Organized by CGS Events, the conference is positioned as a dedicated meeting point for mineral exploration and development in Colombia, providing updates on exploration projects, field activities, government policy, and the future of the country’s mining sector.

With Colombia’s mineral resources attracting growing international attention, CGS Colombia 2026 will examine the opportunities and challenges shaping the industry, including exploration strategies, regulatory developments, investment trends, and the advancement of gold and copper projects across the country.

The two-day event will feature discussions, networking opportunities, and insights from companies and professionals involved in Colombia’s exploration ecosystem. Attendees will have the opportunity to connect with project developers, technical specialists, investors, and stakeholders working across the mining value chain.

Dates: November 10–11, 2026
Venue: InterContinental Medellín, Medellín, Colombia

For more information and registration details, visit the official event page.

Colombia’s economy expanded at an estimated annual pace of 2.7% in the second quarter of 2026, according to the latest reading of the Grupo Cibest NowCast Bancolombia indicator. The figure sits 20 basis points below the rolling quarter ending in May, which the group revised upward by 20 basis points to 2.9%. With the second-quarter estimate in hand, the economy is now judged to have grown 2.4% year-over-year in the first half of the year, a pace the analysts say confirms that activity remains below its potential.

“The economy is estimated to have grown 2.4% year-over-year in the first half, confirming that economic activity remains below its potential.” — Grupo Cibest, Economic, Industry and Market Research (July 2, 2026)

NowCast Bancolombia is a family of proprietary, high-frequency indicators built by Grupo Cibest — the financial holding group that owns Bancolombia (NYSE: CIB) and adopted its current name in May 2025 — from transactions across the group’s payment channels. The indices are designed to complement, not replace, the official statistics published by the Departamento Administrativo Nacional de Estadística (DANE, the National Administrative Department of Statistics), whose figures are available through its website.

For the second quarter, the group revised its NowCast forecast upward by 10 basis points to 2.7%, bringing the projection into line with the market consensus average among analysts. The indicator rose from 2.6% at the end of May to 2.7% at the end of June, matching the 2.7% consensus.

Subdued Growth Across the Board

The monthly readings were more subdued. On a seasonally adjusted basis, the NowCast index contracted 1.2% from the prior month in June. In year-over-year terms against June 2025, growth eased to 1.9%, some 0.5 percentage points below the May reading of 2.4%. Measured as a three-month moving average, year-over-year growth held at 2.7%.

At the sector level, the second quarter showed a divergence between primary and secondary activities. Faster growth appeared in recreation, professional services, agriculture, and manufacturing. The public sector, real estate, communications, trade, and electricity utilities held steady growth rates. Construction activity continued to decelerate, while mining was the only sector to contract by the close of the quarter.

Grupo Cibest’s sector heat map, which tracks year-over-year change on a three-month moving-average basis, put entertainment as the standout in June at 9.7%, followed by financial services at 6.0%, and wholesale and retail trade at 4.0%. Manufacturing reached 3.7% and agriculture 3.5%, both near the top of their recent ranges. At the other end, construction slowed sharply to 0.6% after running above 3% for much of the past year, the information sector managed just 0.2%, and mining slipped to -0.5%.

The report was prepared by Grupo Cibest’s Economic, Industry and Market Research area, led on quantitative work by Arturo Yesid González Peña, the group’s Head of Quantitative & Analytics, with Sebastián Ospina Cuartas serving as data controller. It follows the group’s prior-month estimate, which had pointed to a second-quarter acceleration toward 2.6%.

Above: The construction industry’s growth continued to decelerate as Grupo Cibest reports a 2.7% economic growth for Colombia as a whole in the second quarter. Stock photo by Ncpancy via Pixabay.

Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) has reported the first assay results from its 2026 surface in-fill diamond drilling program at the Las Brisas target on its wholly owned Zancudo gold-silver project in Colombia, located in the Cauca Belt about 30 kilometers southwest of Medellin.

The results cover the final assays for the first four drill holes, totaling roughly 660 meters, completed from the first purpose-built surface drill platform. The holes confirmed the high-grade gold and silver mineralization previously modeled on the Manto Antiguo and Santa Catalina structures.

