Major Drilling Group International Inc.

Good morning, ladies and gentlemen, and welcome to the fourth quarter 2021 results conference call. I would now like to turn the meeting over to Ms. Chantal Melançon. Please go ahead, Ms. Melançon.

Thank you, and good morning, everyone. As mentioned, we would like to welcome you to Major Drilling's conference call for the fourth quarter of fiscal 2021. On the call, we will have Denis Larocque, President and CEO, and Ian Roth, our Chief Financial Officer. Our results were released yesterday evening and can be found on our website at www.majordrilling.com. We also invite you to visit our website for further information. Before we get started, we'd like to caution you that during this conference call, we will be making forward-looking statements about future events or the future financial performance of the company. These statements are forward-looking in nature, and actual events or results may differ materially from those currently anticipated in such statements. I will now turn the presentation over to Denis Darroch. Please go ahead.

Thank you, Chantal. Good morning, everyone, and thank you for joining us today. Due to the continuous improvement in activity level, I'm proud to announce today that for the fourth quarter of 2021, major drilling achieved its best quarterly revenue since 2013. Most of the revenue growth came from North America, which had a very busy ramp-up quarter, where activity has now well surpassed pre-pandemic levels. Go projects remains the key driver as we saw both senior and junior miners increase their activity. Despite some project timing delays in South America and in Asia caused by the pandemic, revenue for this quarter increased by 44% compared to last year as activity grew steadily during the quarter and beyond. which provides a strong indication that we are well into the early phase of a mining upcycle. The strong growth experienced in North America during the quarter impacted margins, as was seen in previous upcycles, due to the ramp-up costs related to training, mobilization, and set-up costs to meet this strong pickup in activity. Other regions were impacted by delays in logistics logistical challenges relating to the pandemic. Looking to the fiscal year, despite pandemic-related headwinds felt across the industry, the company was able to return to profitability and produce its highest revenue over the last eight years. And we are still very early in this mining up cycle, which I'll discuss when talking about the outlook. Subsequent to the quarter end, we announced the acquisition of McKay Drilling PTY with operations primarily in Western Australia, a key geographic region in the industry where major drilling does not have a presence. This highly accretive acquisition is a meaningful part of our growth strategy, providing us with immediate cash flow and a strong foothold in an important growth market with high barriers to entry. In addition to a fleet of state-of-the-art rigs, we welcome aboard a highly experienced team with local knowledge, longstanding regional relationships, and existing contracts with leading blue chip mining companies. Importantly, McKay and Major Drilling share similar cultural values, operational practices, and a dedicated approach sustainable resource development consistent with our global ESG framework. With that, Ian will walk us through the quarter's financials. Then I'd like to discuss our market outlook further before opening up the call for questions.