Good morning. My name is Michelle, and I will be your conference operator today. At this time, I would like to welcome everyone to the Argonaut's Q3 2022 Financial Results Conference Call and Webcast. 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 then the number one on your telephone keypad. If you would like to withdraw your question, please press star then the number two. As a reminder, today's call is being recorded November 4th, 2022. Thank you. Mr. Radford, you may begin your conference. Thank you, Michelle. Moving to slide one, welcome to Argonaut Gold's Q3 2022 Financial and Operating Results Conference Call and Webcast. Thank you for taking the time to join the call today. From the Argonaut team, I have Dave Ponczoch, CFO, who will review our financial performance for the quarter, and Lowe Billingsley, COO, who will review our operational results. As a reminder, we'll be making forward-looking statements, so please read our cautionary notes on slide two. Slide three. We continue to make progress as we transition our production and cost profile to a low-cost intermediate producer by putting our flagship project, Magino, into commercial production. On this front, we want to highlight some of the key advances, including Magino Project construction is moving forward. I'll show you a few photos later on in this presentation. We're approaching first gold and have our teams preparing to operate the mill. As you can see, we've done a lot of work on the financing front. We're now on solid footing to move Magino forward. We've bolstered our operational team in Canada with the addition of Chuck Hennessey. He brings a wealth of operations experience in Ontario and worldwide, and we're glad to have him on the team. Moving to slide four, we announced on October 27th the completion of the debt financing for the Magino Project. The company closed its previously- announced $200 million loan facilities and drew down the first tranche of $80 million of the loan facilities, which was used to repay the balance outstanding of the former revolving credit facility. The loan facilities consist of a term loan of $200 million and a revolving credit facility of $50 million for the ongoing development and construction of the Magino Project. Pursuant to the loan facilities, Argonaut had previously sold gold into gold- forward contracts amounting to 300,000 gold ounces at $1,860 an ounce, and have now another 100,000 ounces at a gold price of $1,763 per ounce. Argonaut has hedged via forward contracts the Canadian dollar exposure at an average rate of CAD 1.334 per $1 for the next 24 months. In addition, Argonaut has closed the sale of a 2% net smelter return royalty on the Magino Project and surrounding land package to Franco-Nevada Corporation for $52.5 million and a $10 million equity private placement. The additional capital was raised in reflection of conservative inputs to the financial model built jointly between Argonaut and the banking syndicate. For example, non-hedged ounces were entered at $1,350 per ounce. With the royalty funds and the additional capital, essential loan covenants are projected to be covered. Future loan draws require banking syndicate review of project and permitting progress normal for this type of debt facility. Slide five, Magino update. We received all major process equipment for the mill. The mills and tanks are in place. Pumping, piping, and electrical systems being installed. Everything's enclosed and ready for winter. All four generators have been received and are in place. Our formal operations readiness initiative and commissioning initiative are progressing. We're at + 72% action items completion. This is the most thorough operations readiness initiative that I've seen. I'll now run through the slides showing the construction progress. Slide six. We have made significant progress on the tailings management facility. By the end of October, the concrete plant that you can see in the upper- left photo, it's the toe of the plastic. That was at 77% completion at the end of October. The plastic itself is 61% complete at the end of October. In the upper- right photo, the LNG power plant is shown. All four generators are in place with blue covers. In the bottom- left photo, the stockpile feed conveyor is shown. In the bottom- middle photo, the secondary crusher is shown. In the bottom- right photo, the Goudreau Lake fish habitat dewatering cells are shown. Slide seven. This slide demonstrates that the close-spaced ore control drilling shows very close correlation with the resource model. About one and a half years of full production has been drilled in this ongoing program. I will now turn the presentation over to Dave, who will go through the key financial metrics for the quarter. Thank you, Larry. Good morning, everyone. If you'll turn with me to slide eight, Financial Performance. Revenue for third quarter 2022 was $75.3 million, a decrease from $108.6 million in Q3 2021. During the quarter, gold ounces sold totaled 38,639 ounces at an average realized price per ounce of $1,895. This is compared with 58,528 gold ounces sold at an average price of $1,789 for the same period in 2021. The higher average realized gold price per ounce during Q3 2022 is primarily due to delivering into gold forwards that we locked in earlier this year. For the quarter, we