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Equinox Gold eyes growth after record production, focuses on debt reduction
KITCO· 2025-02-18 20:09
ShareDisclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpab ...
Equinox Gold to Announce 2024 Financial and Operating Results and 2025 Guidance on February 19, 2025
Newsfile· 2025-02-05 17:30
Equinox Gold to Announce 2024 Financial and Operating Results and 2025 Guidance on February 19, 2025February 05, 2025 12:30 PM EST | Source: Equinox Gold Corp.Vancouver, British Columbia--(Newsfile Corp. - February 5, 2025) - Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) will announce its financial and operating results for the fourth quarter and fiscal year ended December 31, 2024, along with its 2025 production and cost guidance, on Wednesday, February 19, 2025, after market close. Equi ...
Equinox Gold Announces Filing of Fazenda Technical Report
Newsfile· 2025-02-01 00:48
Core Insights - Equinox Gold Corp. has filed a National Instrument 43-101 Technical Report regarding the updated Mineral Reserve and Mineral Resource estimate for its Fazenda Mine in Brazil [1] - The results of the updated estimates were previously announced on January 7, 2025 [1] Company Information - The technical report is accessible for download on Equinox Gold's official website and through its profiles on SEDAR+ and EDGAR [2]
Equinox Gold Reports Record Preliminary Gold Production in Q4
ZACKS· 2025-01-10 17:51
Core Insights - Equinox Gold Corp. achieved record gold production of 213,960 ounces in Q4 2024, contributing to an annual total of 621,870 ounces, within the guidance range of 590,000-675,000 ounces [1][2] Financial Position - At the end of 2024, Equinox Gold had approximately $240 million in cash and equivalents, with an additional $105 million available from its revolving credit facility and a $100 million undrawn accordion feature [2] - The company reduced its debt by $180 million through a $40 million payment to Orion Mine Finance and the conversion of $140 million in convertible notes into equity [3] Operational Updates - Equinox Gold acquired full ownership of the Greenstone mine in 2024, achieving commercial production and producing around 111,700 ounces of gold in its first partial year of operations [4] Stock Performance - Over the past year, Equinox Gold's shares increased by 26.9%, outperforming the industry growth of 24.3% [5]
Equinox Gold Reports Record Quarterly and Annual Gold Production: Produced 213,960 Ounces of Gold in Q4 2024 and 621,870 Ounces of Gold for Full-Year 2024
Newsfile· 2025-01-08 22:30
Equinox Gold Reports Record Quarterly and Annual Gold Production: Produced 213,960 Ounces of Gold in Q4 2024 and 621,870 Ounces of Gold for Full-Year 2024January 08, 2025 5:30 PM EST | Source: Equinox Gold Corp.All dollar figures are in US dollars, unless otherwise indicated.Vancouver, British Columbia--(Newsfile Corp. - January 8, 2025) - Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ("Equinox Gold" or the "Company") is pleased to report that the Company recorded its strongest quarterly ...
Equinox Gold Extends Fazenda Mine Life by Seven Years with Updated Mineral Reserve and Mineral Resource Estimate
Newsfile· 2025-01-07 22:30
Equinox Gold Extends Fazenda Mine Life by Seven Years with Updated Mineral Reserve and Mineral Resource EstimateJanuary 07, 2025 5:30 PM EST | Source: Equinox Gold Corp.Vancouver, British Columbia--(Newsfile Corp. - January 7, 2025) - Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ("Equinox Gold" or the "Company") is pleased to announce that an updated Mineral Reserve and Mineral Resource estimate effective June 30, 2024 for its Fazenda Mine ("Fazenda") has extended the Fazenda mine life t ...
3 Gold Stocks to Buy With the Metal Closing Out a Fabulous Year
ZACKS· 2025-01-03 14:35
Gold had a fabulous 2024, outperforming the stock market in general. Bullion jumped more than 27% in the calendar year compared with the 23% growth of the S&P 500. This was the biggest annual jump for gold in 14 years. In fact, the precious metal grew more than 30% in the year before correcting a bit as a fall-out of the U.S. elections.Historically, gold has rallied when bonds become less attractive. This is because higher interest rates increase the burden on holding gold as it does not pay a yield. Hence, ...
