K92 Mining Inc.

Thank you for standing by. This is the conference operator. Welcome to the K92 Mining 2025 Third Quarter Financial Results Conference Call. As a reminder, all participants are in a 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 reach an operator by pressing star then zero. I would now like to turn the conference over to David Metalik, President and COO. Please go ahead.

Thank you, operator, and thanks, everyone, for attending K92 Mining's 2025 Third Quarter Financial Results Conference Call. We hope you and your families are doing well. In addition to myself, we have on the line John Lowens, Chief Executive Officer and Director, and Justin Blanchett, Chief Financial Officer. I would also like to remind everyone that after the remarks from management, the call will be followed by a Q&A session. As we will be making forward-looking statements during the call, please refer to the cautionary notes and risk disclosure in our MD&A and slide 2 of the webcast presentation. Also, please bear in mind that all dollar amounts mentioned in the conference call are in United States dollars unless otherwise noted. Now, I'll turn it over to John to provide you with an overview.

Well, thank you, David, and welcome, everyone. We begin with safety, K92's highest priority. I'm very pleased to share that the company recorded no lost time injuries during the third quarter, marking nine consecutive LTI-free quarters, a notable achievement as activity levels continue to increase with the advancement of our stage three expansion. Over the last two years, there's been a substantial increase in field level risk assessments, hazard identification, safety observations, safety technologies, and safety team capacity and capabilities. all strong leading indicators of a strong safety culture safety always is one of k92's core values and we remain steadfast in our commitment to achieving our ultimate goal zero harm across our workforce now subsequent to the end of the quarter The company achieved a major milestone with the official inauguration of our Stage 3 expansion process plant on September the 16th and the first production of our saleable concentrate. The event was attended by the Prime Minister of Papua New Guinea, the Honorable James Merapi, the Minister for Mining, the Honorable Rainbow Piter, as shown in the photo, other distinguished government representatives, landowners, members of diplomatic and business community, and the K92 Board and project partners. The process plant was delivered safely, efficiently and under budget, making a major achievement for the construction team. The Prime Minister and the Minister for Mining also attended a gold pour at the new process plant, as shown in the accompanying video. Additionally, they conducted a helicopter tour of the mine site and regional exploration areas, as well as an underground tour showcasing several completed major infrastructure upgrades, including the twin incline and material pass, which of course are key enablers for our Stage 3 expansion. In August, we were also honored to host a delegation led by the Mining Minister, the Honorable Rainbow Piter. The in-depth visit showcased the company's key Stage 3 expansion growth projects, ongoing exploration activities, and progress on the Konkua-Billimoia Road Infrastructure Tax Credit Stream project, as well as productive discussions with local community business leaders. K92 remains committed to transparent engagement and open dialogue with all of our key stakeholders. We truly appreciate the support from our stakeholders, which have been a major factor in our success. Now, moving on to operations. During the quarter, the Kanantu gold mine produced 44,323 ounces gold equivalent at a cash cost of $694 per ounce of gold, an all-in sustaining cost of $1,254 per ounce gold. On it. Co-product basis cash costs were $797 per ounce gold equivalent, and all-in sustaining costs were $1,330 per ounce gold equivalent. As annotated on the chart, all-in sustaining costs have been notably higher than cash costs since the beginning of 2023, which of course is due to K-2 significant investment in the Stage 3 expansion. So costs are expected to decline considerably after delivering the Stage 3 expansion, which we'll be discussing later in the presentation. The mill throughput for Q3 was 137,172 tons, which was in line with budget and at a head grade of 11.2 grams per ton, gold equivalent. With more than 80% of the lower end of annual guidance achieved for the first three quarters, plus we ended Q3 with approximately 4,900 gold equivalent ounces in the commissioning stockpile, K92 remains on track to meet its 2025 production guidance of 160,000 to 185,000 ounces gold equivalent. Now, in terms of our key operational quarterly physicals, total material mined of 353,770 tons was a record, and multiple daily tons-to-surface records were also achieved in late September, which demonstrates the increased material movement benefits realized from the commissioning of our first material pass during the quarter, combined with the commencement of surface trucks operating in the twin incline. Total mine development was 2,477 meters. The operation continues to balance lateral development priorities between the completion of key underground projects, including prioritizing of low-equivalent lateral advance jumbo activities such as the Puma Ventilation Drive and the underground Pacefield Chamber. Based a report that development rates achieved a significant milestone in October, supported by a number of the recently completed infrastructure and operational improvement initiatives, a new record was sent for monthly development totaling 1,028 metres. The first time K92 has exceeded the one kilometer per month target outlined in the updated definitive feasibility study for the Stage 3 expansion. Now, this achievement is particularly notable given that since June, one jumbo has been offline at any given time. for an on-site mini-rebuild program aimed at improving equipment reliability. We're now completing the rebuild of the final jumbo, with a completion expected later this quarter. Once finalized, this will effectively increase our active jumbo fleet by one rig, which will further support high development rates going forward. In addition to this, as more key enabler projects are completed, which will be discussed later in the presentation, we expect development and mine physicals to continue to ramp up. Total ore mined during the quarter was 152,485 tonnes, second highest on record, with mining activities across 13 levels at Cora and Judd. Long-haul stoping executed to design. Processed grades benefited from a positive gold grade reconciliation versus the latest independent mineral resource estimate. The stage 2a process plan continued to perform well, exceeding the updated definitive feasibility study recoveries for the sixth consecutive quarter, achieving 95% for gold and 94.6% for copper, which compares to 92.6% for gold and 94.2% in the updated DFS. I'll now turn the call over to our Chief Financial Officer, Justin Blanchet, to discuss the financial results for the third quarter.