A mid-tier gold producer with potential for growth. We have a very good track record of profitability and robust dividend payouts. We've been paying dividend for more than 20 years. We're an old company, new in the TSX, but we've been in the Colombia Stock Exchange for over 50 years. We have a diversified asset base in Latin America, and we have some growth opportunities. We have a project in Nicaragua called the Porvenir Project, and we're looking for opportunities to invest to grow inorganically. We have a strong license to operate. A few years ago, we realized that when we go into our region, we're not asked what we do; we're asked, "Why are you here?" So we decided we needed to answer, "We're here for the well-being of everybody," and we live by it.
We know that we generate environmental, social, and economic costs, but we have to prove to the region that we generate environmental, social, and economic values that greatly compensate for the costs. We're cheap. I'm not going to stop here. Everybody says they're cheap. I can't give you information on the third quarter because we're having our conference on the 15th, but we finished the first half of the year with $27 million in cash, almost no net debt, and our EBITDA is about $180 million per year, and our market cap is about $300. So our market cap is less than two times EBITDA. We have paid dividends for over 20 years, and we plan to carry on doing so. We bought an operation in Nicaragua, and we paid for it, but still we managed to pay for it and carry on paying dividends.
Our assets are located in Colombia, Nicaragua, and we have a 20% market share in a greenfield project in Chile called La Pepa. Our two production assets have done like this this year. In Colombia, we have produced close to 40,000 ounces, a little below our guidance because we have a formalization program in place, and three of the dredgers left our program because there was not enough incentive to be formalized. It's always less profitable to be informal, and if the government doesn't push, they leave. We're trying to replace them with three more, but our own operation is doing okay, meeting the guidance. In Nicaragua, we're meeting the guidance. We produce 65,000 ounces of gold. Nicaragua is also unusual. In Colombia, we have alluvial. In Nicaragua, we have toll mining from artisanal miners. I'll go into more details on that.
Our guidance for this year is between 209 to 229. I think we're going to meet the consolidated guidance, but we're not going to meet the one in Colombia. It's going to be a little below that, and Nicaragua is going to be on the higher part of it. Our costs are a little bit higher than our guidance for two reasons. One is that we buy the artisanal ore from artisanal miners in Nicaragua at a percentage of the spot price, and the prices have gone up a lot, so the costs go up a lot, but the marginal benefit is great. And in Colombia, we have had a revaluation. The peso at some point was COP 5,000 per dollar and currently is COP 4,300. So that has had some impact in our costs in Colombia. Nothing we cannot manage.
Our all-in sustaining cost is still competitive at between $1,400 and $1,500 per ounce. In Nechí, as I said, we have an alluvial operation. We are aware that alluvial operation raises two questions. One, how predictable it is, and two, how environmentally safe it is. We're really predictable because we operate this mine as an open pit. We drill holes every 50-100 meters, characterize the alluvial bed, build a mining model, and we know where our treasures are going to be in the next 10 years. We have 10 years, a little bit more than 10 years in reserves right now. In terms of how environmentally safe the operation is, we operate separated from the river in closed ponds that get filled because of phreatic level and rain. So we don't add any sediments to the river. We use only water to do the separation.
We use electric power that we generate in our own hydroelectric power facility, so we have very low carbon footprint, and as our dredgers move north, we undertake the closure of the mine. I have three short videos that I'm going to show how we operate in Colombia, how we operate in Nicaragua, and our environmental responsibilities, so the first one is this on Colombia. It's one and a half minutes. No voice. This is the Nechí River and the alluvial ponds. This is our headquarters in El Bagre. We bring people by boat 50 km. This is the pond, and this is one of the artisanal dredgers formalized. Those are our own dredgers. They're old dredgers from the '50s that we have upgraded, and now they're controlled by GPS. That's one pilot, and in the dredgers, we do the separation.
We take out with suction dredgers the first 10 meters, set them aside. We do the separation in the dredge, in the bucket dredge, using only water, as you can see here, and we end up with rich sands that we fly by helicopter to our lab. Those are the buckets for the rich sands, and those are the dredgers, and that's the helicopter being loaded with the buckets, which we fly to the lab and do the final separation there. You can see the helicopter taking off, the rich sands being separated in the lab, the gold coming out, being smelted, and the doré bars that look great because it's mostly gold. It's a massive operation. We move more than 30 million cubic meters per year to produce 80,000 ounces of gold, but it's free gold, very clean, very predictable. More than 90% recovery of our estimate.
