Financial Data and Key Metrics Changes - Gold revenue for Q1 2025 was $56 million, up 46% compared to the same quarter last year, driven by strong production and a higher average realized gold price of just under $2,900 per ounce, which was up 42% [14][15] - Production increased to 19,000 ounces of gold, a 9% rise from the previous year’s quarter [14] - Gross profit reached a record $26.9 million, up 95% year-over-year [15][16] - Net cash from operating activities more than doubled to $13.3 million compared to $4.9 million in the comparative quarter [25][26] - The net cash position improved to negative $4.6 million from negative $14.2 million in the previous year [26][28] Business Line Data and Key Metrics Changes - The operational performance was strong, with a focus on health and safety, leading to record production levels [30] - The company implemented initiatives to decouple mining from processing, which contributed to improved production consistency [31][32] - The average grade of gold produced improved from 2.78 grams per tonne to 3.3 grams per tonne by the end of the quarter [34][36] Market Data and Key Metrics Changes - The company benefited from a higher gold price environment, which positively impacted revenue and profit margins [14][15] - Increased royalty payments were noted due to higher gold prices, which rose by 47% [15] Company Strategy and Development Direction - The company is focused on disciplined growth, maintaining production levels, and exploring new opportunities [82] - There is an emphasis on optimizing project economics and minimizing equity dilution for future developments, particularly regarding the Billbows project [52][54] - The exploration budget for Matapa is set at just under $3 million, with plans for significant drilling to increase resources [70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational performance and the potential for continued growth, particularly in Zimbabwe, which is viewed as a favorable mining jurisdiction [11][12] - The management team highlighted the importance of cost control measures and ongoing initiatives to improve operational efficiency [39][42] Other Important Information - The company has made changes to its board and management team to strengthen its leadership [6][8] - Safety initiatives have been a key focus, with a reduction in incidents reported [49] Q&A Session Summary Question: Inquiry about longer-term mine development aspects - Management was asked about the status of longer-term mine development, including declines and other work being done [89]