Ero Copper Corp.

Thank you for standing by. This is the conference operator. Welcome to the Arrow Gold, sorry, Arrow Copper fourth quarter and full year 2023 operating and financial 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 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 Courtney Lynn, Senior Vice President of Corporate Development, Investor Relations, and Sustainability. Please go ahead.

Thank you, operator. Good morning, and welcome to Arrow Copper's fourth quarter and full year 2023 earnings call. Our operating and financial results were released yesterday afternoon and are available on our website, as are our financial statements and MD&A for the three and 12 months ended December 31st, 2023. On the call with me today are David Strang, Arrow's co-founder and chief executive officer, Mako Cifalipo, 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 forum available on our website, Cedar 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 Strang.

Thank you, Courtney, and thank you all for joining us today. 2023 was a cornerstone year for our company, highlighted by significant accomplishments across our organic growth initiatives. In addition to making significant strides towards doubling copper production to approximately 100,000 tons in 2025, we achieved targeted gold production levels of nearly 60,000 ounces following the successful completion of Javentina's NX-60 initiative. I'm pleased to share an update on our Tukma project, which Mako will elaborate on, where we've surpassed 90% physical completion while maintaining our forecast capital expenditure to guidance of $310 million. I'm also happy to report that commissioning is advancing smoothly. We completed dry commissioning of the crushing circuit in February, beating our timeline by one month. and expect to put first ore through the mill in April. We also made significant progress on the Pilar 3.0 initiative at our Kariba operations. This included completion of the mill expansion project where we achieved design capacity prior to year end and the initiation of main shaft sinking at the new external shaft in December, following the completion of supporting surface infrastructure. While these growth initiatives or growth investments drove elevated capital expenditures in 2023, they have also started to reflect positively in our cash flows from operations. More specifically, record gold production drove a meaningful expansion of operating margins at the Gervantino operations that contributed to a 20 million year-on-year increase in consolidated Eurogroup cash flow from operations. which totaled $163 million. Our 2023 financial performance also reflects the opportunistic implementation of risk mitigation measures throughout the year, including an expanded foreign exchange hedge program that yielded realized gains of over $11 million and helped to soften the impact of a stronger Brazilian REI against the U.S. dollar. We took an additional proactive measure during the fourth quarter amid a challenging macroeconomic landscape that drove short-term copper price uncertainty and bolstered our balance sheet with a board deal equity financing. This offering generated net proceeds totaling approximately $104 million and contributed to our year-end liquidity position of $262 million. Since the offering in early November, the copper market outlook has improved, with supply-demand fundamentals now signaling supply deficits in 2024 and 2025. Shift in the copper price, as well as copper concentrate treatment and refining charges, which have dropped to their lowest levels since 2020, are proactively securing smelting terms for the majority of our concentrate production through the end of 2025. These developments come at a favorable time as we approach initial production at Tukama. With capital expenditures on this project winding down through the first half of this year, we're approaching an exciting inflection point in our consolidated copper production and cash flow profile. We also look forward to finalizing a definitive earning agreement with Vale Base Metals on the Furnas Copper Project. With the necessary paperwork progressing smoothly, we expect to embark on the first phase of drilling later this year. Before turning the call over to Mako for a deeper dive into our project execution, I will briefly touch on our operating performance. At the Kataiba operations, we process 3.2 million tons of ore during the year. While this represented an impressive increase of approximately 13% compared to 2022, Fourth quarter and full-year mill throughput volumes slightly missed our targets due to approximately one week of additional unplanned downtime related to the completion of the mill expansion project. However, processed copper grades and metallurgical recoveries were in line with our expectations, averaging 1.49% and 91.4% respectively, and resulting in full-year copper production of 43,857 tons tons of copper in concentrate, including 11,760 tons of copper in concentrate in the fourth quarter. Regarding our C-1 cash costs at Cariba, we reported $1.75 for the fourth quarter and $1.80 for the full year. These figures reflect our new C-1 cash cost calculation methodology that was updated in light of changes to Cariba's copper concentrate sales channels. While Wayne will provide more insights on this methodology change, I want to note that the impact on our reported C1 cash costs is counterbalanced by an equivalent increase in reported realized copper prices. As we quickly approach the end of the first quarter, the cadence of production and cash costs is aligned with our expectations. More specifically, Cariiba's production is expected to be lowest in the first quarter with process copper grades projected to be the lowest for the year and process tonnage expected to increase between five and ten percent compared to the fourth quarter consequently we expect c1 cash costs to be the highest in the first quarter of this year turning to our gervantino operations we reported another stellar quarter capping a year of record gold production and record operating margins thanks to contributions from the new martinia vein Processed gold grades continued to exceed our expectations during the fourth quarter, averaging over 17 grams per ton and resulting in production of 16,867 ounces at C1 cash costs and all in sustaining costs of $413 and $991 per ounce, respectively. For the full year, production was up 39% compared to 2022, driven by a nearly 100% increase in processed gold grades. This resulted in four-year production of 59,222 ounces, and C1 cash costs and all-in sustaining costs of $422 and $957 per ounce, respectively. As we progress through the first quarter, we continue to observe positive grade reconciliations, with mined gold grades at $17 trending above 15 grams per tonne. Consequently, our expectations around the cadence of full-year production remains consistent with our previously issued guidance, with the first quarter anticipated to deliver the highest quarterly production levels in 2024. I'll now hand the call over to Marco to provide more comprehensive detail on our project execution, after which Wayne will touch on our financial results.