Okay, let's move on to Nicaragua. Also unusual. In Nicaragua, by law, we have to allow artisanal miners to work in 5% of our, at least 1% of our land package. That's impossible to control. So we decided to make an opportunity of it instead of a drag. So we have them organized in co-ops. They pay taxes. We have a life and accident insurance in place, and they provide 50% of the ore we process, which comes up to 70% of the doré we produce because they follow the veins. So we have two mines, our own mines, Panama and Pioneer, and we buy mineral from our artisanal miners, and a lot of the investment we've made is to generate trust with them. We do the sampling using an automated system, no human intervention, and we do the assays with them witnessing through windows and through cameras.
It's a win-win business because artisanal mills will have a 60% recovery, and they will split it with the miner, so they will get 30% of the gold content. With us, they get 45%. So we make money, and they make money as well, and the region gets the benefits, and the mercury use is prevented. I also have a video of that. So these are the two mines that we operate, Panama and Pioneer. They're fully mechanized mines, and they give 50% of the mineral we process at a little bit above 4% grade, 4 grams per ton grades. We have two small hydroelectric power plants as well. That's the sampling done for the artisanal miners, and those are the artisanal miners checking on the sampling. Those are the piles. If they are okay with the gold content we give them, they leave the mineral.
If they're not okay, they leave with their mineral and process it somewhere else, and the doré bars of Nicaragua don't look as nice because they have more silver, but still it's a profitable operation. Okay? That's Nicaragua. For growth, what do we have? We have a Porvenir Project. It's a project that will add 60,000 ounces of gold to Nicaragua, bringing it up to 200, and bringing our own mineral to about 50% of the production in Nicaragua, so lowering our exposure to artisanal miners. We've done a pre-feasibility. It came out good, but not great. We're working on a feasibility to make it look great. With $1,650 per ounce, it had an NPV of 160 million with a 5% discount rate and 42 million with a 10% discount rate. What are we doing right now? It's a polymetallic deposit.
It has zinc, copper, some lead, and some gold, a lot of gold and silver, and we're working on the decision of maybe selling concentrates or selling some doré and some concentrate. We have a full-time metallurgist that I trust very much working on it, the one who helped us bring the recovery of Hemco above 92%, and I'm confident we will make this project look great. Until we do that, we're looking for inorganic opportunities. We're looking for opportunities between Yukon and Patagonia, not in Mexico, not in Argentina, but the rest of the region looks great for us. Let's talk about greenfield exploration. We still have 150,000 hectares in Nicaragua to explore, and we have some areas in Colombia to explore, which we are not exploring during this government because the government is not very much pro-mining, but we only have two more years to go.
These are the assets we're looking into. I'm going to show you what we do in terms of environmental responsibility, so we operate in areas with high biodiversity. Those are the lands after we close the mine. We recover the lands for agriculture, cattle farming. We plant a lot of native trees, but also rubber plantations, cocoa. This is really interesting because we have epiphytes, orchids, so we move them to an area where we keep them safe and then replant them. We have replanted more than 25,000 of those. This is for animals in the region. They get scared away of where we're going to operate, but if they remain there, they're brought to this place, assessed, taken care of, and released from the bush to the wild, and we also have a beekeeping program, which is very interesting, and a cocoa plantation in Nicaragua.
So we spend a lot in making sure that what we say, that the region is going to be left in better shape, it's a reality. That's our landfill to take care of our residues in a responsible way. We're trying to convince the Bonanza municipality to do the same. We also have some temporary refuge for endangered species in Nicaragua. So that's Mineros S.A. at a glimpse. We are listed in Colombia, listed in the Toronto Stock Exchange, not very high liquidity, and that has hurt our price, but we hope that if we can incorporate another geography and another operation, things will change, and they have been changing during the last year. We have had some appreciation, and we have doubled our liquidity in Toronto.
Our biggest shareholder is Sun Valley, then a family office, then Corporación Financiera Colombiana, which is Grupo Aval, one of the largest financial groups in Colombia, and more than 8,000 shareholders in Colombia and Toronto. I believe that's it. Right in time.