Equinox Gold Corp. reports news as a Canadian gold mining company with operating mines and development projects across Canada and the Americas. Recurring updates cover gold production, operating costs, financial results, Mineral Reserves and Mineral Resources, technical reports, and operating progress at assets including the Greenstone Gold Mine in Ontario and the Valentine Gold Mine in Newfoundland and Labrador.
Company announcements also address expansion and development work at projects such as Castle Mountain and Los Filos, portfolio changes following the completed Calibre combination, balance-sheet management, dividends, normal course issuer bids, and annual shareholder meeting results. The news record reflects a producer focused on gold operations, mine ramp-ups, exploration and capital allocation.
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.
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.