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. (TSX: EQX, NYSE American: EQX) has announced the conversion of a US$130 million convertible note held by MDC Industry Holding Company , resulting in the issuance of 24,761,905 common shares to Ninety Fourth Investment Company Additionally, Equinox Gold and Ninety Fourth have entered into an agreement with BMO Capital Markets for a secondary offering of these shares at US$5.65 per share, totaling approximately US$140 million in gross proceeds.
The offering is expected to close around October 9, 2024, subject to conditions. Equinox Gold will not receive any proceeds from the sale. Following the offering, MDC will retain a second US$130 million convertible note with a September 10, 2025 maturity date and a US$6.50 per share conversion price.
Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) has announced an updated Mineral Resource Estimate (MRE) for its Hasaga Property in Red Lake, Ontario. The new MRE focuses on high-grade gold mineralization, departing from the previous bulk-tonnage approach. Key highlights include:
- Indicated Mineral Resource: 1.470 million tonnes at 8.64 g/t gold for 408,000 ounces of contained gold
- Inferred Mineral Resource: 2.059 million tonnes at 7.31 g/t gold for 484,000 ounces of contained gold
The main zones of gold mineralization remain open, with potential for resource growth and new discoveries. Hasaga is located in the Red Lake Gold District, which has produced over 30 million ounces of gold. The property hosts three past-producing gold mines and sits on the main northeast-southwest trend, approximately 5 km southwest of the Red Lake Mine Complex.
Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) celebrates the official opening of its Greenstone Mine in Geraldton, Ontario. The event will be live-streamed at www.GreenstoneGoldMines.com starting at 11:00am ET. Greg Smith, President & CEO, highlighted the mine's significance as one of Canada's largest and lowest-cost gold producers.
The Greenstone Mine poured first gold on May 22, 2024, after beginning construction in October 2021. The mine's ramp-up to commercial production has been impressive, with gold production increasing from 2,625 ounces in May to 19,750 ounces in July. As of August, average throughput has exceeded 60% of design capacity. This achievement comes after Equinox Gold acquired Orion Resource Partners' 40% stake in May, becoming the sole owner of the mine.
Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) has successfully completed its 'Ride to Greenstone' fundraiser, raising over C$1.5 million for healthcare initiatives. The cycling team, covering 3,634 kilometers from Vancouver to Geraldton, will deliver a C$1.3 million cheque to the Geraldton District Hospital. Additional funds were raised by Equinox Gold's international teams for local charities.
The event, supported by notable Gold Sponsors, precedes the Greenstone Mine's grand opening on August 29th. Funds raised will benefit healthcare services in Northern Ontario, covering a 2,767-km² region including five Indigenous communities and the mine workforce. A live stream of the cyclists' arrival and celebrations will be available on the Greenstone Gold Mines YouTube page from 11:00 am to 1:00 pm ET.
Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) has issued a correction to its previously released second quarter 2024 financial and operating results. The company clarified that in connection with a new Term Loan, it had entered into gold collar contracts to deliver a total of 279,996 ounces, not 279,996 ounces per month as initially stated. This error appeared in both the news release and the company's management's discussion and analysis (MD&A) for the three and six months ended June 30, 2024.
Equinox Gold will file the corrected MD&A on SEDAR+, EDGAR, and the company's website. The correction does not affect any other information in the original news release or MD&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.
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