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) announced the achievement of commercial production at its Santa Luz Gold Mine in Brazil, effective October 1, 2022. The mine is operating at around 90% of its design capacity of 7,400 tonnes per day, with gold recoveries between 70% and 85%. Approximately 23,000 ounces of gold were produced by September 30, 2022, with expectations for increased production in Q4 2022. The mine is projected to average 100,000 ounces of annual production, with potential for further life extension.
Equinox Gold Corp. (TSX: EQX, NYSE-A: EQX) has announced the resumption of operations at its Los Filos Mine in Mexico following the removal of a blockade by Mezcala community leaders on September 10. The company aims to strengthen relationships with local communities for long-term stability at the site. Equinox operates six gold mines and is on track for over one million ounces of annual gold production from its assets. The company emphasizes ongoing engagement with stakeholders to ensure sustainable operations.
Equinox Gold Corp. (TSX: EQX) announced a temporary suspension of mining activities at its Los Filos Mine in Mexico due to an illegal blockade by the Mezcala community, preventing essential supply deliveries. The company is engaging with community leaders to resolve the situation and restore full operations.
Equinox Gold Corp. reported its Q2 2022 financial results, producing 120,813 ounces of gold with sales averaging $1,856 per ounce. Despite operational challenges, a net loss of $78.7 million was recorded, alongside a reduction in earnings from mine operations to $17 million, significantly down from $41.3 million a year prior. The company expects improved performance in H2 2022, bolstered by the Santa Luz plant achieving commercial production and ongoing developments at the Greenstone project, projected to yield over 200,000 ounces annually from 2024.
Equinox Gold Corp. announced on August 3, 2022, that Christian Milau will be leaving his position as CEO to pursue opportunities in the carbon finance sector. The Board of Directors appointed Greg Smith, previously President, as the new CEO effective September 1, 2022. Ross Beaty, Chair of Equinox Gold, praised Milau's leadership during significant company growth and expressed confidence in Smith's abilities to manage operations and advance the company’s long-term goals, including ongoing construction of Greenstone and expansion projects.
Equinox Gold Corp. (TSX: EQX) announced a revised credit facility to strengthen its balance sheet and liquidity. Key changes include increasing the revolving facility limit from $400 million to $700 million, with $300 million drawn at the end of Q2 2022 and an additional $100 million drawn in July 2022. The facility eliminates principal payments until mid-2026 and adds a $100 million uncommitted accordion feature. Pricing for advances has been reduced, and the maturity date extended to July 2026. CFO Peter Hardie emphasized the benefits of this financial flexibility for the company's growth strategy.
Equinox Gold Corp. (TSX: EQX) has announced that its Greenstone Project in Ontario, Canada, is on track for completion. As of July 22, 2022, the project is 35% complete, with a budget of $1.23 billion and $315 million expended. Independent assessments confirm that it remains on schedule to pour gold by mid-2024. Key developments include the delivery of haul trucks, with pre-production mining set to begin in Q4 2022. Overall, the project is on budget with no recorded lost-time injuries, allowing for sustained progress despite inflation and supply chain challenges.
Equinox Gold Corp. (TSX: EQX) will release its unaudited financial and operational results for Q2 2022 on August 3, 2022, after market close. A conference call and webcast will follow on August 4, 2022, at 7:30 AM PT (10:30 AM ET) for discussion of the results. Investors can access the call toll-free in the U.S. and Canada at 1-800-319-4610 or internationally at +1 604-638-5340. The webcast will be available for archival viewing on Equinox Gold's website until January 4, 2023.
Equinox Gold Corp. (TSX: EQX) has received approval for the tailings storage facility (TSF) raise at its RDM Mine in Brazil, following its earlier announcement. The contractor is set to mobilize equipment in early June, aiming for full operational resumption by mid-July 2022. An update on RDM's guidance will be provided with Q2 2022 disclosures in the first week of August. The company warns that forward-looking statements in this release are subject to risks and uncertainties that could impact actual results.
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