B2Gold Corp.

Standing by, this is the conference operator. Welcome to the Gold Corporation's first quarter 2025 financial results conference call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity for analysts to ask questions. To join the question queue, you may press star then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star then zero. I would now like to turn the conference over to Clive Johnson, President and CEO of G2 Gold. Please go ahead.

Welcome, everyone. Today, we're here to talk primarily about the first quarter results. Today, we're going to talk a little bit about the goose construction update, the touch of what we're going to do. We're going to talk a little bit about some of the other developments, the catalysts going forward for those. Basically, the first quarter, as everyone was aware, we had a difficult 2024, really primarily based on FACOA having to re-guide for close production. Obviously, it was a little bit of a stop-race issue with the closet issues, so we pushed some of the veteran production into this year. So that's the first time we've had to re-guide. Actually, we have some eight years in the road of re-guiding, so obviously, we're just going to have to do that. We need protection. We covered it. to have a good 2025 and just started off with a good quarter with all the lights performing as well. I think it was worth pointing out that Foucault was the one that had issues with operations the other two lights. As Maggie goes, Foucault did well. And the pair guidance was the guidance for most of the lights. And this was really about Foucault, which is we're going to hear more of a lot of good results We've just received some positives of the value from the government moving to the, because of the MOU that we signed this entire last year, that Matt will speak to us. We're going to talk a little bit about catalysts going forward this year, just a number of them. Obviously, the biggest one is the completion of construction, and that's sort of action after this project. But also, FACOLA, a priority there, as we've heard much yesterday from the government, to promote the idea there is to continue to work with the government to get the purpose Goose, that's brilliant. We're going to continue with the update. And if you want us to continue to meet with Sheryl, we'll see what comes out of those deals down the road. If anybody needs assistance in construction, on how to operate a lot of all those things that we've read, we're open to the possibilities for them and some of these deals will be there soon too. So I think that's primarily what I think we want to do. One additional point. We've had a lot of questions about M&A as Sheryl was saying, So if you were to add all that up, the use of those kind of 20,000 ounces of annual production would go straight, potentially, giving us a brainstorming profile. But in the United States, if I reflect, I don't think the production should happen right now, according to 50 or so writing analysts. But the other big thing is, I'm not sure if the volume or growth rate. So these are my information. We're going to be open for questions after we hear from, you know, the bank, you know, the value of those on the line, anyone else who's here with those on the line, who's used to running the construction project, that's a good start. So we're very happy with the quarter. We're happy with the operation. value.

So, Blake, what do you think? Thanks, Clive. Financially, it was a strong quarter. After adjusting for one-time items, the company generated the $0.90 per share of adjusted earnings. In that, we benefited, obviously, from the strong average goal price. Basically, I used to share with $0.04 per share, and they included non-cash market-to-market adjustments for the goods. Gold screen that we inherited and bought from BNF, and also from the zero-cost college that we put in place at the end of last year in conjunction with Renew and our revolver. Operating cash flow before working capital adjustments for the quarter was $244 million. Another strong result, and I think it again highlights the cash generation potential of our operating assets in this strong gold price environment. And on the CapEx price spending, it includes Construction line development activities spent $136 million during the first quarter of 2025. I would comment, you know, in late 2024 and early 2025, we accelerated approximately $60 million in plant and equipment purchases, including deposits and some longer lead items that were pulled forward from second half of 2025 or subsequent years. So, factories in the season, they were kind of excluding them from the total. Good cash expenditures, the first goal for remains, and rise of budgets. Balance sheet-wise, we continue to remain in a strong financial position, cash-to-cash equivalent of $330 million at the end of the first quarter. And during the quarter, I think as we discussed in the last bill, we repaid the outstanding balance in our revolving credit facility, the proceeds of the convertible house that we issued in January 25. And at the end of the quarter, we had $800 million of full capacity unrun on our revolving credit facility. There was a good amount of financial flexibility to be able to complete the goose construction very shortly, to fully repay the obligation that the gold prepays, as he's delivering to them over the course of a year from July 25 to June 26, and to complete all their trading and growth initiatives across the portfolio, and to continue to fund their very healthy exploration programs, which will hopefully expand my life. That's the financial. I guess the key points and with that I'll turn the call over to Bill for an operational project update.