sold less than produced due to the timing of sales, and this was then sold in early- October. The third quarter net income was slightly lower than the third quarter last year due to a combination of lower revenue and higher cash costs. The higher cash costs are primarily related to higher consumable costs than we saw a year ago. For the quarter, we delivered $14 million in cash flow and ended with $89 million in cash. Now, Larry's already walked through the additional financing for the quarter, so I will not go through those. If you'll turn to the next slide nine, 20, or third quarter capital spending and cash flow. Looking at the third quarter cash flow reconciliation, we began the quarter with $76 million in cash. We generated approximately $14 million in cash flow and invested $99 million in capital programs, with the bulk of that being in the Magino construction project. We also added the $141 million in equity, and this is net of fees, as we've previously announced. Approximately 86% of the capital during the quarter went towards the Magino construction project. For the third quarter, we incurred approximately $85 million in costs related to Magino. I'll now turn the call over to Lowe Billingsley, our Chief Operating Officer, to walk through the operational highlights for the quarter. Lowe? Great. Thanks, Dave. Slide 10, Operations Overview. Year-to-date, our production results are in line with our expectations at 161,000 gold equivalent ounces. Year-to-date production was planned to be lower versus 2021, primarily driven by less ore production from the higher- grade El Crestón phase at La Colorada, which is nearing completion, and ore mining now shifts to the lower- grade Veta Madre pit. Operationally, the third quarter was challenging, but we continue to have consistent performance from the El Castillo complex, which mostly offset performance at La Colorada and Florida Canyon during the quarter. Both of these mines experienced challenges with block model performance. At La Colorada, where we're mining the last benches of El Crestón phase III, we encountered lower ore tons than planned. In addition, we experienced heavier than expected seasonal rains that resulted in delayed mining in El Crestón phase III, which will now be completed in the fourth quarter. At Florida Canyon, the block model yielded lower grades and recovery as more run of mine material was placed during 2022, which was partially offset by higher ore tons placed. We continue to execute infill drilling programs to improve block models, and we expect to improve reconciliation as a result of those programs. For the quarter, higher cash costs are primarily driven by unit cost inflation in key consumables like diesel, cyanide and lime. 70% of higher costs are driven by price escalation, and 30% is driven by higher mine volumes. Just as an example, the increase in diesel price constitutes 23% of higher cash costs. Secondly, the normal Mexico rainy season impacts Q3 so that fewer ounces are placed, thus increasing the cost per ounce. Finally, as we mentioned, there were some block model performance issues at La Colorada and Florida Canyon. Fortunately, the rainy season is completed for the year. We're addressing the block model with additional infill drilling. However, the consumable costs will be, continue to be market-driven. Slide 11. 2022 guidance. Year- to- date, we've generally met expectations. We're maintaining our full- year production guidance of 200,000 ounces-230,000 ounces. Given the heavier- than- normal rainy season in Mexico, full year production might trend towards the lower- third of the range due to delayed PLS- grade improvement resulting from the rains diluting the solution grades arriving at the plants. As I said on the prior slide, the impact of escalating input costs on cash costs and all-in sustaining cost per ounce is notable. In light of the inflationary environment we have experienced this year and considering current projections, we have adjusted our guidance for cash costs and all-in sustaining costs compared to guidance provided in August. Slide 12, Sustainability. Our operations in Mexico and at our Magino Project have achieved some significant safety milestones that I would like to recognize. At La Colorada, we have no lost time incidents year- to- date, and we have exceeded 1.2 million man-hours incident-free. At San Agustín, we have exceeded 1.2 million hours and 14 months without a lost time incident. At El Castillo, at the end of September, we completed 18 months at 1.2 million man-hours, also without a lost time incident. At Magino, we've achieved 2 million man-hours without a lost time incident, which is notable for a project in construction. My congratulations to these teams on a job well done that never ends. In October, we commissioned the power line at San Agustín. Going forward, the switch to grid power will eliminate about 300,000 L of diesel consumption each month. At Magino, our team continues to engage with community members in all indigenous communities to ensure our neighbors are well informed of all activities with the project. With that, I'll turn the call back to Larry. Thanks, Lowe. We have made significant progress positioning Argonaut for future success with the pending completion of Magino. Ladies and gentlemen, please stand by. Please