Hallador Energy Company

Good afternoon and thank you for attending today's Halador Energy First Quarter 2022 Earnings Call. My name is Jason and I'll be the moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. If you'd like to ask a question, please press star one on your telephone keypad. I would now like to pass the conference over to our host, Rebecca Palumbo with Investor Relations.

Thank you, Jason. Everyone, we appreciate that you took the time to join us today. Yesterday afternoon, we released our first quarter 2022 financial and operating results on Form 10-Q, which is now posted on our website. On today's call, we have Brent Bilseland, our president and CEO, and Larry Martin, our CFO. After the prepared remarks, our management team will be available to answer your questions. Before we begin, please note that the discussion today may contain forward-looking statements that are statements related to future, not past events. In this context, forward-looking statements often address our expected future business and financial performance. 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 provide incorrect Actual results may vary differently from those we projected or expected. For example, our estimates of mining costs, future sales, legislation, and regulations. 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, as such may be required by law. For discussion of some of those risks and uncertainties that may affect our future results, You should see the risk factors described from time to time in the reports we file with the SEC. As a reminder, this conference call is being recorded. In addition, a live and archived webcast of this earnings call conference will also be available on HALADOR's website. We encourage you to ask questions during our Q&A. If you are on the webcast and would like to ask a question, you need to dial into the conference. That toll number is 1-844-Q00-6205, access code 643811. Now with the preliminaries out of the way, Larry, you can start.

Good afternoon, everyone, and thank you, Becky. So I'm going to review our operating results. Before I start, I'd like to define adjusted EBITDA. as operating cash flows plus current income tax expense, less the effects of certain subsidiaries and equity method investments, plus bank interest, less the effects of working capital changes, plus other amortization. Our net loss for the quarter was $10.1 million, or 33 cents a share. Our adjusted EBITDA was $2.6 million, and we borrowed an additional $8.3 million of bank debt. Our bank debt at 331 was 120.1 million. Our net debt was 115.8 million. And our debt to EBITDA leverage ratio was 3.03 times. I would like to now turn the call over to Brent Billson, our CEO, for his comments on the quarter.