Equinox Gold achieves FY guidance
Canadian mining company Equinox Gold has achieved its 2021 guidance with output of 602 100 oz – a 26% increase over 2020 production.
The TSX- and NYSE American-listed company’s guidance for the year was 560 000 oz to 625 000 oz.
During 2021, Equinox produced its millionth ounce of gold as a company and realised more than $1-billion in revenue.
"Equinox had a strong fourth quarter. Outstanding performance at Mesquite and Aurizona was supported by a full quarter of operations at Los Filos and consistent performance at our other mines,” commented CEO Christian Milau.
The Los Filos mine outperformed expectations and exceeded the top end of guidance following five months of consistent operations in the second half of 2021 and the commencement of mining the new Guadalupe and Bermejal deposits.
During the quarter, the company started construction at the Greenstone project in Ontario, Canada, and made significant construction progress at Santa Luz, in Brazil.
These new mines will produce more than 400 000 oz (of which 60% is attributable to Equinox Gold) and 100 000 oz of gold annually, respectively.
Equinox reports that Santa Luz is on target for its first gold pour late in the first quarter of 2022. The Greenstone project is targeting its first gold pour in the first half of 2024.
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