Eldorado Gold Corporation

Thank you for standing by. This is the conference operator. Welcome to the El Dorado Gold fourth quarter and year-end 2021 results and the Lamarck Technical Study conference call. As a reminder, all participants are in a listen-only mode and the conference is being recorded. After the presentation, there will 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 and zero. I would now like to turn the conference over to Lisa Wilkinson, Vice President, Investor Relations. Please go ahead, Ms. Wilkinson.

Thank you, operator, and good morning, everyone. I'd like to welcome you to our Q4 and full year 2021 results and Lamarck Technical Study conference call. Before we begin, I would like to remind you that we will be making forward-looking statements during the call. Please refer to the cautionary statements included in the presentation as well as the risk factors set out in our annual information form. Joining me on the call today, we have George Burns, President and Chief Executive Officer, Phil Yee, Executive Vice President and Chief Financial Officer, and Joe Dick, Executive Vice President and Chief Operating Officer. Other members of the senior leadership team will also be available for the Q&A session. Our release yesterday details our 2021 fourth quarter financial and operating results. This should be read in conjunction with our fourth quarter financial statements and management's discussion and analysis. We also released highlights of the new Lamarck Technical Study. These documents are available on our website and have been filed on CDAR and EDGAR. All dollar figures discussed today are U.S. dollars unless otherwise stated. We will be speaking to the slides that accompany this webcast. You can download a copy of these slides from our website. After the prepared remarks, we will open the call for Q&A. At this time, we will invite analysts to queue for questions. I will now turn the call over to George.

Thanks, Lisa, and good morning, everyone. Here is the outline for today's call. I'll provide a brief overview of 2021 highlights before passing it to Phil to go through the financials. Then Joe will discuss operational performance and provide some additional color on the new Lamarck technical study before we open it up for questions from our analysts. I am very proud of our team for achieving several key milestones in 2021. Specifically, we delivered full year production of over 475,000 ounces, which was at the high end of our increased guidance range. In January, we released our five-year production outlook that shows continued growth at our current operating mines. The key highlight is the midpoint of annual gold production has increased on average by approximately 4% or 21,250 ounces per year for the period between 2022 and 2025, compared to the guidance provided last year for the same period. In 2022, we expect first half production to be lower than second half due to the construction and ramp up of the HPGR Akisada, year-to-date weather challenges in Turkey and Greece, and the impact of COVID-19 Omicron variant across our operations, which has resulted in increased absenteeism. We are still confident that we will deliver our 2022 production guidance range of 460 to 490,000 ounces. We continue to evaluate opportunities at our operations with a goal of providing potential upside to our future production outlook. Our scurries financing discussions continue to advance. We're evaluating all available options, including joint venture equity partners, project and debt financing, and lastly, streams. Our focus on selecting a financial package will continue to be driven by value optimization and de-risking for the future. Yesterday, we released the results of the new Lamarck technical study, which showcases the growing value at the asset and a significant upside potential from lower triangle and or mock deposits. The Lamarck property has been an outstanding acquisition for us. We quickly developed the project and brought it into commercial production. We have been replacing reserves year over year, and we have even exceeded peak production levels beyond the 2018 pre-feasibility study. Now the new study shows robust economics. Specifically, the upper triangle reserve NPV is $459 million at a 5% discount rate. and using a $1,500 gold price assumption. In addition, the Lower Triangle and our MOC-inferred resource deposits have incremental NPV of $162 million and $197 million, respectively. Joe will speak more about the study later in the call. With the Triangle Sigma Decline project now complete, we were focused on an exploration drift and resource conversion at our MOC. our 2022 exploration strategy is focused on new targets within our expanded license area to support continued growth at Lamarck. We are also strategically positioned in the Abitibi region, providing us additional exposure to the potential upside in this world-class mining jurisdiction. Switching gears, we have noted in previous quarters we continue to have face pervasive inflationary pressures similar to the wider market. In the fourth quarter, we have seen increased volatility with inflation in Turkey. However, we continue to benefit from the weakening lira, which offset the majority of these inflationary pressures in 2021. In the abitivity region, mining work has picked up, which is impacting the availability of contractors and labor. We continue to successfully mitigate this challenge. We have reviewed our major spin categories to ensure resilience in our supply chain and will continue to monitor the inflationary risk going forward. Finally, I'd like to highlight another significant step forward in our sustainability strategy. We recently published our inaugural climate change and greenhouse gas emissions report. In this report, we target mitigating greenhouse gas emissions by 30% by 2030 on a business as usual basis. In other words, we intend to remove approximately 65,000 tons of carbon dioxide equivalent by 2030. We have made tremendous progress to better understand and address climate change risks and opportunities facing our business, which will help us achieve our greenhouse gas emissions target and support our journey to decarbonization. I will stop there and turn things over to Phil for a review of our financial results.