%; padding-top: 6pt; padding-bottom: 6pt"><font style="font: 10pt Times New Roman, Times, Serif; color: white"><b>4Q15</b></font><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
    <TD STYLE="background-color: #174131; text-align: center; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif; color: white"><b>4Q14</b></font><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
    <TD STYLE="background-color: #174131; text-align: center; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif; color: white"><b>Var%</b></font><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
    <TD STYLE="background-color: #174131; text-align: center; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif; color: white"><b>FY15</b></font><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
    <TD STYLE="background-color: #174131; text-align: center; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif; color: white"><b>FY14</b></font></td>
    <TD STYLE="background-color: #174131; text-align: center; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif; color: white"><b>Var%</b></font><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
    <TD STYLE="padding-right: 3.75pt; text-align: justify; line-height: 107%">&nbsp;</td>
    <TD STYLE="vertical-align: top; padding-right: 3.75pt; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total Revenues</b></font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%">234.7<P STYLE="margin: 0pt 0"></P>


</td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">276.5</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif"><b>-15%</b></font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">951.9</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">1,175.8</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif"><b>-19%</b></font></td></tr>
<tr>
    <TD STYLE="padding-right: 3.75pt; text-align: justify; line-height: 107%">&nbsp;</td>
    <TD STYLE="vertical-align: top; padding-right: 3.75pt; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Operating Profit</b></font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">-55.1</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">-18.3</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif"><b>201%</b></font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">-149.8</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">61.6</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif"><b>N.A.</b></font></td></tr>
<tr>
    <TD STYLE="padding-right: 3.75pt; text-align: justify; line-height: 107%">&nbsp;</td>
    <TD STYLE="vertical-align: top; padding-right: 3.75pt; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>EBITDA Direct Operations</b></font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">16.0</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">35.3</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif"><b>-55%</b></font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">105.2</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">274.1</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif"><b>-62%</b></font></td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 107%">&nbsp;</td>
    <TD STYLE="vertical-align: top; padding-right: 3.75pt; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Adjusted EBITDA (Inc Associates)</b></font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">295.2</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">181.5</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif"><b>63%</b></font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">600.7</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">672.0</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif"><b>-11%</b></font></td></tr>
<tr>
    <TD STYLE="padding-right: 3.75pt; text-align: justify; line-height: 107%">&nbsp;</td>
    <TD STYLE="vertical-align: top; padding-right: 3.75pt; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Net Income </b></font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">-292.6*</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">-161.4</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif"><b>81%</b></font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">-317.2*</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">-76.1</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif"><b>317%</b></font></td></tr>
<tr>
    <TD STYLE="padding-right: 3.75pt; text-align: justify; line-height: 107%">&nbsp;</td>
    <TD STYLE="padding-right: 3.75pt; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>EPS**</b></font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">-1.15</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">-0.63</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif"><b>81%</b></font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">-1.25</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif">-0.30</font></td>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 107%"><font style="font: 10pt/107% Times New Roman, Times, Serif"><b>317%</b></font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 3.75pt">&nbsp;</td>
    <td colspan="7" style="padding-right: 3.75pt; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(*)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Includes deferred income tax write-off from Yanacocha of US$-223 million.</font><br>
<font style="font: 10pt Times New Roman, Times, Serif">(**)&nbsp;&nbsp;&nbsp;as of December 31, 2015 Buenaventura had 254,186,867 outstanding shares.</font></td></tr>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 30%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(11,94,84)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 0; padding-bottom: 0; width: 100%"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: White"><B>Operating
    Revenues</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">During 4Q15, net sales were US$227.5 million,
a 14% decrease compared to the US$264.6 million reported in 4Q14. This was mainly explained by the decrease in metal prices as
well as lower gold and copper volume sold.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Royalty income decreased 39%, to US$7.2
million in 4Q15 compared to the US$11.9 reported in 4Q14. This was due to lower revenues at Yanacocha (32% lower QoQ).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="width: 34%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Operating Highlights</b></font></td>
    <td style="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td style="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q14</b></font></td>
    <td style="width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var%</b></font></td>
    <td style="width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #EBF1DE"><b>FY15</b></font></td>
    <td style="width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #EBF1DE"><b>FY14</b></font></td>
    <td style="width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #EBF1DE"><b>Var%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Net Sales </b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>(in millions of US$)</b></P></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">227.5</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">264.6</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-14%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">919.5</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,138.9</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-19%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average Realized Gold Price (US$/oz) <sup>1 2</sup> </b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,093</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,192</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-8%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,151</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,263</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-9%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average Realized Gold Price (US$/oz) inc. Affiliates <sup>3</sup></b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,096</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,194</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-8%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,154</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,258</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-8%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average Realized Silver Price (US$/oz) <sup>1 2</sup></b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.46</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.76</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-8%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.06</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">18.65</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-19%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average Realized Lead Price (US$/MT)<sup> 1 2</sup></b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,665</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,994</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-16%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,712</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,107</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-19%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Average Realized </b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Zinc Price (US$/MT)<sup> 1 2</sup></b></P></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,447</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,240</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-35%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,839</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,244</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-18%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average Realized Copper Price (US$/MT)<sup> 1 2</sup></b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,332</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,591</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-34%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,515</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,738</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-33%</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="width: 28%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 0.7pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Volume Sold</b></font></td>
    <td style="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td style="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q14</b></font></td>
    <td style="width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var%</b></font></td>
    <td style="width: 14%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #EBF1DE"><b>FY15</b></font></td>
    <td style="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #EBF1DE"><b>FY14</b></font></td>
    <td style="width: 10%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #EBF1DE"><b>Var%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Gold Oz Direct Operations <sup>1</sup></b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">93,352</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">102,043</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-9%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">380,899</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">436,257</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-13%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Gold Oz inc Associated Companies <sup>3</sup></b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">207,701</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">260,810</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-20%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">841,818</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">914,627</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-8%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Silver Oz <sup>1</sup></b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,575,608</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,075,656</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>30%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,023,873</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">19,045,010</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Lead MT <sup>1</sup></b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,302</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,470</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>88%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">32,389</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">18,599</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>74%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Zinc MT <sup>1</sup></b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16,087</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,961</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>62%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">55,529</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,904</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>166%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Copper MT <sup>1</sup></b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,176</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,451</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-12%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">29,094</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40,263</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-28%</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Buenaventura&rsquo;s Direct Operations includes 100% of Buenaventura&rsquo;s operating units, 100%
of La Zanja and 100% of El Brocal</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">The realized price considers the adjustments of quotational periods</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">Considers 100% of Buenaventura&rsquo;s operating units, 100% of La Zanja, 100% of El Brocal, 40.95%
of Coimolache and 43.65% of Yanacocha</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For 2015, net sales decreased 19%, from
US$1,138.9 million in 2014 to US$919.5 million in 2015. Royalty income for 2015 was US$32.4 million (US$36.9 million in 2014).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 30%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(11,94,84)">
    <TD STYLE="padding: 0 6pt; font-size: 10pt; width: 100%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: White"><B>Production
    and Operating Costs</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 4Q15, Buenaventura&rsquo;s gold equity
production from direct operations decreased 14%, from 104,166 ounces in 4Q14 to 90,034 ounces in 4Q15 due to the decline in production
at Breapampa mine (no production in 4Q15 vs 13,178 gold ounces in 4Q14). Gold production including associated companies in 4Q15
was 182,247 ounces, 26% lower than the reported in the same period 2014, explained by a decrease in production from Yanacocha.
Silver equity production from direct operations increased 14%, mainly due to higher production at Uchucchacua mine (13.9 million
silver ounces in 2015 vs 12.1 million silver ounces in 2014).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="width: 34%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity Production</b></font></td>
    <td style="width: 12%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #0C5B54; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td style="width: 12%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #0C5B54; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q14</b></font></td>
    <td style="width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #0C5B54; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var%</b></font></td>
    <td style="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #0C5B54; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #EBF1DE"><b>FY15</b></font></td>
    <td style="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #0C5B54; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #EBF1DE"><b>FY14</b></font></td>
    <td style="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #0C5B54; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #EBF1DE"><b>Var%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Gold Oz Direct Operations<sup>1</sup></b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">90,034</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">104,166</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-14%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">358,003</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">422,135</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-15%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Gold Oz including Associated Companies</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">182,247</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">244,854</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-26%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">758,575</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">845,515</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-10%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Silver Oz Direct Operations<sup>1</sup></b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,314,489</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,350,072</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>18%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,740,350</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">19,074,255</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Silver Oz including Associated Companies</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,506,921</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,491,990</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>18%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22,325,087</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">19,659,822</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Lead MT</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,779</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,012</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>46%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">28,476</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,227</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>41%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Zinc MT</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,642</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,509</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>49%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">43,750</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22,038</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>99%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Copper MT Direct Operations<sup>1</sup></b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,034</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,886</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-14%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17,674</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,678</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-25%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Copper MT including Associated Companies</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,757</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16,851</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>41%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">66,032</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">68,106</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-3%</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Orcopampa&rsquo;s</B> <B>(100% owned
by Buenaventura)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap colspan="14" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Production</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap colspan="3" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q14</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2015</b></font></td>
    <td nowrap colspan="3" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2014</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td></tr>
<tr>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Gold </b></font></td>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Oz</b></font></td>
    <td nowrap colspan="3" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">48,606</font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">54,878</font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-11%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">204,629</font></td>
    <td nowrap colspan="3" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">203,226</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1%</b></font></td></tr>
<tr>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Silver</b></font></td>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Oz</b></font></td>
    <td nowrap colspan="3" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">170,254</font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">143,925</font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>18%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">562,795</font></td>
    <td nowrap colspan="3" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">423,148</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>33%</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap colspan="3" style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap colspan="2" style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap colspan="2" style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap colspan="3" style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap colspan="14" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Cost Applicable to Sales</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q14</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td>
    <td nowrap colspan="3" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2015</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2014</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Gold</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>US$/Oz</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">693</font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">697</font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-1%</b></font></td>
    <td nowrap colspan="3" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">680</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">777</font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-12%</b></font></td></tr>
<tr>
    <td style="width: 8%">&nbsp;</td>
    <td style="width: 10%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 10%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 11%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 13%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 13%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 17%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 12%">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gold production at Orcopampa decreased
11% in 4Q15 (compared to 4Q14) due to lower ore grade (Appendix 2). Cost Applicable to Sales (CAS) in 4Q15 was US$ 693/oz of gold,
in line with the Cost Applicable to Sales (CAS) reported in 4Q14.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gold production guidance for 2016 is 200k
&ndash; 210k ounces.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><SUP>1 Direct Operation production includes
100% of Buenaventura&rsquo;s operating units, 53.06% of La Zanja, 54.07% of El Brocal and 40.10% of Coimolache.</SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Uchucchacua</B> <B>(100% owned by Buenaventura)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap colspan="8" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Production</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap style="width: 8%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="width: 11%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="width: 13%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap style="width: 13%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q14</b></font></td>
    <td nowrap style="width: 11%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td>
    <td nowrap style="width: 19%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2015</b></font></td>
    <td nowrap style="width: 14%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2014</b></font></td>
    <td nowrap style="width: 11%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td></tr>
<tr>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Silver</b></font></td>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Oz</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,118,509</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,395,628</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>21%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13,919,922</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,055,570</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>15%</b></font></td></tr>
<tr>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Zinc</b></font></td>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MT</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,602</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,504</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>6%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,692</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,349</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-10%</b></font></td></tr>
<tr>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Lead </b></font></td>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MT</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,565</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,086</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>23%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,433</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,605</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>11%</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap colspan="8" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Cost Applicable to Sales</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q14</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2015</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2014</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Silver</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>US$/Oz</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.97</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.99</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-13%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.97</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.34</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-15%</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Silver production in 4Q15 increased 21%
compared to 4Q14, due to higher ore treated and higher ore grade (Appendix 2). Cost Applicable to Sales (CAS) in 4Q15 decreased
13% compared to 4Q14, mainly explained by lower labor cost due to higher exchange rate, lower consumable costs (explosive materials),
reagents costs and more silver ounces sold (4.1 million silver ounces in 4Q15 compared to 3.2 million silver ounces in 4Q14).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Silver production guidance for 2016 is
15.5 million &ndash; 16.5 million ounces.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Mallay (100% owned by Buenaventura)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap colspan="10" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Production</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q14</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2015</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2014</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td></tr>
<tr>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Silver</b></font></td>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Oz</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">357,236</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">309,213</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>16%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,285,361</font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,216,034</font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>6%</b></font></td></tr>
<tr>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Zinc</b></font></td>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MT</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,407</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,333</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,173</font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,893</font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-7%</b></font></td></tr>
<tr>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Lead </b></font></td>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MT</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,841</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,876</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-2%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,193</font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,513</font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-4%</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap colspan="2" style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap colspan="2" style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap colspan="10" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Cost Applicable to Sales</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q14</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2015</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2014</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Silver</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>US$/Oz</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.77</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.80</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8%</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.90</font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.76</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1%</b></font></td></tr>
