Thank you for standing by, and welcome to the Gold Road Resources June 2024 quarter results call. All participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. If you wish to ask a question via the phones, you will need to press the star key followed by the number one on your telephone keypad. If you wish to ask a question via webcast, please enter it into the Ask a Question box and click Submit. I would now like to hand the conference over to Mr. Duncan Hughes, General Manager, Corporate Development and Investor Relations. Please go ahead. Thank you, Darcy, and welcome everyone to our June 2024 quarterly analyst call. The presentation today we will be referring to the quarterly results slides that can be viewed on the live webcast, our website, or the ASX release. Those on the webcast and on the phone are able to submit a question for us to address at the end of this call. On the call today, we have Duncan Gibbs, Managing Director and CEO, John Mullumby, Chief Financial Officer, Mark Lindsay, General Manager of Discovery, and Keely Woodward, our Joint Company Secretary. Moving to slide 3 now for summary of the June quarterly results. Gruyère continues to operate safely, but reported one lost time injury during the quarter. As announced in March and at the beginning of April, Gruyère was severely impacted by a protracted rain event that resulted in the Great Central Road, the main access route to Gruyère, being closed for a total of seven weeks. Operations continued to be suspended for the of April and in recovery most of the remainder of the month. Despite a solid recovery, whereby mining and processing rates hit record highs in May, gold production for the quarter was still subdued at 62,535 ounces. And the lower ounces obviously resulted in a higher all-in sustaining cost of AUD 2,441 per ounce. Gruyère's operating cash flow increased quarter-on-quarter to AUD 74 million, and cash and equivalents ended the quarter at AUD 86 million, after we invested AUD 51 million in the De Grey equity raise and paid a one-off AUD 23 million tax payment on the 2023 tax year. Gold Road continues to make good progress with its Yamarna Mine Readiness Project. And on the regional exploration front, we have some very encouraging rock chip results from outcropping mineralization at our new Balter and at the Galloway project. I'll now hand over to Duncan Gibbs to talk through our quarterly results in more detail. Thanks, Duncan, and, firstly, welcome back from the holiday of the Turning Fifty Cycling Tour of Europe. I'm sure everybody will be very interested in that as well. Okay, and thanks for everybody today for joining us. As Duncan has noted, the operations at Gruyère were impacted by the protracted road closures, with processing and mining operations continuing to be suspended in the first half of April and in recovery mode for the remainder of the month. During the rain events and the seven weeks of closure, mining continued, but with a focus of mining of ore, of course, and as a result, the mine has fallen behind on waste stripping, effectively putting us 2-3 months behind on waste movement in the key stage 4 pit area. After the challenges of April, mining movement stepped up to record rates in May. We mobilized a new 600-ton face shovel in June, which is now commissioned and fully operating. And as you'll see from the numbers, we achieved the same mining volumes in effectively two months, you know, the operating part of the quarter versus the, you know, what we were achieving in full quarters of operation in the second half of 2023. The mine is now fully resourced and staffed to recover the deficits in mining and set up the operation for a much stronger performance in 2025. Limited areas available for ore mining resulted in mining 1 million tons of ore at a grade of 1.33 grams per ton, and of course, a heavy reliance associated with that on high-grade stockpiles to fill the mill. Ore milled for the quarter totaled a respectable 2.08 million tons, despite the limited operations in April. The plant resumed operations really in the second week of April. However, milling rates were constrained until the end of the month, as we shipped about six road trains of mill balls the long way, 9,000 kilometers, via the Northern Territory and effectively got the SAG and ball mill up to normal ball charges and associated with that throughput rates. But putting all of that together resulted in the key numbers that you can read on the slide. So 100% gold production of 62,535 oz, an all-in sustaining cost of AUD 2,441. Attributable gold sales of 31,216 oz at AUD 3,532 oz. Of course, all of that was spot with no hedging. Gold doré and bullion at the end of the quarter, total of 1,879,000 oz or approximately AUD 6 million, a little under AUD 6 million at gold prices at the end of the quarter. A corporate all-in sustaining costs, you know, the metric that at least some of the broking fraternity are using, is simply the, you know, in simple terms, all of the costs divided by the ounces, sat at AUD 3,106. So clearly, up quite a lot, given the lower ounce production for the quarter. However, despite the rain gods, we effectively still made a strong operating margin. As I've noted, and so diving into a bit more detail than perhaps we would normally on the operation, mining's really the critical issue at Gruyère. So give you a bit more color on that. And, you know, that's important for the remainder of this year, and more importantly, for 2025 and beyond. So from the middle of the June quarter, the mine has really made a big step up in mining rates, which reflects, I guess, a number of factors. That includes an additional fleet coming to site. That includes a