Equinox Gold Aims to Triple Gold Production

SEATTLE (Scrap Monster):  Equinox Gold provided production and cost guidance for 2020. The company expects to triple its annualized gold production in 2020, boosted by its recent merger with Leagold Mining.

The company announced production and cost guidance of 540,000 to 600,000 ounces of gold at all-in-sustaining costs of $1,000 to $1,060 per oz. The total consolidated gold production is estimated at 615,000-680,000 oz.

Three of the company’s mines are likely to account for more than 50% of the anticipated annual production in 2020. The Los Filos mine in Mexico is expected to produce 170,000-190,000 oz at AISC of $1,000-$1,050/oz. The production from Mesquite mine in California is projected at 120,000-130,000 oz at an AISC of $975-$1,025/oz. Meantime, Aurizona mine in Brazil is forecast to record production of 115,000-125,000 oz at an AISC of $1,100-$1,150/oz.

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Christian Milau, CEO, Equinox stated that the company is fully funded to boost production to more than 1 million ounces per year, over the next two years. However, he noted that the operations are feared to be impacted by COVID-19 pandemic, which may force the company to adjust its guidance.