continue, Mr. Ponczoch. Good morning, everyone. This is Dave Ponczoch. It looks like Larry and Lowe's line is having some technical difficulty. I'll just. This is the final slide we have. As Larry was saying, we've made a lot of progress positioning Argonaut for future success, and we do this by improving our operational portfolio and the completion of Magino. With a much lower cost, longer life of mine, Magino represents a significant value driver for the company, in which we see the majority of our production and cash flow, which will come out of this tier one jurisdiction. As we're approaching the commissioning of this project in the upcoming months, we believe there is a potential opportunity for patient investors willing to see Magino through completion to see a re-rating on the stock price. With that, I'll turn it back over to Michelle for any question and answers, and we'll look forward to Larry and Lowe joining us back soon. Michelle. Thank you. Ladies and gentlemen, we will now begin the question- and- answer session. Should you have a question, please press star followed by the one on your touch tone phone. You will hear a three-tone prompt acknowledging your request, and your questions will be polled in the order they are received. Should you wish to decline from the polling process, please press the star followed by the two. If you are using a speakerphone, please lift the handset before pressing any keys. One moment please for your first question. First question comes from Michael Fairbairn of Canaccord Genuity. Please go ahead. Hi, all. Thanks very much for taking my questions. I've got a couple here. I wanted to start with just the cost pressures that you're seeing this quarter. Just with inflationary pressures pushing up costs this year, just wondering if you see these pressures abating at all heading into 2023. You know, kind of leading into that, do you think the longer- term cost profiles that were published with the various tech reports that came out earlier this year are still representative of the current environment? Yeah. Thanks, Michael. [Audio distortion] Good question. Go ahead. I'm sorry, we dropped off. I don't really know what happened there, but it's a good question. We have seen a little bit of relief in diesel. Certainly with commodities that are by and large natural gas-based, say explosives, we haven't seen much. I don't think that we're terribly different from the other companies that have reported. You know, I listened to, say, Barrick and Newmont's reports, and I think we're all kind of feeling the same pressures. I'll ask Lowe to comment further. Yeah. Thanks, Larry. Yeah, that's right. I mean, we're just. Are we still on? Are we still there? Yep. Lawrence, I can still hear you. Yep. Okay. Thank you. Okay, great. Thank you. Sounds like we got disconnected. We're seeing, just like Larry mentioned, our plan had been, we're very focused on continued optimization and efficiencies across all of our operations. I mean, cost control is the same and equal importance and significance in terms of focus as our gold production is. We're doing everything there that we can, relative to it. I think the biggest question around looking at 2023 is, there just continues to be a lot of instability and unpredictability in terms of the markets. You know, there's geopolitical instability with economic instability. I think just as we go forward is something that the. Certainly we and the entire rest of the industry will continue to be focused on and trying to optimize everything that we can. Michael, you had a second question? Yeah. I wanted to ask about the Magino tailings pond as well. I know you've talked about that in the past. It's been a key area of focus for the team. Just wondering if it's still an area of risk for the project schedule? Yeah. As far as the owner's scope, I think the two areas that we're most focused on are the tailings dam completion of the first phase anyway, and the completion of the LNG power plant. As I mentioned in the presentation, we've had good progress in the last, say, month. Really the biggest risk in completion of the tailings dam is the weather and being able to pour concrete. Once it gets below freezing, it gets complicated. We actually are prepared to pour concrete subfreezing. Fortunately, we haven't had to yet. The progress has been pretty good. It still remains a risk, but that risk is starting to diminish. Okay, perfect. Just two more from me if I can. Wanted to revisit the block model performance at Florida Canyon and La Colorada. Just wondering if these are new issues with block model reconciliation and, you know, if you know how pervasive the issues might be at this point? Yeah. I'll ask Lowe to comment. At La Colorada, there's two pits and Veta Madre and El Crestón. El Crestón is kind of a Dixie cup last few benches in phase three, which the deeper ore was not drilled historically very well, and that's resulted certainly in some variation. We are drilling there now. I was just down there a few weeks ago and saw the drill in the bottom of the pit to sort of improve our reconciliation. I'll turn this over to Lowe and ask him to comment. Sure. Thanks, Larry. Just to continue with the La Colorada, as Larry kind of described the El Crestón reconciliation. That's really been the challenge that we saw in third quarter, combined