Highlight intercepts included 7.43 grams per ton (g/t) gold and 15 g/t silver over 1.20 meters from 93.8 to 95.0 meters in hole ZM-195 on the Santa Catalina structure, including 28.70 g/t gold and 38 g/t silver over 0.30 meters. Hole ZM-197, on the Manto Antiguo structure, returned 8.36 g/t gold and 1,670 g/t silver over 1.0 meter from 160.3 to 161.3 meters, including 27.83 g/t gold and 5,564 g/t silver over 0.30 meters.

Key Drilling Results at Las Brisas

Notes: Intervals are core lengths; true widths are estimated at 80% to 90% of the reported lengths. Gold-equivalent (AuEq) grades were calculated using prices of $3,200 USD per ounce of gold and $40.00 USD per ounce of silver. “Unknown” denotes a new structure that does not correlate with any known structure or vein. Hole MT-196 returned no results above the 4 g/t AuEq cut-off, and hole MT-198 was aborted at shallow depth due to excessive deviation.

The Las Brisas target is an unexploited block within the Manto Antiguo structure that was preserved by past mining. The in-fill program is designed on 50-by-50-meter drill centers from eight platforms (IF-5 to IF-12) to better delineate and confirm the consistency of two ore shoots outlined by earlier drilling on the Manto Antiguo and Santa Catalina structures. The Manto Antiguo ore shoot, controlled by the intersection of the two structures, typically shows wider and higher-grade intercepts.

“This early progress at the Las Brisas Target reinforces our confidence in the continuity and quality of the known ore deposits at Zancudo.” – Serafino Iacono, Executive Chairman, Denarius Metals

Drilling at Las Brisas began in late April 2026 with a single rig and comprises about 6,000 meters across 29 diamond drill holes. The reported results cover the first four holes, about 660 meters, drilled from the first platform (IF-7). All holes completed to date on Manto Antiguo, totaling about 560 meters, intersected the structure at the estimated depth, with a maximum grade of 27.83 g/t gold and 5,564 g/t silver over 0.30 meters in ZM-197. On Santa Catalina, holes totaling about 660 meters intersected the structure at depth, with a maximum grade of 28.70 g/t gold and 38 g/t silver over 0.30 meters in ZM-195.

“This early progress at the Las Brisas Target reinforces our confidence in the continuity and quality of the known ore deposits at Zancudo,” said Serafino Iacono, executive chairman of Denarius Metals. “The 2026 in-fill drilling program has been designed taking into account the successful results achieved in our 2024 in-fill drilling campaign and underscores the potential and prospectivity of delineating new zones and expanding existing ones near planned mining infrastructures. We look forward to providing further updates through the course of this year’s drilling campaign.”

Structures and Geology

The Manto Antiguo structure, historically the main structure mined, is interpreted as a west-northwest to east-southeast trending brecciated manto that merges into the footwall of the Santa Catalina structure. 

The northerly-trending Santa Catalina structure, which dips steeply to the east near surface and gently at depth, is interpreted as a mineralized master fault and the feeder of mineralization for the entire vein system. The typically narrow Manto Antiguo structure shows a breccia texture with incipient quartz-sulphide banding and milled wall-rock clasts, with mineralization consisting of pyrite, arsenopyrite, sphalerite, and galena.

2026 Program and Processing Plant

The 2026 drill program totals a planned 15,000 meters across several targets within the Zancudo project, including Las Brisas, El Castano, the Independencia mine, and brownfield areas. The company said the program is intended to provide data for resource modeling, mine planning, and stope design as it ramps up mining at Zancudo in 2026 and 2027 to feed the project’s new 1,000-ton-per-day flotation processing plant, which is under construction and expected to be operating later this year.

The resource evaluation work was completed by Scott E. Wilson, CPG, president of Resource Development Associates and an independent qualified person under Canada’s NI 43-101, who inspected the Zancudo project on June 2-3, 2026. Core samples were prepared and assayed for gold by Actlabs at its laboratory in the Rionegro free-trade zone in Antioquia, Colombia, with multi-element analysis completed at its laboratory in Ancaster, Ontario.

Denarius Metals is a Canadian junior mining company focused on precious metals and polymetallic projects in Colombia and Spain, and trades on Cboe Canada as “DMET” and on the OTCQX Market in the United States as “DNRSF.” 