shiny new 600-ton face shovel that was commissioned in June. The commissioning and startup of that seems to have gone very smoothly. Associated with that, we've mobilized additional trucks and other equipment. There's still a couple more trucks to come into Gruyère. But the mine, pleasingly, is fully staffed for the higher mining rates, and certainly we're benefiting from the big change in the mining labor market, which reflects the downturn in some of the other commodities in, in, Western Australia. But Thiess, now as the new owner of MACA, of course, they've been very supportive in recapitalizing the fleet, most of the, the mining fleet and, of course, the drills, which, have been done over the last couple of quarters. They've also made some quite significant changes to sort of leadership, business processes, and systems, consistent with what you'd expect a tier one contractor to be able to deliver. So we're pleased with how things are progressing in that direction. There's still plenty to be done. Gruyère is now positioned, we see, to lift total mining movement rates around about 70 million tons. We've still got a bit of way to get there, but, certainly that's sort of the level we're looking at, getting to, which recovers the current shortfall in waste movement. And as I said, that really starts to set us up for much stronger performance in the future. September quarter clearly is gonna have some ongoing challenges with ore availability as we recover the face positions in the stage four pit. But ore availability improves strongly in the center of the quarter, and then, we expect to be positioned for, you know, what we foresee at this stage is a very strong delivery in 2025. Okay, I'll now hand over to John to provide the financial summary. Thanks, Duncan. On the screen here is the usual waterfall, providing a breakdown of our cash flows for the quarter. As Duncan has already outlined, a solid operating result for the quarter, despite the impact of the rain, translated into gold sales and revenue of AUD 110 million, and provided Gold Road with AUD 74 million of operating cash flows. These results represent increases of 10% and 30% respectively on the prior quarter, which I believe is a good demonstration of the potentially strong financial cash result that would have been delivered in Q2, except for the rain disruptions. As you'll see on the right-hand side, we finished the quarter with AUD 86 million of cash and equivalents on hand, which included AUD 6.6 million of doré and unsold bullion. This reduction of AUD 60 million from the end of March to June was primarily a result of AUD 51 million invested in the De Grey equity raise earlier in the quarter, and tax payments of AUD 29 million, of which AUD 23 million was in respect of the record net profit result from 2023. Going forward, as our monthly tax installment rate to the ATO increases, we expect this profile of cash tax installments to be much smoother across the year. And when we normalize our ad hoc investment to De Grey, AUD 51 million, our net cash outflow of AUD 16 million for the quarter becomes a marginal free cash outflow of AUD 9 million. I would also point out that on the screen right now, in the operating cash flow result, you're currently looking at, this includes AUD 11 million of costs from the rainfall event that we've excluded from all the sustaining costs for the quarter. If we were to allow for those costs and normalize further, then the free cash flow result becomes positive AUD 2 million for the June quarter. I'll just finish up by once again reminding everyone on the screen, on the call, of Gold Road's financial strength as we remain debt-free at almost AUD 0.6 billion of liquid assets to hand, between our AUD 86 million of cash and investments that were valued at almost AUD 0.5 billion at the end of June, and prudent debt facilities in place that are undrawn and available for use at any time going forward. Thanks. Now back to you, Duncan Gibbs. Okay, thanks, John. So look, as a result of the rain closures and road closures and what have you, we've during the first half and where we see things with costs, we've taken a look at guidance. Our revised production guidance now at 290,000-305,000 oz, of course, overlaps with the bottom range of the previous guidance of 300,000-335,000 oz. And we're now gonna emphasize that Gruyère is pushing hard to deliver within that original guidance band, and certainly why we see, we see that as possible. It doesn't provide any kind of margin for, you know, any unexpected disruptions that can and do happen in mining. Clearly, we're not going to be making, you know, multiple downgrades in guidance if any unforeseen issues occur. On costs, we're seeing some higher numbers, and that's probably really what's driving the guidance revision. And clearly, we'd be outside of guidance, even if we delivered the better than 300,000 oz that we're still trying to shoot for. At the revised guidance, on costs sitting now at AUD 2,050-AUD 2,200 per ounce, and contributing factors to those higher costs include, I guess, the encouraging bit, which is the higher gold price, which is lifting royalty payments to around about AUD 30, or lifting royalty payments by about AUD 30 an ounce. And I mean, obviously, the positive of that, of course, is much higher gold revenues. We've got a bit of an increase in sustaining CapEx. The main item there is the TSF. We've had some unexpected costs there in conditioning some of the clay material, for the clay liner for the dam. Shouldn't have that going forward. We've put into better controls for the longer term. Then there's quite a few sort of non-cash adjustments which arise primarily from the rain events