Equinox Gold (TSX: EQX) this morning reported third quarter production results, indicating that a total of 236,470 ounces of gold were produced on a consolidated basis in Q3. The results are said to place the company on track to delivering on prior 2025 guidance of 785,000 to 915,000 ounces of gold.
The quarter was significant for Equinox, who saw the first gold pour occur at the Valentine Gold Mine, a second cornerstone asset within their portfolio. Commissioning is said to be proceeding well here, with the plant averaging 57% of nameplate capacity as of September 30. The new mine is forecasted to produce 15,000 to 30,000 ounces of gold in the fourth quarter, and is expected to hit nameplate capacity consistently by Q2 2026.
Greenstone meanwhile reportedly saw 3.8 million ore tonnes mined at an average grade of 0.91 g/t gold, while the mill processed 1.9 million tonnes at average grades of 1.05 g/t gold. Improvements continue to be made here from an operating perspective, with Q3 seeing a total of 56,029 ounces of gold production from the mine. 2025 production is currently anticipated to be at the lower end of the prior 220,000 to 260,000 ounce guidance.
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Elsewhere in the portfolio, Equinox’s Nicaraguan assets saw Q3 production of 71,119 ounces, while 67,629 ounces were produced in Brazil, 27,642 were produced at Mesquite and 10,797 ounces were mined at Pan.
The company also saw US$139.2 million in debt retired over the quarter with the conversion of September 2020 notes, while Equinox ended the quarter with cash and cash equivalents of $359 million.
“Equinox Gold delivered a solid third quarter, producing a record consolidated 236,470 ounces of gold, reflecting the strength of our expanded portfolio following the merger completed in June. Even after the divestment of our Nevada assets, we remain on track to deliver in the mid-range of our consolidated annual gold production guidance of 785,000 to 915,000 ounces,” commented Darren Hall, CEO of Equinox Gold.
Full financial results are scheduled to be released November 5 after markets close.
Equinox Gold last traded at $15.46 on the TSX.
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