Sandfire Resources Limited

Thank you for standing by and welcome to the Sandfire Resources March 2023 quarterly results. All participants are on a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Ben Crowley, Head of Investor Relations. Please go ahead.

Good morning, good afternoon everyone. Thank you for joining us today on the call to discuss our March 2023 quarter. It's my pleasure today to introduce for the first time Sandfly's new Managing Director and CEO, Mr. Brendan Harris. Also speaking on today's call will be Jason Grace, our Chief Operating Officer, and Matt Fitzgerald, our Chief Financial Officer. And also in the room for Q&A, we have Richard Holmes, Executive of Growth, and David Wilson, our Head of Technical Services. So without further ado, I will hand over to Brendan.

Thanks, Ben, and hello and good morning from here in Perth. My name is Brendan Harris, and I'd like to welcome you to our third quarter conference call, My First as CEO. As Ben said, I'm joined by Jason Grace, our Chief Operating Officer, and Matt Fitzgerald, our Chief Financial Officer. Before we dig more deeply into the results we provided today, I'd like to make particular mention of Jason. It's never easy leading in an acting capacity, and I'm sure you'd all agree he has done an exemplary job. Thanks, Jason. I'm really looking forward to achieving great things with you and the broader team. In my first four weeks, I'm pleased to say that I've been particularly impressed by the energy and enthusiasm of our people, the passion they have for sand fire and our industry. I've also had the opportunity to visit our Matza mining complex in Spain and was left with a very positive impression of the embedded potential that exists within both geology and our installed infrastructure. I'm obviously excited to be visiting Mateo in the second week of May, in no small part because Jason assures me copper concentrate will be on the ground. No pressure, Jason. Turning to the formalities of today's call, I'd like to remind you of the various disclaimers that accompany our quarterly materials and the notes we're provided to help better understand our disclosures. I should also note we're trying something a little different today, responding to your feedback. Ben Crowley tells us you'd like less time spent on introductory remarks and more time for Q&A. So we won't be doing a page turn. Rather, Jason, Matt and I will touch on the critical drivers of our business in around 15 minutes before turning to an extended Q&A discussion. We welcome all feedback following the call as we'd like to use these sessions to focus on your areas of interest. So why Sandfire and why now? Well, as a company, we've established a unique and solid foundation from which to grow. We're playing in the right place at the right time as the emerging global copper producer of significance. Of course, safety and broader risk management will always be at the core. And while I'm not one to celebrate safety outcomes, as we can ill afford to take our eye off the ball, it would be remiss of me not to mention the record low truth of 1.8 achieved in the quarter. From a broader risk management perspective, we cannot overstate the importance of the new agreements that have secured attractive, fixed-price, carbon-emissions-free power supply to MATSA. These agreements substantially reduce MAPS's exposure to the spot market, particularly from CY24. And Matt will talk to this shortly. From a production perspective, we've given greater prominence to copper equivalent metrics. While we will continue to provide all of the component parts so you can test and probe all aspects of performance, we feel it is important for us to communicate in a way that reflects how we think about value when making critical decisions running our polymetallic mines. Jason will provide a fulsome update on production shortly. So what's happening right now? Well, as I touched on earlier, we expect first concentrate at Matheo in the coming days in what will be an increasingly important milestone for our company. In parallel, we are fast-tracking the embedded low-cost expansion to 5.2 million tonnes per annum to deliver contained copper production of around 50,000 tonnes per annum from Matheo around the end of CY24. We're also excited about the recent discovery at San Pedro. I won't steal Jason's thunder, but I can confirm I was lucky enough to eyeball core samples from our latest step-out hole on my recent visit. With that, I'll hand over to Jason.