and the fact that we've had to change bits of the mine plan around and continue processing all stockpiles that, you know, results in changes of, you know, inventory coming in and out, that wasn't, you know, how we were planning to, set up the year at the beginning. Okay, I'll now hand over to Mark Lindsay. He's got a bit to talk about, about exploration. So over to you, Mark. Thanks, Duncan. Discovery, of course, has the potential to create the greatest value at the lowest cost, and that's why we're here, to make a discovery and deliver value to shareholders. Our very clear focus as a discovery team is to develop the resources that Gold Road has already discovered within our tenements. For example, the Yamarna Mine Readiness Project. And of course, discover new gold deposits that can be developed as standalone operations. This quarter has seen strong results returned for drilling below the Gruyère pit by the Gruyère JV. There's been great progress and results in our Yamarna Mine Readiness Project, and field work is underway across most of our regional projects. And that has delivered some very encouraging out plus rock chip results. Following the rain event, drilling recommenced at Gruyère and is targeting areas below and to the north of the current ore reserve. The first four diamond holes have been completed for approximately 3,000 meters, and during the quarter, assay results for two of the holes were returned, with the notable result being 142 meters at 1.78 grams per ton gold. The thicknesses in both holes were as anticipated, with hole 2401 returning higher grades than nearby existing results. Gold Road is continuing with the development of its 100% owned Yamarna assets, currently sitting at about 500,000 oz, as part of the Yamarna Mine Readiness Project. The Yamarna mineral resources are anticipated to be developed into production by Gold Road, and processed at Gruyère via toll treatment provisions under existing agreements with Gold Fields. The Gruyère development option provides a pathway to monetize the 100% owned discoveries, and realize value from Gold Road's exploration program. Work this quarter has focused on the 300,000 oz Gilmour gold deposit. Baseline environmental studies across the project area were undertaken, including flora, fauna, subterranean fauna, short-range endemics, groundwater, surface water, soil, and material characterization studies. We have progressed Native Title agreement negotiations with the Yilka, and we are targeting mine readiness for Gilmour in 2026. The Gilmour ore reserve definition drilling program is designed to increase the drill density to enable declaration of an upgraded mineral resource and ore reserve later this year. Several excellent results have been returned, with the best of two meters at 43 grams per ton, and that includes 0.36 meters at 238 grams per ton. The results are in line with expectations and reinforce the continuity of the main lode at Gilmour, a very pleasing result. Drilling also tested strike and plunge extensions, with encouraging results returned at Gilmour North, including seven meters at 6.65 grams per ton. We think this is encouraging, as it demonstrates the potential for additional resources along strike from known mineralization at Gilmour. On the slide, note the depth and plunge extensions to the ore shoots remain open. Assay results from the recent drilling are pending, and additional drilling is planned for later this year. The fieldwork was undertaken across most of Gold Road's 100% owned exploration projects in the quarter. After the rain delay at the start of the year, it's been really great to see boots on the ground work across most of our projects, including mapping, rock chip sampling, and soil sampling. Excellent rock chip results were returned for Balter of 37 grams per ton, or more than an ounce, and at Galloway of 53 grams per ton, or almost 2 oz. This is very exciting, as the results validate the potential for both projects to host high-grade gold mineralization. Balter rock chips correspond to leucosomes. These are quartzofeldspathic segregations that occur in high-grade metamorphic rocks. This is not the normal host of gold in WA, however, this is the style of mineralization at the world-class Tropicana Gold Deposit, a deposit well known by several Gold Road geologists, including our managing director. I'd also like you to note that Balter, the Balter prospect hosts two greater than 5 km long gold and soil anomalies, a very encouraging sign. This is an exciting prospect. Exploration on the other side of the country, in North Queensland at Greenvale and Galloway, is focusing on intrusion-related gold mineralization. Now, that includes nearby examples of Kidston, 3.7 million oz deposit, and Mt Leyshon, a 3.5 million oz deposit. On the Galloway project, we are applying a new geological targeting concept to a fertile area with anomalous multi-element geochemistry. Sampling during the first field visit, returned remarkable rock chip assay results of 53.6 gram per ton from an outcropping multi-stage breccia. This was an outcrop on the side of the road on the way into the main prospects. We are excited to have drill programs planned for Mallen, Balter, and Greenvale, and these are likely commencing in late August or September. I'll hand back to Duncan Hughes. Thanks, Mark. Final slide to summarize the quarter. Gruyère operations have been through a challenging first half, but we showed in May that this operation can deliver at mining and processing rates needed to sustain our target of 350,000 ounces per annum. We're very encouraged by what we see in the step-up in mining performance. We have the fleet and the people in place. However, we