Equinox delivers strongest production year yet
Canadian miner Equinox Gold has reported its strongest quarterly and yearly gold production in its history, having produced 213 906 oz of gold in the fourth quarter and 621 870 oz in the full year.
This was against yearly guidance of between 590 000 oz and 675 000 oz from its seven operating gold mines in Canada, the US, Mexico and Brazil.
Equinox president and CEO Greg Smith says last year was pivotal for the company, particularly with the company having consolidated 100% ownership of the Greenstone mine, in Ontario.
He adds that the group’s other mines also contributed to the company’s strong results, but Greenstone will be the key driver of growth this year at it ramps up to full capacity.
Notably, the Mesquite mine exceeded its yearly guidance of between 55 000 oz and 65 000 oz, having produced 71 980 oz. Similarly, the Castle Mountain produced 20 510 oz in the year, against guidance of about 15 000 oz.
The company ended the year with $240-million in cash and cash equivalents. During the fourth quarter, Equinox reduced its debt by $180-million.
Equinox will release its full financial and operating results, as well as production guidance for the new year late in February.
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