Equinox Gold(US:EQX) Globenewswire·2026-01-14 11:30Core Viewpoint - Equinox Gold Corp. reported record gold production of 922,827 ounces in 2025, driven by operational improvements and an expanded portfolio, with expectations for continued momentum into 2026 [2][7]. Production Results - In Q4 2025, the company produced 247,024 ounces of gold, with contributions from various operations: 72,091 ounces from Greenstone, 23,207 ounces from Valentine, 61,885 ounces from Nicaragua, 73,745 ounces from Brazil, 14,761 ounces from Mesquite, and 1,336 ounces from Castle Mountain [7]. - Full Year 2025 production included 856,909 ounces within guidance of 750,000 to 915,000 ounces, plus an additional 65,918 ounces from Valentine, Los Filos, and Castle Mountain [7]. Financial Performance - Cash increased by 24% quarter over quarter to $430 million, despite $70 million in one-time tax settlements and $75 million in debt repayment, indicating strong cash flow generation [3]. - The company anticipates a significant strengthening of its balance sheet in 2026 following the sale of its Brazil operations, which is expected to close in Q1 2026 [5]. Operational Guidance - For 2026, the company expects production to benefit from the ramp-up at Valentine and improvements at Greenstone, with updated technical reports for both mines to be published by the end of Q1 2026 [10]. - The company plans to maintain a disciplined approach to capital allocation, focusing on high-return opportunities and a development pipeline that could add approximately 450,000 to 550,000 ounces of incremental annual gold production in the coming years [4][18]. Cost and Capital Guidance - The 2026 guidance includes cash costs of $1,425 to $1,525 per ounce and all-in sustaining costs (AISC) of $1,775 to $1,875 per ounce for consolidated operations [8]. - Growth capital is budgeted at $325 to $375 million, with significant investments planned for Greenstone and Valentine to support operational improvements and development [8][14]. Expansion Projects - The Phase 2 expansion at Valentine is expected to increase processing throughput from 2.5 million to over 4.5 million tonnes per year, potentially boosting annual production by approximately 25% to 225,000 to 250,000 ounces [19]. - At Castle Mountain, the expansion is progressing through the federal permitting process, with a Record of Decision expected in December 2026 [20]. Community Engagement - At Los Filos, two of three local communities have signed long-term agreements to support the mine's development, while operations remain suspended pending an agreement with the third community [21].