G Mining Ventures Corp.

Good morning and welcome to G-Mining Ventures' 4th Quarter and Full Year 2025 Results Conference Call. All participants are in a listen-only mode. Following prepared remarks, we will open the line for questions. Please note that today's call is being recorded. I will now turn the call over to John Francois Lemond, Vice President, Investor Relations.

Thank you, operator. Good morning, and thank you all for joining us for G-Mining Ventures' fourth quarter and full year 2025 results conference call. I am Jean-François Lamont, VP of Investor Relations. Our earnings release that was issued yesterday, along with today's presentation, are available on our website. On the call today with us is Louis-Claire Juniac, President and Chief Executive Officer, Julie Lafleur, Chief Financial Officer and Vice President of Finance. I would like to remind everyone that we will be making forward-looking statements during this call. Please refer to the cautionary notes and risk disclosure in RMDNA, as well as slide 2 of the webcast presentation. Now, I will turn it over to Louis Pierre to provide you with an overview.

Thank you, J.F. G-Mining Ventures delivered strong record financial results for our first full year of commercial production at TVE. driven by a strong operational performance, disciplined cost control, and a supportive gold price environment. We finished the year with a solid fourth quarter, producing 47,000 ounces of gold at a total cash cost of $808 per ounce, and an all-in sustaining cost of $1,245 per ounce. Costs increased quarter over quarter, primarily due to higher royalties and lower gold sales volumes during the period. With a high all-in sustaining cost margin of $2,657 per ounce, TZ delivered approximately $80 million of free cash flow in the quarter. For the full year, 172,000 ounces of gold were sold, generating $255 million of free cash flow, or $1,484 per ounce produced, and maintained a pure leading cost structure with total cash costs of $748 per ounce, and an all-in sustaining cost at $1,155 per ounce, which was within our guidance despite higher than expected royalty costs. During the year, we ramped up the plant throughput, increased mining rates through the commissioning of additional mining equipment, and completed expansion of the CIL tailings facility for the full life of mines. Our strategy is to continue stockpiling lower-grade ore, which stood at 7.1 million tons at year-end, providing us with a contingency source of ore during high rainfall events. KZ is transitioning into the steady-state phase, typical of mature operating mines, with a focus shift to continuous improvements in productivity and cost management. This year, we plan to make modest investments in the plant to address remaining bottlenecks, including tailings pumping capacity, while continuing broader optimization initiatives to increase throughput. On safety, TZ closed the year with a lost time injury frequency rate of 0.15, with two lost time incidents recorded during the year. While this represents solid performance, our objective remains zero harm, and we continue to focus on strengthening safety culture and systems across the operation. In the fourth quarter, the commissioning of additional mining equipment in late Q3 contributed to total mined tonnage reaching 6 million tons, an 18% increase over the previous quarter. This higher production supported increased waste dripping, resulting in a low annual strip ratio of 1.86. Mill throughput for Q4 averaged 11,711 tons per day, or 90.6% of main plate capacity, with a head grade of 1.49 grams per ton. Goal production for the fourth quarter increased by 2% compared to the third quarter, primarily driven by higher process grades. Mill throughput during the quarter was impacted by unplanned downtime in November, following a failure of a ball mill motor bearing. Gold recovery rates have also improved, achieving 91.8% during the fourth quarter and 90.6% for the full year 2025, supported by increased plant stability and reduced variability in the flotation circuit's operating parameters, largely due to the implementation of an expert control system. Total cash costs were $748 per ounce, slightly exceeding the upper end of our 2025 guidance. This was mainly due to higher royalty and production tax expenses, approximately $54 per ounce, driven by an average realized gold price of $3,374 per ounce, and was partially offset by stable underlying site operating costs. Mining costs averaged $3.24 per ton mined, while processing costs were $12.53 per ton milled. All in sustaining costs were $1,155 per ounce, remaining within the 2025 guidance. Operating costs at TZ have largely been stable in 2025, with maintenance parts representing about 29% of our cash costs, followed by labor at 25%, which has increased by approximately 5% year over year. Fuel is only about 10%, and power is only about 5% of our cash costs. With that, I'll turn it over to Julie for the financial highlights.