FQVLF - First Quantum Minerals Ltd. (FQVLF) Q1 2024 Earnings Call Transcript

2024-04-24 14:05:30 ET

First Quantum Minerals Ltd. (FQVLF)

Q1 2024 Earnings Conference Call

April 24, 2024 09:00 AM ET

Company Participants

Bonita To - Director, IR

Tristan Pascall - Chief Executive Officer

Rudi Badenhorst - Chief Operating Officer

Ryan MacWilliam - Chief Financial Officer

Conference Call Participants

Greg Barnes - TD Securities

Orest Wowkodaw - Scotiabank

Jackie Przybylowski - BMO Capital Markets

Chris LaFemina - Jeffries

Ralph Profiti - Eight Capital

Ioannis Masvoulas - Morgan Stanley

Dalton Baretto - Canaccord Genuity

Bryce Adams - CIBC Capital Markets

Presentation

Operator

Thank you for standing by. This is the conference operator. Welcome to the First Quantum Minerals Ltd First Quarter 2024 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 Bonita To, Director, Investor Relations. Please go ahead.

Bonita To

Thank you, operator, and thank you everyone for joining us today to discuss our first quarter results. During the call we will be making forward-looking statements. And as such, I encourage you to read the cautionary notes that accompany this presentation, our MD&A and the related news release.

As a reminder, the presentation is available on our website and that all dollar references are in U.S. dollars unless otherwise noted. On today's call are Tristan Pascall, our Chief Executive Officer, Ryan MacWilliam, our Chief Financial Officer and Rudi Badenhorst, our Chief Operating Officer.

And with that, I will turn the call over to Tristan for opening remarks.

Tristan Pascall

Thank you, Bonita and thank everybody for joining us for our first quarter update today. Shortly following our fourth quarter results we announced our comprehensive refinancing package that involved an amendment and extension of our corporate loan facilities. A $1.6 billion second-lien bond offering and a $1.15 billion equity bought deal offering.

These transactions combined with our $500 million copper pre-pay agreement with our long-standing customer Jiangxi Copper have strengthened the company's balance sheet significantly to which Ryan will speak more on later and provide the company with the necessary time and space to deliver the Kansanshi S3 Expansion whilst we work towards a resolution for Cobre Panama....

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