with the rain season, as we mentioned, that made mining difficult and pushed some production from La Colorada into quarter four. The good side, the really good news at La Colorada has been at the Veta Madre pit. We started mining that pit just over a year ago. The block model performance there has actually been aligned with expectations. We have like reasonable confidence going forward that Veta Madre will continue to perform that way. Michael, you had asked about Florida Canyon. It's the same type of situation just from the standpoint of where we were mining during the quarter. Mining in some areas that have some wide-spaced drilling, along with some historic drilling that has proven to not be very reliable. We do have infill drilling programs that we've been executing at Florida Canyon through the year and that are ongoing right now to improve that reconciliation. Okay, perfect. Thanks, guys. Last one from me on La Colorada again. You know, you had a quarter of pretty heavy stripping at La Colorada this quarter. Just wondering if it's going to continue over the next few quarters and, you know, by front loading some of the stripping, if we should expect a smoother production profile over the next few years than what we saw in the tech report that was published earlier this year? What we started in Q3 was the stripping of phase IV in El Crestón, which it's gonna be ongoing actually for a couple of years. We started it because the rains were intense enough that the ore at the bottom of phase III wasn't accessible. We started up in phase IV stripping. That's gonna be ongoing as we're mining Veta Madre simultaneously. Lowe? Yeah. Thanks, Larry. That's correct. The stripping phases, we did get a jump on stripping El Crestón phase IV, as in order to utilize our equipment during the rainy season, as Larry said. That stripping will be continuing going forward certainly through 2023. That's been the kind of production plan that we've had. Before that. I think just from the standpoint of expectations, continue to see those elevated stripping levels is what I would expect. Okay, perfect. Well, thanks a lot, guys. I'll turn it back over to you and open it up to, I guess, anybody else that wants to hop in with questions, but thanks again. Sure. Thanks for calling. Thank you. The next question comes from Gabriel Gonzalez of Echelon Capital Markets. Please go ahead. Hi, thank you very much, and good morning, and good work on a job well done tying the financing package together and the royalty as well with Franco-Nevada. My question just is with regards to the ore control drilling at Magino. Do you already have enough modeled information to say whether the positive reconciliation that you're seeing is within the predicted bounds of what you'd expect? Or are you seeing a little bit more variation than your you know predictive models would expect? Or is it still a little bit too early to say? In other words, did you still have to do a little bit more of that, ore control drilling to really tie down predictability and variance models on the ore control? Thanks. That's a great question. It's a key issue for Magino and one that we're very focused on. For instance, operationally, we've put together a draft ore control procedure because it's absolutely a key element to making Magino a success. As far as the ore control drilling, as I pointed out, we have about a year and a half's worth of production, not necessarily sequentially, but in aggregate, drilled out on very close spacing. As you can see in the slide deck, it's confirming the resource model. It's neither up nor down. It's actually spot on, which is reassuring and you know, for all the due diligence that's been done on this property, it's what everybody wants to look at. I thought I'd throw a slide in this time to show how we're doing. Okay, perfect. Thank you. Just in regards to the power line replacing the diesel at San Agustín, is there a quantifiable amount of potential cost savings that you'd expect from this? Or is it mainly the main benefit simply from having a more stable cost from the CFE in Mexico versus variability associated with diesel? Well, there's absolutely a cost savings. It's one of the reasons the line was put in. I'll. Lowe probably has the numbers handy. Yeah, sure. As we look at that, our biggest change by moving to line power, we get a... It's not so much about the stability of the power supply. We were of course self-maintaining power generation at San Agustín. But it was more on the cost saving side. We're able to save about $350,000 a month in diesel consumption, diesel spend, at San Agustín by switching over to line power. Certainly line power isn't for free, but there's a significant cost reduction there that we should be now beginning to experience at San Agustín going forward. Perfect. Thank you. Just one last question. In regards to the additional capital costs within guidance for the operating assets. I believe you mentioned that about 70% of higher costs operationally are being driven by cost escalation. I just wanted to ask if the increase in the capital costs can largely also be attributed to that or in terms of proportion to increase capital costs it's for inflation consumables and that sort of thing. Or is there a, I guess, a quantifiable amount that is being driven also, for instance, by the