Gold Resource Corporation

Good afternoon, ladies and gentlemen, and welcome to the Gold Resource Year-End 2024 Earnings Call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press star 0 for the operator. This call is being recorded on Wednesday, April 9, 2025. I would now like to turn the conference over to Chet Halyok. Please go ahead.

Thank you, Ludi, and good morning to everyone. On behalf of the Gold Resource Team, I would like to welcome you to our conference call covering our year-end 2024 results. Before we begin the call, there are a couple 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 annual report on Form 10-K and other SEC filings. Please note all amounts referenced during this presentation are in U.S. dollars unless otherwise stated. Joining me on the call today is Alan Palmier, our President and CEO, and Alberto Reyes, our Chief Operating Officer. Following our prepared remarks, we will be available to answer questions. This conference call is being webcast and will be available for replay on our website later today. Yesterday's news release that was issued following the close of the market and the accompanying Form 10-K 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, Chuck, and good morning, everyone. I'd like to thank you all for joining our year-end conference call. I would like to address a few points first. And then Alberta will address operations followed by CHET addressing the financials. Following their remarks, I will then make a few closing comments and we will take questions. 2024, unfortunately, was a perfect storm for us. Back-to-back hurricanes, political road blockades, low-grade ore, extremely low equipment availability, and limited working paces all contributed to the poor performance. While difficult, it wasn't expected and we managed our cash position diligently. How did we get here? Three years ago, we realized that we were facing two significant challenges. Our equipment fleet was wearing out and productivity was suffering accordingly. And our reserves and resources had declined to the point where we couldn't justify the capital to upgrade the fleet. We decided to focus all available capital into exploration to increase the quality and quantity of reserves. Fortunately, we were successful and discovered a new system that we now call the Three Sisters. This new system is relatively close to surface and close to the mine entrance, which should result in lower mining costs. The higher grade and good width that are projected will permit efficient mining and produce good values. Going forward, how do we resolve the existing problems? The solution has a number of components. Low grade isn't something we can change, but the current results we are seeing from the Three Sisters system have significantly higher grades than the other areas of the mine. And since it is located higher in the geological column, contains higher levels of gold and, in particular, silver. which is projected to improve the grade issue that we have dealt with and continue to deal with. We are currently negotiating with a contractor to develop and produce from the Three Sisters. This will do two things. Ensure the productivity we need in terms of development and production in the Three Sisters and free up our team and equipment to do the necessary development and maintain the necessary production from the other two areas of the mine. Effectively, we would be accepting somewhat higher variable costs, which we expect will be offset by higher volume to mitigate risk and ensure we achieve our plans. We have identified and are currently negotiating the purchase of a mining fleet that, while used, was only operated for a couple of years and is in very good condition. This is projected to address our mechanical availability and allow us to improve our productivities. We are looking to secure a third filter for our tailings filter plant and thereby eliminate the constraint on no throughput. The additional filters projected to once again increase our daily production initially to 1,300 tons a day and thereafter to 1,500 tons a day. As close to 50% of our costs are fixed, increased volume will have a significant impact on profitability. To help us with these improvements, we are currently evaluating several sources of funding to enable the implementation and execution of our plan. This is what we plan to do to turn around performance. All of it is planned, all of it is controllable, and we are confident in our ability to execute. It will take time. We are planning on mobilizing the contractor in Q2, The new equipment is projected to be onsite and working in Q3. And our objective is to be cash positive again by the end of Q3. I will now turn the call over to Alberto for an update on the operations. Alberto?