Equinox Gold Delivers Solid Second Quarter 2025 Financial and Operating Results

Core Insights - Equinox Gold Corp. reported solid financial and operational results for Q2 2025, indicating a pivotal growth phase with significant production increases and upcoming contributions from new assets [2][3][4]. Financial Highlights - The company produced 219,122 ounces of gold in Q2 2025, with cash costs of $1,478 per ounce and all-in sustaining costs (AISC) of $1,959 per ounce [7][10]. - Revenue for Q2 2025 was $478.6 million, with a net income of $23.8 million, translating to $0.05 per share [10][33]. - Adjusted EBITDA for the quarter was $200.5 million, reflecting strong operational performance [10][33]. Operational Highlights - Mining rates at the Greenstone project increased by 23%, and processing rates improved by 20% compared to Q1 2025 [3]. - The company anticipates a strong Q3 2025, driven by contributions from the Calibre assets, the startup of the Valentine Gold Mine, and continued improvements at Greenstone [3][4]. Production Guidance - Equinox Gold expects full-year consolidated production to be between 785,000 to 915,000 ounces for 2025, with a strong second half anticipated [4][17]. - The company’s updated guidance reflects the integration of Calibre assets and a focus on ramping up production at Greenstone and Valentine [17][18]. Cash Flow and Debt Management - Cash flow from operations before changes in non-cash working capital was $126.0 million for Q2 2025, with mine-site free cash flow before changes in non-cash working capital at $154.5 million [10][29]. - As of June 30, 2025, the company had cash and cash equivalents of $406.7 million and net debt of $1,373.7 million [11][10]. Strategic Developments - The acquisition of Calibre Mining Corp. was completed on June 17, 2025, enhancing the scale and earnings power of the combined company [4][7]. - The Valentine Gold Mine is in the final stages of commissioning, with ore processing expected to commence by the end of August 2025 [11][10].