Equinox Gold Stock Price, News & Analysis

Equinox Gold Corp. (TSX: EQX) will release its unaudited financial and operating results for the second quarter of 2021 on August 4, 2021. The company will conduct a live conference call and webcast on August 5, 2021, at 7:00 am PT (10:00 am ET), allowing analysts and investors to engage with the executive team. This event is crucial for stakeholders to gain insights into the company's performance and future outlook. The webcast will be available on the company's website until February 5, 2022.

Equinox Gold Corp. (EQX) has commenced mining operations at its Santa Luz Gold Mine in Brazil, with plans to start gold production in Q1 2022. The company is on track for commissioning in Q4 2021, aiming for an annual output of 110,000 ounces of gold for the first five years. As of June 2021, approximately $31 million has been spent of the $103 million budget, with significant construction milestones achieved, including the installation of the ball mill. The project is 41% complete, with engineering and procurement nearly finalized.

Equinox Gold Corp. (TSX: EQX) has suspended mining activities at its Los Filos Mine in Mexico due to illegal blockades imposed by unionized employees and members of the Xochipala community. These groups are demanding payments above their contractual obligations. The company is actively seeking a long-term solution to resume operations effectively. This situation may affect production and cost estimates, as indicated in the company's forward-looking statements.

Equinox Gold Corp. (TSX: EQX) reported that shareholders approved all agenda items during its annual general meeting held on May 5, 2021. Key outcomes included the election of nine directors, re-appointment of KPMG LLP as the independent auditor, and approval of amendments to the Company's Articles to increase the quorum threshold for meetings. The 'Say on Pay' advisory vote supporting executive compensation received 98.82% approval. A total of 140,100,255 common shares, accounting for 57.74% of issued shares, were represented at the meeting.

Equinox Gold Corp. announced its Q1 2021 financial results on May 5, revealing significant operational updates and challenges. The company produced 129,233 ounces of gold and achieved a net income of $50.3 million, or $0.21 per share. Despite these figures, adjusted net loss stood at $3.6 million, highlighting operational difficulties and higher costs. Notably, cash costs rose to $1,141 per ounce, impacting profit margins. The company maintains its production guidance of 600,000-665,000 ounces for 2021, bolstered by acquisitions including Premier Gold and investments in the Greenstone Project.

Equinox Gold (TSX: EQX) has successfully completed the sale of 10 million shares of Solaris Resources Inc. (TSX: SLS), generating C$82.5 million in gross proceeds. The transaction also includes granted warrants allowing buyers to purchase an additional 5 million Solaris shares at C$10.00 per share over the next 12 months, potentially adding C$50.0 million if fully exercised. The Company acknowledges potential risks and uncertainties regarding future proceeds from these warrants.

Equinox Gold Corp. (NYSE American: EQX) will hold its annual general meeting (AGM) on May 5, 2021, at 1:30 pm Vancouver time. The company will announce its first quarter 2021 financial results during market hours on the same day and discuss them in a corporate update at 2:00 pm. Due to COVID-19, the AGM will be virtual, with registered shareholders able to submit questions. Proxy forms for voting must be submitted by May 3, 2021. Detailed meeting materials are available on Equinox Gold's website.

Equinox Gold Corp. (NYSE American: EQX) has sold its Pilar Gold Mine in Brazil to Pilar Gold Inc. for a total of $38 million. The payment structure includes $10.5 million on closing, $10 million due by May 31, and $17.5 million by July 31, 2021. Equinox will also receive a 9.9% equity interest in Pilar Gold Inc. and a 1% net smelter returns royalty. The Pilar Gold Mine represents approximately 35,000 ounces (5%) of Equinox's 2021 production guidance of 600,000 to 665,000 ounces of gold.

Equinox Gold Corp. has successfully acquired an additional 10% interest in the Greenstone Project, now holding 60% overall. The transaction, which closed on April 16, 2021, involved a cash payment of US$51 million to Orion Mine Finance Group. The Company also agreed to pay US$5 million contingent on a positive mine construction decision, plus approximately 2,200 ounces of refined gold based on production milestones. This joint venture is expected to yield over 240,000 ounces of gold annually upon production.