Coeur Mining, Inc.

Good morning and welcome to the first quarter 2021 financial results conference call for core mining. 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. To ask a question, you may press star one, star then one on your touch tone phone. To withdraw from the question queue, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Paul Departu, Director of Investor Relations. Please go ahead.

Thank you and good morning. Welcome to Core Mining's first quarter earnings conference call. Our results were released after yesterday's market closed and a copy of the press release and slides are available on our website. I would like to remind everyone that our press release slides and some of our comments today include forward-looking statements from which actual results may differ. Please review the cautionary statements included in our press release and presentation, as well as the risk factors described in our first quarter 10Q and 2020 10K. Now, I'll turn it over to Mitch, Mick, and Tom.

Thanks, Paul, and good morning, everyone. As we said in our release yesterday, our first quarter results were in line with our expectations and represent a strong start to the year. We're feeling confident in our ability to accomplish our key objectives and achieve full-year guidance at each of our sites. Turning to slide three of today's presentation and looking at the highlights for the quarter, solid production and higher realized prices help drive margin expansion, leading to significant double-digit year-over-year improvements in revenue, OCF pre-working capital, and adjusted EBITDA. These results were supported by the overall performance of our portfolio, particularly for gold. With over 85,000 ounces of gold produced and the first quarter expected to be our weakest of the year, we're feeling good about being a quarter of the way toward the midpoint of our full year production guidance, which is ahead of the 22% we indicated earlier this year. Additionally, overall cost performance has been well managed. All of our site level unit costs for gold ended the quarter either below or within their full year guidance ranges. We also achieved some important strategic milestones during the first quarter. The most noteworthy was the successful refinancing of our senior notes, which Tom will cover in more detail. We're extremely pleased with the outcome and how well positioned this leaves us for the future. The catalyst for this refinancing was really to shore up our balance sheet as we continue executing major construction at Rochester, which kicked off earlier this year. The project was approximately 20% complete at the end of the first quarter, with detailed design substantially finished and almost all the equipment procurement and service packages committed. If you turn to slide seven and eight, you can see a more comprehensive breakdown of the project timeline as well as the progress we're making on the new 300 million ton leach pad. Importantly, this company transforming project remains on schedule to be largely completed by late next year. Turning to slide 10, I'd be remiss not to mention exploration. Building on the strong double digit reserve growth in 2020, we decided to further bolster our efforts and plan to spend just under $70 million on exploration this year. Notably, we invested roughly $15 million in the first quarter, which is almost as much as we spent during all of 2015. We drilled nearly 40% more feet quarter over quarter as key programs at Silvertip and Crown ramped up while drilling campaigns continued to advance across the rest of our portfolio. Although it's still early, we're seeing encouraging results that continue to validate our ongoing commitment to this higher level of exploration investment and the high heroic it generates. With such an important program underway, we plan to provide some additional updates on our progress throughout the year, including one in a few weeks that will focus on Silver Tip and Crown. Before passing the call to Mick, I want to briefly mention our responsibility report that was published yesterday. We pride ourselves on being an ESG leader and the report does a fantastic job showcasing our commitment to transparently disclosing our ESG-related goals and accomplishments, including our initial target to reduce net greenhouse gas intensity by 25% over the next five years. With that, I will now turn the call over to Mick. Thanks, Mitch.