Eldorado Gold Corporation

Thank you for standing by. This is the conference operator. Welcome to the Eldorado Gold first quarter 2024 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 0. I would now like to turn the conference over to Lynette Gould, Vice President, Investor Relations, Communications and External Affairs. Please go ahead, Ms. Gould.

Thank you, operator, and good morning, everyone. I'd like to welcome you to our first quarter of 2024 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 and risk factors in our management discussion and analysis. Joining me on the call today, we have George Burns, President and Chief Executive Officer, Paul Ferneyhough, Executive Vice President and Chief Financial Officer, Lo Smith, Executive Vice President, Development, Greece, and Simon Hilly, Executive Vice President, Technical Services and Operations. Our news release yesterday details our first quarter 2024 financial and operating results. This should be read in conjunction with our first quarter 2024 financial statements and management's discussion and analysis, both of which are available on our website. They have also both 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 am now happy to turn the call over to George.

Thanks, Lynette, and good morning, everyone. We are pleased to have Lo Smith, our Executive Vice President, Development Greece, join us on the call. With Joe Dick recently retiring from his COO role, and moving into a consulting role, Lowell will review our Greek assets. Our board and management team spent this week at our Lamoc complex in Val d'Or, Quebec, celebrating its fifth operating anniversary. We acquired Lamoc in 2017, shortly after I joined the company. Within two years, we had announced an initial maiden reserve, refurbished the old Sigma mill, and began operations on time and on budget. In the first five years, we have produced approximately 850,000 ounces of gold, exceeding the pre-feasibility expectation of 644,000 ounces by 32%, with the remaining 877,000 ounces in reserves as of September 30, 2023. With ORMOC expected to announce an initial reserve later this year and a number of exploration targets on our large land package, this operation has exceeded our expectation and it has a bright future ahead of it. Here is the outline for today's call. I will provide a brief overview of the Q1 results and highlights. I will then pass the call over to Paul to go through our financial results and then on to Lowe and Simon to review our operational performance. We will then open the call to questions from our analysts. Turning to slide four, the first quarter was consistent with guidance, delivering safe production of 117,111 ounces of gold. Historically, production is lower in the first quarter of the year as winter conditions at Kisada slow down leach kinetics. This is combined with expected ore grade variability across the operations. Looking ahead, we continue to expect increased production in the second quarter and a stronger second half of the year, remaining on track with our guidance to produce between 505 and 555,000 ounces of gold for 2024. Total cast cost and all in sustaining costs were $922 per ounce sold and $1,262 per ounce sold, respectively. Cost increased as a result of higher royalties, labor costs, and consumables. With the higher gold prices, royalty costs increased in Greece and Turkey as royalty structures calculated are on a sliding scale linked to the gold price. Detailed royalty tables are available in our recently filed technical reports for Olympias and FM Chukaru. While we see higher costs this quarter, they are in line with our 2024 guidance ranges. Paul will touch on the cost in more detail later in the call. Turning to slide five, in the first quarter, our last time frequency rate increased to 1.63 recorded incidents per million person hours worked compared to 0.87 in Q1 2023. Our commitment to a safe workplace is unchanged and recognize this as a continuous journey of improvement, and we expect to return to our trend of improving frequency rates. Our health and safety focus in 2024 is based on preventing high potential incidents in further empowering our employees to promote a positive and healthy safety culture. In sustainability, we were pleased to be the only non-oil sands mining company named as one of the 30 companies in the Globe and Mail's Road to Net Zero, recognizing our progress against our corporate climate targets. This was included within the Globe's report on Business Magazine, and utilizes research from Sustainalytics. We continue to advance our target to mitigate our greenhouse gas emissions through operational efficiencies and continuous improvement, technologies, processes, energy generation, grid decarbonization, mine planning, and operational changes. These actions also deliver operational and safety benefits. In government relations, We were proud to support the strengthening ties between the Canadian and Greek governments and business communities in March as Prime Minister Kyriakos Mitsotakis became the first Sydney Greek Prime Minister to visit Canada since 1983. During his remarks at one of the events, Mr. Mitsotakis spoke enthusiastically to Eldorado Gold's journey in Greece and the positive impact from investments by the company as a leading Canadian operator in Greece. I'll stop there and turn the call over to Paul for a review of our financial results.