Thank you everybody, and thank you for attending the H.C. Wainwright 28th Annual Global Investment Conference. My name is Case Bongirne. I work in equity research in the metals and mining division, and happy to present Mike McAllister, the VP of Investor Relations. Mike, take it away. Great. Thanks, Case. Thank you, everyone. Thank you for attending, but just to tell you, Cerrado Gold has been having a great year. We continue, as we say, to drive substantial cash flow with limited dilution. Just as a recap of the company, we have an operating mine down in Argentina in Santa Cruz Province called the Minera Don Nicolás mine. Guidance there is about 50,000 oz- 60,000 oz of production this year. We're doing a significant exploration program, and we're expected to update our PEA in the first quarter, which we expect to show not only an extended mine life, but higher grades, which could lead to extended production in the coming years. We also have two development projects. We have the Lagoa Salgada project, which is located in Portugal. We're working through permitting there. We expect to be resubmitting our permits later this year, and we expect to be in a position by the end of the second quarter to have our permits in hand and, hopefully, by this point next year, we'll actually be breaking ground on that project and in construction. That will lead to another approximately 50,000 oz of gold-equivalent production. It is a polymetallic project. It has gold as well as some copper, zinc, and a little bit of tin coming from there. Finally, longer term, we have our Mont Sorcier project, which is located in Quebec, Canada. That's an iron ore project, but it's not your typical 62% iron ore. It's actually high grade, 67% iron ore, which comes at a premium in the market, and it's very much in demand in the market. That project would be 8 million tons of annual production, and that would be looking to-- We're going into permitting now. We'll have a feasibility study out there in the new year. As well, we'll look for production coming from there in about four years' time. Just, again, investment highlights. The project that we have in Argentina that's producing at about 55,000 oz. Our guidance this year is 50,000 oz- 60,000 oz, and we actually expect to come in on the upper end of that guidance. Again, we're going to be updating the PEA there in Q1 2027. Gold-equivalent production for the first half of the year is 28,000 oz. We did 15,000 oz in the second quarter, which on an annualized rate would be 60,000 oz a year. As I mentioned, this back half of the year, we're getting a lot of gold ounces coming in from the underground, which is higher grade, and the year is back end loaded. We do expect the production in the second half of the year to bring us up to the upper end of our guidance. Cash flow so far, based on the original PEA that was done in 2024, we get about CAD 50 million a year of cash flow, CAD 25 million a year of free cash flow. However, that was done at $2,100 gold, and obviously at today's gold prices, that's going to be significantly higher. We're quite excited about what's happening there. Again, we are doing a very significant exploration program on that project. We're doing 50,000 m of exploration on the surface. We have several targets that we're looking for higher grade material and an extended mine life to feed into the CIL plant. Additionally, we have a 20,000 m that's going on in the underground. We went underground last year. There was about 20,000 oz. We didn't go underground for 20,000 oz. We know that that high-grade material, which at surface was typically 6 g-8 g, sometimes as high as 10-g material, continues at depth. What we're going to do is be looking to expand that mine life in the underground as we follow that to depth. As I mentioned, we are ramping up. Longer term, we have Lagoa Salgada, which we expect to have a feasibility study later this year, probably before the end of the year. Additionally, we expect to have a construction decision there in Q3 next year. Around this time next year, we should be breaking ground on that project and moving it to the next stage. Again, that's a VMS deposit down the Iberian Pyrite Belt. Longer term, we have the Mont Sorcier project, which is expected to produce about 8 million tons a year of 67% iron ore concentrate. Why this is important, it's suitable for Direct Reduced Iron, green steel transition. It's very much in demand, not only in North America, but also in Europe and in the Middle East. There's a significant demand for this product. It commands a premium price. We expect to see significant cash flow from this operation. Finally, we have CAD 25 million in the bank at the end of the last quarter. We continue to have strong cash flow, and we're well funded to advance the projects to the next level. This is the company synopsis or story in one slide here. Looking at this on a gold-equivalent basis, currently we're producing 55,000 oz-60,000 oz. When we bring the Lagoa Salgada project on, we'll be closer to 100,000 oz. When we bring on the Mont Sorcier project in Quebec, we'll be looking at over 300,000 of gold-equivalent production. From an EBITDA basis, again, this is done at much lower metal prices. Even then at these much lower metal prices than where we are at today, this still shows us a good story. CAD 44 million of EBITDA. In reality, we're going to see over CAD 100 million of EBITDA this year. We also