1/1/1970

speaker
Conference Operator
Operator

Thank you for standing by. This is the conference operator. Welcome to the Equinox Gold first quarter 2022 results and corporate update. 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 and zero. If you are participating through the webcast, you can submit a question in writing by using the text box in the lower left corner of the webcast frame. I would now like to turn the conference over to Relynn Bailey, Vice President, Investor Relations for Equinox Gold. Please go ahead.

speaker
Relynn Bailey
Vice President, Investor Relations

Thank you, Cherise, and thank you, everybody, for joining us this morning. We will, of course, be making a number of forward-looking statements today, so please do take the time to visit our website, Peter and Edgar, to read the rest of our continuous disclosure documents. I will now turn the conference call over to our CEO, Christian Milau.

speaker
Christian Milau
Chief Executive Officer

Thanks, Ruline, and welcome, everyone. Doug, Peter, and I will walk you through the first quarter results here and take questions. But just as a reminder on the first slide three, we're an Americas-focused group that's really focused building a sizable platform in the Americas. We've started out with six producing lines at the moment. We've got the one in commissioning in Brazil, and it's ramping up towards commercial production at the moment. And we've got four large growth projects. So this year, we'll be producing six to 700,000 ounces, with a clear path to a million ounces over the next couple of years as our growth projects come in on stream. We've also got a strong balance sheet to fund that. And Leading into this quarter, you know, as expected, we said the first half of the year would be a bit slower and first quarter particularly. And, you know, we expect costs will continue to reduce over the year. And as we move through the year, production will ramp up as we bring new mines online and we hit into the higher periods of production starting in sort of Q2, Q3 period this year. So pleased with the first quarter's costs. They're roughly in line with expectations. We set those with our guidance early in the year. Production was a little bit light, and we'll walk you through why that happened and how we see production moving up over the year. And definitely it's hard to compare to Q4 2021, as we were very back-ended last year. So we'll walk you through the quarterly production here. Looking at slide number four in terms of recent highlights, Santa Luz poured its first gold on time. Recovery has been good. It was in the end of March, so we're really pleased with that. And at the moment, we're ramping it up. Greenstone is tracking well. We had a chance to visit site last week and really pleased with the progress there. We're coming out of the winter season, so a real hive of activity out there and Doug will walk you through all the good stuff that's going on on the ground. Really pleased to see the team coming together and they've managed obviously these recent waves of COVID as well. Very well on site. Fazenda, Santa Luz had some drilling that we put out into the press not too long ago here, so showing new significant gold mineralization in that nice big district and belt. Many more targets identified, so we're excited about that whole district. And corporately, we also had a few events happen just after the quarter end. We sold Mercedes. It actually closed in April. That was announced at the end of last year, but now we have $75 million of the $100 million of cash has come in with that just after quarter ends. We also received $40 million of proceeds from Solaris Warrant that we sold about a year ago. to some purchases of our Solera shares. So we brought in another $40 million. So after quarter end, we brought in approximately $110 million. And I'll pass it over to Peter to walk you through the actual operating and the financial results here.

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