Centerra Gold Inc.

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Thank you, operator. Welcome to Sentara Gold's fourth quarter and full year 2021 results conference call. Summary slides are available on Sentara Gold's website to accompany each speaker's remarks. Today's call is open to all members of the investment community and media in listen-only mode. Following the formal remarks, the operator will give the instructions for asking a question, and then we will open the phone line to questions. Please note that all figures are in U.S. dollars unless otherwise noted. Joining me on the call today are Scott Perry, President and Chief Executive Officer, Darren Millman, Chief Financial Officer, Dan Desjardins, Chief Operating Officer, Dennis Kwong, Vice President Business Development and Exploration, and Malcolm Stallman, Vice President Exploration. I would like to caution everyone that certain statements made today may be forward-looking statements and as such are subject to known and unknown risks which may cause our actual results to differ from those expressed or implied. Also, certain measures we will discuss today are non-GAAP measures. Please refer to the description of non-GAAP measures in our news release and MD&A issued this morning. For a more detailed discussion of the material assumptions, risks, and uncertainties, please refer to our news release and MD&A, along with the audited financial statements and notes, and all of our other filings, which can be found on CDAR, EDGAR, and the company's website at SinterraGold.com. And now, I'll turn the call over to Scott.

Thanks, Toby, and a very good day to everyone. Thanks for joining us for our year-end earnings result conference call. As Toby mentioned, I'm just referencing the summary slides that are available on our website. So just starting off on slide number five, I just want to speak to some of the key bullet points here in the top left. 2021, it was another strong year in terms of the company-wide gold production profile. I can see for the full year we finished with some 308,000 ounces of gold output, which is at the very upper end of our guidance range. So a good level of performance from both of the respective operations. In terms of the third bullet point, just given that strong level of metal production, in terms of our corresponding oil and sustaining cost per ounce, I think it was a low competitive $649 per ounce. And again, I'll just highlight that that was favorably lower than our full-year guidance range. You can see in parentheses there just each of the all-in-sustaining cost results at both Mt. Milligan and Oxford. So I think underpinning a portfolio that is certainly a lower cost quartile. The strong metal price environment that we're seeing in gold and copper, as well as our low unitary costs, just in the fourth bullet point here, we had an excellent year. In terms of free cash flow generation, we generated some $178 million of positive free cash flow. And again, that was above the upper end of guidance, so a favorable result. With today's release, we've also reported our year-end reserve and resource update. And I think a couple of the key highlights here is we have replenished our production depletion at our offset operational gold mine. And then also in terms of our Mount Milligan operation, We have reported, in terms of our gold resources, we've reported an increase of some 1.4 million ounces. And in terms of our copper resource inventory, we've reported an increase of some 450 million pounds of copper. As we communicated previously, we are embarking on a new technical study at Mount Milligan, and we expect to be releasing that in the second quarter of this year. And one of the key objectives is to be upgrading a lot of this new resource into reserve category, which should underpin an extension in Mt. Milligan's indicative reserve life. And then just lastly, the last bullet point, as we announced on Tuesday morning, was the exciting acquisition of the Goldfield District Project in Nevada. And I will speak to this towards the end of this presentation. But again, an important development for Sentara that I think is going to underpin our organic growth profile here in the medium term. Just referencing the chart down the bottom, the chart in the bottom left is Mount Milligan. You can see the full year result there. Again, some $202 million in positive free cash flow, which is an excellent result. And then OXSERP, which is the middle chart, again the column on the far right, OXSERP in 2021 generated some $112 million of positive free cash flow. That also marked an important milestone at OXSERP. If you take the free cash flow that we generated in 2021, as well as the free cash flow that was generated in 2020, we have essentially paid back the entire upfront investment of some $200 million. So this has been a great experience for us and a real success. And again, just want to recognize the leadership team in terms of the results they've achieved there. Just moving on to slide six of the presentation, just in terms of some of the key corporate highlights. Starting off with safety first, it was a good year in terms of safety. OXIRT, during the year, achieved two million hours of lost-time incident-free operations. You can also then see that INDARCO achieved eight years, and now Thompson Creek Mine and Langlois Facility, they each achieved one year of continuous operations without a lost-time injury. Again, important milestones and indicative that we're on the right path in terms of our pursuit. our objective for zero-harm operations. So again, just want to commend the leadership teams across the organization. Just in terms of third bullet point, as we announced at the beginning of the year, we have been engaged in negotiations with the political leadership in Kyrgyzstan regarding the dispute of the Kumto mine and the illegal seizure of that operation. You know, generally speaking, the key aspect in terms of what we've been negotiating here in terms of resolving this is Sentera will be looking to relinquish its legal ownership of the operation to Kyrgyzstan. And in exchange, Kyrgyzstan will be looking to relinquish their 26% shareholding in Sentera. As and when that's relinquished, we'd then be looking to turn around and cancel those shares. In terms of the current progress, right now with our respective legal advisors, where we're working on negotiating what I would call the global settlement agreement. And as and when that negotiation is finalized, we'll be in a position to sign that and press release that accordingly. So it continues to progress, and hopefully we'll have more news on that forthcoming shortly. Just on the sixth bullet point, I just want to, again, just recognize Mount Milligan. Mount Milligan had a record year in 2021 in terms of mill throughput. It was the highest level of throughput that we've seen. in the history of the operation. And then you can see in terms of the free cash flow result, from $202 million, that was also a record year in terms of being the highest level of free cash flow that's been generated by the operation. Just on the eighth bullet point here, third last bullet point, again, I spoke to this earlier, but very low cost in terms of our oil and sustaining costs across the portfolio, very competitive, $649 per ounce. And then, as I mentioned earlier, you can see in parentheses, The portfolio is certainly one that's showcasing a first quartile cost structure. Second last bullet point, we are anticipating that a lot of this strong production momentum is going to carry into this year. We're guiding for up to 425,000 ounces of gold in terms of the midpoint of our guidance, and that makes for pretty compelling organic growth. Essentially, we're expecting up to a 40% increase in gold production this year over last year. And then in terms of the last bullet point here, that growing level of gold production as well as the sort of current metal price environment, we are expecting a corresponding increase in the level of free cash flow generation this year regarding for up to $250 million of positive free cash flow. So that's going to present well just in terms of the growth in our balance sheet and the underlying profitability within the business. Just moving on to slide seven, just in terms of our environmental social governance profile and just some of the key updates here. As I spoke to earlier, safety continues to be absolutely paramount and I touched on some of the good milestones that we achieved in 2021 that will continue to be an enduring focus here moving forward over the course of this year. Third and fourth bullet points, we continue to advance our various strategies and initiatives when it comes to climate change as well as diversity, equity, inclusion, and making good progress in that regard. And then just the sixth bullet point there, Sentera is a member of the World Gold Council, and we have signed up to the World Gold Council's Responsible Gold Mining Principles, and we're currently rolling these out and implementing these principles at each of our operating and project assets and making very good progress there and in very good stead to have achieved full compliance in the coming 12 months. With that, I'm now going to turn the call over to Dan Desjardins, who's our Chief Operating Officer, and Dan can expand a little bit more on the operating highlights. So, Dan, over to you, please.