Kinross Gold Corporation (KGC) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. Thank you. It is now my pleasure to turn the call over to David Shaver, Senior Vice President. Please go ahead. Thank you and good morning. In the room with us today on the call, we have Paul Rowlinson, CEO, and from the Ken Ross Senior Leadership Team, Andrea Freeborough, Claude Schimper, Will Dunford, and Jeff 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 three of this presentation, Our news release dated July 30, 2025. The MD&A for the period ended June 30, 2025. And our most recently filed AIF, all of which are available on our website. I will now turn the call over to Paul. Thanks, David, and thank you all for joining us. This morning, I will discuss our second quarter results, provide high-level updates across our portfolio, comment on sustainability, and confirm our outlook. I will then hand the call over to the team to provide more detail. Following a good Q1, we delivered another strong quarter in Q2, establishing an excellent first half and positioning as well to achieve our full-year guidance. Our production in the second quarter was on plan, delivering 513,000 ounces at a cost of sales of $1,074 per ounce. Our strong production and cost management combined with the gold price resulted in record operating margins. As a result, we also delivered record free cash flow in the second quarter of almost $650 million and a first-h...