Aris Mining Corporation

Good morning, everyone, and welcome to ARIS Mining Q3 2024 Operational and Financial Results Call. We will begin with an overview for management, followed by a question and answer period. To join the question queue, you may press star then one on your telephone keypad. As a reminder, all participants are in listen-only mode, and the conference is being recorded. If you need assistance during the conference call, you may signal an operator by pressing star then zero. Please note that the accompanying presentation that management will refer to during today's call can be found in the events and presentation section of ARIS Mining website at aris-mining.com. Also, ARIS Mining's second quarter 2024 financials have been filed on Cedar Plus and EDGAR and can also be found on their website. I would now like to turn the conference over to Mr. Neil Woodyer, Chief Executive Officer. Please go ahead.

Thank you operator and hello everybody and thank you for joining our Q3 earnings call. Before we begin, please note the caution statements on slide 3 regarding forward-looking statements. On slide 3, I'll give an overview of our operational and financial highlights, after which Richard Thomas, our COO, will discuss our performance and our growth projects at Segovia and Marmarthen. And then Richard Orozetti, our CFO, will review the financial results. And Oliver will then update you on the funding and growth strategy. So looking at slide three, I'm pleased to report a strong third quarter. In Q3, we produced 53,600 ounces of gold, which is up 9% over Q2. Higher gold prices, increased production, and cost controls helped us achieve a 37% increase in all its sustaining margin in Segovia, reaching £44 million compared with £32 in Q2. For the 12 months ended September 30th, we generated an adjusted EBITDA of £147 million and adjusted net income of £43 million. In August, we announced Segovia high-grade exploration results, increasing our resources, and in October, we announced the replacement of our reserves. Segovia is operating at its 2,000 tonne per day design capacity, with expansion underway to 3,000 tonnes. Phase 1 of the expansion is completed and contract mining partners are now delivering to the facility. Phase 2 is on schedule to be finished later Q1 next year. At Mamato construction the load mine is on track and by the end of September the project had reached its 25% spend level milestone And on the 6th of November, we received $40 million cash installment from Wheaton for the project. Last month, we strengthened our cash position by refinancing our $300 million notes with a new five-year $450 million at 8% notes, extending the debt maturity to October 2029. We're well-funded to execute our growth strategy and to continue to target and annual gold production rate of approximately 500,000 ounces by the second half of 2026. And lastly, before I hand over, I just encourage you to read our 23 Sustainability Report, which was published in August and is available on our website. And now over to you, Richard. Thank you, Neil. Moving on to slide four. In the first nine months of this year, our mines produced 152,591 ounces of gold. Segalia contributed 106 ounces of gold, while Mamonte-Appermann produced 17,495 ounces of gold. At Segalia, we present 7% more material in the QG than we compared in Q2, with a flat integrity rate. For the full year 2024, Segalia produced on-track to produce between 185,000 and 195,000 ounces. If you go to slide five, please, I'd like to draw your attention to the graph on the top of the page. Our realized gold price increased by 6% in the quarter to $2,457 per ounce, while our early spending cost declined 2% to $1,530 per ounce, resulting in an early spending cost margin of $918 per ounce. Now, focusing on the lower half of the page, as I mentioned, the combination of higher gold prices, increased production, and effective cost control It's in all the same cross-margin active area, reaching $44.1 million, which is an increase compared to quarter two. It's also worth noting that despite the purchase, and that is because the high rate of north-east delivery to the off-target T&V resulted in an increase of from $1,790 in quarter two to $1,854 in quarter three due to the higher gold prices. This segment of our business maintains a strong sales margin of $4.9 million in Q3, up from $2.8 million in Q2. This could be used to start SIX. With the idea of processing plants, extension has to be as well a schedule and phase one is now complete, with a newly expanded recruiting area for our C&P fully commissioned and hand-released operations, and the new facility will be embedded in the material in October. Phase 2, which involves installing a second wall wall in the former contractor's receiving area, is underway and is scheduled for completion by Q1 next year. Following a length of period, we expect to reach approximately 2,000 tons per day in the second half of 2025. The total cost of the expansion is still estimated at $15 million, with $8 million being spent over 30% of this year. Concluding my remarks on slide 7, I was allowed to update you on the construction progress of my market lower mine. We commenced construction of the new Marmassa low-mine with two systems of geese, following this environmental service in July of this year. The low-mine was active right across the mineralisation and the low-beer mine, with both mines estimated to combine 152,000 ounces of gold per year over 20 years of mine life. As you can see from the picture on the slide, this is the slide to access the area and the portal site was completed in Q2 and the contractor commenced the deep sand development on October 8th. Both the SAGMO and the BOMO fabrication are progressing on schedule for completion of the furthering of this year. At the end of September, the estimated cost to complete the lower mine construction is $255 million, of which $132 million will be funded by the 15 student funders in this year. We received the first $40 million to finance the project, and on November 6th, further payments of $40 million and $42 million are expected to come receiving 50% and 75% of the construction, respectively, and this is expected to happen in 2021. With that, I'd like to hand over the call to our CFO, Richard Oriel-Yuki.

Thank you, Richard.