G Mining Ventures Corp.

Good morning and welcome to GMining Ventures' second quarter 2026 results conference call. All participants are in 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 Jean-Francois Lemonde, Vice President, Investor Relations.

Thank you, operator, and good morning to everyone joining G-Mining's 2026 second quarter operational and financial results conference call. In addition to myself, we have on the line Louis-Pierre Gignac, Chief Executive Officer, and Julie Lafleur, Chief Financial Officer and VP Finance. I would like to remind everyone that after management's remarks, the call will be followed by a Q&A session. As we will be making forward-looking statements during this call, please refer to the cautionary notes and risk disclosure in our MD&A and on slide two of the webcast presentation. Also, please bear in mind that all dollar amounts mentioned during the call are in U.S. dollars unless otherwise noted. Now, we'll turn the call over to Louis Gignac to provide an overview of the quarter. Good morning, and thank you, J.S., and thank you, everyone, for joining us today. I want to start by recognizing the dedication of our teams across all our sites whose commitment to safety, operational excellence, and responsible mining continues to drive our success. Q2 2026 was a strong quarter for GMIN, operationally, financially, and strategically. Token Tenzino delivered a solid quarter and construction of OcoWest is advancing in line with plans. Strategically, Gmin closed the transformational acquisition of G2 during the quarter, consolidating Gmin's Oko West and G2's adjacent Okogane project into a single large-scale and long-life tier-one gold mining complex. Importantly, TZ continued to deliver in the quarter, producing 36,845 ounces, a 16% increase over Q1 2026, with 37,439 ounces sold. The improvement was driven by a higher-grade mining sequence and stable mill performance as we advanced towards accessing the higher-grade Phase II mineralization. Free cash flow grew more than 50% to $85 million quarter-over-quarter, generating approximately $2,300 of free cash flow per ounce of gold produced. Throughout the year, will remain focused on protecting margins and maximizing the free cash flow generated from every ounce we produce. Second quarter gold production exceeded planned, supported by higher grades and strong metallurgical recoveries. TZ maintained plant performance during the quarter, processing just over a million tons of ore at an average throughput rate of 11,120 tons per day. The average process grade was 1.23 grams per ton gold with an average recovery of 91.9%. Mining activity also remained strong with a record 6.3 million tons of ore and waste extracted from the open pit during the quarter, representing a 15% increase from Q1, 2026. The corporation maintains its 2026 production guidance of 160 to 190,000 ounces with approximately 61% of output expected in the second half of 2026 as higher grade materials accessed in accordance with the mine plan. Safety performance remains strong at TZ and across all projects during the quarter as GMIN recorded zero lost time injuries. We continue to deliver strong margins during the quarter supported by a record average realized gold price of 4,197 per ounce and all in sustaining costs of $1,690 per ounce sold. Q2 2026 cash costs of $1,046 per ounce sold were 1% higher than Q1 2026, while all in sustaining costs increased 6% to $1,690 per ounce sold, largely reflecting the impact of stronger Brazilian real relative to the U.S. dollar. As a result, we have revised our full-year 2026 cash cost and all unsustaining cost guidance to $836 to $965 and $1,330 to $1,544 per ounce sold, respectively, compared with previous guidance of $736 to $865 and $1,230 to $1,444 per ounce sold. The revisions primarily reflect the impact of the stronger Brazilian real on our cost base. I will now invite Julie to take you through the financial results, cash flow, and balance sheet.

Thank you, Louis-Pierre, and good morning, everyone. During Q2, GMIN delivered excellent financial results reflecting the quality of our asset portfolio, solid operational execution, and continued leverage to the gold price. Second quarter revenue rose 21% year-over-year to $157 million, driven by 37,439 ounces sold at an average realized goal price of $4,197 per ounce. For the six months ended June 30, 2026, GMIN also reported higher revenue growth, returning 31% increase year-over-year reporting $297 million in revenue for the period. Net income reported for the quarter grew by 48% to $72 million or $0.30 per basic share compared to net income of $48.6 million or $0.21 per share for the same period last year. On an adjusted basis, net income was $79 million in the second quarter or $0.33 per share versus an adjusted net income of $36.5 million or $0.16 per share reported for the second quarter of 2025. Adjusted net income excludes a $1.4 million unrealized foreign exchange loss, a $4.9 million loss on the change in fair value of financial instrument, a $0.4 million deferred income tax expense, and a 0.5 million present value adjustment on VAT receivables. Second quarter EBITDA was 106.9 million and adjusted EBITDA was 113.7 million, both matrix performing better than the same period last year. TZ continue to generate strong free cash flow, demonstrating its strong margin profile as we advance OCO West and our fully funded exploration programs across the portfolio. Cash generated by operating activities was $104 million in the quarter, with free cash flow of $85 million after accounting for sustaining capital and other adjustments. During the quarter, cash used in investing activities was $153 million, primarily reflecting OcoWest construction spend. Cash and cash equivalents decreased from $287 million at March 31, 2026 to $226 million at June 30, 2026, reflecting continued heavy investment at Oko West during a peak construction period. We moved from net cash of $248 million at the end of Q1 to net cash of $193 million at quarter end A strong balance sheet position as we fund OcoWest through the remaining construction period. Including the undrawn $350 million revolving credit facility, available liquidity was approximately $576 million. Capital expenditures was approximately $158 million in the second quarter of 2026, comprising of $10.6 million of sustaining capital 8.3 million of capitalized waste stripping, 8 million of capitalized exploration expenditures, and 131.3 million related to development activities at OCOPE. For the first six months of 2026, capital expenditures totaled 266.2 million, comprising of 12.9 million of sustaining capital, 18.9 million of capitalized waste stripping, 0.8 million of sustaining exploration, 13.9 million of capitalized exploration expenditures, and 219.8 million related to development activities at OCO. OCO West Capital guidance remains unchanged with 514 million to 568 million expected in 2026, and $217 million to $240 million expected in 2027. At OCO, cumulative spend to date reached approximately $423 million or about 44% of the approved initial capital budget, leaving $550 million remaining to be spent through completion. Total commitments reached approximately $628 million or 65% of the approved budget. This continues to be a meaningful de-risking point with nearly two-thirds of the initial capital budget now in committed scope. For the six months ended June 30, 2026, GMIN achieved approximately 39% of full-year gold production guidance, which was in line with mine plans. Our 2026 production guidance remains unchanged, at 160,000 to 190,000 ounces of gold. Total cash trust guidance and ASIC has been revised upwards as previously noted to 836 to 965 per ounce sold and 1,330 to 1,544 per ounce sold respectively. For 2027, production guidance remains unchanged at 200,000 to 235,000 ounces of gold, with total cash costs expected to decline to 633 to 743 per ounce sold, and ASIC expected to decline to 977 to 1,146 per ounce sold. The 2027 profile reflects a full year of higher-grade Phase II contribution, Lower Sustaining Capital Compare with 2026, and Continued Operating Maturity at TZ. This concludes my remarks. I will now turn the call back to Louis-Pierre to discuss OKO West and Guru P. Thank you, Julie.