additional ore control drilling that you're having to do at Florida Canyon? Just wanted to get a little bit more color on that increase in the... Okay. Yeah, thanks. Lowe's ready to answer that question. Gabriel, can you still hear us? Yes, I can. Okay. Thank you. Thought the line dropped again. No, I think that when we look at it just from the standpoint of the operating costs, if we look at the price pressures that we're seeing, certainly those are flowing through the key consumables. We do see the industry-wide, our peers and colleagues in Nevada specifically talking about Florida Canyon. We are certainly seeing those types of costs roll through our suppliers as well. From the standpoint of contractors, any type of, you know, you know, maintenance contractors, other provided services, you know, we are certainly seeing those pressures. We're not alone in that. That's the market and the environment that we're in. You had asked about capital. I think just from the standpoint of, you know, most of the capital is being driven by, you know, it's energy costs, certainly. We get into steel costs, inflation, anything that is related to the energy sector, we certainly would be seeing and are experiencing some of that flowing through as well. Fortunately, at Florida Canyon, we're not very capital-intensive there, so we don't have much of a concern in that regard. Okay, perfect. Thank you very much, and I'll leave it at that and turn it over to other questions. Thank you very much. Thank you. Once again, ladies and gentlemen, if you do have a question, please press star one at this time. The next question comes from Wayne Lam, RBC. Please go ahead. Hey, morning, guys. Just wondering, maybe at Florida Canyon, the prior management team had indicated some potential for cost optimization related to, improvement in efficiencies. Just wondering, as you guys have taken over the assets, do you expect to realize some of these optimizations to help offset the inflation pressures you're seeing? David, if you could answer that question, please. The line has dropped again. Hi, Wayne, this is Dave. I'm sure Lowe can share some additional things. What we're looking at now is certainly a whole host of activities to improve operational performance at Florida Canyon. Looking at operational efficiencies, especially the ones looking at the conveying are one of those. We have right now, currently a very keen focus on improving Florida Canyon because the results and the costs are not where we want them to be. You know, looking at the crush and convey optimization is one of those we're looking at. The mine sequencing and bringing in additional higher grade areas is another. Yes, we're very focused on Florida Canyon. Okay, great. Thanks. Maybe just at Magino, just wondering if you could walk us through what the remaining large spend items are, as you get to completion and the level of confidence in those components relative to the $920 million budget. Just wondering on the previous breakdown in the budget, there had been about $60 million in contingency. Just wondering with the inflation you've been seeing, if you happen to have an estimate of how much of that is remaining. Yeah. I'd... Yeah, so... Okay, Dave, I can jump in here if you like. Awesome. Okay, thanks. Yeah. Of the contingency in the original estimate, the contingency plus management reserve amounted to about $50 million, $48 to be precise. Of that, we committed $16 million at the end of September. I believe there will be more coming, but so far that's all we've committed to contingency. Okay. Just in terms of the other part of the question, on the remaining spend at Magino, maybe if you could provide a bit more detail on, you know, where the large capital items are in getting to completion? Sure. Obviously the mill itself is a large piece of the remaining spend. It's going together fast. As you probably remember, the mill is on a fixed- price EPC contract. The payments are made off of milestones. As Ausenco ticks off those milestones, we'll be making payments. Mining goes on, it's actually a little bit lower than because phase IA of the tailings dam is essentially complete from mine delivery perspective. We've actually dropped some of our mining but we're still delivering material to the next phase of the tailings dam. Beyond that, you know, the LNG power plant, the tailings completion, those sorts of things are kind of in descending order of what's left to be spent. Dave, do you have anything to add? No, I think you're right. You know, looking at the estimates, we've got CAD 60 million of EPC payments, and that's, as Larry mentioned, for the mill. As far as site development, of which the majority of that is tailings, is also about CAD 60 million. We've got a variety of other, you know, with the power plant and indirects and owner's cost is the remaining. Okay, perfect. Thanks for taking my questions. Thank you. Operator. Thank you. There are no further questions at this time. Please continue with closing remarks. Thanks everybody for joining our Q3 conference call. Exciting times at Argonaut as we can see the finish line at Magino. It's coming fast and we're all looking forward to commissioning and ramp up and getting the project into production. Thanks, everybody. This concludes the conference call. Thank you, everyone. You may now disconnect.