Mandalay Resources Corporation

Good morning, ladies and gentlemen, and welcome to the Mandalay Resources Corporation Q4 and DUN 2023 conference call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. This call is being recorded on Friday, February 23, 2024. If at any time during this call you require immediate assistance, please press star zero for the operator. This call contains forward-looking statements which reflect the current expectations or beliefs of the company based on information currently available to the company. Forward-looking statements are subject to a number of risks and uncertainties that may cause actual results of the company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from the current expectations are disclosed under the heading risk factors and elsewhere in the company's annual information forms dated March 31st, 2023, available on CEDAR and the company's website. I would now like to turn the conference over to Mr. Frasier Boucher, President and CEO. Please go ahead, sir.

Thank you, operator, and welcome, everyone. Joining me on this fourth quarter and year-end 2023 financial results conference call today is Ryan Osterberry, our Chief Operating Officer. Nick Dwyer, our transitioning Chief Financial Officer, and Chris Davis, our Vice President of Operational Geology and Exploration. Mandalay Resources released its 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. But Mandalay showcased resilience and the effectiveness of various strategic initiatives by mostly overcoming numerous and various production challenges we encountered predominantly in the first half of 2023, including production interruptions from weather events, loss of some key mobile equipment, labor shortfalls, and mail throughput reductions. However, both sites demonstrated stronger second half year performance. And on a consolidated basis, we finished with a much better fourth quarter, concluding the year on a positive note and enabling the company to meet its revised 2023 production guidance, yielding a total of just about 90,000 gold equivalent ounces. The continual operational improvements throughout the year to get back on track were complemented with an impressive safety record, maintaining lost time and medical aid incident rates below industry averages. In 2024, we are anticipating a steady operational tons and ounce production profile within an annual production of between 90 to 100,000 gold equivalent ounces. 2024 will be a critically important year for the company as we build upon the stable operating platform of our company's two underground mine gold-producing assets in Tier 1 geographies. A primary focus remains on tracking key lead operational metrics to effectively preempt potential risks to the 2024 plan. The goal for the year is to enhance are operational success and cash flow generation. And another key objective in 2024 is to replace mine depletion at both mines and extend the mine life again across your field. Opportunities remain for expansion in existing mineralized areas and the discovery of new near-mine deposits exist at both sites. The strategic emphasis remaining on organic growth coupled with promising external opportunities, position 2024 is an exciting year for Mandalay. Now reverting back to and reflecting upon Q4 2023, I would like to hand the call over to different members of my team to recap this past quarter for Mandalay, starting first with Ryan, our Chief Operating Officer.

Ryan? Thanks, Fraser.