Gold Resource Corporation

Good morning and welcome to the Q1 2023 earnings call. At this time, all lines are in listen-only mode. Following management's presentation, there will be a question and answer session. Instructions will be provided at that time for you to queue up for questions. If anyone has any difficulties here in the conference, please press star followed by zero for operator assistance at any time. I would like to remind everyone that this conference call is being recorded today, April 26, 2023, at 10 a.m. Mountain Time. I will now turn the conference over to Kim Perry, Gold Resource Corporation Chief Financial Officer. Ms. Perry, you may proceed.

Thank you, Joelle, and good morning to everyone. On behalf of the Gold Resource team, I would like to welcome you to our conference call covering our first quarter 2023 results. Before we begin the call, There are a couple of housekeeping matters I would like to address. Please note that certain statements to be made today are forward-looking in nature and as such are subject to numerous risks and uncertainties as described in our 2022 annual report on Form 10-K and other SEC filings. Please note all amounts referenced during the presentation are U.S. dollars and thus otherwise stated. Joining me on the call today is Alan Palmier, our President and CEO, and Alberto Reyes, our Chief Operating Officer. Following Alan, Alberto, and my prepared remarks, we will be available to answer questions. This conference call is being webcast. For those of you joining us on the webcast, you can download a PDF copy of the conference call slides. The event will also be available for replay on our website later today. Yesterday's news release issued following the close of the market and the accompanying form 10Q have been filed with the SEC on EDGAR and are also available on our website at www.goldresourcecorp.com. I will now turn the call over to Alan.

Thank you, Kim, and good morning, everyone. I'd like to thank all of the listeners for taking the time to join us on this call. We faced several challenges in the first quarter, which we had anticipated. However, we're pleased with the results today. While our production is down year over year, our metal production in Q1 2023 has remained strong due to higher grades continuing on from the fourth quarter of 2022. In the past five months, we replaced the entire management team at the Don David Gold Mine with experienced professionals whose focus on safety and operational efficiencies align well with our expectations and standards. We're very optimistic that the new management team will be able to affect significant changes in safety and operational standards and productivity. As most of you may be aware, there has been tabled a proposed reform to the Mexican mining law. Our initial review of the proposed legislation would suggest that while it is manageable, it will place increased pressures on all mining companies. and make it more challenging to operate within Mexico. Now, please turn to slide four and I'll provide a brief update on our first quarter exploration results. Exploration efforts to date include four exploration drill holes totaling more than 2,500 meters and 26 infill drill holes totaling nearly 5,000 meters. This has allowed us to get a better understanding of the structures that control mineralization and the excellent potential at DDGM. After the promising fourth quarter exploration results, we continue to focus on the Three Sisters, Morena near the Arista Zone, and South Soledad and Sagrario on the southeast portion of the Switchback Zone. While it takes time to develop a resource from initial drilling, we're excited about the future. The new geological team is taking a disciplined approach to interpretation and target identification, which we believe will pay dividends in the future. It's our objective to increase our resources and reserves this year through our exploration and infill drilling programs. I'll now turn the call over to Alberto for an update on the operations.