Eldorado Gold Corporation

Thank you for standing by. This is the conference operator. Welcome to the Eldorado Gold Second Quarter 2023 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'll 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 Lynette Gould, Vice President, Investor Relations. Please go ahead.

Thank you, Operator, and good morning, everyone. I'd like to welcome you to our second quarter 2023 results conference call. Before we begin, I'd 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, Bill Yee, Executive Vice President and Chief Financial Officer, Joe Dick, Executive Vice President and Chief Operating 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 second quarter 2023 financial and operating results. This should be read in conjunction with our second quarter financial statements and management's discussion and analysis, both of which are available on our website. They have also been filed on CDAR Plus 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, Lynette, and good morning, everyone. Here is the outline for today's call. I'll provide a brief overview of Q2 results and highlights before passing it to Phil to go through the financials, and then to Joe and Simon to review our operational performance. Then we'll open the call to questions from our analysts. Turning to slide four, as we mentioned on our Q1 quarterly call, we closed the Scurries project financing of 680 million euros in early Q2. Subsequently, we have completed two drawdowns in April and May for a total of 65.9 million euros. On June 14th, we were pleased to complete an 81.5 million Canadian strategic investment into Eldorado by European Bank of Reconstruction and Development. These funds will be invested in construction at Scurries and will be credited against the company's 20% project funding commitment. In addition, to our Greek bank syndicate, EBRD provides another well-aligned strategic partner for the SCURRIES project. The investment by EBRD was a culmination of a three-year rigorous process which included completion of an environmental and social impact assessment consistent with our commitment to high environmental and social standards. With the proceeds from EBRD now contributed, We do not expect any further funding for scurries will be required from Eldorado in 2023, as the project financing facility is expected to cover remaining spending until Q1 2024. During the quarter, we also completed a bought deal offering for gross proceeds of $135.2 million Canadian dollars. These funds are expected to be used to fund growth initiatives across our global portfolio, including some not currently contemplated within our five-year plan. The growth initiatives may include, but are not limited to, Paramahill, where we expect to start community consultations later this year, the expansion of Olympias to 650 million tons per annum, bringing the Armach discovery into production, and exploration opportunities in Turkey A and Quebec. We anticipate we will be able to provide more detailed information around the cost, priority, and timing of each opportunity with our updated 2024 guidance in the first part of next year. Moving to slide five, starting with production, consolidated production across the portfolio came in slightly below our expectations for the quarter as a result of extraordinary rainfall at Kisadaq, forest fires near Lamarck, and lower grade and recoveries at Olympias due to mine sequencing as we advance productivity improvements. As we are expecting stronger production in the second half of the year, we are well positioned to meet our 2023 production guidance of between 475 and 515,000 ounces. Additionally, we are maintaining our capital expenditure guidance of $394 to $437 million, including $240 to $260 million towards the advancement of Scurry's project for 2023. Turning to Scurry's, we continue to be focused on project execution in order to deliver the project by the end of 2025 as planned. During the quarter, we advanced a number of early works projects and continued to award key contracts. We are pleased with the progress to date and continue to ramp up personnel with 350 people on site, which will increase to approximately 900 by year end. Joe will talk about the progress and operations in more detail later in the call. Shifting to cost, first half cash operating costs per round sold and all unsustaining costs were in line with our annual guidance ranges, driven by continued lower input costs. Phil will speak to our cost and financial position in more detail later in the call. Finally, I'd like to congratulate the team at Le Moc, who were awarded the Pre-Distinction Award in the Environment category at the 2023 Quebec Mining Association Convention. The team was recognized as an innovative project in partnership with MRC. De la Voix, Les Devoirs aimed at the progressive restoration of the Sigma tailings pond using compost produced locally. The award highlights our commitment to continued innovation in the area of sustainable development. I'll stop there and turn the call over to Phil for a review of our financial results.