<tr>
    <td style="width: 9%">&nbsp;</td>
    <td style="width: 17%">&nbsp;</td>
    <td style="width: 12%">&nbsp;</td>
    <td style="width: 12%">&nbsp;</td>
    <td style="width: 11%">&nbsp;</td>
    <td style="width: 13%">&nbsp;</td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 13%">&nbsp;</td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 9%">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Silver production in 4Q15 increased 16%
compared to 4Q14, due to higher ore treated (Appendix 2). Cost Applicable to Sales (CAS) in 4Q15 was 8% higher compared to 4Q14
due to lower by-product contribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Silver production guidance for 2016 is
1.5 million &ndash; 1.9 million ounces.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Julcani (100% owned by Buenaventura)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap colspan="11" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Production</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q14</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2015</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2014</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td></tr>
<tr>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Silver</b></font></td>
    <td nowrap colspan="2" style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Oz</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">868,662</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">782,652</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>11%</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,266,453</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,084,347</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>6%</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap colspan="2" style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap colspan="2" style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap colspan="2" style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap colspan="11" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Cost Applicable to Sales</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q14</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2015</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2014</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Silver</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>US$/Oz</b></font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.32</font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.97</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-19%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.30</font></td>
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.14</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-13%</b></font></td></tr>
<tr>
    <td style="width: 10%">&nbsp;</td>
    <td style="width: 11%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 13%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 10%">&nbsp;</td>
    <td style="width: 14%">&nbsp;</td>
    <td style="width: 16%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 13%">&nbsp;</td>
    <td style="width: 10%">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Silver production in 4Q15 increased 11%
compared to 4Q14 production, due to higher ore treated and higher ore grade (Appendix 2). Cost Applicable to Sales (CAS) in 4Q15
was 19% lower than 4Q14, mainly explained by lower labor cost expenses due to higher exchange rate and lower contractors costs
due to fewer meters drifted (11% lower).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Silver production guidance for 2016 is
3.0 million &ndash; 3.4 million ounces.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>La Zanja (53.06% owned by Buenaventura)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap colspan="8" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Production</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap style="width: 12%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="width: 9%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="width: 13%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap style="width: 11%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q14</b></font></td>
    <td nowrap style="width: 13%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td>
    <td nowrap style="width: 13%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2015</b></font></td>
    <td nowrap style="width: 11%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2014</b></font></td>
    <td nowrap style="width: 18%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td></tr>
<tr>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Gold</b></font></td>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Oz</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,709</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">34,808</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">141,071</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">143,573</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-2%</b></font></td></tr>
<tr>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Silver</b></font></td>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Oz</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">89,111</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">82,594</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">331,080</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">422,395</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-22%</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap colspan="8" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Cost Applicable to Sales</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q14</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2015</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2014</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Gold</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>US$/Oz</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">832</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">703</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>18%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">789</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">569</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>39%</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gold production in 4Q15 increased 8% compared
to 4Q14. CAS in 4Q15 increased 18% compared to 4Q14, mainly explained by higher ore treated and lower ore grade (0.88 Au g/MT
in 4Q14 compared to 0.63 Au g/MT in 4Q15).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gold production guidance for 2016 is 130k
&ndash; 140k ounces.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Tantahuatay (40.10% owned by Buenaventura)
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap colspan="8" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Production</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap style="width: 12%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="width: 9%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="width: 12%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap style="width: 11%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q14</b></font></td>
    <td nowrap style="width: 13%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td>
    <td nowrap style="width: 13%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2015</b></font></td>
    <td nowrap style="width: 11%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2014</b></font></td>
    <td nowrap style="width: 19%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td></tr>
<tr>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Gold</b></font></td>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Oz</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">47,697</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">38,558</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>24%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">144,782</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">143,643</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1%</b></font></td></tr>
<tr>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Silver</b></font></td>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Oz</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">281,440</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">227,131</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>24%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">879,832</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">754,357</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>17%</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap colspan="8" style="border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Cost Applicable to Sales</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2015</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2014</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Gold</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>US$/Oz</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">388</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">475</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-18%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">489</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">455</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>7%</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gold production in 4Q15 increased 24%
compared to the figure reported in 4Q14. CAS in 4Q15 decreased 18% compared to 4Q14 mainly due to higher ore grade (0.54 Au g/MT
in 4Q14 compared to 0.66 Au g/MT in 4Q15) from Cienaga Norte mine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gold production guidance for 2016 is 140k
&ndash; 150k ounces</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>El Brocal</B> <B>(54.07%* owned by Buenaventura)
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap colspan="8" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Production</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap style="width: 9%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="width: 13%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="width: 12%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap style="width: 12%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap style="width: 11%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td>
    <td nowrap style="width: 18%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2015</b></font></td>
    <td nowrap style="width: 15%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2014</b></font></td>
    <td nowrap style="width: 10%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td></tr>
<tr>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Copper</b></font></td>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MT</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,165</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,749</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-15%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">32,061</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">43,282</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-26%</b></font></td></tr>
<tr>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Zinc</b></font></td>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MT</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,966</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,640</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>85%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">53,319</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,162</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>425%</b></font></td></tr>
<tr>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Silver</b></font></td>
    <td nowrap style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Oz</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,183,101</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">921,625</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>28%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,669,500</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,501,839</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>47%</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap colspan="8" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Cost Applicable to Sales</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2015</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2014</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Copper</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>US$/MT</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,456</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,499</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-1%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,322</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,096</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>4%</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Zinc</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>US$/MT</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,444</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,321</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>9%</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,601</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,369</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>17%</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 4Q15, Copper production decreased
15% compared to 4Q14, due to a lower recovery rate. Moreover, in 4Q15 zinc production increased 85% due to higher ore treated,
despite the lower grade.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(*) Since January 2016, the new ownership
of El Brocal is 56.29%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 4Q15, Zinc CAS increased 9% compared
to 4Q14 mainly due to higher selling expenses. Copper CAS in 4Q15 was in line with the CAS reported in 4Q14.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Zinc production guidance for 2016 is 60k
&ndash; 70k MT, while copper production guidance for 2016 is 35k &ndash; 45k MT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 30%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(11,94,84); font: bold 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 0; padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: White"><B>General
    and Administrative Expenses</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">General and administrative expenses in
4Q15 were US$25.8million, 9% lower compared to the US$28.4 million in 4Q14 figure. This is mainly due to lower third-party services.
For 2015, the expense was US$86.5 million (US$101.1 million in 2014).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 30%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(11,94,84); font-weight: bold">
    <TD STYLE="font-size: 10pt; text-align: center; padding-top: 0; padding-bottom: 0; width: 100%; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: White"><B>Exploration
    in Non-Operating Areas</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Exploration in non-operating areas during
4Q15 was US$5.0 million compared with the US$17.6 million in 3Q14. During the period, Buenaventura&rsquo;s main exploration efforts
were focused on the Tambomayo project (US$3.5 million) and Marcapunta (US$0.6 million). For 2015, the expense was US$30.6 million
(US$50.0 million in 2014).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 30%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(11,94,84)">
    <TD STYLE="width: 100%; font-size: 10pt; text-align: center; padding-top: 0; padding-bottom: 0; font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: White"><B>Share
    in Associated Companies</B></FONT></TD></TR>
</TABLE>
<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 4Q15, Buenaventura&rsquo;s share
in associated companies was negative US$235.0 million, compared to negative US$113.8 million reported in 4Q14, composed by:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="width: 34%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Share in the Result of Associates </b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>(in millions of US$)</b></P></td>
    <td style="width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q15</b></font></td>
    <td style="width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>4Q14</b></font></td>
    <td style="width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td>
    <td style="width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2015</b></font></td>
    <td style="width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>FY 2014</b></font></td>
    <td style="width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #174131; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Var %</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cerro Verde</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-2.6</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20.8</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>N.A.</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.5</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">77.9</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-92%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Coimolache </font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.5</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.0</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>30%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.6</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22.3</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-25%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yanacocha</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-238.9</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-139.7</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>71%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-196.5</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-174.7</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12%</b></font></td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-235.0</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-113.8</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>106%</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-173.4</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-74.6</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>132%</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>YANACOCHA</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At Yanacocha (43.65% owned by Buenaventura),
during 4Q15, gold production was 211,256 ounces, 34% lower than 4Q14 production (322,309 ounces). For 2015, gold production was
917,690 ounces, 5% lower than 969,944 ounces in 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gold production guidance at Yanacocha for
2016 is 600k &ndash; 650k ounces.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 4Q15, Yanacocha reported net loss of
US$547.4 million compared to a net loss of US$380.3 million reported in 4Q14 (Includes deferred income tax of US$510 million).
CAS in 4Q15 was US$747/oz, 75% higher than the US$426/oz reported in 4Q14 mainly due to: i) a higher inventory write-down (US$34.7
million in 4Q15 compared to US$11.1 million in 4Q14), and ii) lower volume sold (216,733 gold ounces in 4Q15 vs 327,278 gold ounces
in 4Q14).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capital expenditures at Yanacocha were
US$37.3 million in 4Q15, while for 2015 was US$96.2 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Yanacocha still has a strong pipeline of
growth projects: Quecher Main (prefeasibility), Chaquicocha Sulphides and Yanacocha Verde (scoping) and Maqui Maqui (exploration).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CERRO VERDE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At Cerro Verde (19.58% owned by Buenaventura),
during 4Q15 copper production was 95,619 MT (18,722 MT attributable to Buenaventura), a 71% increase compared to 4Q14 (56,001 MT
and 10,965 MT attributable to Buenaventura). For 2015, copper production was 246,973 MT (48,357 MT attributable to Buenaventura).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 4Q15, Cerro Verde reported a net
loss of US$13.2 million compared to net profit of US$55.9 million in 4Q14. This was mainly due to a higher depreciation (related
to the new concentrate plant) and a higher net loss from currency exchange difference, despite of the 71% increase in volume sold.
For 2015, net income was US$33.3 million (compared to US$377.6 million in 2014).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capital expenditures at Cerro Verde were
US$274.1 million in 4Q15, and US$1,595.6 million in 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.75pt 0pt 0; text-align: justify">Cerro Verde&rsquo;s plant expansion
was completed, in-line with schedule and budget (US$4.6 billion). It became the largest concentration facility (360K TPD) in the
world and full plant capacity is expected to be reached in 1Q16.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Copper production guidance at Cerro Verde
for 2016 is 550k MT &ndash; 600k MT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>COIMOLACHE (Tantahuatay operation)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At Coimolache (40.10% owned by Buenaventura),
attributable contribution to the net income in 4Q15 was US$6.5 million (US$5.0 million in 4Q14). For 2015, the contribution was
US$16.6 million, compared to US$22.3 million reported in 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 30%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(11,94,84)">
    <TD STYLE="font-size: 10pt; text-align: center; padding-top: 0; padding-bottom: 0; font-weight: bold; width: 100%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: White"><B>Project
    Development and Exploration</B></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The Tambomayo Project (100% ownership)</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 7.1pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 3.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Detail engineering
currently at 100% of development</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 7.1pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 3.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Civil works are
at 30% of progress (expected to be completed in 3Q16)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 7.1pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 3.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100% of mayor equipment
has been purchased (80% arrived to site)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 7.1pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 3.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">CAPEX: US$ 340
M (Total disbursement as of 4Q15 US$158.3 M)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 18pt">o</TD><TD STYLE="text-align: left; padding-right: 3.75pt">Exploration and mine development US$218 M (Disbursement as of 4Q15 S$64.4 M)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 18pt">o</TD><TD STYLE="text-align: left; padding-right: 3.75pt">Civil works and Equipment US$122 M (Disbursement as of 4Q15 S$93.9 M)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.75pt 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The San Gabriel Project (100% ownership)</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 7.1pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The project has been rescheduled in order
to preserve cash flow</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 7.1pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Feasibility studies were completed in
4Q15</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 7.1pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Environmental Impact Assessment (EIA)
of the project&acute;s construction is expected to be approved in 4Q16</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 7.1pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Objective for 1S16: </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 43.1pt"></TD><TD STYLE="width: 18pt">o</TD><TD STYLE="text-align: justify">Continue the construction of a 450 meters exploration ramp</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 43.1pt"></TD><TD STYLE="width: 18pt">o</TD><TD STYLE="text-align: justify">Drilling program: 7,000 meters in order to confirm resources and certainty</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 30%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="background-color: rgb(11,94,84)">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: white"><b>Buenaventura&acute;s Cash and Debt Situation
        </b></P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Currently BVN is in the process of
raising US$ 270 million long-term syndicate loan.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Proceeds from this new debt will
be used for the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">Reprofiling of BVN&acute;s current short term debt (US$ 232 million).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">Partially finance the construction of the Tambomayo Project.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Yanacocha will distribute a cash dividend
of US$ 300 million</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">BVN received US$ 131 million
on February 19, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Cerro Verde - loan of US$ 125 million
in 4Q15 </B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In 4Q15, Cerro Verde received
a loan of US$ 600 million from its shareholder in order to comply with the covenants of its syndicate loan ($1.8 billion).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>El Brocal - capital increase of US$
19 million in 1Q16 </B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">This capital increase was needed
in order to comply with the covenants of its loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 30%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="background-color: rgb(11,94,84)">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: white"><b>Recent events</b></P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At the Board of Directors&rsquo; meeting held February 25, 2016,
the following resolutions were passed:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To call for the Annual Shareholders&rsquo; Meeting to be held
on March 29, 2016, the following items will be proposed for approval:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">a. Approve the Annual Report as of December, 31, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">b. Approve the Financial Statements as of December, 31, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c. Appoint Ernst and Young (Paredes, Zalvidar, Burga y Asociados)
as External Auditors for fiscal year 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><I>* * *</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Company Description</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Compa&ntilde;&iacute;a de Minas Buenaventura
S.A.A. is Peru&rsquo;s largest, publicly traded, precious metals company and a major holder of mining rights in Peru. The Company
is engaged in the mining, processing, development and exploration of gold and silver and other metals via wholly owned mines as
well as through its participation in joint exploration projects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Buenaventura currently operates several
mines in Peru (Orcopampa*, Uchucchacua*, Mallay*, Julcani*, El Brocal, La Zanja and Coimolache and is developing the Tambomayo
and San Gabriel projects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company owns 43.65% of Minera Yanacocha
S.R.L (a partnership with Newmont Mining Corporation), an important precious metal producer; 19.58% of Sociedad Minera Cerro Verde,
an important Peruvian copper producer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For a printed version of the Company&rsquo;s
2014 Form 20-F, please contact the investor relations contacts on page 1 of this report, or download the PDF format file from the
Company&rsquo;s web site at www.buenaventura.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(*) Operations wholly owned by Buenaventura</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: justify; padding-top: 3pt"><B>Note on Forward-Looking
Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; padding: 0pt 3pt 3pt; text-align: justify; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid">This press release may contain forward-looking
information (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including
those concerning the Company&rsquo;s, Yanacocha&rsquo;s and Cerro Verde&rsquo;s costs and expenses, results of exploration, the
continued improving efficiency of operations, prevailing market prices of gold, silver, copper and other metals mined, the success
of joint ventures, estimates of future explorations, development and production, subsidiaries&rsquo; plans for capital expenditures,
estimates of reserves and Peruvian political, economic, social and legal developments. These forward-looking statements reflect
the Company&rsquo;s view with respect to the Company&rsquo;s, Yanacocha&rsquo;s and Cerro Verde&rsquo;s future financial performance.