At Zancudo, its 100%-owned high-grade gold-silver deposit that includes the historic Independencia mine, the company is producing in an early-production phase while completing the processing plant, which it expects to begin producing high-grade gold-silver concentrates in the third quarter of 2026. 

In Spain, Denarius holds a 21.8% interest in and operates the Aguablanca nickel-copper project, recognized by the European Union as a Strategic Project, and owns 100% of the Lomero polymetallic project and the Toral zinc-lead-silver project.

Headline image description: The diagram showcases the target location of Denarius Metals in their Las Brisas mine site, and what they projected to have discovered there. Photo provided by Denarius Metals.

The event will serve as a forum for dialogue on the future of the mining sector, bringing together perspectives from across the industry to address challenges, opportunities, and the sector’s contribution to Colombia’s economic and social agenda.

You may register by filling out this form.

Aris Mining (TSX: ARIS; NYSE: ARIS) confirmed the completion of an underground infrastructure connection at its Marmato gold mine in Colombia. The development involved connecting a new surface decline to the existing underground mining workings.

This cross-cut connection serves as a technical step for the ongoing expansion project, which includes the construction of a 5,000 tons-per-day carbon-in-pulp (CIP) plant. The company stated that the infrastructure is currently on schedule to support the initiation of gold production in the fourth quarter of 2026.

Neil Woodyer, Chair and CEO of Aris Mining, stated: “The on-schedule connection of the new surface decline to the existing underground development is a major milestone for Marmato and an important step in delivering our expansion plans.”

The Marmato expansion is part of a broader strategy intended to increase the company’s annual gold production. Aris Mining aims to achieve a combined output of approximately 500,000 ounces per year from its Segovia and Marmato operations. The Segovia mine previously expanded its operational capacity following the installation of a second mill in June 2025.

The company maintains a long-term production objective of approximately 1 million ounces of gold annually. This target incorporates potential production from the Toroparu gold project in Guyana, where a prefeasibility study is currently underway. Aris Mining expects a construction decision regarding the Toroparu project in early 2027.

Regarding its portfolio in Colombia, the company is finalizing environmental studies for the Soto Norte gold project. Aris Mining plans to submit these documents for the licensing process during the second quarter of 2026.

Photo (© Loren Moss) illustrative only (Not marmato mine)

The mining industry in Colombia is undergoing a structural transformation as companies prioritize operational efficiency to navigate a challenging economic environment. Recent industry data shows the mining Producto Interno Bruto (GDP) contracted by approximately 8%, while foreign direct investment has experienced a notable downturn. This trend has prompted firms to seek innovative financial strategies to maintain sustainability and competitiveness.

A primary strategy gaining traction is the rotation of underutilized industrial assets. By leveraging industrial auctions, companies are liquidating idle machinery—such as excavators, drilling rigs, and heavy-duty power equipment—to recover capital without the necessity of maintaining internal commercial structures. Superbid, a multinational industrial auction platform, has emerged as a key facilitator for these transactions within the region.

“Asset rotation is becoming a strategic decision to free up capital and improve operations.” — Maria Paula Villa Velez, Superbid

This operational shift toward asset-light business models will be a central topic at MINEXPO Colombia 2026, which is scheduled to take place on April 15 and 16 at Plaza Mayor Medellín. The event serves as a platform for mining producers, suppliers, and investors to discuss strategies for financial optimization and industrial reindustrialization.

The secondary market for industrial equipment has expanded significantly as mining companies divest assets no longer essential to their core operations. This machinery is being repurposed in the infrastructure, construction, and energy sectors, thereby extending the lifecycle of the assets and contributing to circular economy objectives. Market participants have observed increased competition for this equipment, with buyers consistently acquiring assets at market-determined values.

Looking toward the remainder of 2026, industry analysts expect the integration of these efficient asset management models to accelerate, particularly in regions such as Antioquia, where the nexus of mining and infrastructure projects remains a critical economic driver.

“Today the mining sector is understanding that efficiency is not only in producing, but in better managing its resources,” stated Maria Paula Villa Velez, sub-manager at Superbid Medellin. “Asset rotation is becoming a strategic decision to free up capital and improve operations.”

Economic activity in Colombia expanded at an estimated annual rate of 2.1% during the first quarter of 2026. According to the latest NowCast report issued by the Grupo Cibest, unit of Bancolombia (NYSE: CIB, BVC: BCOLOMBIA), this outcome reflects a loss of momentum compared to the rolling quarter ended in February. That previous period recorded a growth of 2.2%, which was revised downward by 10 basis points from an initial estimate of 2.3%.

