New Gold Inc.

Good morning. My name is Mark and I will be your conference operator today. Welcome to Newgold's fourth quarter 2023 earnings conference call. 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. If you wish to ask a question during this time, simply press star and then the number one on your telephone keypad. And if you'd like to withdraw your question, you can press star and then the number two. I would now like to hand the conference over to Ankit Shah, Executive Vice President of Strategy and Business Development. Thank you.

Thank you, Mark, and good morning, everyone. We appreciate you joining us today for Newgold's fourth quarter and full year 2023 earnings conference call and webcast. On the line today, we have Pacheco Den, President and CEO, Yoann Bouchard, our COO, and Keith Murphy, our CFO. In addition, We have Luke Buchanan, Vice President Technical Services, and Jean-Francois Ravenel, Vice President Geology, available for the Q&A portion of the call. If 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 two 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 in 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 NUGL's latest AIF, MD&A, and other filings available on CDAR+, 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 turn the call over to Pat for some opening remarks.

Thanks, Enkit, 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 haul-in system in-cost guidance range, delivering an 18% cost reduction over 2022. We delivered key project milestones on time, such as completing the first drawbill at New Aft and Sea Zone, as well as advancing the underground main zone at Rainier River. and with the operations now stabilized, we're able to return our focus to exploration, which was highlighted by a 74% replacement of Rainier Rivers mineral reserves and a subject pipeline for mine life extension at New Atom.