have when Lagoa Salgada comes on, we'd be at over 100. When the project in Quebec comes on, we would be on almost half a billion of EBITDA or cash flow. There is a significant value creation here in a very short timeframe for a mining company, which is not a bad thing. Again, you can see our growth production. We acquired the project in Argentina in late 2020. Previous operators had been never able to get it right. They were very good manufacturers looking to import U.S. dollars into Argentina. They could never get it quite right, and they were only able to get production at around 16,000 oz. They spent about $200 million developing this project. We took it over in 2021. We immediately brought it up to 42,000 oz a year, and we have been running at that 50,000 oz to 55,000 oz level since. This year, we not only converted and have open pit as well as some heap leach, we also now are going underground. The underground is providing higher grade ounces, which is helping us to ramp up the production. As I mentioned, we expect to come in at the higher end of that production guidance of 50,000 oz- 60,000 oz for the year. In the next couple of years, we are going to see higher grade material going into the mine, as well as some new areas coming online, including an area called Falcon that we just purchased. We expect to push that up towards 100,000 oz in the coming years through growth, not only just from a production, but from a higher grade ounces that are going to go into the mill. Looking at our capital structure, share price is hovering around CAD 2.50 right now. We have had a great run recently. We got up to a high of CAD 2.83. Shares outstanding, we have 142 million. We do have some options and warrants. Fully diluted, we are just under 160 million shares. We trade on average about half a billion shares in the market. Market cap is about CAD 367 million. As I mentioned, CAD 25 million in cash in the bank. We do still have another CAD 50 million pending in the market from the sale of the Monte Do Carmo project in Brazil, as well as an option on the Michelle property with AngloGold. So those are another CAD 50 million that is coming in next year and the year after that. In terms of analyst coverage, we do have three analysts covering us, including H.C. Wainwright. Heiko covers us. He has a target of CAD 3.90 on us. Average price between all the analysts is about CAD 3.50. In terms of shareholders, management owns just under 10% of the company, institutions 23%. Eric Sprott just took a 4% position in the stock. We still have a particularly large retail float at about 68%. As you can see by the chart there, the stock has had a good run lately. However, we still think that the stock is undervalued compared to other single asset gold producers, leaving out the development properties. If you look at Serabi, if you look at Jaguar, they are still trading anywhere from over CAD 100 million-C AD 300 million more than us, and yet we are producing at their levels this year. So we still think the stock has some room to run to higher levels, even excluding the two development projects. Again, this just recaps where we have done. We've spent over CAD 40 million unlocking the value of these companies, including drilling, feasibility studies, and working on these projects. At Minera Don Nicolás, as I mentioned, we're doing 50,000 m on surface, 20,000 m underground. We're moving this to a PEA study in the new year. We're also looking to expand the underground. We're targeting with that PEA to have a five to six year mine life. Obviously, we've purchased all the drills we have. We brought all the drilling in-house, which has brought the cost of drilling much lower. It's helping to lower our costs. Those drills are going to continue next year. We expect to continue to work to expand that mine life. One of the things that's slowed on the exploration side is it takes a really long time to get your assay results back. We're certifying our lab and bringing that in-house. We expect that to come online sometime late October, early November. Then we'll be able to do our own assays, which will help to increase the turnaround time and speed up our exploration results. At Lagoa Salgada, again, we're going to be optimizing the feasibility study later this year. We are going to be filing our EIA, which is the environmental, as well as the RECAPE permit together later this year. We expect to have that probably by the end of the second quarter, our permits in hand. We'd be looking around this time next year to be in construction. It takes about 18 months of construction, so we'd be looking at our first production probably Q2 of 2029. Here we'd be looking at about CAD 75 million of cash flow. That's based on the original feasibility study. Obviously, with today's metal prices, and the adjustments and improvements we've done to the feasibility, as you'll see through the optimized feasibility, that free cash flow will probably be closer to CAD 100 million-plus per year. Finally, Mont Sorcier, the bankable feasibility study will be completed in the first half of next year. We'll submit our environmental. It takes about two years. The government's saying they're going to shorten that to a year and a half. However, we're still planning on two years because who knows what the government will do. We'll be looking for our construction permits in the first quarter of 2029. It takes about a year to construct that project. Of