Kinross Gold Corporation (NYSE:KGC) Q1 2024 Earnings Conference Call May 8, 2024 8:00 AM ET

Company Participants

Chris Lichtenheldt - Vice President, Investor Relations
Paul Rollinson - Chief Executive Officer
Andrea Freeborough - Executive Vice President and Chief Financial Officer
Claude Schimper - Executive Vice President and Chief Operating Officer
William Dunford - Senior Vice-President, Technical Services

Conference Call Participants

Mike Parkin - National Bank
Josh Wolfson - RBC Capital Markets
Anita Soni - CIBC World Markets
Tanya Jakusconek - Scotia Bank

Operator

Thank you for standing by. My name is Shannon, I'll be your conference operator today. At this time, I would like to welcome everyone to the Kinross Gold First Quarter 2024 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. [Operator Instructions] Thank you.

I would now like to turn, the conference over to Chris Lichtenheldt, Vice President of Investor Relations. Please go ahead.

Chris Lichtenheldt

Thank you, and good morning. With us today, we have Paul Rollinson, CEO, and from the Kinross Senior Leadership Team, Andrea Freeborough, Claude Schimper, William Dunford, and Geoff Gold.

For a complete discussion of the risks and uncertainties, which may lead to actual results differing from estimates contained in our forward-looking information, please refer to page two of this presentation. Our news release dated May 7, 2024. The MD&A for the period ended March 31, 2024, and our most recently filed AIF, all of which are available on our website.

I will now turn the call over to Paul.

Paul Rollinson

Thanks, Chris, and thank you all for joining us. Today, I will discuss our first quarter results, provide high-level updates across our portfolio, highlight some of our ESG achievements, and confirm our outlook. I will then hand the call over to Andrea, Claude, and Will to provide more detail.

Following our strong performance in 2023, our operations continue to perform very well, and we are generating significant cash flow. The strong gold price is far this year are providing a tailwind for our business, which continues to be underpinned by a focus on cost discipline, and margins. Our production in the first quarter was on-plan, delivering 527,000 ounces. Tasiast, Paracatu, and La Coipa contributed just over two-thirds of our production at strong margins, with an ASIC below $1,000 per ounce. Our U.S. operations also performed well in the first quarter, delivering on-plan and remain on track for their full-year targets.