Centerra Gold Inc.

Greetings and welcome to the Q4 and full year 2022 results conference call. During the presentation, all participants will be in a listen-only mode. Afterwards, we'll conduct a question and answer session. At that time, if you have a question, please press the one followed by the four on your telephone. If at any time during the conference you need to reach an operator, please press star zero. As a reminder, this conference is being recorded Friday, February 24th, 2023. I would now like to turn the conference over to Toby Caron. Treasurer and Director of Investor Relations. Please go ahead.

Thank you, operator. Welcome to Sinterra Gold's fourth quarter and full year 2022 results conference call. Please note that presentation slides are available on Sinterra 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 line to questions. Please note that all figures are in U.S. dollars unless otherwise noted. Joining me on the call today are Paul Wright, Interim President and Chief Executive Officer, Paul Chowron, Chief Operating Officer, and Darren Millman, Chief Financial Officer. I would like to caution everyone that certain statements made today may be forward-looking 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 of the measures we will discuss today are non-GAAP measures. Please refer to the description of non-GAAP measures in our news release in MD&A issued yesterday evening. For a more detailed discussion of material assumptions, risks, and uncertainties, please refer to our news release in MD&A, along with the audited financial statements and notes, and all of our other filings, which can be found on CDAR, EDGAR, and on the company's website at sedterragold.com. And now I'll turn the call over to Paul.

Thanks, Toby. Good morning, everyone, and thank you for joining our fourth quarter and full year 2022 conference call. I'd like to start the presentation by speaking to Sentara's short-term strategy as we continue to maintain our goal of establishing a stable and strong platform for future growth. This entails, firstly, obtaining all the regulatory approvals to restart operations at our Oxford mine, continuing to optimize operations and exploration at the Mount Milligan mine, Advancing the Goldfield project with initial resource estimate mid-year 2023, followed by a feasibility study. Updating our view on the Molybdenum Business Unit, which in the future will be described as MBU, including the issuance of a pre-feasibility study detailing a potential restart of the Thompson Creek mine, and this is to be delivered in Q3 of 2023. Moving on to slide five, firstly, an update on the Oxford mine. In January 2023, we received notices of approval for the operating license extension for a period of 10 years, as well as an enlarged grazing land permit allowing for the expansion of the mine areas. These two important approvals demonstrate the continued support for both the company and the Oxford mine. Also in January 2023, the amended EIA was submitted for regulatory review. This remains in process with government authorities now reviewing our technical studies to support our EIA amendment. The mercury abatement retrofit to the ADR plant is now complete, and following regulatory approvals which are underway, we will be positioned to process gold at the rate of 35,000 ounces per month. As of December 31st, 2022, There were 100,000 ounces of gold stored in carbon and 200,000 ounces recoverable in the inventory on the heat bleach pads and in stockpiles. Concerning the recent tragic earthquakes in Turkey, there were no injuries to our employees or contractors, unfortunately no damage to the infrastructure at the mine. I will speak more to this on the next slide. Moving on from Oxit, the company reported Q4 2022 in full year 2022 gold production of 53,000 ounces and 244,000 ounces respectively. There were 189,000 ounces of payable gold and 74 million pounds of copper produced by Mount Milligan in 2022 and 55,000 ounces of gold produced and sold by the Oxford Mine in Q1 2022 prior to the shutdown of operations on March 18, 2022. In January, We announced Mount Milligan's guidance for the year, which includes gold production of 160,000 to 170,000 ounces, copper production of 60 to 70 million pounds, gold production costs of $900 to $950 an ounce, and all in sustaining costs on a byproduct basis of $1,075 to $1,125 an ounce. As mentioned earlier, the company continues to evaluate strategic options for the MBU, including a potential restart of the Thompson Creek mine based on the continued strengthening of molybdenum prices and positive medium-term outlook. A pre-feasibility detailing this restart of Thompson Creek is planned for Q3 2023. At Goldfield, we continue our advancement of the project and completed approximately 50,000 meters of drilling in 2022, which will be incorporated in our planned initial resource estimate mid-year. Moving on to slide six. In 2022, we had a number of ESG highlights, and I won't touch on all of these, but first would like to extend our heartfelt condolences to the people of Turkey, and particularly those who lost loved ones due to the natural disaster. In support of the Turkish government's efforts, Santera has mobilized emergency response teams from the Oxford mine to assist Turkish state emergency preparedness authorities and regional disaster response organizations. The company continues to provide equipment and material support to the ongoing recovery activities where possible. We have coordinated with one of our mining contractors to support the recovery effort with equipment and supplies as well as trucks and crews, and continue to assist the local authorities in providing temporary housing. Moving forward in Q4 2022, Sunterra successfully completed the full rollout of the responsible gold mining principles. This has been a consistent and committed effort for many Sunterra employees, especially at our Mount Milligan and Oxford operations. We recognize and appreciate all this hard work. Additionally, the company continues to demonstrate that safety remains Sentera's top priority, having achieved one million-hour milestone without a lost-time injury at the Mount Milligan mine. I'll now pass the baton over to Paul Showrun, who will walk through Sentera's operational highlights for the third quarter.