5/28/2026

speaker
Carmen
Operator

Good day and thank you for standing by. Welcome to Cerrado Gold's first quarter 2026 financial and operational results webcast. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question, you will need to press star 11 on your telephone. You will then hear a message advising your hand is raised. To withdraw your question, please press star 11 again. Or if you ask a question through the webcast, just type your question and send it through the chat. Please be advised that today's conference is being recorded. Now it's my pleasure to hand the conference over to the Vice President of Investor Relations, Mike McAllister. Please proceed.

speaker
Mike McAllister
Vice President, Investor Relations

Thank you, Operator. Good morning, everyone. I'd like to note that this call may contain forward-looking information that is based on the company's current expectations, estimates, and beliefs. Please review this slide and other forward-looking information contained on page two of today's presentation, as well as in the company's annual information form, which is publicly available on CDAR Plus and the company's website. The accompanying presentation for today's call is available for download from the company's website at www.seratogold.com. The accompanying press release is also posted on our website and our CDAR Plus. Please note that all dollar amounts mentioned on today's call are in U.S. dollars unless otherwise noted. Following management's presentations, as mentioned, we will have a Q&A. Joining me on today's call are Mark Brennan, our CEO and Chairman, Jason Brooks, our Chief Financial Officer, Cliff Hale-Saunders, our President, Ed Gamaris, our Executive Vice President, and David Ball, our Vice President, Corporate Development. I'd like to now turn the call over to Mark Brennan.

speaker
Mark Brennan
Chief Executive Officer and Chairman

Thanks, Mike, and I'd like to thank everyone for joining us today. Our Q1 results have shown steady production and record cash flows. We are confident that we will continue to see strong operational and financial performance moving forward, given the improvements we have made and are making at our operations, the benefits of sustained higher gold prices, and our unhedged gold position. Furthermore, we continue to build on our financial strength while strategically deploying capital for exploration, development, and lower cost production, and driving our project pipeline with the aim to grow production while sustaining a healthy mine life. As part of our developing product pipeline, we are currently looking at a strategy of regional consolidation around our Calandria's heap leach operation, as per the Falcon property acquisition announced earlier this week. Falcon is an advanced exploration project which we believe can be brought into production as an additional heap leach project moderately quickly, contributing to a positive impact on our life of mines. Internally, the greatest concern that management has had regarding MDN was the short life of mine. We believe that the short life of mine has had an impact on how the MDN project is perceived and how it has been valued. With the addition of Falcon, it is Serato management's perspective that the concerns regarding the long-term future potential at MDN have been mitigated and any success with underground exploration or from the 50,000-meter surface exploration program currently underway should foster increased production levels. At our other operations, we continue to advance Lagoa Salgada and hope to be in a position to provide greater detail of our development plans over the next few months. At Montsourcier, we continue on our path to complete our feasibility study by the end of June. Progress with both projects continues to strengthen management's belief that there remains significant value to be unlocked at both projects for Serata shareholders. I'd now like to turn the call over to Jason Brooks to take us through the financial highlights of Q1.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

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Investor presentation