Ero Copper Corp. (NYSE:ERO) Q1 2022 Results Conference Call May 10, 2022 11:30 AM ET
Company Participants
Noel Dunn - Executive Chairman
David Strang - Co-Founder & CEO
Makko DeFilippo - President
Wayne Drier - CFO
Courtney Lynn - VP, Corporate Development & IR
Conference Call Participants
Stefan Ioannou - Cormark Securities
Craig Hutchison - TD Securities
Operator
Thank you for standing by. This is the conference operator. Welcome to the Ero Copper First Quarter 2022 Financial and Operating Results Conference Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. [Operator Instructions]
I would now like to turn the conference over to Noel Dunn, Executive Chairman of Ero Copper for the opening remarks. Please go ahead.
Noel Dunn
Thank you, and good morning, everyone. The news release announcing Ero's first quarter 2022 operating and financial results is available on our website, as are our financial statements and MD&A for the three months ended March 31, 2022.
We will be making forward-looking statements on this call that involve risks and uncertainties considering the businesses, operations and financial performance of the Company. We refer you to our most recent AIF available on our website, SEDAR and EDGAR, for a discussion of the risk factors of our business and their potential impact on future performance.
As per usual, unless otherwise noted, all amounts are in U.S. dollars. Joining me on the call today are David Strang, Ero's Co-Founder and Chief Executive Officer; Makko DeFilippo, President; Wayne Drier, Chief Financial Officer; and Courtney Lynn, Vice President, Corporate Development and Investor Relations.
I would like to start off today by talking about the important milestones our team achieved during the first quarter and how the advancement of our growth strategy is progressing. We kicked off the year by announcing plans to increase our annual copper production to approximately 100,000 tonnes over the next few years, and achieve sustained annual gold production levels of approximately 60,000 ounces.
In early February, we successfully issued $400 million in senior unsecured notes with an eight-year maturity and a 6.5% coupon. While we had worked on this transaction for months with the goal of ensuring a fortuitous balance sheet, our timing with hindsight was pretty good.
Following the completion of key technical milestones in mid-February, our board formally approved the construction of the Boa Esperança project. Our project teams have been busy on site, completing our early works program, undertaking detailed engineering and entering into critical path contracts. I'm happy to report that just last week, we achieved another milestone when we kicked off site clearing.