Q4 2012 Earnings Call Transcript

Transcript Call Date 03/14/2013

Operator: Good day, ladies and gentlemen, and welcome to the Fourth Quarter and Fiscal Year 2012 Molycorp Earnings Conference Call. My name is Derrick and I will be your operator for today's call. At this time all participants are listen only mode. We shall facilitate a question-and-answer session at the end of the conference. As a reminder, this conference is being recorded for replay purposes.

I would now like to turn the conference over to Mr. Brian Blackman, Senior Manager of Investor Relations. Please proceed.

Brian Blackman - Sr. Manager IR: Thank you, operator, and good day, everyone. Thank you for joining us on today's call. As you all know, we just released our financial and operating results for the fourth quarter and year-end 2012. Our press release is posted on the Investor Relations section of our website under This call is being webcast and a replay as well as a transcript will be archived on the Company's website.

For those of you dialed into the call, a slide show that accompanies our prepared remarks is available on the Investor page Molycorp's website as well. For those of you listening by webcast, the slides will be presented in your webcast player where you advance the slides on your own.

During the course of this call, we will make forward-looking statements, and I direct you to Slide number 2 for our disclaimers. All statements that address expectations or projections about the future are forward-looking statements. Although they reflect our current expectations, these statements are not guarantees of future performance but involve a number of risks and assumptions. We urge you to review Molycorp's SEC filings for a disclosure of some of the risk factors that could cause actual results to differ materially.

We will also refer to non-GAAP measures and request that you review the reconciliations to the GAAP statements provided with our earnings news release and our website. We'll also refer to non-GAAP financial measures and you can find reconciliations to those most directly comparable GAAP financial measures in our earnings release, also posted on our website.

As you can see on Slide 3, joining us today call is Molycorp's President and Chief Executive Officer, Constantine Karayannopoulos and our Executive Vice President and Chief Financial Officer, Michael Doolan.

I would now like to turn the call over to Constantine.

Constantine Karayannopoulos - President and CEO: Thanks Brian. Hello everyone. Let me begin with Slide 4. 2012 was a year of significant change for Molycorp. First, we successfully transitioned from what was largely a development company to what is now a global operations and production Company. Molycorp is the world's only fully integrated global solution for reliable rare earth supply. By combining the world's best rare earth resource at Mountain Pass with the world's best rare earth processing capabilities from Molycorp Canada and Silmet, we're now vertically integrated on a global scale from a world class upstream rare earth resource to some of the world's most advanced downstream rare earth processing facility.

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