all the projects, that's the easiest one. It's basically we mine the ore, we crush it, we run it over these big magnetic wheels, concentrate it, and ship it. So it's more of an ore sorting operation than an actual mine. It's one of the easiest operations of all three, even though it's very large. That one obviously is going to be the lion's share of the cash flow. We'd be looking at the original PEA of about CAD 235 million a year. That was looking at 65% iron ore. Looking at 67%, that would probably be closer to CAD 300 million a year of free cash flow coming from that operation. Just a closer look at the operations. This is our project in Argentina. We're in a very good neighborhood called the Deseado Massif. There's a lot of gold operations in this area. We have some great neighbors. Pan American has the Cerro Moro project just to the east of us. To the south of us, you have Cerro Vanguardia with AngloGold, being owned by AngloGold Ashanti. Up to the north, you have Cerro Negro, which is owned by Newmont, and San José, which is Hochschild McEwen. In this area, there's been a significant amount of gold produced, and you'll see in a slide coming up, there's no reason we can't be as large or as big as some of these other mines. We're just behind the ball and catching up on the drilling. As the years move ahead, there's no reason that we can't increase our production and our mine life to be similar to these guys. As I mentioned, we're at about 55,000 oz in the last few years. This year, we'll be probably closer to 60,000 oz, and I would guide that we're going to see increased production coming towards 100,000 oz in the next couple of years. Again, at the $2,100 gold, we had an EBITDA of CAD 44 million. Obviously, at today's gold prices, that's closer to CAD 100 million. We had about 490,000 oz in the M&I category. Obviously, we're going to be updating the PEA, and we'll be looking to extend our mine life, but not only extend the mine life, to look to bring in some higher-grade ore ounces that we can be producing through the mill. This is a great slide that shows you our neighbors and us and where they started. Cerro Vanguardia started in the late 1990s. They started with about 1.3 million ounces they had been drilling. It's taken them about 20 years to build up to that 6-million-ounce level. They started with an open pit, which is the beige. They moved into some heap leach in the gray, and then the black is the underground. Similarly, Newmont, they did it on a shorter timeframe, obviously, because there was an acquisition of Goldcorp. Still, they ramped that up. They started differently. They started with underground, added in some open pit, and they're actually starting to do heap leach now, and they've actually asked us for some guidance and some help on their heap leach operations because we've been very successful with our heap leach and getting good production from there. Then finally, you have Cerro Moro, which is Pan American Silver. They started with about 600,000 oz, ramped it up over about eight years to about 1.8 million ounces. This is not one of their key projects, so they're not putting a lot of effort back into this project. It'll be interesting to see what happens with this down the road. It could be an opportunity. Then you have us. We started with just under a million ounces. Again, when we acquired the project in 2020, it was COVID. Argentina was very strict about their rules. They did not let us move to expand and to grow this project. You couldn't have anybody on the ground other than key operators. We're catching up now. We're doing, as I mentioned, 50,000 m on surface, 70,000 m underground, doing an additional 5,000 m on the Falcon project we just bought. We bought four drills. They're all operating. We're bringing our mine lab in-house. In the next couple of years, I think you're going to continue to see the resource and the mine life grow at this operation. There's no reason that we can't get as big as those operations. Time will tell. We need the drill bit, time to turn and see what happens. Again, this is our operation. It's a hub-and-spoke operation. You can see the plant there in the middle. Up to the north, you have Las Calandrias, which is our heap leach operation, Paloma, which is our underground operation. You can see how it started as an open pit operation. We brought in some heap leach in 2024. Now we went underground in 2025. The production is changing a little bit. At the same time, we do expect to see this to continue to grow towards 100,000 oz the next couple of years. Currently, that's our heap leach operation working there. The underground at Paloma, you can see the original open pit there. It's a white hashed-out mark. That pit was developed at $1,700 gold. Obviously, if that was developed today, it would have been a much deeper and a much larger pit, but it's open along strike. It's open to depth. We have drill holes that go about 120 m below. Now we're filling that in with a 20,000-m program this year. We're hoping to bring in some additional higher-grade material. We're doing that right from the bottom of the open pit. You can see on the image to the right there, we have three portals. We went underground not just for the 20,000 oz that are there because we know that this continues at depth. We just need to drill it off. Being able to drill that from underground is much cheaper than drilling from surface. So we're excited for