Centerra Gold Inc.

Thank you for standing by. This is the conference operator. Welcome to the Sentara Gold second quarter 2023 conference call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there'll be an opportunity to ask questions. To join the question queue, you may press star then 1 on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star then 0. I would now like to turn the conference over to Lisa Wilkinson, Vice President, Investor Relations and Corporate Communications with Sentara Gold. Please go ahead.

Thank you, Operator, and good morning, everyone. Welcome to Sentara Gold's second quarter 2023 results conference call. Joining me on the call today are Paul Tamori, President and Chief Executive Officer, Paul Charan, Chief Operating Officer, and Darren Millman, Chief Financial Officer. Our release yesterday details our second quarter 2023 results. This should be read in conjunction with our MD&A and financial statements, both of which can be found on CDAR, EDGAR, and our website. Presentation slides are available on Sentara Gold's website to accompany this webcast. Following the prepared remarks, we will open the call for questions. All figures are in U.S. dollars unless otherwise noted. Before we begin, I would like to caution everyone that certain statements made today may be forward-looking and are subject to risks which may cause our actual results to differ from those expressed or implied. Please refer to the cautionary statements included in the presentation, as well as the risk factors set out in our annual information form. Also, certain of the measures we will discuss are non-GAAP measures. Please refer to the description of non-GAAP measures in our news release and MD&A issued yesterday. I will now turn the call over to Paul Tamori.

Thank you, Lisa, and good morning, everyone. After three months at Sentera, I've now had the opportunity to visit our operations and projects and engage with employees, the investment community, and other stakeholders. And I'm optimistic for the opportunities that lie ahead. In the second quarter, we've already achieved several milestones that are setting Sentera up for strong performance in the second half of the year. Most notably, at the end of May, we received approval of an EIA for the Uksut mine from the Turkish Ministry of the Environment. We continued to enjoy strong local community support for the project, and with all the necessary regulatory approvals in hand, we restarted full operations on June 5th and produced over 20,000 ounces of gold in a month. Looking ahead, we expect Uksut to produce between 180 and 190,000 ounces of gold in 2023, which will make it a significant contributor to our expected stronger second-half performance. Turning to Mt. Milligan, we remain on track with our plan to have stronger production in the second half of the year. Our full-year production guidance for both Gold and Copper are unchanged, and including Oaks Sooth, our full-year consolidated Gold production guidance is between 340 and 360,000 ounces. Paul Chowron will speak to our operations in more detail later in the call. One of my top priorities has been to evaluate all of Sentara's assets with an ultimate goal of developing a comprehensive value-maximizing strategic plan. Key aspects of this will include a view on the Molybden business unit with an assessment of the potential for a restart of operations at the Thompson Creek mine, continuing to drive operational and technical improvements at Mount Milligan, repositioning our approach at the Goldfield project to target higher returns, and lastly, assessing opportunities for growth in gold production. In conjunction with our asset level strategy, we're also developing a capital allocation framework focused on optimizing shareholder value. By taking a systematic and diligent approach, our goal is to direct our capital in three ways. Return to shareholders, invest in internal projects, and for external M&A opportunities. Stay tuned as we expect to roll out this new strategic vision for the company in the coming months, which will serve as a crucial step in our journey to maximizing value to our shareholders and other stakeholders. Shifting to Nevada, I'd like to provide an update on the Goldfield project. Paul Charron and I had the opportunity to visit the project in June, and we think it presents a great opportunity in a top mining jurisdiction. Based on my experience building projects and operating mines in Nevada, and with what we see at Goldfield, we will be pivoting our approach. Most importantly, we'll focus for now only on the oxide and transition material, principally in the gem field and nearby deposits. This will allow us to reevaluate the project's scope of work to achieve a lower capex flow sheet and to maximize returns. Second, we believe the project has upside potential from its large underexplored land position. As a result of this change in focus, we will take more time to further explore the property before releasing an initial resource estimate. Our full year exploration guidance at Goldfield has been increased to between $16 and $20 million, up from $10 million previously. This strategic pivot is aligned with our disciplined approach to capital allocation and will allow us more time to target a higher return project. We continue to have a positive outlook, but we want to achieve a higher return profile before we proceed with development. Turning now to the Molybdenum business unit, as mentioned earlier, we're developing a strategic plan which is expected to incorporate a number of aspects for value maximization. First, we continue to progress our PFS study on the restart of the Thompson Creek mine and we remain on track to release highlights later in the third quarter. And second, we're assessing the strong operating synergies that will exist between the Thompson Creek Mine and the Langeloth Metallurgical Plant. Moving now to slide five, Sentera has committed to sustainable and responsible mining practices, and this is demonstrated through our ESG commitments and accomplishments. Today, I'd like to highlight that we've achieved full conformance with the World Gold Council's Responsible Gold Mining Principles during our year three assessment. This accomplishment reflects our commitment to responsible mining practices, proactive risk management, and continuous improvement in our relationships with stakeholders and local communities. We understand that ESG is an ongoing journey and will continue to work diligently towards our goals and initiatives in the coming year. I look forward to updating the market on our commitments and achievements going forward. And with that, I'll pass the call over to Paul Chowron to walk through our operational performance in the quarter.