Ero Copper Corp.

Thank you for standing by. This is the conference operator. Welcome to the AeroCopper 3rd Quarter 2023 Financial and Operating 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 seek out an operator by pressing star then 0. I would now like to turn the conference over to Courtney Williams, Senior Vice President, Corporate Development and Investor Relations, for opening remarks. Please go ahead.

Thank you, Operator. Good morning and welcome to AeroCopper's third quarter 2023 earnings call. Our operating and financial results were released yesterday afternoon and are available on our website, as are our financial statements and the MD&A for the three and nine months ended September 30th, 2023. On the call with me today are David Strang, Arrow's co-founder and chief executive officer, Marco DiFilippo, president and chief operating officer, and Wayne Dreyer, chief financial officer. We will be making forward-looking statements that involve risks and uncertainties from which actual results may differ materially. We would refer you to our most recent annual information form available on our website, CDAR and EDGAR, for a discussion of the risk factors of our business and their potential impact on future performance. As a reminder, and unless otherwise noted, all amounts are in U.S. dollars. I will now pass the call over to David String.

Thank you, Courtney, and thank you, everyone, for joining us today. We're speaking to you today from our offices in Sao Paulo, Brazil, at the end of a week-long tour with our board, during which we visited each of our operations. I'm happy to share that everyone is buoyed from the visit, especially seeing the great progress our team in Brazil has made in each of our major growth initiatives. Our third quarter financial results reflect our team's exceptional strategic execution and operating performance amid challenging market conditions. Despite the macroeconomic headwinds that led to weaker metal prices and a stronger Brazilian re-age against the U.S. dollar, we remained focused on executing and broadening our growth strategy, positioning ERO for long-term value creation as a global energy transition gains momentum. During the quarter, our near-term growth projects achieved several critical milestones. The Tucuma project, as announced last month, reached over 70% physical completion. Furthermore, a significant achievement was realized at the Gervantino operations, where we successfully initiated production from the Metinia vein, resulting in record gold production at our operating margins. Meanwhile, at our Carriba operations, we continued to advance our Pilar 3.0 initiative as we near completion of the mill expansion project and prepared to commence main sinking at the new external shaft. In parallel, we continue to bolster our medium and longer-term growth pipeline through ongoing regional copper and nickel exploration programs at the Carahiba operations, as well as through the execution of a binding term sheet to earn a 60% interest in Valley Base Metals Furnace Copper Project, which we announced earlier this week. Before I hand over the call to Mako to provide more detail on the execution of our growth projects, I will summarize our third quarter operating and financial performance. At the Carahuba operations, copper production was in line with our forecast at 10,766 tons of copper in concentrate. While our C1 cash costs for the quarter were also in line with our forecast in BRL terms, when converted to U.S. dollars, at the average third quarter exchange rate of 488 BRL per U.S. dollar, our copper C1 cash costs in U.S. dollar terms remain elevated at $1.82 per pound of copper produced. Copper production is expected to be strongest in the fourth quarter due to higher anticipated mined and processed copper grades. As a result, we are reaffirming our 2023 copper production guidance of 44,000 to 47,000 tons. Due to higher expected copper grades, And with the current quarter-to-day exchange rate averaging over 5.05 BRL per US dollar, we also expect to deliver lower C1 cash costs in the fourth quarter. For the full year, our copper C1 cash cost guidance range, based on the original assumed foreign exchange rate of 530 BRL per US dollar, remains $1.40 and $1.60 per pound of copper produced. given the continued strength of the BRL against the U.S. dollar, we're also providing a sensitivity range of $1.50 to $1.70 per pound of copper produced should the BRL to U.S. dollar exchange rate remain at current levels for the remainder of the year. At our Gervantino operations, as I mentioned earlier, we successfully initiated production from the Martini vein during the quarter, which contributed to a quarter-on-quarter increase of over 40% in both processed gold grades and gold production. As a result, we produced a record 17,579 ounces of gold at C1 cash costs of $371 per ounce. Due to our strong year-to-date operating performance at the Gervantino operations, we are increasing our 2023 gold production guidance range from 50 to 53,000 ounces to 55,000 to 59,000 ounces. We are also reducing our full-year C1 cash cost guidance from $475 to $575 to $375 to $475 per ounce of gold produced, and lowering our all-in sustaining cost guidance range from $1,000 to $1,100 to $900 to $1,000 per ounce of gold produced. Our financial results for the period reflect a combination of our strong, continued operating performance, as well as the metal price weakness and BRL strength that I mentioned earlier. As a result, adjusted EBITDA for the third quarter was $42.9 million, and adjusted net income attributable to the owners of the company was $17.3 million, or $0.18 per share on a diluted basis. As planned, our capital expenses remained elevated at just over $120 million during the third quarter, largely due to the strong progress being made at our Tukma project. In an effort to maintain the momentum we have carried forward from the second and third quarters, we have elected to accelerate select work streams originally slated for the first quarter of 2024 to the fourth quarter of this year. As a result, we have adjusted 2023 capital expenditure guidance for the Tukumar project to include estimated increase of approximately $15 to $20 million due to the expected shift in timing of associated payments. We have also provided foreign exchange rate sensitivities across our capital expenditure guidance ranges to reflect the potential impact of the BRL to U.S. dollar exchange rate remaining at current levels through the end of the year. I will now pass the call to Mako to discuss the highlights around our third quarter project execution, after which Wayne will discuss our financial results for the quarter.