Equinox sets 2020 guidance, aims for 1Moz in next two years
TSX- and NYSE American-listed Equinox Gold on Tuesday provided a production and cost guidance for 2020, reflecting its production expectations following the recent closure of its merger with Leagold Mining.
Total 2020 production, including gold produced by Leagold before completion of the merger on March 10, is estimated at 615 000 oz to 680 000 oz.
"With the merger complete, Equinox Gold expects to more than triple its annualised gold production in 2020 and is fully funded to increase production over the next two years to more than one-million ounces of gold annually,” said CEO Christian Milau.
Equinox’s three biggest mines are Los Filos, in Mexico, Mesquite, in the US, and Aurizona, in Brazil.
The guidance for the newly acquired Los Filos, Fazenda, RDM and Pilar mines reflects production expectations from March 10 to December 31, while the Aurizona, Mesquite and Castle Mountain guidance is for a full year.
The Los Filos mine is forecast to produce 170 000 oz to 190 000 oz at an all-in sustaining cost (AISC) of $1 000/oz to $1 050/oz.
The guidance for Mesquite is 120 000 oz to 130 000 oz at an AISC of $975/oz to $1 025/oz and for Aurizona it is 1150 000 oz to 125 000 oz at an AISC of $1 100/oz to $1 150/oz.
The other mines, including Fazenda, RDM, Pilar and Castle Mountain, would make up the balance.
The company noted that it could revise the guidance during the year to reflect changes to expected results, including from effects related to the Covid-19 pandemic.
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