Actual results could differ materially from those projected in the forward-looking statements as a result of a variety of factors
discussed elsewhere in this Press Release.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>**Tables to follow**</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>APPENDIX 1</B></P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="background-color: #174131">
    <td colspan="4" style="border: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><b>Equity Participation in</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><b>Subsidiaries and Associates
        (as of September 30, 2015)</b></P></td></tr>
<tr>
    <td style="width: 41%; border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="width: 12%; border-left: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BVN</b></font></td>
    <td style="width: 46%; border-right: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Operating</b></font></td>
    <td style="width: 1%">&nbsp;</td></tr>
<tr>
    <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity %</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Mines / Business</b></font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">El Molle Verde S.A.C*</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trapiche project</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minera La Zanja S.A*</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">53.06</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">La Zanja</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sociedad Minera El Brocal S.A.A*</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">56.29</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Colquijirca and Marcapunta </font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compa&ntilde;&iacute;a Minera Coimolache S.A **</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40.10</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tantahuatay </font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minera Yanacocha S.R.L **</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">43.65</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yanacocha</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sociedad Minera Cerro Verde S.A.A **</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">19.58</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cerro Verde</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: -3.7pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Processadora Industrial Rio Seco S.A*</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rio Seco chemical plant</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consorcio Energ&eacute;tico de Huancavelica S.A*</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Energy &ndash; Huanza Hydroelectrical plant</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Buenaventura Ingenieros S.A*</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Engineering Consultant</font></td>
    <td>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(*)Consolidates</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(**) Equity Accounting</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt; text-align: right"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #0F243E">Compa&ntilde;&iacute;a de Minas Buenaventura S.A.A.</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #0F243E">Fourth Quarter and Full Year 2015 Results</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #0F243E">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --> of 28</P><P STYLE="margin: 0pt; text-align: right"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; width: 20%; padding-left: 0"><B>APPENDIX 2</B></td>
    <TD STYLE="font-size: 12pt; font-weight: bold; width: 18%; padding-left: 2pt">&nbsp;</td>
    <td style="width: 10%">&nbsp;</td>
    <td style="width: 10%">&nbsp;</td>
    <td style="width: 10%">&nbsp;</td>
    <td style="width: 11%">&nbsp;</td>
    <td style="width: 11%">&nbsp;</td>
    <td style="width: 10%">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="font-size: 18pt; font-weight: bold; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="font-size: 18pt; font-weight: bold; padding-left: 2pt">&nbsp;</td>
    <td style="font-size: 18pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 18pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 18pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 18pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 18pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 18pt; font-weight: bold">&nbsp;</td></tr>
<tr>
    <TD STYLE="font-size: 12pt; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="font-size: 12pt; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; padding-left: 2pt">&nbsp;</td>
    <td colspan="6" style="color: white; font-size: 12pt; font-weight: bold; vertical-align: middle; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; background-color: #0C5B54">GOLD PRODUCTION</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 2pt">&nbsp;</td>
    <TD STYLE="padding-left: 2pt">&nbsp;</td>
    <td style="font-weight: bold; border-left: Black 1pt solid; text-align: center">4Q15</td>
    <td style="font-weight: bold; text-align: center">4Q14</td>
    <td style="font-weight: bold; border-right: Black 1pt solid; text-align: center">%</td>
    <td style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt">FY15</td>
    <td style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">FY14</td>
    <td style="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; border-top-color: Black; border-top-width: 1pt">%</td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <TD STYLE="color: white; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">Mining Unit</td>
    <TD STYLE="color: white; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">Operating Results</td>
    <td colspan="6" style="color: white; font-weight: bold; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center">Underground</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; padding-left: 2pt">Orcopampa</td>
    <TD STYLE="border-right: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ore Milled&nbsp;&nbsp;DMT</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-right: 0">120,878</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">115,862</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">4%</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">458,222</td>
    <TD STYLE="text-align: center; padding-right: 0">454,694</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">1%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ore Grade OZ/MT</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">0.42</td>
    <TD STYLE="text-align: center; padding-right: 0">0.48</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">-13%</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">0.46</td>
    <TD STYLE="text-align: center; padding-right: 0">0.46</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">1%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Recovery Rate %</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">93.9%</td>
    <TD STYLE="text-align: center; padding-right: 0">96.9%</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">-3%</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">95.3%</td>
    <TD STYLE="text-align: center; padding-right: 0">97.1%</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">-2%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ounces Produced*</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">48,606</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0">54,878</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">-11%</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">204,629</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0">202,227</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">1%</td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <TD STYLE="color: white; font-weight: bold; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; padding-left: 2pt">Mining Unit</td>
    <TD STYLE="color: white; font-weight: bold; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; padding-left: 2pt">Operating Results</td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; border-top: Black 1pt solid; border-right: black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-right: 0">Open Pit</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">La Zanja</td>
    <TD STYLE="border-top: Black 1pt solid; padding-left: 2pt">Ounces Produced</td>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-right: 0">37,709</td>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; padding-right: 0">34,959</td>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center; padding-right: 0">8%</td>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; padding-right: 0">141,071</td>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; padding-right: 0">143,724</td>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center; padding-right: 0">-2%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">Tantahuatay</td>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 2pt">Ounces Produced</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-right: 0">47,697</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0">38,558</td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">24%</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0">144,782</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0">143,643</td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">1%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="3">* Includes ounces from retreatment of taling dams</td>
    <td style="font-weight: bold; text-align: right">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="font-weight: bold; text-align: right">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="font-weight: bold; text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 2pt">&nbsp;</td>
    <TD STYLE="padding-left: 2pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="font-weight: bold; padding-left: 2pt">&nbsp;</td>
    <td style="font-weight: bold; text-align: center">&nbsp;</td>
    <td style="font-weight: bold; text-align: center">&nbsp;</td>
    <td style="font-weight: bold; text-align: center">&nbsp;</td>
    <td style="font-weight: bold; text-align: center">&nbsp;</td>
    <td style="font-weight: bold; text-align: center">&nbsp;</td>
    <td style="font-weight: bold; text-align: center">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; background-color: white; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; background-color: white; padding-left: 2pt">&nbsp;</td>
    <td colspan="6" style="color: white; font-size: 12pt; font-weight: bold; vertical-align: middle; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; background-color: #0C5B54">SILVER PRODUCTION</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 2pt">&nbsp;</td>
    <TD STYLE="padding-left: 2pt">&nbsp;</td>
    <td style="font-weight: bold; border-left: Black 1pt solid; text-align: center">4Q15</td>
    <td style="font-weight: bold; text-align: center">4Q14</td>
    <td style="font-weight: bold; border-right: Black 1pt solid; text-align: center">%</td>
    <td style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt">FY15</td>
    <td style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">FY14</td>
    <td style="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; border-top-color: Black; border-top-width: 1pt">%</td></tr>
<tr style="background-color: #0C5B54">
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">Mining Unit</td>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">Operating Results</td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center">Underground</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; padding-left: 2pt">Uchucchacua</td>
    <TD STYLE="border-right: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ore Milled&nbsp;&nbsp;DMT</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-right: 0">318,219</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">287,970</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">11%</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-right: 0">1,121,474</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">1,013,633</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">11%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ore Grade OZ/MT</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">15.38</td>
    <TD STYLE="text-align: center; padding-right: 0">13.83</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">11%</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">14.80</td>
    <TD STYLE="text-align: center; padding-right: 0">14.56</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">2%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Recovery Rate %</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">84.2%</td>
    <TD STYLE="text-align: center; padding-right: 0">85.2%</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">-1%</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">83.9%</td>
    <TD STYLE="text-align: center; padding-right: 0">81.7%</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">3%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ounces Produced</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">4,118,509</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0">3,395,628</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">21%</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">13,919,922</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0">12,055,570</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">15%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; padding-left: 2pt">Julcani</td>
    <TD STYLE="border-right: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ore Milled&nbsp;&nbsp;DMT</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-right: 0">45,024</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">43,292</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">4%</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-right: 0">177,948</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">167,760</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">6%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ore Grade OZ/MT</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">20.06</td>
    <TD STYLE="text-align: center; padding-right: 0">19.02</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">5%</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">19.22</td>
    <TD STYLE="text-align: center; padding-right: 0">19.32</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">-1%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Recovery Rate %</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">96.2%</td>
    <TD STYLE="text-align: center; padding-right: 0">95.0%</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">1%</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">95.5%</td>
    <TD STYLE="text-align: center; padding-right: 0">95.2%</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">0%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ounces Produced</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">868,662</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0">782,652</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">11%</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">3,266,453</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0">3,084,347</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">6%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; padding-left: 2pt">Mallay</td>
    <TD STYLE="border-right: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ore Milled&nbsp;&nbsp;DMT</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-right: 0">42,812</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">38,290</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">12%</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-right: 0">158,124</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">148,058</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">7%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ore Grade OZ/MT</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">8.93</td>
    <TD STYLE="text-align: center; padding-right: 0">8.64</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">3%</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">8.66</td>
    <TD STYLE="text-align: center; padding-right: 0">8.77</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">-1%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Recovery Rate %</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">93.4%</td>
    <TD STYLE="text-align: center; padding-right: 0">93.5%</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">0%</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">93.8%</td>
    <TD STYLE="text-align: center; padding-right: 0">93.7%</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">0%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ounces Produced</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">357,236</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0">309,213</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">16%</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">1,285,361</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0">1,216,034</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">6%</td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <TD STYLE="color: white; font-weight: bold; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; padding-left: 2pt">Mining Unit</td>
    <TD STYLE="color: white; font-weight: bold; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; padding-left: 2pt">Operating Results</td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; border-right: black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-right: 0">Open Pit</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border: Black 1pt solid; padding-left: 2pt">Colquijirca</td>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ounces Produced</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">1,030,199</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">490,896</td>
    <TD STYLE="font-weight: bold; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">110%</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">2,811,391</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">603,342</td>
    <TD STYLE="font-weight: bold; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">366%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 2pt">&nbsp;</td>
    <TD STYLE="padding-left: 2pt">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="font-weight: bold; text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="font-weight: bold; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 2pt">&nbsp;</td>
    <TD STYLE="padding-left: 2pt">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="font-weight: bold; text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="font-weight: bold; text-align: center">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; background-color: white; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; background-color: white; padding-left: 2pt">&nbsp;</td>
    <td colspan="6" style="color: white; font-size: 12pt; font-weight: bold; vertical-align: middle; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; background-color: #0C5B54">ZINC PRODUCTION</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 2pt">&nbsp;</td>
    <TD STYLE="padding-left: 2pt">&nbsp;</td>
    <td style="font-weight: bold; border-left: Black 1pt solid; text-align: center">4Q15</td>
    <td style="font-weight: bold; text-align: center">4Q14</td>
    <td style="font-weight: bold; border-right: Black 1pt solid; text-align: center">%</td>
    <td style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt">FY15</td>
    <td style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">FY14</td>
    <td style="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; border-top-color: Black; border-top-width: 1pt">%</td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <TD STYLE="color: white; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">Mining Unit</td>
    <TD STYLE="color: white; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">Operating Results</td>
    <td colspan="6" style="color: white; font-weight: bold; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center">Underground</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; padding-left: 2pt">Uchucchacua</td>
    <TD STYLE="border-right: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ore Milled&nbsp;&nbsp;DMT</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-right: 0">318,219</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">287,970</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">11%</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-right: 0">1,121,474</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">1,013,633</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">11%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ore Grade %</td>
    <TD STYLE="text-align: center; padding-right: 0">1.04%</td>
    <TD STYLE="text-align: center; padding-right: 0">0.90%</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">16%</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">1.05%</td>
    <TD STYLE="text-align: center; padding-right: 0">1.04%</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">1%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Recovery Rate %</td>
    <TD STYLE="text-align: center; padding-right: 0">48.02%</td>
    <TD STYLE="text-align: center; padding-right: 0">57.9%</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">-17%</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">48.2%</td>
    <TD STYLE="text-align: center; padding-right: 0">60.2%</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">-20%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">MT Produced</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">1,602</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0">1,504</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">6%</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">5,693</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0">6,349</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">-10%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; padding-left: 2pt">Mallay</td>
    <TD STYLE="border-right: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ore Milled&nbsp;&nbsp;DMT</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-right: 0">42,812</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">38,290</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">12%</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; border-left-color: Black; border-left-width: 1pt; padding-right: 0">158,124</td>
    <TD STYLE="text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">148,058</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; border-top-color: Black; border-top-width: 1pt; padding-right: 0">7%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Ore Grade %</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">6.5%</td>
    <TD STYLE="text-align: center; padding-right: 0">7.1%</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">-8%</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">6.60%</td>
    <TD STYLE="text-align: center; padding-right: 0">7.79%</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">-15%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">Recovery Rate %</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">86.3%</td>
    <TD STYLE="text-align: center; padding-right: 0">86.3%</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">0%</td>
    <TD STYLE="text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">87.9%</td>
    <TD STYLE="text-align: center; padding-right: 0">85.8%</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; text-align: center; padding-right: 0">2%</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">MT Produced</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">2,407</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0">2,333</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">3%</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">9,172</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0">9,893</td>
    <TD STYLE="font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">-7%</td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <TD STYLE="color: white; font-weight: bold; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; padding-left: 2pt">Mining Unit</td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 1pt; padding-left: 2pt">Operating Results</td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; border-right: black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">Open Pit</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border: Black 1pt solid; padding-left: 2pt">Colquijirca</td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left-color: Black; border-left-width: 1pt; padding-left: 2pt">MT Produced</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">15,966</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">8,640</td>
    <TD STYLE="font-weight: bold; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">85%</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; padding-right: 0">53,319</td>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">10,162</td>
    <TD STYLE="font-weight: bold; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-right: 0">425%</td></tr>
</table>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">APPENDIX 3: EBITDA Reconciliation (in thousand US$)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="background-color: white; width: 48%">&nbsp;</td>
    <td style="color: white; font-weight: bold; border-top: Black 1pt solid; border-left: Black 1pt solid; text-align: center; background-color: #0C5B54; width: 13%">4Q15</td>
    <td style="color: white; font-weight: bold; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 13%">4Q14</td>
    <td style="color: white; font-weight: bold; border-top: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 1pt; background-color: #0C5B54; width: 13%">FY 2015</td>
    <td style="color: white; font-weight: bold; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 13%">FY 2014</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid">Net Income</td>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">-315,297</td>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">-164,441</td>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">-375,545</td>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">-61,640</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 0.5pt">Add / Substract:</td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">331,262</td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">199,706</td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">480,734</td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">335,692</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">Provision for income tax, net</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">16,544</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">23,928</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">12,613</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">66,012</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">Share in associated companies by the equity method, net</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">234,996</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">113,842</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">173,375</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">74,600</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">Interest income</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">-8,585</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">-4,209</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">-11,026</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">-8,408</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">Interest expense</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">6,519</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">4,313</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">27,622</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">11,318</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">Loss on currency exchange difference</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">6,158</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">3,381</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">13,683</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">8,452</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt; background-color: white">Long Term Compensation provision</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">330</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">-1,842</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">330</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white; padding-right: 0">89</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt; background-color: white">Depreciation and Amortization</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white; padding-right: 0">63,279</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white; padding-right: 0">57,684</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">242,464</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white; padding-right: 0">208,698</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt; background-color: white">Workers&acute; participation provision</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">266</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white; padding-right: 0">-20</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">895</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white; padding-right: 0">3,669</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 1pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">Adquiscion gain generated by subsidiary</td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">0</td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">27</td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">0</td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">-59,852</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 27px; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 1pt solid; text-align: left">Loss from discontinued operations</td>
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">4,583</td>
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">4,830</td>
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">9,523</td>
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">31,114</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 27px; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left">Impairment of Long-Lived Assets</td>
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">7,172</td>
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">-2,228</td>
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">11,255</td>
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">0</td></tr>
<tr style="vertical-align: bottom; background-color: #0C5B54">
    <td style="padding-left: 9px; color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left">EBITDA Buenaventura Direct Operations</td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">15,965</td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">35,265</td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">105,189</td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">274,052</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; text-align: left">EBITDA Yanacocha (43.65%)</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">241,008</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">105,971</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">386,882</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">205,695</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">EBITDA Cerro Verde (19.58%)</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">23,497</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">27,931</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">68,261</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">143,299</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">EBITDA Coimolache (40.01%)</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">14,755</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">12,335</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">40,360</td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 0">48,941</td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="color: white; font-weight: bold; border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left">Adjusted EBITDA (including Associated companies)</td>
    <TD STYLE="color: white; font-weight: bold; border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">295,226</td>
    <TD STYLE="color: white; font-weight: bold; border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">181,503</td>
    <TD STYLE="color: white; font-weight: bold; border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">600,692</td>
    <TD STYLE="color: white; font-weight: bold; border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-bottom: Black 1pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; padding-right: 0">671,987</td></tr>
</table>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Note:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">EBITDA (Buenaventura Direct Operations)
consists of earnings before net interest, taxes, depreciation and amortization, share in associated companies, net, loss on currency
exchange difference, other, net, provision for workers&rsquo; profit sharing and provision for long-term officers&rsquo; compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">EBITDA (including associated companies)
consists of EBITDA (Buenaventura Direct Operations), plus (1) Buenaventura&rsquo;s equity share of EBITDA (Yanacocha) (2) Buenaventura&rsquo;s
equity share of EBITDA (Cerro Verde), plus (3) Buenaventura&rsquo;s equity share of EBITDA (Coimolache). All EBITDA mentioned were
similarly calculated using financial information provided to Buenaventura by the associated companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Buenaventura presents EBITDA (Buenaventura
Direct Operations) and EBITDA (including affiliates) to provide further information with respect to its operating performance and
the operating performance of its equity investees, the affiliates. EBITDA (Buenaventura Direct Operations) and EBITDA (including
affiliates) are not a measure of financial performance under IFRS, and may not be comparable to similarly titled measures of other
companies. You should not consider EBITDA (Buenaventura Direct Operations) and EBITDA (including affiliates) as alternatives to
operating income or net income determined in accordance with IFRS, as an indicator of Buenaventura&rsquo;s, affiliates operating
performance, or as an alternative to cash flows from operating activities, determined in accordance with IFRS, as an indicator
