Equinox Gold Reports Record Quarterly and Annual Gold Production: Produced 213,960 Ounces of Gold in Q4 2024 and 621,870 Ounces of Gold for Full-Year 2024
Equinox Gold (EQX) achieved record-breaking performance in Q4 and full-year 2024, producing 213,960 ounces of gold in Q4 and 621,870 ounces for the full year. The company's Greenstone mine, now under 100% ownership, contributed 111,710 ounces in its first partial year of operations after achieving commercial production.
The company ended 2024 with approximately $240 million in cash and equivalents, plus $105 million available on its revolving credit facility and an additional $100 million undrawn accordion feature. During Q4, EQX reduced debt by $180 million, including a $40 million final payment to Orion Mine Finance for Greenstone ownership and $140 million in convertible notes converted to equity.
Equinox Gold (EQX) ha raggiunto prestazioni da record nel quarto trimestre e per l'intero anno 2024, producendo 213.960 once d'oro nel quarto trimestre e 621.870 once per l'intero anno. La miniera Greenstone dell'azienda, ora completamente di proprietà, ha contribuito con 111.710 once nel suo primo anno parziale di operazioni dopo aver raggiunto la produzione commerciale.
L'azienda ha concluso il 2024 con circa 240 milioni di dollari in contante e equivalenti, oltre a 105 milioni di dollari disponibili sulla sua linea di credito revolving e ulteriori 100 milioni di dollari in una caratteristica accordion non utilizzata. Durante il quarto trimestre, EQX ha ridotto il debito di 180 milioni di dollari, inclusa un 40 milioni di dollari pagamento finale a Orion Mine Finance per la proprietà di Greenstone e 140 milioni di dollari in note convertibili convertite in capitale.
Equinox Gold (EQX) logró un rendimiento récord en el cuarto trimestre y en el año completo 2024, produciendo 213,960 onzas de oro en el cuarto trimestre y 621,870 onzas en todo el año. La mina Greenstone de la compañía, ahora bajo el 100% de propiedad, contribuyó con 111,710 onzas en su primer año parcial de operaciones tras alcanzar la producción comercial.
La compañía finalizó 2024 con aproximadamente 240 millones de dólares en efectivo y equivalentes, más 105 millones de dólares disponibles en su línea de crédito renovable y un adicional de 100 millones de dólares en una característica de acordeón no utilizada. Durante el cuarto trimestre, EQX redujo su deuda en 180 millones de dólares, incluyendo un pago final de 40 millones de dólares a Orion Mine Finance por la propiedad de Greenstone y 140 millones de dólares en notas convertibles convertidas en capital.
Equinox Gold (EQX)는 2024년 4분기 및 연간 실적에서 기록적인 성과를 달성하여 4분기 동안 213,960온스의 금을 생산하고 연간 621,870온스을 생산했습니다. 회사의 그린스톤 광산은 현재 100% 소유에 있으며, 상업 생산을 달성한 후 첫 번째 부분 연도 동안 111,710온스를 기여했습니다.
회사는 2024년을 약 2억 4천만 달러의 현금과 현금성 자산으로 마감했으며, 1억 5백만 달러는 회전 신용 시설에서 사용할 수 있고 추가로 1억 달러의 미사용 아코디언 기능이 있습니다. 4분기 동안 EQX는 1억 8천만 달러의 부채를 줄였으며, 여기에는 그린스톤 소유권을 위해 Orion Mine Finance에 대한 4천만 달러의 최종 지급과 주식으로 전환된 1억 4천만 달러의 전환 노트가 포함됩니다.
Equinox Gold (EQX) a réalisé des performances record au quatrième trimestre et sur l'ensemble de l'année 2024, produisant 213 960 onces d'or au quatrième trimestre et 621 870 onces pour l'année entière. La mine de Greenstone de l'entreprise, désormais entièrement détenue, a contribué avec 111 710 onces lors de sa première année partielle d'exploitation après avoir atteint la production commerciale.
L'entreprise a clôturé 2024 avec environ 240 millions de dollars en liquidités et équivalents, ainsi que 105 millions de dollars disponibles sur sa ligne de crédit renouvelable et un montant supplémentaire de 100 millions de dollars en fonction d'accords non utilisés. Au cours du quatrième trimestre, EQX a réduit sa dette de 180 millions de dollars, y compris un paiement final de 40 millions de dollars à Orion Mine Finance pour la propriété de Greenstone et 140 millions de dollars en obligations convertibles converties en actions.
