Metals Acquisition Corp (NYSE:MTAL) Q1 2024 Earnings Call Transcript

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Mick McMullen: Well, I think we can be proactive and sort of make some changes as we go along. And you’re right, we’ve been very clear in terms of our strategy in terms of growing the business, very focused on value, obviously, but Australia, Canada, some states in the U.S., Chile, Europe are sort of our hunting grounds. And so yes, that may will frame where we want Board members in terms of their — maybe their applicability to each of those jurisdictions. But that’s no reason for us to not move forward on adding to the Board. I think the one comment I would say is for a company of this size, we actually have a very high-performing Board that probably punches above its weight for this sized company. And so the challenge is to try and find Board members who would be at that level.

And so we’ve been working very hard on that. And obviously, we’d like a bit more diversity on the Board. But I think it’s a bit like assets, Board members, when you find the right one, you grab them as opposed to sort of waiting for some event or something that might happen if a very high-quality candidate presents themselves, then you grab them when you can. And so we’re working hard on that, and we’d like to see the Board evolve again. If we do some M&A, and we end up in a different jurisdiction, then we may add some other people with specific expertise in those jurisdictions. But right now, we have an asset in Australia, it’s copper and so the attributes we’re looking for would be someone who has knowledge of that.

Jackie Przybylowski: Makes sense. Thanks very much for taking my questions. Thanks.

Operator: Thank you. [Operator Instructions] It appears we have no further questions. At this time, I would like to turn the conference back over to CEO, McMullen for any additional or closing remarks.

Mick McMullen: Look, thank you, and thanks, everyone, for attending and your questions. Obviously, we try and put as much information out as we can. In summary, I think on the scorecard that we’ve decided to mark ourselves against. We’ve delivered on most of those goals. I believe that the others we had well in hand and I would say, from an operational turnaround perspective, I think people sometimes expect miracles. And we’ve been clear that these turnarounds are not linear upwards in a straight line. And so Q1 was our weakest quarter for the year. I think we expect a pretty substantial improvement over the coming quarters. But look, at the end of the day at $4.60 copper, having a high-grade, long-life asset in a great jurisdiction like Western New South Wales, it’s a great time to be in copper. And with that, I’d like to thank everyone for your time and we look forward to the next call.

Operator: Thank you. This concludes today’s teleconference. We appreciate your participation. You may disconnect at any time.

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