of cash flows or as a measure of liquidity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>APPENDIX 4: PROVEN AND PROBABLE RESERVES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold">GOLD</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">% Ownership</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">MT (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Grade Oz/TMS</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Oz (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Attributable (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 30%; font-size: 10pt">Orcopampa</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">100.00</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">648</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">0.475</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">308</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">308</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">Julcani</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">289</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.016</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Mallay</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">86</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.016</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">Tambomayo</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,081</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.303</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">328</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">328</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Antapite</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">38</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.335</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">13</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">13</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">Breapampa</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">520</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.014</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">La Zanja</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">53.06</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">11,905</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.020</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">236</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">125</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">La Zanja (on Pads and Plant)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">53.06</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Tantahuatay (Oxides)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">40.10</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">66,197</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.014</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">920</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">369</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Tantahuatay&nbsp;&nbsp;&nbsp;PAD</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">40.10</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">11</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">El Brocal Marcapunta (Sulphides)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">56.29</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">21,750</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.013</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">273</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">154</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">Yanacocha</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">43.65</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5,057</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,207</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold">Total</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">102,514</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.070</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7,167</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3,526</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold">SILVER</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">% Ownership</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">MT (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Grade Oz/TMS</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Oz (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Attributable (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 30%; font-size: 10pt; text-align: left">Uchucchacua (Silver - Sulphides)</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">100.00</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">3,947</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">15.000</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">59,208</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">59,208</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Uchucchacua (Zinc - Sulphides)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">324</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5.850</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,896</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,896</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Julcani</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">289</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">20.840</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6,018</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6,018</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">Breapampa</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">520</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.550</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">287</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">287</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Mallay</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">86</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">10.970</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">948</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">948</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">Orcopampa</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">648</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1.650</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,072</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,072</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Tambomayo</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,081</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">9.260</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">10,007</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">10,007</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">La Zanja</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">53.06</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">11,905</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.130</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,574</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">835</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">La Zanja (on Pads and Plant)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">53.06</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">825</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">438</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Tantahuatay Oxidos</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">40.10</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">66,197</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.230</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">15,087</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6,049</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Tantahuatay&nbsp;&nbsp;PAD</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">40.10</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">67</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">27</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">El Brocal (Tajo Norte - La Llave)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">54.07</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">39,698</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.880</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">34,934</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">18,889</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">El Brocal Marcapunta (Sulphides)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">54.07</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">21,750</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.610</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">13,267</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7,174</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">Yanacocha</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">43.65</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">60,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">26,190</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Cerro Verde (Sulphides)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">19.58</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3,953,233</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.048</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">187,822</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">36,776</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Cerro Verde (Oxides)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">19.58</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">610,019</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.010</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6,047</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,184</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Total</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,709,697</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.085</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">399,060</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">176,997</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold">ZINC</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">% Ownership</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">MT (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">% Zn</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">MT (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Attributable (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 30%; font-size: 10pt; text-align: left">Uchucchacua (Plata - Sulphides)</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">100.00</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">3,947</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">1.43</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">57</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">57</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Uchucchacua (Zinc - Sulphides)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">324</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6.24</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">20</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">20</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Mallay</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">86</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8.93</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">Tambomayo</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,081</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3.01</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">33</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">33</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">El Brocal (Tajo Norte - La Llave)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">54.07</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">39,698</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.52</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">541</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Total</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">45,136</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.48</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,117</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">658</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold">LEAD</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">% Ownership</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">MT (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">% Pb</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">MT (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Attributable (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 30%; font-size: 10pt; text-align: left">Uchucchacua (Silver - Sulphides)</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">100.00</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">3,647</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">1.08</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">43</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">43</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Uchucchacua (Zinc - Sulphides)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">324</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3.78</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">12</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">12</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">Julcani</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">289</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.52</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Mallay</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">86</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6.35</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">Tambomayo</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,081</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">22</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">22</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">El Brocal (Tajo Norte - La Llave)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">54.07</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">39,698</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.86</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">341</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">185</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Total</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">45,125</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.95</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">431</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">274</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 13; Value: 2 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt; text-align: right"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #0F243E">Compa&ntilde;&iacute;a de Minas Buenaventura S.A.A.</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #0F243E">Fourth Quarter and Full Year 2015 Results</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #0F243E">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --> of 28</P><P STYLE="margin: 0pt; text-align: right"></P></DIV>
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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold">COPPER</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">% Ownership</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">MT (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">% Cu</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">MT (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Attributable (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 30%; font-size: 10pt">Julcani</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">100.00</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">310</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">0.55</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">2</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">2</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">El Brocal Marcapunta (Sulphides)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">54.07</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">21,750</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.25</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">489</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">265</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Cerro Verde (Sulphides)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">19.58</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3,953,233</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.37</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">14,813</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,900</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Cerro Verde (Oxides)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">19.58</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">610,019</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.48</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,928</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">573</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Total</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,585,312</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.40</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">18,232</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3,740</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold">MOLYBDENUM</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">% Ownership</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">MT (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">% Mo</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Oz (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Attributable (000)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 30%; font-size: 10pt; text-align: left">Cerro Verde (Sulphides)</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">19.58</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">3,953,233</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">0.014</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">553</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">108</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Cerro Verde (Oxides)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">19.58</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">610,019</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.003</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">18</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Total</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,563,252</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.013</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">572</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">112</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Prices used for Reserves calculation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif"><B>Gold</B><FONT STYLE="font-weight: normal"> 1,250 US$/Oz - </FONT><B>Silver</B><FONT STYLE="font-weight: normal"> 19 US$/Oz -</FONT><B> Zinc</B><FONT STYLE="font-weight: normal"> 2,000 US$/MT - </FONT><B>Lead</B><FONT STYLE="font-weight: normal"> 2,000 US$/MT - </FONT><B>Copper</B><FONT STYLE="font-weight: normal"> 5,500 US$/MT</FONT></FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>APPENDIX 5: COST APPLICABLE TO SALES RECONCILIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Reconciliation of Costs Applicable to
Sales and Cost Applicable to Sales per Unit Sold</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost applicable to sales consists of cost
of sales, excluding depreciation and amortization, plus Selling expenses. Cost applicable to sales per unit sold for each mine
consists of cost applicable to sales for a particular metal produced at a given mine divided by the volume of such metal produced
at such mine in the specified period. We note that cost applicable to sales is not directly comparable to the cash operating cost
figures disclosed in previously furnished earnings releases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost applicable to sales and Cost applicable
to sales per unit of mineral sold are not measures of financial performance under IFRS, and may not be comparable to similarly
titled measures of other companies. We consider Cost applicable to sales and Cost applicable to sales per unit of mineral sold
to be key measures in managing and evaluating our operating performance. These measures are widely reported in the precious metals
industry as a benchmark for performance, but do not have standardized meanings. You should not consider Cost applicable to sales
or Cost applicable to sales per unit of mineral sold as alternatives to cost of sales determined in accordance with IFRS, as indicators
of our operating performance. Cost applicable to sales and Cost applicable to sales per unit of mineral sold are calculated without
adjusting for by-product revenue amounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The tables below set forth (i) a reconciliation
of consolidated Cost of sales, excluding depreciation and amortization to consolidated Cost applicable to sales, (ii) reconciliations
of the components of Cost applicable to sales (by mine and mineral) to the corresponding consolidated line items set forth on our
consolidated statements of profit or loss for the three and six months ended June 30, 2014 and 2015, and (iii) reconciliations
of Cost of sales, excluding depreciation and amortization to Cost applicable to sales for each of our mining units.&nbsp; The amounts
set forth in Cost applicable to sales and Cost applicable to sales per unit sold for each mine and mineral indicated in the tables
below can be reconciled to the amounts set forth on our consolidated statements of profit or loss for the three and six months
ended June 30, 2014 and 2015 by reference to the reconciliations of Cost of sales, excluding depreciation and amortization (by
mine and mineral), Selling Expenses (by mine and metal) expenses and Exploration in units in operations (by mine and mineral) to
consolidated Cost of sales, excluding depreciation and amortization, consolidated Selling Expenses and consolidated Exploration
in units in operations expenses, respectively, set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="13">Set forth below is a reconciliation of consolidated Cost of sales, excluding depreciation and amortization, to consolidated Cost applicable to sales:</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 41%">&nbsp;</td>
    <TD STYLE="width: 3%">&nbsp;</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 11%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 11%">&nbsp;</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 11%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 11%">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <td colspan="5" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">For the 3 months ended Dec 31</td>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <td colspan="5" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">For the 12 months ended Dec 31</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2015</td>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2014</td>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2015</td>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2014</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="11" style="font-weight: bold; text-align: center">(in thousands of US$)</td></tr>
<tr style="background-color: white">
    <td colspan="2" style="vertical-align: bottom; text-align: left">Consolidated Cost of sales excluding depreciation and amortization</td>
    <TD COLSPAN="2" STYLE="vertical-align: middle; text-align: center">156,848</td>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="vertical-align: middle; text-align: center">166,971</td>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="vertical-align: middle; text-align: center">590,405</td>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="vertical-align: middle; text-align: center">614,539</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold">Add:</td>
    <TD STYLE="font-weight: bold">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Consolidated Exploration in units in operation</td>
    <TD STYLE="padding-left: 27px; text-align: left">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">25,429</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">21,273</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">91,520</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">97,853</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Consolidated Commercial deductions</td>
    <TD STYLE="padding-left: 27px; text-align: left">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">60,998</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">54,862</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">196,211</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">184,483</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Consolidated Selling expenses</td>
    <TD STYLE="padding-left: 27px; text-align: left">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">6,666</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3,684</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">19,481</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">16,605</td></tr>
<tr style="vertical-align: middle; background-color: white">
    <TD STYLE="font-weight: bold">Consolidated Cost applicable to sales</td>
    <TD STYLE="font-weight: bold">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">249,941</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">246,790</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">897,618</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">913,480</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="13">Set forth below is a reconciliation of Cost of sales, excluding depreciation and amortization (by mine and mineral) to consolidated Cost of sales:</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <td colspan="5" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">For the 3 months ended Dec 31</td>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <td colspan="5" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">For the 12 months ended Dec 31</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2015</td>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2014</td>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2015</td>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2014</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold; text-decoration: underline">Cost of sales by mine and mineral</td>
    <TD>&nbsp;</td>
    <td colspan="11" style="font-weight: bold; text-align: center">(in thousands of US$)</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Julcani, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">9</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">8</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">49</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Julcani, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">6,741</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">4,602</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">23,135</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">23,117</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Julcani, Lead&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">485</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">377</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,906</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,891</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Julcani, Copper&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">53</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">46</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">242</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">190</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Mallay, Gold</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">148</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">201</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Mallay, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,233</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,894</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">8,014</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">8,135</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Mallay, Lead&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,342</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,539</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">5,190</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">5,959</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Mallay, Zinc&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,316</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,988</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">6,256</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">7,497</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Breapampa, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">4</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">8,158</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">9,780</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">35,389</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Breapampa, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">48</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">734</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,681</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,459</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Orcopampa, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">26,471</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">26,153</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">104,603</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">107,550</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Orcopampa, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">897</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">714</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3,525</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3,070</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Uchucchacua, Gold</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">7</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">25</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Uchucchacua, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">31,879</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">32,068</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">110,724</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">132,110</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Uchucchacua, Lead&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,745</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,141</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">6,377</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">8,115</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Uchucchacua, Zinc&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,056</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,513</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">4,841</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">5,618</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">La Zanja, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">31,095</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">22,804</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">110,848</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">79,713</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">La Zanja, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">737</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">939</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3,367</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3,426</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,759</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">986</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">4,258</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3,491</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">7,066</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3,904</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">21,024</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">12,331</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Lead&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">5,641</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,178</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">15,244</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,051</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Zinc&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">10,475</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">5,701</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">42,157</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">6,478</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Copper&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">22,449</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">25,538</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">68,711</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">96,934</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Non Mining Units&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid; text-align: center">3,193</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid; text-align: center">23,984</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid; text-align: center">38,246</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid; text-align: center">69,011</td></tr>
<tr style="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: bottom">Consolidated Cost of sales, excluding depreciation and amortization&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">156,848</td>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">166,971</td>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">590,405</td>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">614,539</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="13" style="text-align: left">Set forth below is a reconciliation of Exploration expenses in units in operation (by mine and mineral) to consolidated Exploration expenses in mining units:</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <td colspan="5" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">For the 3 months ended Dec 31</td>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <td colspan="5" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">For the 12 months ended Dec 31</td></tr>
<tr>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; background-color: white; text-align: center"><u></u></td>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2015</td>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2014</td>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2015</td>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2014</td></tr>
<tr style="background-color: white">
    <td colspan="2" style="font-weight: bold; text-decoration: underline; vertical-align: bottom; text-align: left">Exploration expenses in units in operation by mine and mineral</td>
    <td colspan="11" style="font-weight: bold; vertical-align: middle; text-align: center">(in thousands of US$)</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Julcani, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">4</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">4</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">25</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Julcani, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,641</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,253</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">11,598</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">10,072</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Julcani, Lead&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">190</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">184</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">956</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">824</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Julcani, Copper&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">21</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">23</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">121</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">83</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Mallay, Gold</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">60</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">77</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Mallay, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">902</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">791</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3,073</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,942</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Mallay, Lead&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">542</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">643</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,990</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,155</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Mallay, Zinc&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">532</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">831</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,399</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,711</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Breapampa, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">125</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">65</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,554</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">463</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Breapampa, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,613</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">6</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">267</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">32</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Orcopampa, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">9,643</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">9,937</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">40,307</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">50,378</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Orcopampa, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">327</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">271</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,358</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,438</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Uchucchacua, Gold</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">6</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Uchucchacua, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">8,138</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">5,613</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">25,222</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">24,125</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Uchucchacua, Lead&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">445</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">375</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,453</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,482</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Uchucchacua, Zinc&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">270</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">265</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,103</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,026</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">La Zanja, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">-24</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">13</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">11</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">115</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">La Zanja, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">-1</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">5</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Lead&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Zinc&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Copper&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Non Mining Units&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid; text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid; text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid; text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid; text-align: center">0</td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td colspan="2" style="font-weight: bold; text-align: left">Consolidated Exploration expenses in units in operation</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">25,429</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">21,273</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">91,520</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">97,853</td></tr>
</TABLE>

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<P STYLE="margin: 0"></P>

