New Gold Inc. (NYSE:NGD) Q4 2022 Earnings Conference Call February 16, 2023 8:30 AM ET

Company Participants

Ankit Shah - VP, Strategy & Business Development

Patrick Godin - President and CEO

Robert J. Chausse - EVP and CFO

Conference Call Participants

Muhammad Siddique - CIBC

Trevor Turnbull - Scotiabank

Mike Parkin - National Bank

Operator

Good morning. My name is Michelle and I'll be your conference operator today. Welcome to the New Gold Fourth Quarter 2022 Earnings Conference Call and Webcast. All lines have been placed on mute to prevent any background noise. Please be advised that today's conference call and webcast is being recorded. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions]. I would now like to hand the conference over to Ankit Shah, Vice President of Strategy and Business Development. Please go ahead.

Ankit Shah

Thank you Michelle and good morning, everyone. We appreciate you joining us today for New Gold's Fourth Quarter and Year End 2022 Earnings Conference Call and Webcast. On the line today, we have Patrick Godin, President and CEO and Rob Chausse, our CFO. Should you wish to follow along with the webcast, please sign in from our homepage at newgold.com.

Before the team begins the presentation, I'd like to direct your attention to our cautionary language related to forward-looking statements found on Slides 2 and 3 of the presentation. Today's commentary includes forward-looking statements relating to New Gold. In this respect, we refer you to our detailed cautionary note regarding forward-looking statements in the presentation. You are cautioned that actual results and future events could differ materially from those expressed or implied in forward-looking statements. Slides 2 and 3 provide additional information and should be reviewed.

We also refer you to the section entitled Risk Factors in New Gold's latest annual information form, MD&A and other filings available on SEDAR, which set out certain material factors that could cause actual results to differ. In addition, at the conclusion of the presentation, there are a number of end notes that provide important information and should be reviewed in conjunction with the material presented. I’ll now hand the call over to Rob.

Robert J. Chausse

Thanks Ankit and good morning. I'll start with Slide 5, which provides our operational highlights. The production details on this slide are consistent with our January production press release. During Q4, the company produced 97,800 gold equivalent ounces, this amount consisted of 6.9 million pounds of copper and approximately 69,700 gold ounces from Rainy River and 10,900 gold ounces from New Afton totaling 80,700 gold ounces. For lower equivalent gold production as compared to the prior year quarter is primarily in the lower tons mined and processed at New Afton.