New Gold reports Q4 adjusted EPS (1c), consensus 2c

Reports Q4 revenue $199.2M, consensus $191.07M. The higher production, lower total cash costs, and lower capital spend over the next three years are expected to drive significant free cash flow for the Company. “2023 was a successful year for New Gold. We executed on our key priority of stabilizing our operations and delivered consistent results throughout the year,” stated Patrick Godin, President and CEO. “As a result, New Gold achieved the top end of its 2023 gold equivalent production guidance, and the midpoint of all-in sustaining cost guidance set out at the start of 2023. The Company was able to once again demonstrate the free cash flow generation potential in the fourth quarter, despite the capital investment in our projects.”