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<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="13">Set forth below is a reconciliation of Commercial Deductions in units in operation (by mine and mineral) to consolidated Commercial deductions:</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 41%">&nbsp;</td>
    <TD STYLE="width: 3%">&nbsp;</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 11%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 11%">&nbsp;</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 11%">&nbsp;</td>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 11%">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <td colspan="5" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">For the 3 months ended Dec 31</td>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <td colspan="5" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">For the 12 months ended Dec 31</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2015</td>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2014</td>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2015</td>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2014</td></tr>
<tr style="background-color: white">
    <td colspan="2" style="font-weight: bold; text-decoration: underline; vertical-align: bottom; text-align: left">Commercial Deductions in units in operation by mine and mineral</td>
    <td colspan="11" style="font-weight: bold; vertical-align: middle; text-align: center">(in thousands of US$)</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Julcani, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">14</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Julcani, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,007</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,295</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">7,258</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">6,148</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Julcani, Lead&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">144</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">106</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">591</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">502</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Julcani, Copper&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">17</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">12</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">81</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">53</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Mallay, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">60</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">89</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Mallay, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,216</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">832</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">4,098</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3,687</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Mallay, Lead&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">735</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">654</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,655</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,620</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Mallay, Zinc&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,158</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,295</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">4,313</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">5,153</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Breapampa, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">23</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">62</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">99</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Breapampa, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">5</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Orcopampa, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">55</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">87</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">255</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">288</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Orcopampa, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Uchucchacua, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">7</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Uchucchacua, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">12,517</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">9,530</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">37,753</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">35,786</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Uchucchacua, Lead&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">675</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">632</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,161</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,248</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Uchucchacua, Zinc&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,499</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,012</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">5,457</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3,850</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">La Zanja, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">53</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">38</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">194</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">240</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">La Zanja, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">6</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">18</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">4</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,925</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,203</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">4,847</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3,777</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3,992</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3,587</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">13,583</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">12,345</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Lead&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,269</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">642</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">6,669</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,317</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Zinc&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">6,903</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3,320</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">24,622</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">4,105</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Copper&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">25,762</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">30,590</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">81,479</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">102,258</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Non Mining Units&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid; text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid; text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid; text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid; text-align: center">0</td></tr>
<tr style="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: bottom">Consolidated Commercial deductions in units in operation</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">60,998</td>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">54,862</td>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">196,211</td>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">184,483</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="10">Set forth below is a reconciliation of Selling expenses (by mine and mineral) to consolidated Selling expenses:</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <td colspan="5" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">For the 3 months ended Dec 31</td>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <td colspan="5" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">For the 12 months ended Dec 31</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2015</td>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2014</td>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2015</td>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54">2014</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold; text-decoration: underline">Selling expenses by mine and mineral</td>
    <TD>&nbsp;</td>
    <td colspan="11" style="font-weight: bold; text-align: center">(in thousands of US$)</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Julcani, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Julcani, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">181</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">265</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">963</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">979</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Julcani, Lead&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">13</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">22</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">79</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">80</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Julcani, Copper&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">10</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">8</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Mallay, Gold</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">11</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">15</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Mallay, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">162</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">141</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">580</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">661</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Mallay, Lead&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">98</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">115</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">376</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">484</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Mallay, Zinc&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">96</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">148</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">453</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">609</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Breapampa, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">62</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">99</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">367</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Breapampa, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">6</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">17</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">26</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Orcopampa, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">190</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">223</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">823</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">929</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Orcopampa, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">6</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">6</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">28</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">27</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Uchucchacua, Gold</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">0</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Uchucchacua, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,063</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">868</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3,228</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">3,099</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Uchucchacua, Lead&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">58</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">58</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">186</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">190</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Uchucchacua, Zinc&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">35</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">41</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">141</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">132</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">La Zanja, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">248</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">401</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,172</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,382</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">La Zanja, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">6</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">17</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">36</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">59</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Gold&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">134</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">28</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">255</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">204</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Silver&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">539</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">113</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,258</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">722</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Lead&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">431</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">34</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">912</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">120</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Zinc&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">799</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">165</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">2,522</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">379</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">El Brocal, Copper&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">1,713</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">737</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">4,110</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: center">5,677</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27px; text-align: left">Non Mining Units&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid; text-align: center">879</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid; text-align: center">232</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid; text-align: center">2,217</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid; text-align: center">470</td></tr>
<tr style="vertical-align: middle; background-color: white">
    <TD STYLE="font-weight: bold">Consolidated Selling expenses</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">6,666</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">3,684</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">19,481</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center">16,605</td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; color: red; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">JULCANI</FONT></td></tr>
<tr>
    <TD STYLE="padding-left: 27px; color: red; vertical-align: bottom; text-align: center; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2015</FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; color: red; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">9</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">6,741</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">485</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">53</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">7,288</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">8</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">4,602</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">377</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">46</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">5,032</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">4</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2,641</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">190</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">21</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">2,855</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">4</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2,253</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">184</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">23</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">2,463</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">3</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2,007</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">144</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">17</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">2,171</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">2</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1,295</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">106</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">12</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">1,416</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">0</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">181</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">13</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">195</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">0</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">265</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">22</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">3</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">290</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">16</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">11,570</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">832</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">92</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">12,510</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">14</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">8,414</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">689</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">84</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">9,202</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">18</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,022,162</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">674</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">26</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; padding-right: 0"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">15</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">602,165</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">398</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">15</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">870</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">11.32</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,233</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">3,544</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; padding-right: 0"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">962</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">13.97</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,731</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">5,603</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; color: red; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">JULCANI</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; color: red; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2015</FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; color: red; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">49</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">23,135</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,906</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">242</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">25,333</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">3</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">23,117</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,891</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">190</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">25,202</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">25</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">11,598</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">956</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">121</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">12,699</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">2</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">10,072</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">824</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">83</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">10,981</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">14</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">7,258</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">591</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">81</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">7,944</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">2</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">6,148</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">502</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">53</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">6,706</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">2</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">963</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">79</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">10</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">1,055</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">0</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">979</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">80</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">8</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">1,067</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">90</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">42,954</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">3,533</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">454</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">47,031</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">7</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">40,316</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">3,297</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">335</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">43,956</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">94</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">3,493,166</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">2,478</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">103</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; padding-right: 0"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">12</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">2,851,318</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">2,057</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">64</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">No
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">955</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">12.30</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,425</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">4,416</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; padding-right: 0"><FONT STYLE="font-size: 7pt">No
    Applicable</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">603</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">14.14</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,603</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">5,195</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">No
    Applicable</FONT></td></tr>
</table>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">MALLAY</FONT></td></tr>
<tr>
    <TD STYLE="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2015</FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">148</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">2,233</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,342</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,316</FONT></td>
    <td style="text-align: center; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">5,039</FONT></td>
    <td style="text-align: center; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,894</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,539</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,988</FONT></td>
    <td style="text-align: center; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">5,421</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">60</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">902</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">542</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">532</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">2,035</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">791</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">643</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">831</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">2,265</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">60</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">1,216</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">735</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">1,158</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">3,168</FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">832</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">654</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">1,295</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">2,781</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">11</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">162</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">98</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">96</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">367</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">141</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">115</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">148</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">404</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">278</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">4,512</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">2,716</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">3,101</FONT></td>
    <td style="font-weight: bold; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">10,608</FONT></td>
    <td style="font-weight: bold; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">3,659</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">2,950</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">4,263</FONT></td>
    <td style="font-weight: bold; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">10,872</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">292</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">327,697</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,765</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,981</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">285,846</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,797</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,992</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">954</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">13.77</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,539</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,566</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">12.80</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,642</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">2,139</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">MALLAY</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2015</FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">201</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">8,014</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">5,190</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">6,256</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">19,661</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">8,135</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">5,959</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">7,497</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">21,591</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">77</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">3,073</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1,990</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2,399</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">7,539</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2,942</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2,155</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2,711</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">7,807</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">89</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">4,098</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2,655</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">4,313</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">11,155</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">3,687</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2,620</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">5,153</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">11,460</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">15</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">580</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">376</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">453</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">1,424</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">661</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">484</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">609</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">1,754</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">381</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">15,766</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">10,211</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">13,421</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">39,778</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">15,425</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">11,217</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">15,970</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">42,613</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">396</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,134,528</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">6,612</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">7,482</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,121,202</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">7,253</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">8,609</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">960</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">13.90</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,544</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,794</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">No
    Applicable</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">13.76</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,547</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,855</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">No
    Applicable</FONT></td></tr>
</table>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">BREAPAMPA</FONT></td></tr>
<tr>
    <TD STYLE="padding-left: 27px; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2015</FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">4</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">48</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">52</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">8,158</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">734</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">8,892</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">125</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1,613</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">1,738</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">65</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">6</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">71</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">0</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">0</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">23</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">23</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">0</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">2</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">62</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">6</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">67</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">129</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">1,663</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">1,792</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">8,307</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">746</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">9,052</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-0</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">4,381</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">14,456</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">98,441</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">379.64</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">575</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">7.57</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">BREAPAMPA</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2015</FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">9,780</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,681</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">11,462</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">35,389</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">2,459</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">37,848</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,554</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">267</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">1,821</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">463</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">32</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">495</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">62</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">5</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">66</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">99</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">99</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">99</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">17</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">116</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">367</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">26</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">393</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">11,495</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">1,970</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">13,466</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">36,318</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">2,517</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">38,835</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">16,069</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">212,826</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">80,358</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">383,733</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">715</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">9.26</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">No
    Applicable</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">452</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">6.56</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">No
    Applicable</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">ORCOPAMPA</FONT></td></tr>
<tr>
