Hallador Energy Company

Good day, and welcome to the Halidor Energy Company second quarter 2021 earnings call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. Please note, this event is being recorded. And I'd like to turn the conference over to Becky Palumbo of Investor Relations. Please go ahead.

Thank you, Jason. And thank you everyone for taking the time to join us today. Yesterday afternoon, we filed our second quarter form 10 Q and issued a press release containing certain financial metrics. Both documents are posted on our website. Today we will discuss financial results and our perspective on market conditions and outlook. Following the prepared remarks, we will open up the call to your questions. As a reminder, Some of our remarks today may include forward-looking statements that are subject to a variety of risks, uncertainties, and assumptions contained in our filings from time to time with the SEC. While these forward-looking statements are based on information currently available to us, if one or more of these risks or uncertainties materialize, or if our underlying assumptions prove incorrect, actual results may vary materially from those we projected or expected. In providing these remarks, we have no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise required by law to do so. With us today are Brent Bildland, our President and CEO, and Larry Martin, our CFO. And with the required preliminaries out of the way, Larry can begin the financial overview. Larry?

Thank you, Becky, and good afternoon, everyone. I'm going to go over the review of our operating results. And before I do, I want to get a couple definitions out of the way. We define free cash flow as net income plus deferred income taxes, depreciation, depletion, and amortization, accretion on our reclamation obligation, changes in fair value of hedges, and stock compensation, less maintenance capex and the effects of our equity method investments. We define adjusted EBITDA as earnings before income taxes, depreciation, amortization, and interest, plus stock compensation, our accretion on reclamation obligations, and change in fair value of hedges, less the effects of our equity method investments and hourglass SANS. Our net loss for the quarter was $3 million, or 10 cents a share. and net loss for the year to date is 4 million or 13 cents a share. We had free cash flow of 6.4 million for the quarter and 11.8 million year to date. Our adjusted EBITDA was 11.3 million for the second quarter, 22.7 million for the six months ended. We decreased our bank debt by 5.9 million for the quarter and by 7.6 million for the year. Our bank debt at June 30th was $130.1 million. Our net debt was $127.5 million. And our debt-to-EBITDA leverage ratio was 2.76 times. I will now turn the call over to Brent Billson to talk about our operating results and the rest of the year. Thank you.