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0:07 For sure. Thank you for having me again. This has been a really busy year for GRSilva. We have completed 16,000 meters or a little bit more of surface under the ground reading of the plomozas and some sites. This is really part of us to support the 2 resource estimates that we are going to make part of the maiden NI43-001 for the Plomoza Silver Project. We have also hired experienced senior staff, including VP of Exploration and a VP of Corporate Development to work together with the CEO, myself, and 25 geologists in Mexico to continue to grow the company, not only based on discoveries, but also resource expansion and evaluation of the 2 past producer mines that we now control 100%.
1:01 We have also completed 100% acquisition of the Trinidad and San Marcial projects, making GR Silver the first company ever in the history of the Rosario mining district to control the key Silver and Gold assets at resource expansion potential development stage.
1:24 We consider San Marcial, the last acquisition we announced last week, a key project where we have successfully expanded the resource from 23 million ounces of silver to 39 million ounces, indicated in the third. On a silver equivalent basis, we have 47 million ounces. And this is very important because it can be combined with the nearby Plomoza's project, which has a best producer mine. All together, it's part of a single trend, which now we refer as San Marcial and Plomoza's trend. And as I said before, the Plomoza's project that's very nearby, we are completing 2 resource estimates. So this will likely expand our resource with ounces of gold and silver materially in the short term.
2:11 The Trinidad project that we completed acquisition last March, It's very important as well because it surrounds the San Marcial-Promozo strand, not only providing the company unrestricted access to all targets, but also provide an extensive exploration database. And we have already defined 2 new trends, which we name as Trinidad and Matigra.
2:39 Important that we've been delivering everything you told the market and the investors you are going to do since you went public in 2018. The company has no debt or pending payments to control any assets. We control 100%. We have the ability with this 100% control to continue our expansion, expanding gold and silver resources. And we also control 2 past producer's mines with a lot of infrastructure, de-risking potential future development. For sure, it's important to say that when we acquired the Plomozo Silver project, we received a material data package with more than 100,000 meters of historic and recent drilling, a total of 563 drill holes.
3:25 A lot of data from 8 kilometers of underground development. But we realized that we also need to drill. So we drilled more 16,000 meters. We brought 5 drill rigs to the site, Palmoza's mine, Aire and San Juan. We drilled a lot. Putting all this together, integrating this, is a major work. So now what we are doing now, We are modeling all this data in 3D and we are completing 2 resource estimates to be integrated in the Made in 43-101 for this project, which I believe is a major milestone. It's a best producer mine, more than 30 years old. 3, 4 companies went there, did some work, but we are going to be the first company to work this massive data package and put more drill holes and do a 2 resource estimates and they made in 43-101.
4:13 What is the business plan of GL Silver? GL Silver has executed the business plan that we presented to the market when we went public on the TSX-V in 2018. The success of this company is based not only on the commitment of our team and allocation of the resource, but also on the continued ability to continue to expand the resources, discover more targets, drill more targets in areas that we control 100%. This provides the following major catalyst for the remainder of the year. Of course, in the next 50, 60 days, that's the end of the second quarter of 2021, the main resource for the Plamasos project, which has an area twice the size as strike length, probably, than the San Marcial resource that we have already.
5:06 In the second quarter as well, we have a lot of drill holes still at the lab that we are going to incorporate to the resource, but this is going to produce a lot of new slope. And we are about to complete the first ground geophysical survey at San Marcial, which is likely to generate new drill targets outside of the resource area at San Marcial. And probably the last catalyst here I would say that we are going to pursue more surface and underground drilling, particularly at San Marcial, to support another resource expansion before the end of the year. GR Silver has a track record of delivering value growth by delivering to investors what was promised at the beginning, to consolidate the district, to be the company controlling the key assets in the district.
6:00 We are fully committed to support the local community by providing a lot of employment and engaging community initiatives. And I would say most importantly, we focus, we concentrate on our effort on development with approximately 75% of our budget spent in the ground, exploring and developing expanded resources. You
