Hello, and thank you for joining us for i-80 Gold Corp.'s 2024 fourth quarter conference call and webcast. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star then the number one on your telephone keypad. If you would like to withdraw your question, please press star then the number two. Thank you. Before we begin, please note that some of today's comments make and take forward-looking statements, which involve risks and uncertainties. Actual results could differ materially. I ask everyone to view slide two of the slide presentation which is available on i-80 Gold Corp.'s website. To view the cautionary notes regarding forward-looking statements made on this call and the risk factors related to these statements. Today's speakers include Richard Young, Chief Executive Officer of i-80 Gold Corp., Matt Gili, President and Chief Operating Officer, and Ryan Snow, Chief Financial Officer. Following today's formal presentation, we will open the call to your questions. Now over to Richard.

Thank you, operator. And good morning, everyone. Moving to Slide four. During the fourth quarter, we announced a new development plan for our portfolio of three underground and two open pit gold projects. In February and early March, we released summarized key operating and financial terms for each of our five projects. We have now filed the preliminary economic assessments for those five gold projects. However, you will not see on our website five TEAs. Under both Canadian and US regulation, you can only have one preliminary economic assessment per property. So we've combined both the open pit and underground at Granite Creek into one technical report. Ruby Hill, which includes Archimedes, and Mineral Point is a second. The third is Cove, and the fourth tech report covers off Lone Tree, which includes our large gold resource, which is currently not in our development plan, and then the process facilities including the autoclave. So because we're now a US registrant, we have to file these technical reports under both US and Canadian regulations. So over the past twelve hours, we have filed four SK 1300s as required under United States regulations as well as four NI 43-101 reports as required under Canadian regulations. US reports are available on EDGAR and the Canadian reports are available under SEDAR plus. Now the key operating and financial terms are identical across both regulatory frameworks, the forms of the reports are largely similar apart from a few minor changes or differences. Updating the PAs was a positive step in three respects. First, improving our disclosure and clarity around our development plan. Second, highlighting the potential value of the portfolio and third, it's pivotal as we put together our recapitalization plan. I want to congratulate the technical team for completing the work in such a…

Thank you, Richard, and hello, everyone. As we do with all our operations meetings, I will begin with our number one priority, here on slide seven, which is safety. We finished the year with a loss time injury frequency rate of 1.27. Our safety performance improved dramatically during the course of the year and I'm proud of the team's absolute focus on ensuring everyone working at our properties returns home safe and healthy every day. Regarding environmental compliance, we maintained our clean record by ending our fourth consecutive year without any environmental violation notices from our regulators. And to emphasize this point, i-80 Gold Corp. has never received an environmental notice since the company's 2021 inception. Turning to 2024 production results on slide eight. At Granite Creek Underground, we mined approximately 38,000 ounces of gold or 71% of our internal target. And produced just above 16,000 ounces of gold after applying the appropriate payability factors and including stockpile build-up at the end of this year. However, the high-grade oxide and sulfide production was 60% lower than planned. But partially offset by unbudgeted low-grade oxide material mined in process at our heap leach facilities at Lone Tree. Mining rates in gold production at Granite Creek were impacted by higher than anticipated rates of water ingress into the bottom bar which delayed our progress on the main decline. And prevented us from reaching and developing additional mineralization zones as planned. Currently, all components of our dewatering system are permitted, functioning, and in operation. The amount of contact water removed from the underground workings has gradually declined from an average of 1,400 gallons per minute in January of 2025 to approximately 1,200 gallons per minute over the first half of March 2025, which is in line with our newly implemented predictive model. With…

Thank you, Matt, and good morning, everyone. Starting with slide twelve to discuss the change in our financial reporting. As of January first 2025, we're reporting with the US Securities Exchange Commission as a domestic filer. And therefore have transitioned from international financial reporting standards or IFRS to US Generally Accepted Accounting Principles otherwise known as US GAAP. This change was made retrospectively with our 2024 financial statements and all comparatives were restated accordingly. You can find the 2024 year-end statements and the first three quarters of 2024 with comparative periods filed on EDGAR, SEDAR plus and on the company's website. Going forward, certain pre-development costs which were previously capitalized under IFRS will be recorded through the income statement as an expense under US GAAP. Until mineral reserves are declared. The main transition adjustments include a capitalization reversal of $80 million for underground development work at Granite Creek and Cove, expensed retrospectively between 2022 to 2024. A decrease to reclamation liabilities and assets, of approximately $16 million due to the inclusion of third-party markup under US GAAP more than offset by a higher discount rate. A transition adjustment related to our convertible debentures resulted in a reclass of $13.8 million from the equity section of our balance sheet to the noncurrent liability section. And lastly, related to the Paycor acquisition, a deferred tax liability of $13.5 million was recorded due to an IFRS exemption not available under US GAAP. This is a result of the purchase price, being higher than the tax basis at the time of acquisition. Additionally, the will serve as i-80 Gold Corp.'s primary disclosure document moving forward and the company will no longer file an AIF. Turning to slide thirteen, gold sales totaled approximately 9,050 ounces, for the fourth quarter, and 21,500 ounces for the year.…

Well, thank you, Ryan. Thank you, Matt. And at this time, we'll now turn the call over to the operator for questions.

Thank you. Ladies and gentlemen, we will now begin the question and answer session. You will hear a prompt that your hand has been raised. Should you wish to decline from the polling process, please press star followed by the two. If you are using a speakerphone, please lift the handset before pressing any keys. One moment, please. Ladies and gentlemen, as a reminder, should you have a question please press star one. There are no questions at this time. I will now turn the call over to Richard for closing remarks.

Well, thank you, operator. Just a couple of things I want to highlight on. I know that the market is awaiting the recapitalization plan. It is well underway. I think that the National Bank Agreement that we've now put in place is a step in that direction along with Aramet. And that it's really a testament to the quality of the tech reports that have been filed and the value they see. There's continued work to be done, but the team's got its head down, and we're looking to execute. We are excited about the next chapter in i-80 Gold Corp.'s future. As we progress those PAs towards the feasibility stage. As we strengthen our balance sheet. To develop our pipeline of projects. So I'd like to thank everyone for their time today, and we are available to answer any questions that you might have offline. Thank you.

Have a great day.

Bye now.

Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and ask that you please disconnect your lines.