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. reported its Q4 and full-year 2022 results, showcasing a strong operational quarter despite a net loss of $106 million for the year. The Company produced 532,319 ounces of gold at an all-in sustaining cost of $1,622 per ounce, with Q4 production reaching 150,439 ounces.
For 2023, the outlook is optimistic, projecting gold production between 555,000 to 625,000 ounces, and all-in sustaining costs of $1,575 to $1,695 per ounce. With $327 million in liquidity, Equinox aims to fund ongoing construction at the Greenstone project, now 65% complete.
Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) will release its audited financial and operational results for Q4 and FY 2022 on February 21, 2023, after market close. This announcement will also include 2023 production and cost guidance.
A live conference call and webcast will follow on February 22, 2023, at 7:30 am PT (10:30 am ET). The event will be available for replay on the company's website until August 22, 2023.
Equinox Gold Corp. (TSX: EQX) provides an update on its Greenstone Project in Ontario, Canada, reporting that construction is over 66% complete and on schedule to pour gold in H1 2024. The project, a 60/40 partnership with Orion Mine Finance Group, is expected to produce 400,000 ounces of gold annually for the first five years. As of December 31, 2022, 71% of total capital costs were contracted, with $680 million (55%) spent from a $1.23 billion budget. Key milestones include pre-production mining ahead of schedule, successful equipment delivery, and completion of vital infrastructure, including a permanent effluent water treatment plant.
Equinox Gold Corp. (NYSE: EQX) reported a strong Q4 2022 with 150,439 ounces of gold produced, leading to a total of 532,319 ounces for the year. The company ended 2022 with approximately $200 million in cash and significant liquidity, including $127 million available from its credit facility. Despite operational challenges earlier in the year, Equinox made substantial progress on projects like Greenstone and Santa Luz. The company continues to address production efficiencies and plans to release 2023 guidance soon.
Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) has sold 11 million common shares of Solaris Resources Inc. (TSX: SLS) for gross proceeds of C$70.4 million. Following this transaction, Equinox's ownership in Solaris has dropped to below 10%, and it will no longer file insider reports related to Solaris shares. Equinox has agreed not to sell any remaining Solaris securities for 120 days while maintaining supportive shareholder status. This strategic divestment reflects Equinox's ongoing evaluation of its capital requirements and business strategy.
Equinox Gold Corp. (TSX: EQX, NYSE: EQX) has entered into an equity distribution agreement for an at-the-market equity offering program with BMO Capital Markets and National Bank Financial. This program allows the Company to sell up to US$100 million of common shares in Canada and the U.S. The program is valid until December 21, 2024, with proceeds aimed at expanding production, potential mergers, and working capital. The Company has also amended an Investor Rights Agreement with Mubadala, granting a biannual top-up right regarding any shares issued through this offering.
Equinox Gold (EQX) reported its Q3 2022 financial results, with a gold production increase to 143,615 oz but a net loss of $30.1 million. The average realized gold price fell to $1,711/oz. Total cash costs were $1,400/oz, pushing AISC to $1,749/oz. Despite operational challenges, the new Santa Luz mine achieved commercial production on October 1. The company expects full-year production to be around 540,000 oz, with costs likely exceeding guidance by 5%. Liquidity improved through a credit facility amendment, increasing the revolving credit from $400 million to $700 million.
Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) will release its unaudited financial and operational results for the three and six months ending September 30, 2022 on November 2, 2022, after market close. A conference call and webcast are scheduled for the following day, November 3, 2022, at 7:30 am PT (10:30 am ET) to discuss these results. Interested parties can join via a toll-free number or through a webcast available on Equinox Gold’s website, which will remain archived until May 3, 2023.
Equinox Gold's recent feasibility study reveals a 44% increase in mineral reserves at the Los Filos Mine Complex, totaling 5.4 million ounces of gold. Average annual gold production is projected to reach 360,000 ounces from 2025 to 2030, with a mine life extended to 14.5 years. The study estimates an after-tax NPV of $625 million and an IRR of 26% at a gold price of $1,675/oz. A total of 3.97 million ounces are expected during the mine's lifespan, with average costs estimated at $1,081/oz.
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