Equinox Gold(EQX) - 2024 Q3 - Earnings Call Transcript
2024-11-07 19:05
Financial Data and Key Metrics Changes - In Q3 2024, the company produced and sold just under 174,000 gold ounces, achieving revenues of $428 million, driven by higher production and gold prices [5][13] - Adjusted EBITDA for Q3 2024 was $142 million, an increase of $61 million compared to Q3 2023 [19] - The cash cost per ounce sold was $1,720, while the all-in sustaining cost was $1,994 per ounce [5][17] - Net income for the quarter was $300,000, with adjusted net income of $37 million or $0.09 per share [20] Business Line Data and Key Metrics Changes - Greenstone produced just over 42,000 ounces of gold in Q3, with total production since May reaching just under 59,000 ounces [7][8] - At Mesquite, gold production was 15,223 ounces with an all-in sustaining cost of $1,421 per ounce [30] - Los Filos produced 48,462 ounces, marking the second highest quarter since acquisition, with an all-in sustaining cost of $2,153 per ounce [31] - Aurizona produced 17,181 ounces at an all-in sustaining cost of $2,145 per ounce [32] Market Data and Key Metrics Changes - The company achieved record gold sales and the highest revenue and adjusted EBITDA for any quarter, attributed to strong gold prices [37] - The average cash cost at Greenstone is expected to be significantly lower now that it is in commercial production [40] Company Strategy and Development Direction - The company aims to focus on deleveraging, using free cash flow from mines to pay down debt [25] - With Greenstone now in commercial production, the company plans to ramp up mining rates and plant throughput through Q4 [8][25] - The company is actively engaged in negotiations with communities around Los Filos to secure long-term operational agreements [52] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about Q4, expecting it to be another strong quarter due to increasing production and favorable gold prices [38] - The ramp-up at Greenstone is progressing well, with expectations for significant cash flow generation [28] Other Important Information - The company raised over CAD1.3 million for the Geraldton District Hospital and $200,000 for local charities [11] - A change in the board of directors occurred with Fraz Siddiqui stepping down [12] Q&A Session Summary Question: Clarification on commercial production criteria for Greenstone - Management explained that the criteria for declaring commercial production were conservative, and the mine's performance justified the declaration [39][40] Question: Unit costs at Greenstone - Management indicated that mining costs are on plan and will provide more data offline [41][42] Question: Recovery rates at Santa Luz - Recovery rates are currently averaging about 68% without de-sliming, with plans to refine the de-sliming circuit for better performance [43][46] Question: Update on Aurizona and Piaba pit - Management confirmed that Q4 was always the target for starting work in the Piaba pit, and they are on track with expectations [47][48] Question: Deleveraging plan and timeline - The company plans to retire maturing debt and optimize its debt maturity ladder as part of its deleveraging strategy [49][50] Question: Community negotiations at Los Filos - Management noted that constructive discussions are ongoing, and securing new agreements is critical for the mine's future [52][53]
Equinox Gold(EQX) - 2024 Q3 - Quarterly Report
2024-11-07 01:34
Management's Discussion and Analysis For the three and nine months ended September 30, 2024 (Expressed in United States Dollars, unless otherwise stated) Management's Discussion and Analysis For the three and nine months ended September 30, 2024 This Management's Discussion and Analysis ("MD&A") of the financial position and results of operations for Equinox Gold Corp. (the "Company" or "Equinox Gold") should be read in conjunction with the audited consolidated financial statements of the Company as at and ...
Equinox Gold's Greenstone Mine Announces Commercial Production
Newsfile· 2024-11-07 01:01
Vancouver, British Columbia--(Newsfile Corp. - November 6, 2024) - Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ("Equinox Gold" or the "Company") is pleased to announce that based on the operating progress achieved through October, its Greenstone Mine in Ontario, Canada has reached commercial production. Greg Smith, President & CEO of Equinox Gold, commented: "With the Greenstone Mine continuing to ramp up and generating positive operating cash flow, we are pleased to announce commercial production a ...