The 2.1% growth rate for the quarter indicates a slowdown relative to both the market consensus average of 2.7% and the internal growth forecast of 3.3% held by the bank. On a month-over-month basis, the seasonally adjusted series of the NowCast index posted a 1.3% contraction in March 2026. When compared to March 2025, economic activity grew by 2% year over year, representing a 50-basis-point decline from the 2.5% reading recorded the previous month.

“Overall, these results suggest that the economy is beginning to lose steam, amid multiple sources of uncertainty.” — NowCast Bancolombia Report

Analysis at the sector level reveals a broadly weaker growth profile, with deceleration appearing across most productive areas. Slower momentum was identified in trade, manufacturing, recreation, real estate, and financial services. Manufacturing expansion cooled to 1.0% in March 2026, while financial services recorded marginal growth of 0.6%. The real estate sector maintained a steady growth rate of 1.9%.

Construction and communications were the only sectors to record negative growth during the period. The construction sector saw a significant downturn, contracting by 2.3% in March 2026 after having posted 1.4% growth in February. The information and communications sector contracted by 0.4%, marking its fourth consecutive month in contractionary territory. Conversely, acceleration was noted in public administration, which grew by 5.1%, agriculture at 3.7%, and mining at 0.8%.

The NowCast family of indicators is prepared by Grupo Cibest through the processing and aggregation of transaction data from the bank’s various payment channels. Using advanced quantitative tools, the index provides high-frequency estimates of Colombian productive activity to complement official data from the Departamento Administrativo Nacional de Estadística. The report was authored by Arturo Yesid González Peña, Head of Quantitative and Analytics, and Sebastián Ospina Cuartas, Data Controller.

The report also incorporates data from the Bloomberg platform and FocusEconomics Consensus Forecasts to provide broader economic context. While the national economy remains in expansionary territory, the analysts suggest that the current results indicate the market is losing steam due to various sources of domestic uncertainty.

Baptiste is a Colombian biologist and academic recognized for her work in biodiversity conservation, sustainable development, and inclusion. She currently holds the position of Rector at Universidad Ean in Bogotá. Baptiste previously served as the Director of the Alexander von Humboldt Institute for Research on Biological Resources, Colombia’s national biodiversity research center. Her background includes engagement with environmental and social policy across Latin America, and she is a member of international advisory panels focused on climate action.

Ian Telfer, Chair of the Aris Mining Board, noted that the appointment is consistent with the company’s objectives related to environmental science, biodiversity management, and inclusive leadership, intending to apply this expertise to its mining operations in Colombia and Guyana.

Aris Mining was founded in September 2022 as a gold mining company focused on South America. The company’s business model combines generating cash flow from existing production with growth driven by asset expansions, exploration, and development projects.

Above photo: Brigitte Baptiste speaking at the Colombia Gold Summit (photo: Loren Moss)

The company’s flagship Jupiter 3 satellite was launched July 29, 2023 and covers north & south America with capacity exceeding 500gbps, and individual streams up to 100mbps bandwidth. The school-bus sized satellite runs off of 14 solar panels and sits perched at a longitude of 95 degrees east. Hughes packages this GEO (Geostationary Earth Orbit) with its managed LEO (Low Earth Orbit) service to provide connectivity without the end client or user having to manage the connections, coordinate, or even be aware of what satellite or network is providing the connectivity. This has allowed Hughes to deploy solutions such as its OneWeb in-flight satellite internet service for aircraft.

Hughes insists that its solutions are not just for the jet-set or big businesses. Locally, Hughes has been deploying its advanced technology in places like Colombia’s remote La Guajira peninsula, rural Huila and 12 other Colombian departments, connecting 12,510 previously isolated households. Rural schools, agriculture, and small, remote communities are all able to benefit from Hughes’ modern satellite technology.

Hughes country manager for Colombia, Roque Lombardo was kind enough to take time out from his dealmaking at ANDICOM to speak with Loren Moss, executive editor of Finance Colombia, and himself a veteran of the early commercial satellite business, to talk about how Hughes is making the latest space technology like Jupiter 3 relevant and accessible for even a grade-school student in Colombia’s La Guajira desert or Chocó rainforest.

