New Gold Inc. (NYSE:NGD) Q4 2023 Earnings Conference Call February 14, 2024 8:30 AM ET

Company Participants

Ankit Shah - EVP, Strategy and Business Development

Patrick Godin - President and CEO

Keith Murphy - CFO

Yohann Bouchard - COO

Conference Call Participants

Anita Soni - CIBC World Market

Don DeMarco - at National Bank Financial

Operator

Good morning. My name is Mark, and I will be your conference operator today. Welcome to New Gold's Fourth Quarter 2023 Earnings Conference Call. [Operator Instructions]

I would now like to hand the conference over to Ankit Shah, Executive Vice President of Strategy and Business Development. Thank you.

Ankit Shah

Thank you, Mark, and good morning, everyone. We appreciate you joining us today for New Gold's fourth quarter and full year 2023 earnings conference call and webcast.

On the line today we have Patrick Godin, President and CEO; Yohann Bouchard, our COO; and Keith Murphy, our CFO. In addition, we have Luke Buchanan, Vice President, Technical Services; and Jean-Francois Ravenelle, Vice President, Geology; available for the Q&A portion of the call. 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 would like to direct your attention to our cautionary language related to forward-looking statements found on Slide 2 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. Slide 2 provides additional information and should be reviewed.

We also refer you to the section entitled Risk Factors in New Gold's latest AIF, MD&A, and other filings available on SEDAR Plus, 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 endnotes that provide important information and should be reviewed in conjunction with the material presented.

I'll now turn the call over to Pat for some opening remarks.

Patrick Godin

Thanks, Ankit, and good morning, everyone.

2023 was an excellent year for New Gold. The authorizing health and safety through our Courage to Care campaign led to an industry-leading total reportable incident frequency rate of 0.8%. We safely achieved the top end of our production guidance range, which was a 20% increase over 2022. And we met our all-in sustaining cost guidance range delivering an 18% cost reduction over 2022.