Calibre Mining Corp.

Good day and thank you for standing by. Welcome to Calibrate Mining Corp's third quarter 2023 financial earnings results and 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'll need to press star 1-1 on your telephone. You'll then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 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 corporate development and investor license please go ahead thank you operator good morning everyone and thank you for taking the time to join the call this morning before we commence 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 and certainties 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 the Q3 2023 MD&A and Consolidated Financial Statements 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 Splett, Senior Vice President and Chief Financial Officer, and Tom Gallo, Senior Vice President of Growth. We'll be providing comments on our third quarter and year-to-date 2023 results, after which we'll be happy to take questions. The slide deck we'll be referencing is available on our website at CaliberMining.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 Darren.

Thanks, Ryan. Moving to slide three. Good morning and thank you for taking the time to join us today. I'll start by thanking all Caliber employees and business partners for their continued support, which resulted in our fourth consecutive record-breaking quarter. I'm very pleased with the team's performance, which included responsibly delivering record gold sales in excess of 73,000 ounces, a 50% increase year over year, at a total cash cost of $1,007 per ounce, and an all-in sustaining cost of $1,115 per ounce. Year-to-date, the company has delivered a record-adjusted net income of $74 million and earnings per share of 16 cents. The company continues to deliver strong free cash flow with $16.3 million this quarter. Our cash position grew 26% over Q2 to a record $97 million. With year-to-date performance favorable budget, we remain in a strong position to deliver into the upper end of our full year of production guidance. During the quarter, we announced numerous favorable expiration results. and a maiden mineral resource at Balkan, which is located less than 10 kilometers from the Libertad Mill, all of which continues to demonstrate our ability to expand existing and discover new resources. During the year, the team has successfully delivered both the Bavon Central and Eastern Borussia open pit mines into production, which marked significant milestones that further demonstrate our ability to not only fulfill our full year commitments, but also to grow our business organically. Turning to slide four, since the acquisition of the Le Mans and Libertad operations in late 2019, our exploration programs have resulted in a 280% reserve growth after producing 750,000 ounces of gold. Recently, we've seen success across the Le Mans property, most notably along the Pantheon-Vitam coal corridor. Following Pantheon's discovery in 2020 and subsequent developments and production in 2021, we identified the high-grade Pantheon North deposit and VTEM Gold Corridor, which continue to reveal high-grade potential long strike. I anticipate that the success we've seen along the VTEM Corridor this year will positively impact our year-end mineral resource estimates. During the quarter, we announced drill results from the high-grade Atrapasada Underground, located two kilometers west of the Limon plant, which further demonstrates the overall resource expansion and discovery potential of the enduring Limon District, which has produced in excess of 4 million ounces since its inception. Moving to slide five, since 2019, we have demonstrated the effectiveness of our operating strategy, responsibly obtaining permits and developing satellite deposits to responsibly grow production while utilizing the existing processing infrastructure at Libertad. A recent testament to this is the initial open pit mineral resource at Volcan, which is located less than five kilometers from the Libertad plant. In addition, our resource expansion drill program within the Libertad complex unveiled high-grade gold mineralization just 100 meters below the existing underground development at the Hoverley underground mine, confirming its expansion potential. Additionally, Scout Drilling has identified new target areas located within 10 kilometers of the Libertad Mill, presenting opportunities for further discovery and resource growth. I look forward to talking about ongoing results as we continue to advance our drill programs across the assets. Turning to slide six. As we continue to self-fund exploration and development whilst concurrently increasing our cash reserves, I'm confident that Caliber continues to present tremendous opportunities. for all of our shareholders. Our commitment to responsible, sustainable, and transparent operations ensures long-term prosperity for all of our stakeholders. With that, we're happy to take questions. I'll now pass it back to you, operator.