Finance Colombia: I’m here with Roque Lombardo, who is the country manager for Hughes Satellite here in Colombia. Thank you very much for your time. It’s an honor to be here talking with you. How’s it going here at ANDICOM?

Roque Lombardo: Well. We have been participating for several years now, truly with great success. I’d say it is the largest telecommunications and technology fair in Latin America, except for some events in Mexico. So, luckily, we are doing very well.

Finance Colombia: Excellent. I want to start by congratulating Hughes because one thing I have seen is that, year after year, you have a long-term commitment here in Colombia. Aside from all the technology that Hughes has developed throughout its history, from World War II, when you made aircraft, to now as a satellite company, you are committed to connecting not only Medellín and Bogotá and Cartagena here, but also rural areas of Colombia. Explain to me how you are applying your technology to bridge that gap.

Roque Lombardo: Satellite technology is, generally speaking, a long-term investment. Since you mention long-term commitment, obviously, there is a long-term commitment, but the business is very long-term because the satellites we launch have a useful life of 20, 25, or 30 years. So any business we can do in satellite connectivity is long-term.

This provides two things: it guarantees sustainability and regional coverage. From there, I would say that satellite communications are basically focused on rural connectivity, or are focused on rural connectivity and backup services; fundamentally, it’s those two. Our strength is in rural areas, but you can also see, even though we don’t compete with fiber optics, you can see our VSAT terminals in urban areas, like I don’t know, at a gas station. What is one of our VSAT terminals doing at a gas station in an urban area? It is a backup service because they cannot be left without communication. When the radio link or fiber optics connection fails, the backup service kicks in.

Now, to answer your question more specifically, there are two things I consider to reduce the digital divide. The first consideration is, obviously, that we are all very committed to reducing the digital divide, especially in the southern hemisphere. I am not talking only about Colombia, but on a global level.

And from there, we need to have a certain level of connectivity, but we also need to have content. Because many advocates for reducing the digital divide say that we have reduced the digital divide if, and only if, we have connected a school to a satellite station. But if you don’t feed that school with relevant content from a satellite station, it’s useless. You know? In other words, a connection alone is one thing, but a connection with relevant content so that people can educate themselves, engage in e-commerce, communicate, carry out e-government procedures, and so on, is another thing entirely.

So, from there, satellite connectivity is very useful, and we are working in that direction to increase connectivity. Because even narrowing the gap is sometimes a fallacy, because there are always more places to connect. In other words, the number of places to connect is growing, and the speed of coverage should grow at the same rate as the need for internet service, right?

Finance Colombia: Yes, it’s quite shocking. I’ve visited parts of Colombia: La Guajira, not far from here, Chocó, in the south, like the Amazon and Vaupés, and those areas where there’s no cell phone service, let alone internet access or anything like that. But I think you have technologies that allow cell phone operators to, like, they don’t have to run fiber optics,  they can install connectivity in remote areas like Leticia, or in Antioquia. There are areas where the only access is by river.

Roque Lombardo: 30 kilometers away from here, there are areas without coverage. We are in Cartagena, and 30 kilometers away, there are areas without coverage. That is another service we are providing called cellular backhaul, which connects cell phones through satellite stations. Why? Because, in a way, it is not profitable for cell phone operators to go to a very isolated location with fiber optics or a radio link. So, since they don’t go there with that, they can do it through a satellite link and achieve 4G or 5G cellular coverage in remote areas.

Finance Colombia: One thing that fascinates me is technological advancement. I’m old enough to remember when people had satellites like C-band antennas in their yards.

Roque Lombardo: 180 cm tall.

Finance Colombia: When you changed the channel, that satellite would move from one game to another.

Roque Lombardo: I am that old as well.

Finance Colombia: And I remember that in the nineties, I had a company that provided services for those things.

Roque Lombardo: C-band.

Finance Colombia: Right, yes. And up north, when it’s cold, the lubricant freezes.

Roque Lombardo: And the antenna wouldn’t move.

We have approximately 10,000 schools connected in Colombia, and we have between 15,000 and 17,000 homes connected – Roque Lombardo

Finance Colombia: It was a money-maker for us, because they called us so they could watch the game, and it was just a matter of cleaning the arm that moves it. But what killed that was the Ku-band. And then the dish satellites arrived, which already had the small things, and changed the industry completely. Now, twenty years later, for example, you have antennas that are like small laptops. The connection and installation are much easier. Before, a technician had compasses and weird things.

