Largo Inc.

Good day and thank you for standing by. Welcome to Largo's fourth quarter and full year 2023 financial results conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. I would now like to hand the conference over to your speaker today, Alex Guthrie, Senior Manager of External Relations. Please go ahead.

Thank you, Operator, and thanks to all those who could attend our fourth quarter and full year 2023 Financial Results Conference Call. Our annual financial statements related MD&A and most recent AIF can be accessed on our website at LargoInc.com, as well as on CDAR Plus and EDGAR. Before continuing the call, I would like to remind you that some of the information you will hear during today's discussion will consist of forward-looking statements, including, without limitation, those regarding future business outlook. Please refer to the cautionary statements in the related MD&A consolidated financial statements and AIF, which can be found on our website within the investor relations resources section. And finally, all figures discussed today are in U.S. dollars unless otherwise stated. On the call today is Danielle Talatia, Largo's Interim Chief Executive Officer and Director, Ernest Cleave, Largo's CFO, Paul Vallon, Largo's Chief Commercial Officer and Francesco D'Alessio, the President of Largo Clean Energy. Following delivery of our prepared remarks, we'll open the call for questions. We ask that participants restrict their questions to two and then re-queue if there are additional questions to allow the others the opportunity to participate. I'll now turn the call over to Danielle.

Thank you, Alex, and thank you all for joining us today. as we discuss Largos' performance over the last past year. Despite facing a mix of accomplishments and challenges, we remain committed to ensuring the longevity and success of Largos well into the future. As we have pre-reported our results yesterday evening, I will stick to providing the important highlights before we open it up for questions from the audience. Our primary focus has been on enhancing operational efficiency at the Maracas mentioned mine to meet production and sales targets, particularly given the current depressed vanadium prices. Despite the industry-wide pressure, we have diligently worked to control what we can within Largo and believe that the that our lower cost profile position us better than others to weather these challenging times. Throughout the year, we encounter various hurdles such as delay in our infield drilling program, a traffic accident, a tragic accident at our mine facility, and technical setbacks with equipment commissioning due to engineering and design problems. However, we remain focused on enhancing operational efficiency at the Maracas Mention Mine, investing significantly in West Rock Restricting, a new crushing system, and refining our operational management practice and policies, resulting in notable improvements in the latter quarters of 2023, particularly in Q4. In Q4 2023, our B205 equivalent production saw a 38 increase compared to Q4 2022, with total oil mine and crash also experiencing substantial growth. Notably, we achieved record high purity vanadium production in Q4 2023, achieving a record production of 1,670 tons of high purity B2O5 equivalent, representing 60% of the company quarterly B2O5 output. Although our annual B2O5 production is slightly deep compared to the previous year, we remain our annual production guidance range. Also, 2023 marked several significant milestones for Largo. including the successful construction and commissioning of a new ilmenite concentration plant. We have seen a steady improvement in ilmenite concentrate production and quality over the last quarter, which will contribute to the diversification of our revenue stream beyond vanadium in the future. Our exploration programs surrounding the Maracanã Mention Mine have been common increasingly important part of our story over the last few quarters, and I'd like to spend a brief moment discussing some of the highlights. We are conducting exploration efforts in the areas surrounding the camp and field to both optimize current operations and plan for future developments and expansion through the identification and conversion of resources. Our ongoing program aims to expand our understanding of the mineralization surrounding the Camber Pit so that we may gauge the possibility of continued mineralization north and south of the pit. As part of this program, we have also identified significant PGM grades in non-magnetic tailing ponds. The major significance of this discovery is that the higher grades of PGMs could be associated with our non-magnetic material, rather than massive vanadium ore as previously thought. We plan to conduct further studies to evaluate the potential to recover PGMs as an additional byproduct of Largo vanadium and ilmenite operations, following the completion of our ilmenite concentration plant. Additionally, our clean energy division reached a significant milestone in 2023, following the delivery of our six-megawatt-hour BRFB to our clean energy partner, Enel Green Power in Spain. This installation represents the largest BRFB installed in Europe and has become a key catalyst in our recent announcement regarding striping energy and Largo Clean energy. I will let Francesco touch more on that later in the call. While the current Banarian market presents great challenges... Give me one second. great challenges to our financial performance. We remain focused on executing on our strategic initiatives, reducing costs, and meeting production and sales targets in the year ahead. We appreciate continued support as we navigate through these dynamic times and remain committed to creating long-term value for our shareholders. With that, I will turn the call over to Ernest to provide an overview of our financial performance in 2023.