Major Drilling Group International Inc.

Then press star 1. A system tone will be heard when your request has been accepted. To cancel your question, press star 2. Veuillez patienter, votre conférence commencera sous peu. Pour poser une question, appuyez sur étoile 1 après que le modérateur ait débuté la conférence. Une tonalité du système confirmera que votre demande a été acceptée. Pour annuler votre question, appuyez sur étoile 2. This conference has been recorded. Cette conférence est enregistrée.

Please stand by. Your meeting is about to begin. Good morning, ladies and gentlemen, and welcome to the second quarter 2023 results conference call. I would like to turn the meeting over to Denis Laroque, President and CEO. Please go ahead, Mr. Laroque.

Thank you, and good morning, everyone. As mentioned earlier, We'd like to welcome you to Major Dwelling's conference call for the second quarter of fiscal 2023. On the call with me today is Ian Ross, our CFO. Our results were released yesterday evening and can be found at our website at majordwelling.com. Before we get started, I'd like to caution you that during this conference call, we'll be making forward looking statements about future events or 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 must say we're very happy with our second quarter results as we saw continued strength of demand for major drilling services, especially for our complex specialized drilling services, which again, drove solid quarterly results. During the quarter, we began to see the growing importance of electric vehicles and electrification market with increased demand from copper and battery metal customers. Combined with increased activity from all three of our geographic segments, driven mostly by seniors, this more than offset the slight softening in activity from junior miners. As well, our operational leverage continued to be strong as an 18% increase in revenue produced a 65% increase in net earnings, helping to bring in an additional $43 million of net cash during the quarter. At the same time, we continued to modernize our fleet, purchasing 14 new rigs, including seven underground drills in line with our diversification strategy, which allows us to offer a modern and productive fleet to our customers, in order to meet the growing demand in the industry. After a strategic focus to diversify our services, I'm proud to say that we now offer one of the most modern underground fleet in the industry. As we continue to move through the current cycle, major drilling's core strategy remains to be the leader in specialized drilling, as new mineral deposits will increasingly be located in areas more challenging to access or requiring complex drilling solutions. We are committed to providing top-quality service to our customers through safe and productive drill programs, as evidenced by our industry-recognized hold completion rates. We leverage our worldwide expertise and utilize our strong financial position to ensure we have the equipment and inventory required to be best-in-class service providers. With our continued focus to be an industry leader with respect to ESG, we issued our inaugural sustainability report during the quarter, highlighting the tremendous efforts of our organization across the globe to help improve the communities in which we operate in. The collaborative efforts from our board to our teams in the field ensure we are aligned as a company to progress our ESG initiatives and it remains a priority moving forward. With that, Ian will walk us through the quarter's financials. Then I'd like to discuss the market outlook before opening up the calls for questions. Ian?