Eldorado Gold Corporation

Thank you for standing by. This is the conference operator. Welcome to the Eldorado Gold fourth quarter and year-end 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 1 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.

Thank you, operator, and good morning, everyone. I'd like to welcome you to our fourth quarter and year-end 2022 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 statements included in the presentation and the disclosure on non-IFRS measures in our management's discussion and analysis, 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 Simon Hilly, Senior Vice President, Technical Services and Operations. Other members of the senior leadership team will also be available for the Q&A session. Our release yesterday details our fourth quarter and year end 2022 financial and operating results. This should be read in conjunction with our fourth quarter and year end financial statements and management's discussion and analysis, both of which are 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 from our website. After the prepared remarks, we will open the call for Q&A. At this time, we would invite analysts to queue for questions. I'll 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 Q4 results and highlights before passing it to Phil to go through the financials and Simon to review our operational performance. Then we'll open the call to questions from analysts. In light of the devastating earthquakes that took place in Turkey and Syria at the beginning of February and earlier this week, I, on behalf of the Eldorado team, would like to extend our condolences to those impacted by the disaster. In the immediate period following the initial earthquakes, our mine rescue teams from FM Chukuru and Kisadat mobilized to the impacted area. A number of these team members are highly trained in underground mine rescue, a much needed skill for earthquake rescue and recovery efforts. The teams were able to save several lives and recover victims so they could be returned to their families to be grieved for. Additionally, Tuprag, El Dorado's turkey subsidiary, donated blankets, raincoats, and other essential supplies to support those in the earthquake-affected regions. Working with our colleagues in Turkey A, we will continue to provide aid and assistance to support the relief efforts as needed in the days, weeks, and months ahead. Fortunately, our operations are located over 1,000 kilometers away and were not impacted by the earthquakes. We will continue to assess the situation and our top priority, as always, is to ensure the continuing safety and well-being of our team members. I would like to thank our entire team in Turkey for responding so quickly and compassionately to this strategy. These efforts have been an inspiration for all of us. We faced operational challenges in early However, through diligence and resilience, we improved operational performance continuously over the year. Fourth quarter production was strong across all assets, which resulted in second half production being 20% higher than first half. Our full year production of almost 454,000 ounces was 1% below the bottom end of our guidance range. In conjunction with our financial release yesterday, we published our 2023 guidance and five-year outlook. We have introduced scurries into our longer-term outlook with commercial production expected by the end of 2025. We are forecasting gold production to be between 675 and 735,000 ounces by 2027, representing a 55% increase over five years. Simon will speak to the operations and our guidance in more detail later in the call. Now touching on cost. We continue to face inflationary pressures similar to the wider market. Throughout 2022, we experienced price increases for commodities and consumables, including electricity in Turkey and Greece and fuel and reagents at Quesada. As a result, our full year 2022 cash operating costs and total cash costs were above our consolidated guidance, while our all-in sustaining cost was within guidance driven by our discipline management of sustaining capital. Bill will touch on our cost in more detail later in the call. Shifting to scurries, in December we announced the milestone news regarding the Greek bank financing and conditional board approval for the full restart of the project. The project level financing covers 680 million euros or 80% of the expected funding required to complete the project at competitive interest rates. The remaining 20% of the project funding will be fully funded by El Dorado. The financing is subject to customary closing conditions, which are expected to be completed in the first quarter. With Scuri's financing announced, We have delivered on our multi-year strategy in Greece, including the approval to deploy dry stack tailings, the amended investment agreement, investment in early works construction, and finally, a fully funded financing package that allows us to shift into project execution and achieve commercial production by the end of 2025. On the sustainability front, in the fourth quarter, we completed our first ever integrated CIMS compliance audit at LAMOC. As part of this global process, a delegation of auditors, including colleagues from our operations in Greece and Turkey, reviewed LAMOC's performance as set out in our internal standards, referred to as Sustainability Integrated Management System. PWC provided limited assurance against all the mining association of Canada's towards sustainable mining protocols and site compliance against the World Gold Council's responsible gold mining principles. The completion of the audit is a major milestone for Lamarck and El Dorado as we journey towards full implementation of CEMS and leading ESG performance against our peers. I'll stop there and turn things over to Phil for a review of the financial results.