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 announces its Q2 2024 financial and operating results. During the quarter, the company produced 122,221 ounces of gold and sold 115,423 ounces at an average realized gold price of $2,328 per oz. Despite facing slower recoveries at Mesquite mine and a geotechnical event at Aurizona mine, the net income reached $283.8 million, or $0.72 per share (basic).
Equinox Gold completed the acquisition of the remaining 40% interest in the Greenstone Mine, making it a wholly owned asset. The company anticipates commercial production at Greenstone by Q3 2024.
Challenges included suspended mining at Castle Mountain Phase 1, slower recoveries at Mesquite, and a geotechnical event at Aurizona, which led to updates in production guidance. Consolidated production for 2024 is now forecasted between 655,000 to 750,000 oz of gold.
The company's financials include: cash flow provided by operations of $45.1 million, adjusted EBITDA of $51.3 million, and net debt of $1.31 billion. Cash and cash equivalents were $167.5 million as of June 30, 2024.
Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) has launched the Ride to Greenstone, a 3,634 km bike relay from Vancouver to Geraldton, Ontario, celebrating the opening of their new Greenstone Mine. The event aims to raise funds for the Geraldton District Hospital and other local charities. To date, nearly C$1.2 million has been raised for the hospital, with additional funds for charities in Brazil and California.
Gold sponsors, including Sandstorm Gold Royalties and Franco-Nevada, have each donated over C$100,000. The ride highlights Equinox Gold's commitment to community health and team building. Employees from various mine sites are participating, and progress can be followed on social media and the event website.
Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) has announced that it will release its unaudited financial and operating results for the second quarter of 2024 on August 7, 2024, after market close. The company will host a live conference call and webcast to discuss these results on Thursday, August 8, 2024, at 7:30 am PT (10:30 am ET).
Investors can join the conference call toll-free from the U.S. and Canada at 1-844-763-8274, or internationally at +1-647-484-8814. The webcast will be available on Equinox Gold's website and archived until February 8, 2025. For further information, investors can contact Greg Smith, President & CEO, or Rhylin Bailie, VP Investor Relations, at +1 604-558-0560 or ir@equinoxgold.com.
Equinox Gold Corp. (EQX) hosted Ontario Premier Doug Ford and First Nation leaders at its Greenstone Mine on June 18, 2024, to witness a gold pour. Premier Ford emphasized the importance of partnerships with First Nations and industry for economic growth and job creation in Ontario. The event also saw the announcement of funding initiatives, including $1.9 million for the Indigenous Workforce Development Program and $2 million for the construction of the Migizi Plaza Rest Stop, which will create jobs and revenue for local First Nations. Additionally, the Ontario government pledged support for infrastructure projects including the relocation of the Greenstone OPP detachment and upgrades to Highway 584 and Highway 11.
Equinox Gold has launched the 'Ride to Greenstone,' a 3,634 km bike relay from Vancouver to Geraldton to celebrate the opening of its new Greenstone Mine. The event aims to raise funds for the Geraldton District Hospital, which serves a large area in Northern Ontario, including five Indigenous communities and the mine workforce.
Participants from the company's operations in California, Mexico, and Brazil will join the relay, with various fundraising events planned. The company has already raised over C$950,000 through early sponsorships.
The relay starts on August 5th from Vancouver, and updates will be posted on social media and the event website. Further details can be found on the Equinox Gold and Ride to Greenstone websites.
Equinox Gold (TSX: EQX, NYSE American: EQX) has announced the first gold pour at its Greenstone Mine in Ontario, Canada, achieving this milestone on schedule. The initial production yielded 1,800 ounces of gold, with all equipment performing as expected. This development marks a significant step toward commercial production, anticipated in Q3 2024. The Greenstone Mine is set to be Equinox Gold's largest and lowest-cost producer, expected to produce 400,000 ounces of gold annually for the first five years, and averaging 360,000 ounces per year over its 14-year mine life. This positions Greenstone as one of Canada's major gold mines.
Equinox Gold Corp. has completed the acquisition of the remaining 40% of Greenstone Gold Mine GP Inc. from Orion Mine Finance Management LP, now owning 100% of the Greenstone Mine in Ontario, Canada. The Company also closed a US$500 million three-year term loan. The President and CEO, Greg Smith, highlighted the strategic importance of this transaction, emphasizing the potential of the Greenstone Mine as a long-life, low-cost gold mine.
Equinox Gold Corp. announced positive results from its annual shareholder meeting, with approval for all matters, including management's director nominees, appointment of KPMG LLP as independent auditor, and executive compensation approach. Trudy Curran joined the Board, bringing expertise in capital markets, mergers, and acquisitions.
Equinox Gold Corp. (TSX: EQX) has released its 2023 ESG Report, highlighting achievements in environmental, social, and governance areas. The report covers improvements in environmental performance, safety targets, community engagement, and governance practices. Noteworthy accomplishments include beating environmental and safety targets, reducing GHG emissions, achieving high performance in biodiversity conservation, and community engagement. The company also outlined 2024 ESG priorities, focusing on health and safety, equity, diversity, and inclusion, and sustainable mining practices.
Equinox Gold Corp. reports first quarter 2024 financial and operating results, highlighting 111,725 ounces of gold produced, $1,567 cash costs per oz, and $1,950 AISC per oz. The company announced acquiring 100% ownership of Greenstone Mine and provided 2024 production and cost guidance. The recent developments include advancing Greenstone commissioning and entering a binding share purchase agreement with Orion Mine Finance Management LP. The Company extended existing convertible notes and reported a geotechnical event at Aurizona. Shareholder events for May 9, 2024, include a conference call, annual meeting, and Corporate Update.
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