Equinox targets one-third production jump this year
Canada-based gold miner Equinox Gold has finished 2023 strongly, not only achieving its gold guidance, but also setting out plans for a big step up in output this year.
Equinox, which has seven operating gold mines in the US, Mexico and Brazil, has set its guidance for 2024 at between 660 000 oz and 750 000 oz.
This compares with 2023’s output of 564 458 oz of gold at an all-in sustaining cost of $1 622/oz.
The company is set to start production from a new mine this year, with the 60%-owned Greenstone project, in Canada, nearing completion.
“After 2.5 years, construction was substantially complete at year-end, which is a huge accomplishment for the team. The focus at Greenstone has shifted now to hot commissioning and operations ramp-up, with first gold on schedule for the first half of 2024,” president and CEO Greg Smith said on Wednesday.
Once fully operational, the Greenstone mine will produce 400 000 oz/y.
Equinox reported net income of C$28.9-million, or C$0.09 a share, compared with a net loss of C$106-million, or C$0.35 a share, a year earlier.
Adjusted net income was C$21.7-million, or C$0.07 a share, compared with an adjusted loss of C$91.5-million, or a loss of C$0.30 a share.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation