Welcome to our dedicated page for Equinox Gold news (Ticker: EQX), a resource for investors and traders seeking the latest updates and insights on Equinox Gold stock.
Equinox Gold Corp. (TSX: EQX, NYSE: EQX) is a growth-focused Canadian mining company that operates primarily in North and South America. The company's core business involves the operation, acquisition, exploration, and development of mineral properties, with a strong focus on gold mining. Equinox Gold currently operates seven gold mines and is actively commissioning an eighth mine, with a clear path to surpassing one million ounces of annual gold production.
Equinox Gold's diverse portfolio includes assets in Brazil, California, and other regions in North and South America. The company is notably advancing its Aurizona Project in Brazil, aiming to commence gold production by the end of 2018. Simultaneously, it is conducting a pre-feasibility study at its Castle Mountain Project in California with the objective of restarting production.
Recent achievements include the acquisition of the remaining 40% stake in the Greenstone Mine, consolidating full ownership of this world-class asset in Ontario, Canada. The Greenstone Mine is expected to be Equinox Gold's largest and lowest-cost producer, with an annual production forecast of approximately 400,000 ounces of gold for the first five years. The first gold pour at Greenstone was successfully achieved in May 2024, marking a significant milestone towards reaching commercial production in the third quarter of 2024.
Financially, Equinox Gold is in a robust position, having recently closed a
Equinox Gold Corp. (EQX) has commenced mining operations at its Santa Luz Gold Mine in Brazil, with plans to start gold production in Q1 2022. The company is on track for commissioning in Q4 2021, aiming for an annual output of 110,000 ounces of gold for the first five years. As of June 2021, approximately $31 million has been spent of the $103 million budget, with significant construction milestones achieved, including the installation of the ball mill. The project is 41% complete, with engineering and procurement nearly finalized.
Equinox Gold Corp. (TSX: EQX) has suspended mining activities at its Los Filos Mine in Mexico due to illegal blockades imposed by unionized employees and members of the Xochipala community. These groups are demanding payments above their contractual obligations. The company is actively seeking a long-term solution to resume operations effectively. This situation may affect production and cost estimates, as indicated in the company's forward-looking statements.
Equinox Gold Corp. (TSX: EQX) reported that shareholders approved all agenda items during its annual general meeting held on May 5, 2021. Key outcomes included the election of nine directors, re-appointment of KPMG LLP as the independent auditor, and approval of amendments to the Company's Articles to increase the quorum threshold for meetings. The 'Say on Pay' advisory vote supporting executive compensation received 98.82% approval. A total of 140,100,255 common shares, accounting for 57.74% of issued shares, were represented at the meeting.
Equinox Gold Corp. announced its Q1 2021 financial results on May 5, revealing significant operational updates and challenges. The company produced 129,233 ounces of gold and achieved a net income of $50.3 million, or $0.21 per share. Despite these figures, adjusted net loss stood at $3.6 million, highlighting operational difficulties and higher costs. Notably, cash costs rose to $1,141 per ounce, impacting profit margins. The company maintains its production guidance of 600,000-665,000 ounces for 2021, bolstered by acquisitions including Premier Gold and investments in the Greenstone Project.
Equinox Gold (TSX: EQX) has successfully completed the sale of 10 million shares of Solaris Resources Inc. (TSX: SLS), generating C$82.5 million in gross proceeds. The transaction also includes granted warrants allowing buyers to purchase an additional 5 million Solaris shares at C$10.00 per share over the next 12 months, potentially adding C$50.0 million if fully exercised. The Company acknowledges potential risks and uncertainties regarding future proceeds from these warrants.
Equinox Gold Corp. (NYSE American: EQX) will hold its annual general meeting (AGM) on May 5, 2021, at 1:30 pm Vancouver time. The company will announce its first quarter 2021 financial results during market hours on the same day and discuss them in a corporate update at 2:00 pm. Due to COVID-19, the AGM will be virtual, with registered shareholders able to submit questions. Proxy forms for voting must be submitted by May 3, 2021. Detailed meeting materials are available on Equinox Gold's website.
Equinox Gold Corp. (NYSE American: EQX) has sold its Pilar Gold Mine in Brazil to Pilar Gold Inc. for a total of $38 million. The payment structure includes $10.5 million on closing, $10 million due by May 31, and $17.5 million by July 31, 2021. Equinox will also receive a 9.9% equity interest in Pilar Gold Inc. and a 1% net smelter returns royalty. The Pilar Gold Mine represents approximately 35,000 ounces (5%) of Equinox's 2021 production guidance of 600,000 to 665,000 ounces of gold.
Equinox Gold Corp. has successfully acquired an additional 10% interest in the Greenstone Project, now holding 60% overall. The transaction, which closed on April 16, 2021, involved a cash payment of US$51 million to Orion Mine Finance Group. The Company also agreed to pay US$5 million contingent on a positive mine construction decision, plus approximately 2,200 ounces of refined gold based on production milestones. This joint venture is expected to yield over 240,000 ounces of gold annually upon production.
Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) announced the start of development for the Bermejal underground mine at the Los Filos Mine in Mexico. This project aims to enhance production with higher-grade ore.
Additionally, the company secured an updated social collaboration agreement with the Carrizalillo community, reinforcing community benefits and extending until April 2025.
CEO Christian Milau highlighted the positive impact of both the mine development and community engagement on future production and local welfare.
Equinox Gold Corp. has successfully acquired Premier Gold Mines Limited, enhancing its portfolio with assets including the Hardrock Project, now named Greenstone Project, and the producing Mercedes Mine in Mexico. This acquisition positions the company with eight operating mines and significant gold reserves across North America. Premier shareholders will receive Equinox shares and shares in the newly spun-out i-80 Gold Corp. Equinox also raised C$75 million through a private placement, with strategic growth initiatives underway for the Greenstone Project and other existing operations.
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