Orla Mining Ltd

Good morning, ladies and gentlemen, and welcome to Orla Mining's conference call for the first quarter 2023 results. My name is Emma, and I will be your conference operator today. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star, followed by the number 1 on your telephone keypad. If you would like to withdraw your question, again, press the star 1. Please be advised that this call is being recorded. I would like to turn the meeting over to Andrew Bradbury, Vice President of Investor Relations and Corporate Development for Orla Mining. Please go ahead, Mr. Bradbury.

Thank you, Operator, and welcome everyone to Orla's first quarter 2023 results conference call. We will be making forward-looking statements during today's call, and I direct you to the first and second slides of the presentation, which contains important cost-sharing notes regarding these forward-looking statements. All dollar amounts discussed today will refer to U.S. dollars, unless otherwise indicated. On the call this morning is ORLA's full executive team. I'll now pass the call over to President and Chief Executive Officer Jason Simpson. Thanks, Andrew. Our first quarter was highlighted by First, our efforts in sustainability, which underpins all of our activities. This includes strong health and safety performance, sound environmental management, and creating value for our stakeholders. We had another consistent operating quarter at Camino Rojo processing above nameplate capacity. With one quarter completed, we are on track to meet gold production and all-in sustaining cost guidance for 2023. Also, our balance sheet continues to strengthen and was improved even further in May when Agnico Eagle exercised their top-up rate with a $25 million Canadian dollar investment in Orla. Thank you to Agnico who continue to support our company. Andrew Cormier, our Chief Operating Officer, will provide a summary of the quarterly operating results, and Etienne Morin, our Chief Financial Officer, will provide an update on the financial details. Over to you, Andrew.

As always, we lead with safety, and Camino Rojo has maintained a strong safety culture as we enter our second full year of operation. During the quarter, site activities continue to focus on optimizing the mining, crushing, stacking, and process plant operations. For example, our maintenance teams have been building up our preventative maintenance program to identify opportunities to further reduce our operating costs and increase our equipment operating time. 1.9 million tons of ore were mined at a strip ratio of 0.61 and an average grade of 0.72 grams per ton of gold. Mine waste tons were lower during the quarter as access was limited in certain areas of the pit as we await the necessary permit amendment. We expect to mine lower waste tons in the second quarter, but still mine the planned waste tons in the second half of the year. This will be reflected in our costs as we expect higher strip ratio in the second half of the year. The 2023 strip ratio is expected to be about 1. The average grade of ore processed during the first quarter was 0.8 grams per ton of gold. An average tracking rate of 18,902 tons per day was achieved, again, above nameplate capacity. Mined ore tons and grades are reconciling well to the block model, and process recoveries to date are in line with the medical recovery model. The consistent delivery of the Camino Rojo mine production and cost gives us confidence to grow our growth plans. I will now turn the call over to Etienne Morin, Orange Chief Financial Officer, to discuss the financial results of the quarter. Etienne?