Calibre Mining Corp.

Good day and thank you for standing by. Welcome to the Caliber Mining Corp 2022 Q1 Financial Earnings Results and Conference Call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. If you require any further assistance, please press star 0. I'd now like to hand the conference over to Ryan King, VP Corporate Development and Investor Relations. Please go ahead, sir.

Thank you, operator. Well, good morning, everyone. Thank you for taking the time to join the call this morning. Before we get started, I'd like to direct everyone to the forward-looking statements on slide two. Our remarks and answers to your questions today may contain forward-looking information about the company's future performance. Although management believes that our forward-looking statements are based on fair and reasonable assumptions, actual results may turn out to be different from these forward-looking statements. For a complete discussion of the risks, uncertainties, and factors which may lead to actual operating and financial results being different from the estimates contained in our forward-looking statements, please refer to our 2021 annual MD&A and AIF available on our website as well as on CDAR. And finally, all figures are in U.S. dollars, unless otherwise stated. Present today with me on the call are Darren Hall, President and Chief Executive Officer, David Splatt, Senior Vice President and Chief Financial Officer, and Tom Gallo, Senior Vice President, Growth. We'll be providing comments on our first quarter results, exploration programs, and our outlook for the remainder of 2022. after which we'll be happy to take questions. The slide deck we'll be referencing is available on our website at calibremining.com under the event section. You can also click on the webcast to join the live presentation. And with that, I'll turn the call over to Darren.

Thanks, Ryan. Moving to slide three. Good morning, everyone, and thank you for taking the time to join us today. Before discussing our Q1 performance, I would like to take a moment to recognize Calibre's employees and business partners for their continued focus, which delivered another excellent quarter. In 2018, we established our vision to transform Calibre from an exploration company into a quality, multi-asset, multi-jurisdictional mid-tier gold producer. Following our new market model, the first step in delivering that vision was to identify and acquire gold production with growth potential. which we did with the purchase of our Nicaraguan assets from B2Gold in October 2019. Two years on, I'm extremely proud of how the team have transformed our assets by delivering on our commitment to grow production and unlock value. Our operating strategy of integrating the Nicaraguan assets has grown 2022 production threefold to 185,000 ounces from 60,000 ounces per year. Established Libertad as a core asset with significant upside potential, keeping in mind that the 2.2 million tonne per annum facility was foreshadowed to move into closure in 2020. We have added over a million ounces of reserves with the highest ever grades. We have increased our net cash position to 77 million from approximately 4 million after reinvesting into sustainability, exploration and mine development, which will fuel future production and cash flow growth. Turning to Q1, we had an excellent start to the year. We completed the acquisition of Fiori Gold on January 12th and successfully integrated the teams and aligned on critical deliverables. We delivered record gold sales of 52,500 ounces in the quarter, being above budget for both business units, delivered a total cash cost of 1060 per ounce, a low full year guidance, and all-in sustaining costs of $11.99 per ounce below full-year guidance, which coupled with the grade-driven production growth anticipated in H2 positions the company extremely well for another excellent year. Our Q1 results are particularly pleasing. Given the industry-wide cost and resource pressures, the team has realized a number of commercial savings and synergies, including Corporate G&A rationalization of headcount, IT, office space, et cetera. Executed Nevada diesel supply agreements, saving approximately six cents per gallon. Negotiated Nevada exploration drilling agreements, which have secured drilling capacity through 2023 and realized a 38% reduction in our direct RC drilling cost per meter. We're currently negotiating insurance premiums for the combined entities, which we anticipate saving more than $600,000 per annum or 20% of our total premiums. Additionally, we have renegotiated our surety bonding in Nevada, which will see approximately $6.5 million of cash returned to Caliber in Q2 with a reduction in annual maintenance costs. Looking to the future, we commenced our 170,000-metre drill program across all assets, which Tom will provide more colour on shortly. But I'm particularly encouraged that PAN, with the initial results from a five-fold increase in drilling over previous years, is yielding strong results. At GoldRock, we are progressing technical studies and advancing support for state permitting, all of which should position us to be able to clear reserves at the end of this year, with the potential for the project to double gold production in Nevada. With Libertad having over 1 million tons of surplus processing capacity, we are well positioned for additional volume-based, low capital intensity organic production growth. More importantly, I see significant grade-driven production growth in 2023 and 2024 as we advance development of high-grade reserves at Provence Central and Eastern Borough City, all of which positions Caledon with an incredible opportunity to continue unlocking shareholder value by organically increasing production and cash flows, while self-funding exploration and growth supported by a clean balance sheet. With that, I'll turn it over to David to discuss our first quarter financial results.