will be working through a period of limited ore availability in the September quarter, but anticipate a much stronger December quarter and much better delivery in 2025. Gruyère still has a strong and long life. On the growth front, there were several sources of encouragement, including the better than anticipated deep drilling results at Gruyère, which support the potential to grow reserves here for future pit expansions and/or underground mining. Good progress in Gold Road's Yamarna Mine Readiness Project was achieved, and some exploration upsides obviously being talked through by Mark at Gilmour, and these will be tested in the second half of the year. There are some encouraging rock chip results from outcropping mineralization at Balter and Galloway. And of course, our ongoing strategic interest in De Grey continues to provide multiple alternative options to create value for Gold Road shareholders. Gold Road remains in a strong balance sheet position. It's debt-free and unhedged, despite the environmental challenges in the first half of the year, a AUD 50 million investment in De Grey and a AUD 23 million one-off tax bill in the quarter. That brings our results presentation to a close. I'll now hand back to Darcy for any questions. Thank you. If you wish to ask a question via the phones, you'll need to press the star key followed by the number one on your telephone keypad. If you wish to ask a question via the webcast, please type your question into the Ask a Question box and click Submit. Your first question comes from Bradley Watson from Bell Potter Securities. Please go ahead. Good morning, everyone. Thanks for the call. I've got sort of three questions. The first question, is there any possibility of getting an idea on the mill throughput in April, please? Look, don't have that breakdown, but April was, you know, strongly, I mean, frankly, the plant didn't operate for the first half of April. And, as I spoke to, we were really getting, you know, Gilmour, ball and SAG mill charge back up to normal levels, through that month. So, you know, we were well below the normal throughput rates. Pleasingly, we did, once we'd recovered all of that, I mean, we saw actually record throughputs through May. We came off a little bit in June, just with some additional scheduled maintenance through the month of June, but, you know, May was a record month for the site. Okay, thank you. Second question, you've got in the report, it says 3 million tons of stockpiles at the moment. Though, is it possible to get an idea on how much of the stockpile you think you'll consume throughout the next half? And then, you know, perhaps in the forward plan, you know, is the stockpile sort of naturally replenished a little bit once you get back to getting into that high-grade ore and feeding that first? Well, I think you could kind of back calculate that by, you know, our guidance numbers. So clearly, we're gonna be processing, you know, a reasonable amount of stockpile material, particularly during the September quarter. We clearly will have, you know, 1-2 million tons of stockpiles left at the end of this year. By the time we get, you know, where the current focus in mining is in the stage 4 pit area, and once we get another couple of benches turned over there, we actually then, which we anticipate being in that position by the end of the year, we actually get back to the point where we can mine ore at a much higher rate than the plant requires. So we're yet to put the details of next year's plan and budget together, but I'd anticipate us being in a position where we can rebuild some stockpile inventories, and end up with a lot more robust performance into the future years of the operation. Okay, thank you. And the last one, you did discuss that you hope to still sort of get into that 300,000 oz production for the year. Is it fair to conclude from that, that you've sort of built in the possibility of some disruption, further disruption into the new guidance? Yeah, look, and we, we'd say, I mean, the, you know, guys at Gruyère have really worked the plan and schedule for the second half of the year very hard. We've been through multiple iterations of that, you know, within the joint venture. We see, you know, getting to 300 is entirely possible, but, and, you know, they're striving very hard to get there, so we're very encouraged about the commitment on the ground. The reality is, there's just things that can happen beyond management control and, you know, it doesn't take much for us to sort of drop below that. So, you know, as I've kind of flagged, we don't want to be in a situation where any kind of operational disruptions or delays or what have you, means that we've got to do yet another guidance downgrade. So we are factoring in, you know, kind of below 300, but, you know, it covers reasonable foreseeable events, if you kind of understand what I mean. Yeah. Okay. Thanks very much. Thank you. Once again, if you wish to ask a question, please press star one on your telephone and wait for your name to be announced, or type your question into the Ask a Question box. There are no further phone questions at this time. I'll now hand the conference back to Mr. Hughes for webcast questions. Thank you very much, Darcy. There are a couple of webcast questions. The first one is from Hayden Bairstow at Argonaut Securities. Just asking, can we talk through material movements and how we recover the volumes going forward? How long does a 2- 3 month delay take to catch up? Is the 70 million ton per annum total material movement rate within reach this year? And should we assume a similar rate for the year 2025 and 2026? Look, so the 70 million tons expect to be kind of