    <TD STYLE="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2015</FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">26,471</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">897</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">27,368</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">26,153</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">714</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">26,868</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">9,643</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">327</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">9,970</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">9,937</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">271</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">10,208</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">55</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">55</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">87</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">88</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">190</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">6</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">196</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">223</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">6</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">229</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">36,358</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">1,230</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">37,588</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">36,400</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">993</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">37,392</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">52,488</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">139,557</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">52,195</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">108,290</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">693</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">8.82</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">697</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">9.17</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">ORCOPAMPA</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2015</FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">104,603</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">3,525</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">108,128</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">107,550</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">3,070</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">110,620</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">40,307</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1,358</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">41,666</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">50,378</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1,438</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">51,816</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">255</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">0</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">255</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">288</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">289</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">823</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">28</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">851</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">929</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">27</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">955</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">145,988</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">4,912</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">150,900</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">159,144</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">4,536</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">163,680</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">214,821</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">555,314</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">204,862</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">401,782</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">680</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">8.85</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">No
    Applicable</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">777</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">11.29</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">No
    Applicable</FONT></td></tr>
</table>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">UCHUCCHACUA</FONT></td></tr>
<tr>
    <TD STYLE="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2015</FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">7</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">31,879</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,745</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,056</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">34,687</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">32,068</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">2,141</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,513</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">35,723</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">8,138.49</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">445.38</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">269.57</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">8,855.2</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">5,613</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">375</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">265</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">6,253</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">2</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">12,517</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">675</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1,499</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">14,694</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">9,530</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">632</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1,012</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">11,174</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">0</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1,063</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">58</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">35</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">1,156</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">868</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">58</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">41</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">967</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">11</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">53,597</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">2,924</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">2,860</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">59,392</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">48,079</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">3,206</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">2,831</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">54,117</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">12</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">4,132,034</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,993</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,520</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">3,206,509</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,665</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,013</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">931</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">12.97</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,467</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,882</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">No
    Applicable</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">14.99</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,925</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">2,795</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">No
    Applicable</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">UCHUCCHACUA</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2015</FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">25</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">110,724</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">6,377</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">4,841</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">121,967</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">132,110</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">8,115</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">5,618</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">145,843</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">6</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">25,222</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1,453</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1,103</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">27,784</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">24,125</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1,482</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1,026</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">26,633</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">7</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">37,753</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2,161</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">5,457</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">45,379</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">35,786</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2,248</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">3,850</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">41,884</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">3,228</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">186</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">141</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">3,555</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">3,099</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">190</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">132</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">3,421</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">39</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">176,927</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">10,177</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">11,543</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">198,685</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">195,120</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">12,035</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">10,626</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">217,781</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">38</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">12,666,673</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">6,560</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">4,750</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">11,940,167</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">6,530</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">4,288</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,016</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">13.97</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,551</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">2,430</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">No
    Applicable</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">16.34</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,843</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">2,478</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">No
    Applicable</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">LA
    ZANJA</FONT></td></tr>
<tr>
    <TD STYLE="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2015</FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">31,095</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">737</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">31,832</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">22,804</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">939</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">23,743</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-24</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-1</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">-24</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">13</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">14</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">53</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">6</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">59</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">38</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-0</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">38</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">248</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">6</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">254</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">401</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">17</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">418</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">31,372</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">748</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">32,120</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">23,257</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">956</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">24,213</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">37,706</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">68,585</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">33,098</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">101,988</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">832</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">10.90</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">703</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">9.37</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">LA
    ZANJA</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2015</FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">110,848</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">3,367</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">114,214</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">79,713</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">3,426</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">83,139</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">11</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">0</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">11</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">115</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">5</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">120</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">194</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">18</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">212</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">240</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">4</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">244</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,172</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">36</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">1,207</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,382</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">59</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">1,441</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">112,224</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">3,421</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">115,645</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">81,450</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">3,495</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">84,944</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">142,299</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">324,151</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">143,151</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">418,565</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">789</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">10.55</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">No
    Applicable</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">569</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">8.35</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
</table>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt; text-align: right"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #0F243E">Compa&ntilde;&iacute;a de Minas Buenaventura S.A.A.</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #0F243E">Fourth Quarter and Full Year 2015 Results</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #0F243E">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --> of 28</P><P STYLE="margin: 0pt; text-align: right"></P></DIV>
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<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">BROCAL</FONT></td></tr>
<tr>
    <TD STYLE="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2015</FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,759</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">7,066</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">5,641</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">10,475</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">22,449</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">47,390</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">986</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">3,904</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,178</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">5,701</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">25,538</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">37,307</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">-</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,925</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">3,992</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2,269</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">6,903</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">25,762</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">40,851</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,203</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">3,587</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">642</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">3,320</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">30,590</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">39,343</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">134</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">539</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">431</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">799</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1,713</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">3,617</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">28</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">113</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">34</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">165</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">737</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">1,077</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">3,818</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">11,597</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">8,340</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">18,177</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">49,924</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">91,858</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">2,218</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">7,604</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">1,855</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">9,185</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">56,865</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">77,727</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">2,835</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">881,192</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">5,870</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">12,586</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">9,150</FONT></td>
    <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">2,278</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">672,417</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,609</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">6,955</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">10,436</FONT></td>
    <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,347</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">13.16</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,421</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,444</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">5,456</FONT></td>
    <td style="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">973</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">11.31</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,152</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,321</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">5,449</FONT></td>
    <td style="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">BROCAL</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2015</FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">4,258</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">21,024</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">15,244</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">42,157</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">68,711</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">151,394</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">3,491</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">12,331</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">2,051</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">6,478</FONT></td>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">96,934</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">121,285</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">-</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">4,847</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">13,583</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">6,669</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">24,622</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">81,479</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">131,200</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">3,777</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">12,345</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1,317</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">4,105</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">102,258</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">123,801</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">255</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1,258</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">912</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2,522</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">4,110</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">9,056</FONT></td>
    <TD STYLE="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">204</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">722</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">120</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">379</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">5,677</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">7,103</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">9,359</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">35,865</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">22,826</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">69,301</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">154,300</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">291,650</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">7,472</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">25,398</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">3,488</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">10,962</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">204,869</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">252,189</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">7,181</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">2,637,215</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">16,739</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">43,297</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">28,991</FONT></td>
    <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">7,874</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,928,243</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">2,759</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">8,007</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">40,198</FONT></td>
    <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,303</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">13.60</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,364</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,601</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">5,322</FONT></td>
    <td style="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">No
    Applicable</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">949</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">13.17</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,264</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,369</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">5,096</FONT></td>
    <td style="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">NON
    MINING COMPANIES</FONT></td></tr>
<tr>
    <TD STYLE="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2015</FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr>
    <td style="vertical-align: middle; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; text-align: right; background-color: white; padding-right: 2pt"><FONT STYLE="font-size: 7pt">3,193</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; text-align: right; background-color: white; padding-right: 2pt; height: auto"><FONT STYLE="font-size: 7pt">23,984</FONT></td></tr>
<tr style="background-color: white">
    <td style="font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt; height: auto"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="background-color: white">
    <td style="padding-left: 27px; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">879</FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; padding-right: 2pt; height: auto"><FONT STYLE="font-size: 7pt">232</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Total
    (US$000)</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">4,073</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; padding-right: 2pt; height: auto"><FONT STYLE="font-size: 7pt">24,216</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">NON
    MINING COMPANIES</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2015</FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr>
    <td style="vertical-align: middle; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; background-color: white; padding-right: 2pt"><FONT STYLE="font-size: 7pt">38,246</FONT></td>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; text-align: right; background-color: white"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; text-align: right; background-color: white; padding-right: 2pt"><FONT STYLE="font-size: 7pt">69,011</FONT></td></tr>
<tr style="background-color: white">
    <td style="font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <TD STYLE="vertical-align: bottom; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: bottom; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: top; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="vertical-align: bottom; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">-</FONT></td></tr>
<tr style="background-color: white">
    <td style="padding-left: 27px; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">2,217</FONT></td>
    <TD STYLE="vertical-align: top; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: top; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: top; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: top; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: top; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="vertical-align: bottom; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">470</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Total
    (US$000)</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">40,463</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">69,481</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt; text-align: right"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #0F243E">Compa&ntilde;&iacute;a de Minas Buenaventura S.A.A.</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #0F243E">Fourth Quarter and Full Year 2015 Results</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #0F243E">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --> of 28</P><P STYLE="margin: 0pt; text-align: right"></P></DIV>
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<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">BUENAVENTURA
    CONSOLIDATED</FONT></td></tr>
<tr>
    <TD STYLE="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2015</FONT></td>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">59,493</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">49,601</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">9,212</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">12,847</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">22,502</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">156,848</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">58,109</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">44,856</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">5,235</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">9,203</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">25,584</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">166,971</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">9,809</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">13,621</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">1,177</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">801</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">21</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">25,429</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">10,019</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">8,935</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">1,202</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">1,096</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">23</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">21,273</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">2,098</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">19,738</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">3,824</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">9,560</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">25,778</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">60,998</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,353</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">15,245</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">2,035</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">5,627</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">30,602</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">54,862</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">583</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">1,959</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">599</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">930</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">1,715</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">6,666</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">714</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">1,415</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">228</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">354</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">740</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">3,684</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <td style="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">71,983</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">84,919</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">14,812</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">24,139</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">50,016</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">249,941</FONT></td>
    <td style="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">70,196</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">70,450</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">8,700</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">16,279</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">56,949</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">246,790</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">93,352</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">6,575,608</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">10,302</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">16,087</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">9,176</FONT></td>
    <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">102,043</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">5,075,656</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">5,470</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">9,961</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">10,451</FONT></td>
    <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">771</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">12.91</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,438</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,501</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">5,451</FONT></td>
    <td style="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">688</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">13.88</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,591</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,634</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">5,449</FONT></td>
    <td style="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">BUENAVENTURA
    CONSOLIDATED</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2015</FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">229,763</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">171,470</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">28,718</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">53,254</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">68,953</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">590,405</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">226,146</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">184,648</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">18,016</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">19,593</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">97,124</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">614,539</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">41,980</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">41,519</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">4,399</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">3,502</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">121</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">91,520</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">50,957</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">38,614</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">4,461</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">3,737</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">83</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">97,852</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">5,467</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">62,716</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">12,077</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">34,392</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">81,560</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">196,211</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">4,405</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">57,972</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">6,686</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">13,109</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">102,312</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">184,483</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">2,366</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">6,109</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">1,553</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">3,116</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">4,120</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">19,481</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">2,883</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">5,573</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">875</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">1,120</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">5,685</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">16,605</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <td style="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">279,576</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">281,814</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">46,747</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">94,264</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">154,754</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">897,618</FONT></td>
