Yancoal Australia Ltd

Good day and thank you for standing by. Welcome to Yang Cole First Quarter 2025 Production Report. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to pan the conference over to your first speaker today, Brendan Fitzpatrick, Investor Relations Manager. Please go ahead.

Thank you, Maggie, and thank you to everyone on the call for joining this briefing on Yan Cole's first quarter production report for 2025. We have several members of Yan Cole's executive leadership team to recap the quarter and participate in the question and answer session. On the call today we have Misty Wei, our Co-Vice Chairman and Acting CEO, Kevin Su, Chief Financial Officer, David Bennett, EGM Operations, Mark Salem, EGM Marketing, Laura Zhang, Company Secretary, Mike Wells, EGM Finance, Mark Jacobs, EGM Environment and External Affairs, and Sheriff Burra, EGM Health, Safety and Sustainability. The commentary provided today is based on the quarterly production report published to the Australian Securities Exchange and the Stock Exchange of Hong Kong on the 17th of April. Normally we host this call the day after the release of the production report. but this quarter we elected to wait until after the public holiday weekends here in Australia. There is no presentation pack for this conference call. The YANCO website holds past presentations for any participants who require additional information on the company. I'll hand over to our CFO, Kevin Hsu, to provide the first quarter highlights.

Thanks, Brendan. I also welcome everyone joining us on this conference call. especially anyone here, for the first time following our inclusion in ASF 200 index six months ago. We had a strong first quarter with ROM code and attributable cellular code volumes above targets. This is a contrast to the past two years, which started slower and increased throughout the year. After the first three months, we are well positioned to deliver a strong operational performance in 2025. During the quarter, we mined 15.2 million tons of raw coal, which is 11% more than the first quarter last year. And we delivered about 5 million tons of attributable sellable coal, which is 80% more than the first quarter last year. The full-year production and the cash cost guidance we issued in February is unchanged. We are targeting 35 to 39 million tons of attributable saleable production at a cash operating cost of $89 to $97 per ton this year. As with past quarters, we don't include cash operating costs in the quarterly reports, but I can say we remain comfortable with the full year guidance. Although toll prices have trended lower, we were able to add $136 million to our cash balance after all operating capital expenditure, tax, and corporate overheads. We finished the quarter with a cash balance of $2.6 billion. However, I should note That way we'll use $687 million to pay the 52 cents per share for the final dividend for 2024 on 30th April 2025. Yenco operates some of the lowest cost mines in Australia. These mines have delivered positive cash flows even during cyclical downturn in coal prices in recent years. We are in a strong financial system which leaves us well-placed to take advantage of opportunities that may present during the second presumption. I'll now hand over to David Bennett, our Executive General Manager Operations, to expand on the operational performance.