Equinox Gold Reports Record Results for 2024 with 623,579 Ounces of Gold Sold, Revenue of $1.5 Billion and Operating Cash Flow of $430 Million

Core Insights - Equinox Gold reported record financial results for 2024, with 623,579 ounces of gold sold, generating revenue of $1.5 billion and operating cash flow of$430 million [1][2][12] Operational Highlights - The company achieved an annual production record of 621,893 ounces of gold, with the fourth quarter being the strongest production quarter [2][10] - The new Greenstone Mine contributed significantly, producing over 111,700 ounces of gold in its first partial year of operations [2][19] - For the fourth quarter, the company produced 213,964 ounces of gold and sold 217,678 ounces at an average realized price of $2,636 per ounce [5][20] Financial Performance - The company reported net income of$339.3 million or $0.85 per share for the year, with adjusted net income of$96.7 million or $0.24 per share [13][20] - Cash costs for the year were$1,598 per ounce, with all-in sustaining costs (AISC) at $1,870 per ounce [20][24] - The company generated cash flow from operations of$430.2 million before changes in non-cash working capital [12][17] 2025 Guidance - Equinox Gold expects to produce between 635,000 to 750,000 ounces of gold in 2025, with cash costs estimated at $1,075 to$1,175 per ounce and AISC of $1,455 to$1,550 per ounce [3][27] - The company plans to use increased cash flow to reduce corporate debt, targeting approximately $200 million in debt repayment [37][38] Recent Developments - The company is advancing permitting for the Castle Mountain expansion and consolidating its Fazenda and Santa Luz mines into a combined unit called the Bahia Complex [4][39] - New long-term agreements with local communities at the Los Filos Mine are crucial for continued operations, with two communities ratifying agreements while one remains outstanding [28][50]