those results to come out as part of the PEA in the new year. This just on an exploration basis shows you the property and all the areas that we're working on. There's a 10-km strike there between the north and the south block. We've been drilling on that, a 50,000-m program. We've had success in several areas. Again, as I mentioned, we'll be updating that and bringing that into a PEA in Q1 2027. We do expect that to extend the mine life and as well as see some higher-grade material come in, which will help us to increase production beyond that 60,000-oz level for the mine. Just a quick note, this is the Falcon property that we purchased from Pan American Silver. This had a potential 150,000 oz- 200,000 oz already there. It was historical. We're doing 5,000 m of drilling on there currently to bring that into the PEA. As well, we believe there's some further ounces to be developed. Everything that they have is in the Marsia area, but there's four other concessions that came with this property. It's just to the north of our Las Calandrias area. What this is part of what we call a regional consolidation strategy. There are multiple mines around the property that have smaller resources on them, 150,000 oz, 100,000 oz, 200,000 oz. What we believe is that there is about 1 million ounces in this area. We are looking to consolidate and bring these small projects in because they are not mines on their own, but those resources could easily be processed through our operation. We are working to consolidate that area and bring it into the mine. That could potentially represent about 1 million ounces in total in the future that could come into the mine plan and be produced through our operations. Looking to Portugal, this is our Portugal project. It is located in the Iberian Pyrite Belt. You can see the map there. The copper color band represents the Iberian Pyrite Belt. You have some mines here, such as the Rio Tinto mine, which have been around since the Roman times. Very long-life mines, and ours is nothing different. Our neighbors are Aljustrel, which is a private mine, Neves-Corvo, which used to be owned by Lundin, got sold to Glencore, I think for just over a couple billion dollars. We love this area. It is great for infrastructure. We have the state highway running right past us. We have rail. There is power. You have close access to several ports. You have the Atlantic Copper Smelter just over the border into Spain. In terms of location, it is ideal. Where we are with this project, we have produced a PEA in the past on this project. At that time, we were doing it in a bit of a rush to earn in on the project, and we completed that. However, we are going to be updating that feasibility study, because we have done a ton of work on the metallurgy on the project. We are seeing improved concentrate grades. We are seeing less deleterious elements. We have actually brought down the cost. Expect to see that study coming out later this year, and you will see better economics on it and also improved cash flow NPV. Overall, it will be a win for investors. We have a very large resource on this. If you look at the two different areas, in total you probably have about 20 million tons of resource, and we have done that with only 40,000 m of drilling. It is a very fruitful area, and there is a lot of opportunity to expand this and grow this beyond what is there today. The original PEA had an NPV of CAD 147 million, a 39% IRR. As I mentioned, we are going to be updating that, so we expect that to grow and increase significantly. Also, in terms of cost, if we look at this on a zinc equivalent basis, because zinc is the largest metal, our first five years come in at the very bottom of the cost curve. Even the life of mine at CAD 0.79 still is a very low-cost project. You can see the timeline here again. We are expecting our feasibility later this year, our environmental and RECAPE late Q2, and we expect to be in construction around this time next year moving forward. Again, this project will produce a significant amount of precious metals, but also some critical minerals, including zinc, copper and tin. This is just a growth potential. Right now, as I mentioned, we have about 21 million tons. It is just in this area. However, there's a significant amount of growth available for this project throughout the project moving forward. Then just finally, Mont Sorcier, Quebec. I've already talked about this, but again, very large project, excellent infrastructure. The rail, the port, everything is already there. We did a PEA study. It had very good economics. We're going to be updating the feasibility study on this early next year. It's again, we have a 20-year mine life on the project, and that's only using a third of the resource. Again, overall for the project, we're expanding, and from a gold production perspective, we're expanding production on an equivalent basis to other projects. We still think we're undervalued, and there's still a lot of opportunity to see that grow. Then we have two other projects that are coming in line in the next couple of years that will further improve the cash flow. So we could be in excess of a half a billion of free cash flow in the coming years in a relatively short timeframe for a mining company. So I'll wrap it up there, Case. Thank you, Mike. If anyone has any questions for our Q&A session, feel free to ask them.
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