    <td style="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">284,391</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">286,807</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">30,038</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">37,559</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">205,203</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">913,479</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">380,899</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">21,023,873</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">32,389</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">55,529</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">29,094</FONT></td>
    <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">436,257</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">19,045,010</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">18,599</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">20,904</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">40,263</FONT></td>
    <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">734</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">13.40</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,443</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,698</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">5,319</FONT></td>
    <td style="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">652</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">15.06</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,615</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">1,797</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">5,097</FONT></td>
    <td style="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">COIMOLACHE</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2015</FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">4Q
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">16,925</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,368</FONT></td>
    <td style="text-align: center; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">18,292</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">14,903</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,167</FONT></td>
    <td style="text-align: center; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">16,070</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,578</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">128</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">1,706</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">3,510</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">275</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">3,785</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">267</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">30</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">298</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">202</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">19</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">220</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">380</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">31</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">411</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">278</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">22</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">300</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <td style="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">19,151</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">1,556</FONT></td>
    <td style="font-weight: bold; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="font-weight: bold; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="font-weight: bold; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">20,707</FONT></td>
    <td style="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">18,893</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">1,482</FONT></td>
    <td style="font-weight: bold; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="font-weight: bold; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="font-weight: bold; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">20,375</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">49,363</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">294,995</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">39,776</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">233,169</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">388</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">5.28</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">475</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">6.36</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="12" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">COIMOLACHE</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; font-weight: bold; vertical-align: bottom; text-align: left; background-color: white"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2015</FONT></td>
    <td colspan="6" style="color: white; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt; background-color: #0C5B54"><FONT STYLE="font-size: 7pt">FY
    2014</FONT></td></tr>
<tr>
    <td style="padding-left: 27px; vertical-align: bottom; text-align: left; background-color: white; width: 28%"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">GOLD
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">SILVER
    (OZ)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">LEAD
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 5%"><FONT STYLE="font-size: 7pt">ZINC
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 6%"><FONT STYLE="font-size: 7pt">COPPER
    (MT)</FONT></td>
    <td style="color: white; font-weight: bold; vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: #0C5B54; width: 8%"><FONT STYLE="font-size: 7pt">TOTAL</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    of Sales (without D&amp;A) (US$000)</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">55,952</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">4,576</FONT></td>
    <td style="text-align: center; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">60,527</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">55,041</FONT></td>
    <td style="text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">4,237</FONT></td>
    <td style="text-align: center; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt"><FONT STYLE="font-size: 7pt">59,278</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Add:</FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Exploration
    Expenses (US$000)</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">12,598</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">1,030</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">13,628</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">8,178</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">629</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">8,808</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Commercial
    Deductions (US$000)</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">776</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">71</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">847</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">453</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">34</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">487</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Selling
    Expenses (US$000)</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,028</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">84</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">1,112</FONT></td>
    <td style="text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">1,001</FONT></td>
    <td style="text-align: right"><FONT STYLE="font-size: 7pt">77</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">1,078</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Cost
    Applicable to Sales (US$000)</FONT></td>
    <td style="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">70,353</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">5,761</FONT></td>
    <td style="font-weight: bold; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="font-weight: bold; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="font-weight: bold; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">76,114</FONT></td>
    <td style="font-weight: bold; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">64,673</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="font-size: 7pt">4,977</FONT></td>
    <td style="font-weight: bold; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="font-weight: bold; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="font-weight: bold; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <TD STYLE="font-weight: bold; border-right: Black 0.5pt solid; text-align: right; padding-right: 2pt"><FONT STYLE="font-size: 7pt">69,650</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 18px; font-weight: bold; border-right: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Divide:</FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <td style="text-align: center"><FONT STYLE="font-size: 7pt"></FONT></td>
    <TD STYLE="border-right: Black 0.5pt solid; text-align: center; padding-right: 2pt"><FONT STYLE="font-size: 7pt"></FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="padding-left: 27px; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">Volume
    Sold</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">143,791</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">874,271</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">142,084</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">741,525</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #0C5B54">
    <td style="padding-left: 90px; color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: left"><FONT STYLE="font-size: 7pt">CAS</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">489</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">6.59</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">No
    Applicable</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt"><FONT STYLE="font-size: 7pt">455</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-size: 7pt">6.71</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></td>
    <td style="color: white; font-weight: bold; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center"><FONT STYLE="font-size: 7pt">Not
    Applicable</FONT></td></tr>
</table>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>APPENDIX 6: ALL-IN SUSTAINING COST</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>All-in Sustaining Cost for 4Q15</B></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; font-style: normal"><FONT STYLE="color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; font-style: normal; text-align: center"><FONT STYLE="color: Black">Buenaventura<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal"><B><SUP>1</SUP></B></FONT></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; font-style: normal"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">La Zanja</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Tantahuatay</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; font-style: normal"><FONT STYLE="color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; font-style: normal; text-align: center"><FONT STYLE="color: Black">Attributable
    Production<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal"><B><SUP>2</SUP></B></FONT></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; font-style: normal"><FONT STYLE="color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">4Q15</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">4Q15</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">4Q15</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">4Q15</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 44%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Au Ounces Sold BVN</FONT></TD><TD STYLE="width: 2%; font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">90,462</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 2%; font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 2%; font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 2%; font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="color: Black">Au Ounces bought from La Zanja</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">-37,652</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Au Ounces Sold Net</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">52,810</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">37,847</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">49,363</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">92,684</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">4Q15</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">4Q15</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">4Q15</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">4Q15</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">Income
    Statement &amp; Cash Flow</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">US$
    000'</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">US$/Oz
    Au</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">US$
    000'</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">US$/Oz
    Au</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">US$
    000'</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">US$/Oz
    Au</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">US$
    000'</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">US$/Oz
    Au</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; width: 36%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right; width: 5%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right; width: 5%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right; width: 5%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right; width: 5%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right; width: 5%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right; width: 5%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right; width: 5%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right; width: 5%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: normal; font-style: normal"><FONT STYLE="font-size: 8pt; color: Black">Cost of Sales<FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><SUP>3</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">78,768</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,492</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">19,617</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">518</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">18,292</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">371</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">96,511</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,041</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Exploration in Operating Units</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">25,492</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">483</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">549</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">15</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,706</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">35</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">26,467</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">286</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">Royalties</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">5,041</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">95</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">5,041</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">54</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: normal; font-style: normal"><FONT STYLE="font-size: 8pt; color: Black">Comercial
    Deductions<FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><SUP>4</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">20,088</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">380</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">873</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">23</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">298</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">20,671</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">223</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Selling Expenses</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,913</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">36</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">254</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">411</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,212</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">24</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: normal; font-style: normal"><FONT STYLE="font-size: 8pt; color: Black">Administrative
    Expenses<FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><SUP>5</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">11,481</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">217</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,051</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">28</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">821</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">17</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">12,368</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">133</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Other Expenses</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">4,018</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">106</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,502</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">30</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,734</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">30</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Other Incomes</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-2,898</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-55</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-5,638</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-149</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-2,249</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-46</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-6,791</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-73</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Other administrative charges</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,718</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">72</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">564</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">11</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,668</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">18</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: normal; font-style: normal"><FONT STYLE="font-size: 8pt; color: Black">Sustaining
    Capex<FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><SUP>6</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">16,209</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">307</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,592</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">42</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">15,865</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">321</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">23,414</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">253</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">By-product Credit</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-93,749</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-1,775</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-977</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-26</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-4,346</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-88</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-96,010</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-1,036</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">All-in Sustaining
    Cost</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">62,345</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,181</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">24,057</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">636</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">32,864</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">666</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">88,286</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">953</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">*All-in Sustaining Cost does not include:
Depreciation and Amortization, Stoppage of mining units, Exploration in non-operating areas.</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-decoration: underline; margin-top: 0pt; margin-bottom: 0pt">Notes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">1. Non-consolidated financial statements for Compa&ntilde;ia De Minas Buenaventura S.A.A. (Does not consider El Brocal)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">2. Considers 100% from Compa&ntilde;ia De Minas Buenaventura S.A.A., 53.06% from La Zanja and 40.095% from Tantahuatay.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">3. For Buenaventura does not consider purchase of concentrate from La Zanja.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">4. For all metals produced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">5. For Buenaventura, does not consider management services charged to subsidiaries. For La Zanja does not consider US$ 3.8 MM Impairment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">6. Sustaining Capex + Growth Capex equals Acquisitions of mining concessions, development costs, property, plant and equipment.  </P>




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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">All-in Sustaining Cost for FY15</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; font-style: normal"><FONT STYLE="color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; font-style: normal; text-align: center"><FONT STYLE="color: Black">Buenaventura<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal"><B><SUP>1</SUP></B></FONT></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; font-style: normal"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">La Zanja</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Coimolache</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; font-style: normal"><FONT STYLE="color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; font-style: normal; text-align: center"><FONT STYLE="color: Black">Attributable
    Production<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal"><B><SUP>2</SUP></B></FONT></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; font-style: normal"><FONT STYLE="color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">FY15</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">FY15</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">FY15</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">FY15</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 44%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Au Ounces Sold BVN</FONT></TD><TD STYLE="width: 2%; font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">373,548</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 2%; font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 2%; font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 2%; font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="color: Black">Au Ounces bought from La Zanja</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">-142,129</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">Au Ounces Sold Net</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">231,419</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">138,465</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">143,791</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">362,541</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black"></FONT></TD></TR>
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<P STYLE="margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">FY15</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">FY15</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">FY15</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">FY15</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">Income
    Statement &amp; Cash Flow</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">US$
    000'</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">US$/Oz
    Au</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">US$
    000'</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">US$/Oz
    Au</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">US$
    000'</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">US$/Oz
    Au</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">US$
    000'</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">US$/Oz
    Au</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 36%; font-size: 10pt; font-weight: normal; font-style: normal"><FONT STYLE="font-size: 8pt; color: Black">Cost
    of Sales<FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><SUP>3</SUP></FONT></FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="width: 5%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">307,709</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="width: 5%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,330</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="width: 5%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">106,749</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="width: 5%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">771</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="width: 5%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">60,527</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="width: 5%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">421</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="width: 5%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">388,619</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="width: 5%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,072</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Exploration in Operating Units</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">91,548</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">396</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8,995</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">65</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">13,628</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">95</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">101,785</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">281</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">Royalties</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">21,942</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">95</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">21,942</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">61</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: normal; font-style: normal"><FONT STYLE="font-size: 8pt; color: Black">Comercial
    Deductions<FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><SUP>4</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">64,799</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">280</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,367</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">24</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">847</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">66,925</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">185</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Selling Expenses</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,001</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">30</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,207</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">9</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,112</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8,087</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">22</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: normal; font-style: normal"><FONT STYLE="font-size: 8pt; color: Black">Administrative
    Expenses<FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><SUP>5</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">47,125</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">204</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,251</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">16</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,185</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">15</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">49,195</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">136</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Other Expenses</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">14,174</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">102</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,136</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">50</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">10,382</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">29</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Other Incomes</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-6,881</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-30</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-21,676</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-157</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-9,270</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-64</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-22,099</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-61</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Other administrative charges</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8,190</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">59</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,369</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">10</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">4,894</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">14</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: normal; font-style: normal"><FONT STYLE="font-size: 8pt; color: Black">Sustaining
    Capex<FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><SUP>6</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">38,861</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">168</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">27,615</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">199</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">48,509</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">337</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">72,964</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">201</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">By-product Credit</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-320,485</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-1,385</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-4,947</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-36</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-13,468</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-94</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-328,510</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-906</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">All-in Sustaining
    Cost</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">251,619</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,087</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">145,926</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,054</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">112,575</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">783</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">374,184</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,032</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black"></FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">*All-in Sustaining Cost does not include:
Depreciation and Amortization, Stoppage of mining units, Exploration in non-operating areas.</P>



<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Notes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">1. Non-consolidated financial statements for Compa&ntilde;ia De Minas Buenaventura S.A.A. (Does not consider El Brocal)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">2. Considers 100% from Compa&ntilde;ia De Minas Buenaventura S.A.A., 53.06% from La Zanja and 40.095% from Tantahuatay.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">3. For Buenaventura does not consider purchase of concentrate from La Zanja.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">4. For all metals produced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">5. For Buenaventura, does not consider management services charged to subsidiaries. For La Zanja does not consider US$ 3.8 MM Impairment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">6. Sustaining Capex + Growth Capex equals Acquisitions of mining concessions, development costs, property, plant and equipment.</P>




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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>APPENDIX 7 (See following pages)</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Compa&ntilde;&iacute;a de Minas Buenaventura S.A.A. and Subsidiaries</P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Consolidated Statement of Financial Position</P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">As of December 31, 2015 and December 31, 2014</P>



<P STYLE="margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="width: 72%; font-size: 10pt; text-align: center"></TD><TD STYLE="width: 2%; font-size: 10pt; font-weight: bold; text-align: center"></TD>
    <TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: center"></TD><TD STYLE="width: 10%; font-size: 10pt; font-weight: bold; text-align: center">2015</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: center"></TD><TD STYLE="width: 2%; font-size: 10pt; font-weight: bold; text-align: center"></TD>
