Eldorado Gold Corporation

Thank you for standing by. This is the conference operator. Welcome to the Eldorado Gold third quarter 2022 financial and operational results conference call. As a reminder, all participants are in 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 one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star, then 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 third quarter results conference call. Before we begin, I would like to remind you that we will be making forward-looking statements and referring to non-IFRS measures during the call. Please refer to the cautionary statement included in the presentation and the disclosures on non-IFRS measures in our management's discussion and analysis, as well as the risk factors set out in our annual information forum. Joining me on the call today is George Burns, President and Chief Executive Officer. 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 2022 third quarter financial results and operating results. This should be read in conjunction with our third quarter financial statements and management's discussion and analysis both of which are available on our website. They have also 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 Q3 results and highlights before passing it to Phil to go through the financials and Joe to review our operational performance. Then we will open the call to questions from our analysts. I'd like to kick off by highlighting our strategic focus areas that are helping us create long-term value from our many stakeholders. Our top priority is delivering our operational guidance for 2022 and completing the scurries financing by the end of the year, both of which I will speak to in a moment. We're also focused on growth at our existing operations through expiration success. Earlier this month, we released an expiration update with new results that demonstrate the significant potential to increase resources at our MOC, FM Chukaru, and Olympias. Moving to production. After a challenging start to the year, our site teams have been able to deliver sequential improvements, and I'm pleased to report that our production results again improved in the third quarter. We continue to see operating trends improve throughout the year and expect strong production in the fourth quarter. Eldorado remains on track to achieve full year production of 460,000 ounces, which is at the low end of our consolidated guidance range. Joe will speak to the operations in more detail later in the call. Now touching on costs. As we noted in previous quarters, we continue to face inflationary pressures similar to the wider market. Year to date, we have experienced cost increases for key commodities and consumables. as a result of the inflationary pressures in Turkey A, global supply chain issues, and impacts of sanctions imposed on Russia. However, cost increases denominated in local currencies have been partially offset by the weakening of the Turkish lira, Euro, and Canadian dollar. Bill will speak to our cost in more detail later in the call. Shifting to securities, in September, We announced that we have entered into a mandate letter with Greek banks for a credit committee approved 680 million Euro project finance facility for the development of Scurries, representing 80% of the total funding requirement. The mandate letter is an important step on the path to restart full construction at Scurries. Securing this project financing remains a key focus for El Dorado. We are making progress on negotiating definitive binding loan documents and advancing other approvals and conditions. Both the final decision to restart full construction and the project financing facility remain subject to Board approval, which we expect to seek before the end of the year. We remain confident in the capital cost estimate of $845 million to bring the Scurries project into commercial production. driven by several key factors. First, the project is half-filled, with most major processing equipment already purchased and installed or in storage. Our activity this year is focused on steel erection and enclosure of the processing facilities, execution readiness, and critical path activities. Second, looking at what is left to be completed on the project, Approximately half the remaining capital is related to labor, which is less impacted by escalation. Third, the highly capable execution team is largely in place. We are well positioned to access a ready pool of labor in the local area for the construction phase. And finally, as part of our approach to capital discipline, we are constantly evaluating our capital cost estimate to ensure we will be well positioned to execute this project on budget. I would like to end with a sustainability highlight. Earlier this year, Eldorado was ranked amongst the best 50 corporate citizens in Canada by corporate nights. At Eldorado, we consider sustainability in everything we do, from exploration to closure, and in our relationships with customers, communities, investors and other stakeholders. Being recognized as one of this year's best 50 corporate citizens in Canada is a testament to the progress we are making against our sustainability commitments. I'll stop there and turn things over to Phil for a review of our financial results.