Equinox Gold (EQX) erzielte im vierten Quartal und im Gesamtjahr 2024 eine rekordverdächtige Leistung, indem 213.960 Unzen Gold im vierten Quartal und 621.870 Unzen im gesamten Jahr produziert wurden. Die Greenstone-Mine des Unternehmens, die jetzt zu 100% im Besitz ist, trug im ersten Teiljahr nach Erreichen der kommerziellen Produktion 111.710 Unzen bei.
Das Unternehmen beendete das Jahr 2024 mit etwa 240 Millionen Dollar in bar und liquiden Mitteln, zusätzlich zu 105 Millionen Dollar, die auf seiner revolvierenden Kreditfazilität verfügbar sind, sowie weiteren 100 Millionen Dollar in einer ungenutzten Accordion-Funktion. Im vierten Quartal reduzierte EQX die Schulden um 180 Millionen Dollar, einschließlich einer 40 Millionen Dollar Abschlusszahlung an Orion Mine Finance für das Eigentum an Greenstone und 140 Millionen Dollar in konvertierbaren Anleihen, die in Eigenkapital umgewandelt wurden.
- Record quarterly and annual gold production achieved
- Greenstone mine exceeded production guidance with 111,710 oz
- Mesquite mine outperformed guidance by 10.7% with 71,980 oz
- Significant debt reduction of $180 million in Q4
- Strong liquidity position with $445 million total available funding
- Castle Mountain Phase 1 mining operations ceased in August 2024
- Santa Luz production of 56,900 oz fell below guidance of 70,000-80,000 oz
- Fazenda slightly underperformed guidance with 62,380 oz vs 65,000-70,000 oz target
Insights
An outstanding quarter caps off a transformative year for Equinox Gold, with Q4 production of 213,960 ounces representing their strongest quarterly performance ever. The full-year output of 621,870 ounces exceeded the upper range of revised guidance, driven by exceptional performance across multiple assets. The successful ramp-up of Greenstone, contributing 111,710 ounces in its first partial year, positions EQX for significant growth in 2025.
The balance sheet has been substantially strengthened, with
The operational execution across Equinox's portfolio has been remarkable, particularly at Greenstone where the ramp-up is proceeding ahead of schedule. The outperformance at Mesquite (71,980 oz vs. 55,000-65,000 oz guidance) and Castle Mountain's strong finish (120,510 oz vs. 15,000 oz guidance) showcase excellent operational management and optimization. Los Filos delivered within guidance at 170,370 oz, remaining the portfolio's cornerstone producer.
The strategic decision to suspend Castle Mountain Phase 1 mining while pursuing Phase 2 permitting demonstrates prudent long-term planning. The portfolio's diversification across multiple jurisdictions provides operational stability, though the underperformance at Santa Luz (56,900 oz vs. 70,000-80,000 oz guidance) indicates some optimization opportunities remain.
All dollar figures are in US dollars, unless otherwise indicated.
Vancouver, British Columbia--(Newsfile Corp. - January 8, 2025) - Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ("Equinox Gold" or the "Company") is pleased to report that the Company recorded its strongest quarterly and annual gold production in the Company's history, producing 213,960 ounces of gold in Q4 2024 and 621,870 ounces of gold for full-year 2024.
Greg Smith, President & CEO of Equinox Gold commented: "2024 was a pivotal year for Equinox Gold, defined by our success at Greenstone. We consolidated
Equinox Gold ended the year with approximately
2024 Production Summary
| 2024 Results (oz of gold) | 2024 Guidance3 (oz of gold) | |
| Greenstone | 111,710 | 110,000 - 130,000 |
| Mesquite | 71,980 | 55,000 - 65,000 |
| Castle Mountain1 | 20,510 | 15,000 |
| Los Filos | 170,370 | 155,000 - 175,000 |
| Aurizona | 71,620 | 70,000 - 80,000 |
| Fazenda | 62,380 | 65,000 - 70,000 |
| Santa Luz | 56,900 | 70,000 - 80,000 |
| RDM | 56,400 | 50,000 - 60,000 |
| Total 2 | 621,870 | 590,000 - 675,000 |
1. Castle Mountain Phase 1 mining ceased at the end of August 2024; residual leaching and gold production will continue into 2025. 2. Totals may not sum due to rounding. 3. 2024 guidance was revised to reflect the consolidation of ownership and ramp-up progress at Greenstone, the suspension of mining at Castle Mountain Phase 1 until Phase 2 permitting is complete, slower-than-expected recoveries at Mesquite, and a production interruption in Q2 due to a geotechnical event at Aurizona.