    <TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: center"></TD><TD STYLE="width: 10%; font-size: 10pt; font-weight: bold; text-align: center">2014</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: center"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Assets</TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">US$(000)</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">US$(000)</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Current assets</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Cash and cash equivalents</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">78,519</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">78,512</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Trade and other accounts receivable, net</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">219,862</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">281,604</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Income tax credit</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">45,919</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">53,746</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Prepaid expenses</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">8,231</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">16,954</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Hedge derivative financial instruments</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">3,688</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Embedded derivatives for concentrate sales, net</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Inventory, net</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">101,473</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">150,284</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Total current assets</TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">454,004</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">584,788</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Assets classified as held for sale</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">15,592</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">18,683</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt"></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">469,596</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">603,471</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Non-current assets</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Trade and other accounts receivable, net</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">162,567</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">26,651</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Long-term inventory</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">26,029</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">34,088</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Investment in associates</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">2,043,983</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">2,224,381</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Mining concessions, development costs, property, plant and equipment, net</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">1,747,624</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">1,715,452</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Investment properties</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">10,719</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">11,200</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Deferred income tax asset</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">41,575</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">47,675</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Prepaid expenses</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">29,235</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other assets, net</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">15,853</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">9,356</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Total non-current assets</TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">4,077,585</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">4,068,803</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total assets</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">4,547,181</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">4,672,274</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Liabilities and shareholders&rsquo; equity</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Current liabilities</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Overdraft and bank loans</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">285,302</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">40,000</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Trade and other accounts payable</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">247,114</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">254,000</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Provisions</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">49,829</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">67,895</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Income tax payable</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">2,444</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">3,556</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Hedge derivative financial instruments</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">10,643</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Embedded derivatives for concentrate sales, net</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">1,694</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">9,072</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Financial obligations</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">33,394</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">69,950</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Total current liabilities</TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">630,420</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">444,473</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Liabilities directly associated with assets classified as held for sale</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">20,611</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">28,890</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt"></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">651,031</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">473,363</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Non-current liabilities</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Financial liability at fair value through profit or loss</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">16,994</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">23,026</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Trade and other accounts payable</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">15,057</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">15,240</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Provisions</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">141,885</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">63,571</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Financial obligations</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">320,316</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">313,355</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Deferred income tax liability</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">12,662</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">21,594</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Total non-current liabilities</TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">506,914</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">436,786</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #222222; padding-bottom: 1pt"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,157,945</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">910,149</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Shareholders&rsquo; equity</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Issued capital, net of treasury shares for US$(000)62,665</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">750,497</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">750,497</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Investment shares, net of treasury shares for US$(000)765</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">1,396</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">1,396</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Additional paid-in capital</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">219,055</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">219,055</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Legal reserve</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">162,714</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">162,710</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Other reserves</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">269</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">269</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Retained earnings</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">2,024,895</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">2,328,423</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other equity reserves</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,240</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,755</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">3,161,066</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">3,464,105</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Non-controlling interest</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">228,170</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">298,020</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total shareholders&rsquo; equity</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">3,389,236</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">3,762,125</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total liabilities and shareholders&rsquo; equity</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">4,547,181</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">4,672,274</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left"></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt; text-align: right"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #0F243E">Compa&ntilde;&iacute;a de Minas Buenaventura S.A.A.</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #0F243E">Fourth Quarter and Full Year 2015 Results</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #0F243E">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --> of 28</P><P STYLE="margin: 0pt; text-align: right"></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Compa&ntilde;&iacute;a de Minas Buenaventura S.A.A. and
Subsidiaries</B></P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Consolidated Statement of Income</P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">For the three and twelve month periods ended December 31, 2015 and 2014</P>



<P STYLE="margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the three month period ended December, 31</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the twelve month period ended December, 31</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">2015</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">2014</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">2015</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">2014</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">US$(000)</TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">US$(000)</TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">US$(000)</TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">US$(000)</TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Operating income</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 44%; font-size: 10pt; text-align: left">Net sales</TD><TD STYLE="width: 2%; font-size: 10pt"></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">227,494</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD><TD STYLE="width: 2%; font-size: 10pt"></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">264,550</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD><TD STYLE="width: 2%; font-size: 10pt"></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">919,450</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD><TD STYLE="width: 2%; font-size: 10pt"></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">1,138,913</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Royalty income</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">7,214</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">11,911</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">32,414</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">36,867</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Total operating income</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">234,708</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">276,461</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">951,864</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">1,175,780</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Operating costs</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Cost of sales, without considering depreciation and amortization</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(156,848</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(166,971</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(590,405</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(614,539</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Exploration in operating units</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(25,429</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(21,273</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(91,520</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(97,852</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Depreciation and amortization</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(63,280</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(57,684</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(242,465</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(208,698</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Mining royalties</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(5,444</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(6,630</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(27,407</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(28,440</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total operating costs</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(251,001</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(252,558</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(951,797</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(949,529</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Gross profit</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(16,293</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">23,903</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">67</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">226,251</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Operating expenses</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Administrative expenses</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(25,753</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(28,443</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(86,532</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(101,102</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Exploration in non-operating areas</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(4,950</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(17,632</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(30,610</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(50,007</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Selling expenses</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(6,666</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(3,684</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(19,481</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(16,605</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Impairment of long-lived assets</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(7,172</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">2,228</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(11,255</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other, net</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">7,905</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">5,299</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">209</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,059</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total operating expenses</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(36,636</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(42,232</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(147,669</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(164,655</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Operating profit</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(52,929</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(18,329</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(147,602</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">61,596</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Other income, net</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Share in the results of associates under equity method</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(234,996</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(113,842</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(173,375</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(74,600</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Financial income</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">8,585</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">4,209</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">11,026</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">8,408</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Financial expenses</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(6,519</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(4,313</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(27,622</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(11,318</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Net loss from currency exchange difference</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(6,158</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(3,381</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(13,683</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(8,452</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Adquiscion gain generated by subsidiary</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(27</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">59,852</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Total other income, net</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(239,088</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(117,354</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(203,654</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(26,110</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Profit before income taxes and non-controlling interest</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(292,017</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(135,683</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(351,256</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">35,486</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Income taxes</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(18,697</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(23,928</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(14,766</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(66,012</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Net profit</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(310,714</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(159,611</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(366,022</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(30,526</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Discontinued operations</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Loss from discontinued operations</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(4,583</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(4,830</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(9,523</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(31,114</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Net Income</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(315,297</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(164,441</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(375,545</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(61,640</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Attributable to:</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Owners of the parent</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(292,554</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(161,377</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(317,210</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(76,065</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Non-controlling interest</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(22,743</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(3,064</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(58,335</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">14,425</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt"></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(315,297</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(164,441</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(375,545</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(61,640</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Basic and diluted earnings per share attributable</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt">to owners of the parent, stated in U.S. dollars</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(1.15</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(0.63</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(1.25</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(0.30</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Weighted average number of shares outstanding</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt">(common and investment), in units</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">254,186,867</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">254,186,867</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">254,186,867</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">254,186,867</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"></TD></TR>
</TABLE>



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<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Compa&ntilde;&iacute;a de Minas Buenaventura S.A.A. and Subsidiaries</P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Consolidated Statement of Cash Flows</P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">For the three and twelve month periods ended December 31, 2015 and 2014</P>



<P STYLE="margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the three month period ended December, 31</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the twelve month period ended December, 31</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">2015</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">2014</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">2015</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">2014</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">US$(000)</TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">US$(000)</TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">US$(000)</TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">US$(000)</TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Operating activities</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 56%; font-size: 10pt; text-align: left">Proceeds from sales</TD><TD STYLE="width: 1%; font-size: 10pt"></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">(243,306</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD><TD STYLE="width: 1%; font-size: 10pt"></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">(288,003</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD><TD STYLE="width: 1%; font-size: 10pt"></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">965,273</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD><TD STYLE="width: 1%; font-size: 10pt"></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">1,144,394</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Value Added Tax (VAT) recovered</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(6,908</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">81,692</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">39,685</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Royalties received</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(10,017</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(9,104</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">38,983</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">31,252</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Dividends received</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(1,916</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(6,012</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">6,691</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">12,938</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Interest received</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(1,153</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(4,027</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">3,650</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">8,333</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Payments to suppliers and third-parties</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">173,546</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">285,678</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(727,017</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(805,413</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Payments to employees</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">47,409</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">46,424</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(175,329</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(203,496</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Payment of income tax</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">4,943</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">1,768</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(22,330</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(33,161</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Payment of royalties</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">5,429</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">5,783</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(22,836</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(22,631</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Payment of interest</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,235</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,032</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(21,518</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(9,405</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Net cash and cash equivalents provided by operating activities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(27,738</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">36,539</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">127,259</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">162,496</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Investing activities</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Proceeds from settlement of financial assets at fair value through profit or loss</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">80</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Proceeds from collections of loans to associates</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">141</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">15,553</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Proceeds from sales of mining concessions, property, plant and equipment</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(2,892</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(1,512</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">5,481</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">1,681</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Proceeds from settlement of investment in shares</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Acquisitions of mining concessions, development costs, property, plant and equipment</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">44,759</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(14,419</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(211,286</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(227,564</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Acquisitions of investment properties</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(11,705</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Loans</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">104,829</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(125,629</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Payments for acquisitions of other assets</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">10,238</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(10,238</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Payment for purchase of investments</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(57</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(80,316</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Opening of term deposits</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(7,350</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Contributions and investments in associates</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,112</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(2,012</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Net cash and cash equivalents used in investing activities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">149,725</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(26,501</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(341,672</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(292,658</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Financing activities</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Increase of bank loans</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(104,503</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">504</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">344,503</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">40,000</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Payment of bank loans</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(90,000</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Increase in financial obligations</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">9,704</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">9,433</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">296</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">177,125</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Payment of financial obligations</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">21</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">2,433</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(29,891</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(42,205</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Dividends paid</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(70</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">5,845</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(8,642</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Dividends paid to non-controlling interest</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">2,440</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">2,640</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(10,488</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(8,880</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Purchase of associates' shares</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Net cash and cash equivalents provided by (used in) financing activities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(92,408</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">20,855</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">214,420</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">157,398</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Net increase (decrease) in cash and cash equivalents during the period</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">29,579</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">30,893</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">7</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">27,236</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Cash and cash equivalents at the beginning of the period</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">48,940</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">47,619</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">78,512</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">51,276</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Cash and cash equivalents at period-end</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">78,519</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">78,512</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">78,519</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">78,512</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>APPENDIX 8</B></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the three month period ended December, 31</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the twelve month period ended December, 31</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">2015</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">2015</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">US$(000)</TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">US$(000)</TD><TD STYLE="font-size: 10pt; font-weight: bold"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Reconciliation of net profit (loss) to cash and cash equivalents provided by operating activities</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-left: 9px"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 68%; font-size: 10pt; text-align: left; padding-left: 9px">Net profit (loss) attributable to owners of the parent</TD><TD STYLE="width: 2%; font-size: 10pt"></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">292,554</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD><TD STYLE="width: 2%; font-size: 10pt"></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"></TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">(317,210</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Plus (less):</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Depreciation and amortization</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(63,280</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">242,465</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Provision for impairment of inventories</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">973</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">12,737</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Net loss (gain) on sales of mining concessions, property, plant and equipment</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">14,060</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(440</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Net loss from currency exchange difference</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(6,039</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">13,564</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Provision for impairment of long-lived assets</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(7,452</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">11,255</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Accretion expense of provision for closure of mining units and exploration projects</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(412</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">3,343</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Provision for interest payable</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">1,659</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Allowance for doubtful accounts</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">1,101</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Provision for employee bonus</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">254</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(119</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Net share in the results of associates under equity method</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(234,996</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">173,375</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Net profit (loss) attributable to non-controlling interest</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">22,743</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(58,335</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Deferred income tax expense (income)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(15,031</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">541</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Provision for estimated fair value of embedded derivatives related to concentrate</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">812</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(7,159</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 18px">sales and adjustments on open liquidations</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">0</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Other provisions</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(18,239</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">18,670</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-left: 9px">Net changes in operating assets and liabilities</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Decrease (increase) in operating assets</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 18px">Trade and other accounts receivable, net</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">125,467</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(73,497</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 18px">Inventory, net</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(58,592</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">70,248</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 18px">Income tax credit</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(2,437</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">7,827</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 18px">Prepaid expenses</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">27,727</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(20,485</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Increase (decrease) in operating liabilities</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 18px">Trade and other accounts payable</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(25,779</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(9,431</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 18px">Income tax payable</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(55,278</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">54,331</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 18px">Provisions</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(25,637</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(1,112</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 18px"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">0</TD><TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right"></TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9px">Dividends received</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">(1,916</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt"></TD>
    <TD STYLE="font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; text-align: right">6,691</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net cash and cash equivalents provided by operating activities</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(27,738</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">127,259</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Signature</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Compa&ntilde;&iacute;a de Minas Buenaventura S.A.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ CARLOS E. GALVEZ PINILLOS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Carlos E. G&aacute;lvez Pinillos</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: February 26, 2016</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
