Ivanhoe Mines Ltd.

Good day and welcome to the Ivanhoe Mines Q1 2022 Financial Results Conference Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to the Manager of Investor Relations, Matthew Keeble. Please go ahead.

Thank you, operator. Hello, everyone. My name is Matthew Keeble, and I'm the Manager of Investor Relations for Ivanhoe Mines, dialing from sunny Cape Town, South Africa. It is my pleasure to welcome you to Ivanhoe Mines Q1 2022 Financial Results Conference Call. We will finish today's event with a question and answer session. You can submit a question using the Q&A box on the webcast page, as well as through the conference operator via your phone line. Given our time constraints, we will likely be unable to answer every question. Our apologies if we run low on time. Please follow up with our IR team with further questions. Before we begin, I'd like to remind everyone that today's event will contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Details of the forward-looking statements are contained in our May 10th press release, as well as via CEDAW and our website at www.ivanhomeminds.com. It is now my pleasure to present our founder and executive co-chairman, Robert Freeland, for some opening remarks.

Robert? Thank you very much to all of our listeners. Most of your management is sitting in Cape Town, South Africa, giving the large Ndaba conference for us. I'm going to be speaking tomorrow morning. We're very happy to present our first quarter 2022 financial results. A lot of the numbers speak for themselves, but I'd like to offer a few comments. The best numbers associated with the copper production of other mines are associated with the fact that we produce less global warming gas per unit of copper produced than our competitors. And that's the same reason why our cash costs are actually dropping. The genetic reason is simply that when you have those big yellow trucks, and you're moving larger and larger volumes of rock in those big yellow trucks, you're addicted to hydrocarbon. And when the hydrocarbon goes up, due to war or any other eventuality, there's no way around it. Your costs have to go up. Kamokagula is a mine powered essentially by hydroelectricity. And within two years, when I'm on the electric fleet, there'll be no exposure to hydrocarbon at all. So we have a very, very good business at $4 a pound copper, lower than we're trading today. And we have an extremely good business even at $3 copper, occupying the bottom of the world's cost curve. We believe as our production continues to grow dramatically, we'll be amortizing an ever larger productive base against fixed overheads. And when our green smelter comes in production late in 2024, cash costs will drop even further. So I want to thank the thousands of people that have worked so hard to make this a sustainable and different mining operation. And given exogenous circumstances having nothing to do with us, there's a sale on now with artichokes, $5 for a dollar at Safeway. So we're going to present our management team and our numbers. We'll put this over to questions. I'm Robert at IVNO.net if anybody would like to email me directly. And with that, let's go on to the next stage of the call. Thank you.