Equinox nears one-million-ounce full-year production after Orla merger
TSX- and NYSE-listed Equinox Gold Corporation reported gold production of 237 019 oz in the three months ended September 30, which includes two months of attributable production from Orla Mining's Musselwhite and Camino Rojo operations after a recent merger.
Equinox reported consolidated year-to-date gold production of 611 483 oz, which puts it on track to produce between 870 000 oz and 920 000 oz in the full year. When including a 12-month contribution of Orla's production, the combined group's production will be 1.1-million ounces for the year.
The group says its Canadian operations delivered solid production in the third quarter, led by steady improvements at the Valentine and Greenstone mines, as well as a strong performance at the Musselwhite mine.
Equinox managed to repay $190-million of debt in the quarter, bringing its year-to-date debt repayments to $1.2-billion.
The company ended the reporting quarter with $527-million in cash and a net cash position of $163-million. Its total available liquidity is $1.2-billion.
During the quarter under review, Equinox repurchased 759 000 shares at a cost of $9-million, which amounts to 1.6-million shares having been bought back for $20.7-million in the year-to-date.
"The [reporting] quarter was transformational. We completed our combination with Orla, bringing together a portfolio of assets positioned to generate significant free cashflow and long-term value for shareholders.
"Equinox is now an emerging senior gold producer anchored by three high-quality, long-life mines in Canada - coupled with a standout pipeline of organic growth projects we expect to fund internally," states Equinox president Jason Simpson.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Latest Multimedia
Latest News
Showroom
The Aluminium Federation of South Africa (AFSA), is the voice of the South African aluminium industry.
VISIT SHOWROOM
Roytec Global is an international company specializing in liquid / solid and mineral separation technologies for the Mining and Industrial sectors.
VISIT SHOWROOM
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