traveling at that rate as we come out of the year. If we do that, I mean, this year will be up around 60 or so in total for the year, given, you know, the shortfalls with rain and everything in the first half of the year. In terms of what we do beyond that, we're still looking at that. There is potentially motivation to hold a higher throughput rate. And, I mean, that sort of guarantees that we can fill the mill longer term. But there may be some value in how we schedule Gruyère versus Golden Highway by, running at a higher rate. We're really working within the joint venture to have both of those options alive, so we're still very much focused on having Golden Highway ready to mine by 2026. But there's, I guess, a bit of detail there as to where that lands, but, and with the fleet we've got now, we've got the optionality to move it up or down a bit. I guess, in terms of, you know, recovering those volumes, like, I mean, we're pretty confident we're gonna recover the volumes by year-end, in effect. We're well on track to recover that kind of delay. I mean, that's really where we sat at the, you know, once we kind of got through the rain event and got things up into operation. They're working very aggressively to mine up, you know, turnover bench rates in stage 4. It's clearly going to continue into the September quarter, but December quarter, I mean, I expect to be, by the end of the year, really in a very good ore supply position. Okay, the next one is from Bruce Kendall at Lion Selection Group. How much of the increase in all-in sustaining costs is due to lower ounces, and how much is general inflation affecting these costs? What is the underlying inflation rate for the industry generally in Western Australia? Yeah, look, I mean, I think inflation's really come off a lot in mining. You know, the inflation rates we're seeing are pretty typical with sort of general in, you know, CPI type of inflation in the sector. And, you know, importantly, things like labor availability, which I spoke to, has eased up a lot now. I mean, wages don't tend to go backwards, but I think they're gonna level off quite a bit. The encouraging sign there, of course, is just better people and people being available, which helps drive activity, of course. You know, I think if we—I mean, the way we kind of look at it, is we're still striving to do 300,000 oz of production. But even if we did that, we'd be over on the cost guidance. So the main motivation of changing guidance has been the cost issue. And as I've called out, really, that's driven by some one-off kind of issues with, you know, tails dam, high CapEx, gold royalties, and there's a whole bunch of non-cash kind of adjustments flowing through there. So it's really those issues rather than inflation per se, kind of, driving the revision. Thanks, Duncan. One here from Peter. He's just asking, there's been quite a change of leadership at Gold Fields over the last few years, your joint venture partner. Any comments on how that's been felt at Gruyère? Yeah, look, I mean, this is true. I think it's Gold Fields' job to talk about Gold Fields, but, you know, new CEO, Mike Fraser, of course, and Martin Preece, new Chief Operating Officer. You know, they've implemented a new operating model across their business, and that includes some quite substantial changes to the Australian region on how that's managed. And then at the site level, we've got a new general manager up there, Russell Cole, who's doing a great job. So look, I mean, you know, I think it's for Gold Fields to talk to the detail of all of that, but, I mean, we're very supportive of the changes that have been made, and we see that as being quite positive for Gruyère and for the future. Thanks, Duncan. This one probably for John, and I'm not sure how much you'll be able to say on this, but Garrett from the ABC is just asking a little more on the cost of reestablishing road access and how much of that may or may not be recoverable from insurance, and if you could give any detail on the likelihood of receiving that and when we might. Sure. Thanks, Duncan. So that AUD 11.3 million was a 100% property damage increase, cost of operations experienced in the remediation from the rain event and the road repairs. The claim is in progress, being managed by our JLT partner over in London. We will keep the market updated if there are any material developments over the course of this year. There is the potential for some interim cash settlements rather than lump sum. Thank you. Perhaps I can just add to that one. So, I mean, we work very closely with Shire of Laverton, so part of that cost relates to roads. So we work closely with the shire to kind of sort out some of that. And looking at the insurance claim, I mean, obviously there's a component there that's a deductible. I mean, normally these things are subject to kind of commercial negotiation with the insurers. Thanks for that. And the last one on the webcast was from Linda. She's commented on the good surface results from Balter and just wanted to clarify with Mark when we might be on the ground there drilling some holes. On the ground at the moment, Linda. Not drilling yet. Hopefully, drilling in the latter part of the year, perhaps, September onwards. Thanks very much for that. At this stage, no further questions from the webcast. I'll hand back to you, Darcy. Thank you. There are no further questions on the phone at this time. Brilliant. Thanks, Darcy. Thanks, everyone, for tuning in. Look forward to seeing a number of analysts and investors on our Pre-Diggers site visit tomorrow. Thanks a lot. Thank you. That does conclude our conference for today. Thank you for participating. You may now disconnect.