Mandalay Resources Corporation

Good morning and welcome to the Mandalay Resources Corporation Q3 2023 conference call. All participants will be in listen-only mode. Should you need assistance, please email conference specialists by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then when you touch the home button. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Frasier Boucher. President and CEO of Mandalay Resources. Please go ahead.

Thank you, Operator, and welcome. Joining me on this third quarter 2023 Financial Results Conference call today is Ryan Osterberry, our Chief Operating Officer, Nick Dwyer, our Chief Financial Officer, and Chris Davis, our VP of Operational Geology and Exploration. Mandalay Resources released its Q3 2023 financial results at market close yesterday. You can find our consolidated financial statements and MD&A on the Mandalay Resources website or under our profile on CDAR. Reviewing our key deliverables and outcomes this past quarter, we produced 22,032 consolidated saleable gold equivalent ounces, our highest production so far this year. Cash cost per ounce of gold equivalent produced was $1,084. All in sustaining costs per ounce of gold equivalent produced was $1,436. Consolidated quarterly revenue was $40.9 million. Consolidated quarterly adjusted EBITDA was $15.4 million, and cash on hand at the end of Q3 2023 was $21.7 million. My team will provide further details about the third quarter operating and exploration activities during this call. With the past quarter still slightly below our expectations in some regards, I am encouraged by the course correction reflected, this leading to what should be our strongest year-to-date results next quarter to finish the year. We anticipate further improvements at Kosterfield, predominantly underpinned by mining higher-grade soaks in our Yule deposits, as well as mostly resolving the mill throughput challenge arising from ore hardness of the transition shepherd ore body below Ewell, which temporarily restricted throughput by about 14%. At Bjorkdal, the production profile should remain steady as the site continues to ramp up mining and development in the higher grade eastern extension zone, as well as commencing our 200,000 ton per annum mill upgrade commissioning. planned for later this year. And as for site organic exploration, work continues and the top priority for Mandalay is maintaining and building our ore streams at both operations, discovering equivalent profitable ounces from both near mine and regional drill targets. I would now like to hand the call over to Ryan, our Chief Operating Officer.

Ryan? Thanks, Fraser.