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Calibre Mining Corp.
2/23/2023
Good day, and thank you for standing by. Welcome to the Caliber Mining 2022 Q4 and Full Year Financial Earnings Results Conference Call. At this time, all participants are in a 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 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Ryan King, Senior Vice President. Please go ahead.
Well, thank you, operator. Good morning, everyone, and 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 2022 annual MD&A, available on our website as well as on CDAR. And finally, all figures are in US dollars unless otherwise stated. Present today with me on the call are Darren Hall, President and Chief Executive Officer, David Splett, Senior Vice President and Chief Financial Officer, and Tom Gallo, Senior Vice President of Growth. We'll be providing comments on our fourth quarter and full year 2022 results and our outlook for 2023, 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 events section. You can also click on the webcast to join the live presentation. And with that, I'll turn the call over to Derek.
Thanks, Brian. Moving to slide three, good morning and thank you for taking the time to join us today. I would like to start by thanking all Calibre employees and business partners for their continued focus, which resulted in another record-setting year. Pleasingly, these records were led by an additional 50% reduction in our lost time injury frequency rate. I'm proud of what the team have accomplished in 2022, which included integrating the Nevada assets, delivering record gold production of 222,000 ounces at 20% increase over 2021, meeting expectations on total cash costs of $11.29 per ounce, despite significant industry-wide inflationary pressures, and obtaining Kavon Central and Eastern Borussia permits. for funding construction activities, which positions us well in 2023 for an additional 22% grade-driven increase in gold production. Additionally, our commitment to reinvest continues to pay dividends, growing reserves to 1.35 million ounces, a 370% increase after production since becoming a producer in Q4 2019. In 2022, our Nicaraguan exploration focus morphed to include new targets and district-scale discovery opportunities. During the year, we discovered our highest prey deposit, Pantheon North, and outlined multiple kilometres of potential at the Limon Complex along the Pantheon-Vitem Geophysical Gold Corridor. Pantheon North added 244,000 ounces to reserves. at 9.45 grams per tonne, increasing the consolidated Nicaraguan reserve to 5.37, the highest grade ever. After owning the Nevada assets for less than 12 months, we increased mineral reserves 23% and announced the discovery of a new zone, proximal to Pan, demonstrating the geologic potential of the area. I would like to highlight that the company's reinvestment and exploration and development since 2019 have and will continue to present a compelling investment opportunity. I'll now turn the call over to David to discuss our financial results.
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