The 2024 production and cash balance information is preliminary and subject to change. The Company expects to release its audited Q4 2024 and annual 2024 financial and operating results, along with its 2025 production and cost guidance, in late February.
About Equinox Gold
Equinox Gold is a growth-focused Canadian mining company operating entirely in the Americas. The Company has seven operating gold mines in Canada, the USA, Mexico and Brazil and has a path to achieve more than one million ounces of annual gold production by advancing a pipeline of expansion projects. Equinox Gold's common shares are listed on the TSX and the NYSE American under the trading symbol EQX. Further information about Equinox Gold's portfolio of assets and long-term growth strategy is available at www.equinoxgold.com or by email at ir@equinoxgold.com.
Equinox Gold Contacts
Greg Smith, President & CEO
Rhylin Bailie, Vice President Investor Relations
Tel: +1 604-558-0560
Email: ir@equinoxgold.com
Cautionary Notes & Forward-looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information or financial outlook information (collectively "Forward-looking Information"). Actual results of operations and the ensuing financial results may vary materially from the amounts set out in any Forward-looking Information. Forward-looking Information in this news release relates to, among other things: the strategic vision for the Company and expectations regarding exploration potential, production capabilities, growth potential, expansion projects and future financial or operating performance, the Company's ability to successfully ramp-up production at Greenstone to design capacity; the strength of the Company's balance sheet, and the Company's liquidity and future cash requirements; the timing for release of the Company's audited 2024 financial and operating results; and the timing for release of the Company's production and cost guidance for 2025. Forward-looking Information is generally identified using words like "will", "forward", "achieve", "strategy", "improve", "grow", "expect", and similar expressions and phrases or statements that certain actions, events or results "may", "could", or "should", or the negative connotation of such terms, are intended to identify Forward-looking Information. Although the Company believes that the expectations reflected in such Forward-looking Information are reasonable, undue reliance should not be placed on Forward-looking Information since the Company can give no assurance that such expectations will prove to be correct. The Company has based Forward-looking Information on the Company's current expectations and projections about future events and these assumptions include: Equinox Gold's ability to achieve the production, cost and development expectations for its respective operations and projects; prices for gold remaining as estimated; availability of funds for the Company's projects and future cash requirements; ramp-up at Greenstone being completed and performed in accordance with current expectations; the expansion projects at Aurizona, Castle Mountain and Los Filos being completed and performed in accordance with current expectations; tonnage of ore to be mined and processed; ore grades and recoveries remaining consistent with mine plans; and the ability of Equinox Gold to work productively with its Indigenous partners at Greenstone and its community partners at Los Filos. While the Company considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Accordingly, readers are cautioned not to put undue reliance on the forward-looking statements or information contained in this news release.
The Company cautions that Forward-looking Information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such Forward-looking Information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services; fluctuations in currency markets; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding, fires, and severe weather); inadequate insurance, or inability to obtain insurance to cover these risks and hazards; employee relations; relationships with, and claims by, local communities and Indigenous populations; the potential effect of blockades and community issues on the Company's production and cost estimates; the Company's ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner or at all; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mining; risks relating to expropriation; increased competition in the mining industry; and those factors identified in the Company's MD&A dated February 21, 2024 for the year-ended December 31, 2023, and in the section titled "Risks Related to the Business" in the Company's most recently filed Annual Information Form, which are both available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar.
Forward-looking Information is designed to help readers understand management's views as of that time with respect to future events and speak only as of the date they are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any Forward-looking Information contained or incorporated by reference to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements and information. If the Company updates any Forward-looking Information, no inference should be drawn that the Company will make additional updates with respect to those or other Forward-looking Information. All Forward-looking Information contained in this news release is expressly qualified by this cautionary statement.
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FAQ
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