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Edited Transcript of GCM.TO earnings conference call or presentation -

http://s21.q4cdn.com/834539576/files/Q2-2019-Results-Presentation-(Final).pdf

15-Aug-19 1:30pm GMT
Thomson Reuters StreetEvents•August 17, 2019
Q2 2019 Gran Colombia Gold Corp Earnings Call
TORONTO Aug 17, 2019 (Thomson StreetEvents) -- Edited Transcript of

Gran Colombia Gold Corp earnings conference call or presentation
Thursday, August 15, 2019 at 1:30:00pm GMT

https://finance.yahoo.com/news/edited-transcript-gcm-earnings-conference-000651904.html?.tsrc=rss

TEXT version of Transcript

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Corporate Participants

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* Lombardo Paredes Arenas

Gran Colombia Gold Corp. - CEO

* Michael Monier Davies

Gran Colombia Gold Corp. - CFO

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Conference Call Participants

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* Derek Macpherson

Red Cloud Klondike Strike Inc., Research Division - VP of Research

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Presentation

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Operator [1]

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Welcome to the Gran Colombia Gold Second Quarter 2019 Results Webcast.
My name is Paulette, and I will be your operator for today's call.
(Operator Instructions) Please note that this conference is being
recorded.

I will now turn the call over to Mike Davies, Chief Financial Officer. You may begin.

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Michael Monier Davies, Gran Colombia Gold Corp. - CFO [2]

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Thanks, Paulette. Good morning, and thank you for joining us today for our 2019 second quarter results webcast.
With me on the webcast this morning is our CEO, Lombardo Paredes.
I will first go through our prepared remarks regarding our performance
in the second quarter and first half, and then Lombardo will be
available as we open things up for the Q&A session.

Before we proceed with the presentation, I would first like to draw your
attention to our legal disclaimer regarding forward-looking statements
that may be made by us during the webcast this morning.

Last night, we released our operating and financial results for the
second quarter and first half of 2019.
We're very pleased to be able to report another solid quarter
consistent with our expectations.
In the second quarter, almost all of our operating and financial
metrics, as highlighted on this slide, showed improvement compared to
the second quarter last year.
For the first half of this year, production growth and lower cash costs
have been catalysts to improved adjusted EBITDA, earnings and cash flow
results, which, in turn, are helping us to keep our balance sheet in a
solid position.
Over the next few slides, we'll take a closer look at the results we
reported last night.

Our second quarter gold production was up 9% over the second quarter
last year.
Combined with the record gold production we reported in the first
quarter, our first half total is up 12% over the first half last year.
That brings our trailing 12 months total gold production at the end of
June 2019 to about 231,000 ounces, up almost 6% over 2018's annual gold
production.
Based on our first half operating performance and July's production of
another 18,166 ounces, we are now comfortable enough to raise our
guidance to a range of 225,000 to 240,000 ounces of gold this year.

Our development and mechanization investments in the company-operated
areas at our Segovia operations, Providencia and El Silencio in
particular, have continued to fuel our production growth at
Segovia this year.
At Providencia, we've seen an increase in the first half this year in
both tonnes mined as well as the head grades.
At El Silencio, growth has been a function of an increase in tonnes
mined.
In total, material processed at Segovia in the first half of 2019
increased to over 1,100 tonnes per day, up 18% over the first half last
year, and head grades increased to an average of 17.8 grams per tonne
compared with 16.7 grams per tonne in the first half last year.
The mill expansion to 1,500 tonnes per day is now complete, and we've
raised our production guidance for Segovia to a range
between 201,000 and 214,000 ounces of gold this year.

Story continues
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