Equinox Gold Announced Record Q3 Gold Output

SEATTLE (Scrap Monster): Equinox Gold Corporation announced financial and operating results for the third quarter of the current year.

The company delivered strong Q3 results, registering third quarter record for production, revenue and EBITDA. Equinox Gold produced 149,089 ounces of gold during the quarter and generated $285 million in revenue. The EBITDA and adjusted EBITDA stood at $65 million and $81.2 million respectively. The gold sales totalled 148,231 ounces at an average realized gold price of $1,917 per oz.

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The income from mine operations was $25.2 million during the quarter. Equinox Gold reported net income of $2.2 million or $0.01 per basic share in Q3 2023. Also, its adjusted net income was $28.7 million or $0.09 per share. The company reported $82.6 million cash flow from operations before changes in non-cash working capital. The net debt was $729.5 million as at the end of the quarter.

Greg Smith, President and CEO, Equinox Gold announced significant progress in its Greenstone project, with first gold pour expected in the first half of 2024. As at the end of the quarter, the project has achieved 93% overall completion. The company remains fully funded to complete Greenstone construction. Also, it continues to remain focused on delivering its full-year cost and production guidance.