Roque Lombardo: Elevation and azimuth.

Finance Colombia: It looked like voodoo, installing that for the consumer. So my question is… You guys are still at the forefront. How do you see and what is your strategy with the advancement of systems, which they say are disruptive, but we already have Low Earth Orbit, which has like satellite constellations? You guys already have it; you’ve been setting the pace with every piece of technology. How is that changing the market, and what is your strategy in response to that?

Roque Lombardo: Yes, let’s see, what changes the market dramatically is the reduction in hardware and service costs, beyond the technology itself. I mean, it can be GEO, or LEO in this case; either one. Now, GEO technology has a specific coverage area, and LEO technology, due to the characteristics of the networks, has global coverage.

What does LEO allow for? It allows you to have connectivity everywhere, absolutely everywhere. GEO has very significant coverage, with extremely high capacity, but in perfectly defined areas, right? So, I believe that fixed Internet connectivity is becoming more democratic, but two paths are also opening up: the residential path, B2C, and the business path, B2B. In the residential sector, with low orbit or stationary GEO, needs can be met without any problem. In the business sector, you have two solutions: a LEO solution, a GEO solution, or a mixed solution.

Finance Colombia: Yes.

Roque Lombardo: In general, the best solutions are mixed ones, in which the provider analyzes your needs and gives you the best solution for each of those needs. There is no single GEO solution or single LEO solution.

Finance Colombia:  Something you guys have is a featured product that provides services to airlines.

Roque Lombardo: Yes, that is LEO.

Finance Colombia: That is LEO, okay. And aside from that, your customers obviously include broadcasters, traditional media outlets that always send their signals that way, and one of your first commercial customers. Apart from that, obviously, cell phone operators, but… there’s something in Colombia and many countries here in Latin America, as well as in Canada and Alaska, there are businesses that are located in very isolated places. And I don’t know if there’s much coverage so far north, but my question is, aside from those traditional clients who have known you for decades, what are the companies, I imagine like we have many readers from the mining and oil sectors, what are the sectors where you see the most growth, where perhaps you have solutions for those industries?

Roque Lombardo: There is a need in all industry verticals. Banking, finance, oil and gas, mining, agriculture and livestock; because in addition to everything we’ve already talked about in these few minutes, you have what is called IoT, which is the famous Internet of Things, with 5G technologies in which everyone can set up their own virtual private network, and from there have all their connectivity needs covered. That demand is infinite, because I’m talking about wanting to connect a television camera, wanting to connect my refrigerator, wanting to connect a drone, wanting to connect a moisture detector to measure agricultural moisture, or wanting to connect livestock to see how it is evolving and to monitor it.

Finance Colombia: The water levels.

Roque Lombardo: Water levels, I mean, the applications are endless. That’s why I say that demand is growing all the time, and all the solutions that are appearing in any type of orbit are going to be necessary to meet all that demand.

Finance Colombia: That’s right. Well, I remember that, I don’t think it was last year, but two years ago, you guys were celebrating, and you invited us to celebrate with you the launch of a satellite. I don’t remember if it was Jupiter 3, off the top of my head.

 Roque Lombardo: Jupiter 3.

Finance Colombia: Is there something we haven’t mentioned that you want to mention, or a question I didn’t ask you, or some successes since then?

Roque Lombardo: No, basically, we have continued to grow. We have approximately 10,000 schools connected in Colombia, and we have between 15,000 and 17,000 homes connected. We have many deals with large companies, and we have cellular backhaul, as I mentioned before. And we are marketing, let’s say, if we’re talking about basic services, we are marketing everything that Hughes offers with geostationary orbit satellites and OneWeb’s service with low orbit satellites, with full coverage.

Finance Colombia: And if there are businesses or school districts that want to learn more, is there a specific section of the website or a contact? What steps can be taken?

Roque Lombardo: Yes, at Hughes.com, you can find all the information there. It’s a very user-friendly site with instructional videos, product lines, services, and more. It’s at Hughes.com.

Finance Colombia: Okay, thank you very much for your time.

Roque Lombardo: Great, thank you.

Finance Colombia: Okay.