Equinox Gold Sees Record Production Of 621,870 Ounces In 2024, Meeting Guidance

Equinox Gold (TSX: EQX) is reporting that it just experienced its strongest quarter and year of production in company history. The statement follows the company producing 213,960 ounces of gold in the fourth quarter of 2024.

For the full fiscal year, Equinox produced 621,870 ounces of gold, with much of that production coming from two mines. While the company was quick to highlight its successes at Greenstone, which is still ramping to full production, Los Filos was still the firms largest source of production, with the mine producing 170,370 ounces of gold in 2024.

Greenstone comparatively had production of 111,710 gold ounces, which is a result of a partial year of production. Across Equinox’s eight producing mines, Mesquite and Castle Mountain exceeded their guidance ranges, while Fazenda and Santa Luz both came up short.

Overall, Equinox met its guidance range of 590,000 to 675,000 ounces of production, although it came up short on its midpoint of 632,500, despite the record production figures.

“Several of our mines delivered their strongest fourth quarter in the Company’s history, contributing to consolidated 2024 production of approximately 621,870 ounces of gold, the highest annual production since Equinox Gold’s founding. As Greenstone ramps up to full capacity, we look forward to continued growth in 2025,” commented Greg Smith, CEO of Equinox, on the results.

READ: Equinox Gold Extends Fazenda Mine Life To 2033 Following Reserve Update

Equinox also added that it ended the year with an estimated $240 million in cash and equivalents, and a further $105 million that can be accessed via credit facilities, and $100 million that is accessible via an accordion feature. Equinox meanwhile cut its debt by $180 million in Q4, which was completed via a debt payment to Orion Mine Finance and the conversion of certain convertible notes.

Equinox Gold last traded at $8.35 on the TSX.


Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

Giant Mining Encounters Native Copper As Hole MHB-34 Hits 563 Metres Depth

Verses Hits Commercialization Stage With Genius AI Platform

Related News

Haywood Lowers Equinox Gold’s Price Target Following RDM Mine Suspension

On May 16, Equinox Gold (TSX: EQX) announced that they are temporarily suspending operations at...

Thursday, May 19, 2022, 10:49:00 AM

Equinox Gold Guides To Cost Increases For 2024, Including Up To $1,740 An Ounce AISC

Equinox Gold (TSX: EQX) is anticipating the cost of production to rise in 2024 across...

Thursday, February 22, 2024, 09:24:14 AM

Equinox Gold To Acquire Calibre Mining At Discount To Market

There’s about to be one less producer in the mining space, with Equinox Gold (TSX:...

Monday, February 24, 2025, 08:12:35 AM

Elemental Royalties: Key Gold Royalty Project Commences Production

On June 25, Elemental Royalties Corp. (TSXV: ELE), a gold-focused royalty company, announced that continuous...

Friday, July 2, 2021, 01:30:00 PM

Equinox Gold: Mercedes Mine Sale Was “A Favourable Sale Price For A Non-Core Asset”

On December 17th, Equinox Gold (TSX: EQX) announced that they reached an agreement to sell...

Sunday, December 26, 2021, 02:14:00 PM