Eldorado Gold Corporation

Thank you for standing by. This is the conference operator. Welcome to the El Dorado Gold fourth quarter and year-end 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 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 Lynette Gould, Vice President, Investor Relations, Communications, and External Affairs. Please go ahead, Ms. Gould.

Lynette Gould Thank you, Operator, and good morning, everyone. It is my pleasure to welcome you to our fourth quarter and year-end 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 of 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, Lowe Smith, Executive Vice President, Development Greece, and Simon Hilly, Executive Vice President, Operations and Technical Services. Our release yesterday details our fourth quarter and year-end 2024 financial and operating results. This should be read in conjunction with our year-end 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, and 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 an overview of Q4 and 2024 results and highlights. I will then pass the call over to Paul to go through our financials, and then Lowe and Simon to review our operational performance. Then we will open the call to questions from our analysts. Turning to slide four, 2024 was a strong operational and financial year at El Dorado, marked by many accomplishments. As planned, the fourth quarter was the strongest quarter of the year, with safe production of 155,668 ounces. We finished the full year with gold production of 520,293 ounces in line with our tightened guidance range and 7% increase over our 2023 production. Production benefit from higher mining rates and ore throughput at Lamont Complex, operational upgrades at Kisada, and increased productivity at Olympias. On the cost side, our cast costs and all in sustaining costs met our Titan guidance range. They were higher compared to 23, primarily as a result of higher royalties driven by higher gold prices, labor costs, and sustaining capital. Paul will touch on our cost in more detail later in the call. During 2024, each of our assets continued to execute in Quebec, At the LAMAC complex, we achieved record production of 196,538 ounces, showcasing the efficiency and capability of our operations. Furthermore, the declaration of an inaugural mineral reserve and subsequent technical report at our MOC marks a significant milestone in our strategic growth and development efforts in the Abitibi. This reinvestment in high return growth continues to create long-term value. Our Turkish operations performed well during the year. FM Chukuru continues to deliver at a steady rate, and we were pleased to announce a two-year mine life extension with a 23% increase in mineral reserves compared to the previous year. At Quesada during the year, we experienced slower than anticipated leach kinetics and delivered an exceptional fourth quarter driving a stronger finish to the year, reflecting our commitment to excellent operations. In Greece, Scurries was a significant focus during 2024, and we continue to advance construction. Once into production next year, this mine will be transformational for the company. Our focus in Scurries remains on delivering on key milestones and our commitment to driving long-term growth and value for our stakeholders. At Olympias, we successfully concluded the labor negotiations, which coupled with productivity improvements, supports the 650,000 ton per annum plant expansion and increase from 500,000 tons per annum, positioning the mine for a long-term profitability over its current life of 15 years. Turning to slide five in the fourth quarter, Our lost time injury frequency rate was 1.02, an increase from the LTIFR of 0.42 in the fourth quarter of 2023. In 2024, the LTIFR was 0.99, an increase from 0.65 in 2023. We take pride in our safety performance and our employees' dedication to safe operations, but we recognize there is still more to achieve. In 2025, our conviction to health and safety improvements remain steadfast with a strong emphasis on preventing high potential incidents and empowering our employees to cultivate a positive health and safety culture. We had a number of notable achievements throughout the year, including in the fourth quarter, Ellis Cole was honored with a silver award at the 2024 Euromine Safety Awards. second place amongst 15 nominations in Europe, the award recognizes our innovative virtual and augmented reality training programs. We also published our annual conflict-free goal report in December, reaffirming our goal products to not cause contribution to or benefit from conflict. In addition, we published an update to our climate and greenhouse gas emissions annual report including progress against our climate target. Both reports are available on our website. Before I turn the call over to Paul to discuss the financial highlights, I just wanted to touch on our news release announcing the filing of an amended technical report for the Lamarck complex. This was the result of a continuous disclosure review by the British Columbia Securities Commission. In the amended technical report, the preliminary economic assessment previously contained in section four has been removed in addition to other minor changes. The BCSC took the view that the economic assessment in our technical report did not meet the definition of PEA in NI 43-101 for two reasons. First, the commissions took the view that the study was not enough of a scope of a rescope of the project as required by the rules. Second, in the Commission's view, it was not consistent with the definition of PEA to apply the same inputs and parameters used in the reserve case to the inferred resources, even though those inputs and parameters are conservative and have a high level of confidence. The amended technical report does not alter any other aspect of the January 2025 report including the mineral resource estimates and the mineral reserve estimates, the financial assumptions, or the economic analysis in the pre-feasibility study for the reserve case. Specifically, the technical information supporting the inaugural mineral reserve at or MOC remains part of the amended technical report. Our confidence in the development of a second mine at the MOC complex was bolstered by the successful completion of the ormont bulk sample in december of 2024. with our seven-year history of drilling mineral resources and successfully converting them to mineral reserves we are confident about the future of the lamar complex i'll stop there and turn the call over to paul to review our financial results thank you george good morning everyone