Equinox Gold Greenstone Mine to Pour First Gold This Month

SEATTLE (Scrap Monster): Equinox Gold Corp. announced first quarter 2024 financial and operating results.

The company had recently announced the acquisition of 40% interest of its joint venture partner in the Greenstone Mine, thereby consolidating 100% ownership of the mine into Equinox Gold. The acquisition is expected to come to a close soon. The commissioning of the world-class mine is in progress, with the first gold expected to be poured this month itself, it noted.

According to company press release, the income from mine operations totalled $11.4 million in Q1 2024, down from $14.5 million during the same quarter a year before. Equinox Gold sold 116,504 ounces of gold at an average realized gold price of $2,066 per ounce. The quarterly gold production totalled 111,725 ounces, lower when compared with 122,746 ounces produced during the three-month period ended 31st March, 2023.

The company reported net loss of $42.8 million or $0.13 per basic share in Q1 2014. The adjusted net loss stood at $14.4 million or $0.04 per share. The revenue recorded surge from $234.1 million to $241.3 million year-on-year.

Equinox Gold provided production guidance of 660,000-750,000 ounces of gold at cash costs of $1,340-$1,445 per ounce for 2024.