Conifex Timber Inc. (CFF) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.077 Good morning, ladies and gentlemen. Welcome to the County Tax Chamber, Inc. 00:00:04.077 -- 00:00:06.020 2Q2025 00:00:06.020 -- 00:00:09.825 results call. I want to ask the chair of the meeting over to Mr. 00:00:09.825 -- 00:00:12.529 Ken Shields. Please go ahead. 00:00:12.529 -- 00:00:17.416 Yes, well, thank you, Patrick, and good morning, everyone, and welcome to our call covering 00:00:17.416 -- 00:00:21.559 our second quarter and first half 2025 results. 00:00:22.002 -- 00:00:27.341 Right next to me, we've got President and Chief Operating Officer Andrew McClellan, I'm 00:00:27.341 -- 00:00:31.487 also joined by Chief Financial Officer Trevor Pruden. 00:00:31.487 -- 00:00:35.994 So the three of us look forward to responding to any questions 00:00:35.994 -- 00:00:42.323 shareholders and analysts may have after we run through our prepared remarks. 00:00:42.323 -- 00:00:47.270 Dealing quickly with the housekeeping item, we will be making forward-looking statements 00:00:47.270 -- 00:00:52.258 and references to non-IFRS measures. And therefore, 00:00:52.258 -- 00:00:57.520 call your attention to the warning statement set out on pages one and two of the 00:00:57.520 -- 00:01:01.244 MD&A that was released earlier this morning. 00:01:01.244 -- 00:01:06.370 You know, our second quarter results are typically weaker than 00:01:06.370 -- 00:01:10.916 our first quarter results, and there's two main reasons for that. 00:01:10.916 -- 00:01:16.222 One is that BC Hydro pays us seasonally high power 00:01:16.222 -- 00:01:18.665 prices in Q1 00:01:18.665 -- 00:01:24.032 when the reservoir levels are low, but they pay us lower prices in 00:01:24.032 -- 00:01:29.347 Q2 when the reservoir levels are high as a result of the spring snowmelt. 00:01:29...