- Equinox Gold (TSX/NYSE:EQX) has achieved commercial production at its 100-per-cent-owned Valentine gold mine in Newfoundland & Labrador
- Equinox Gold is a gold explorer, developer and producer with a portfolio of high-quality, long-life operations in Canada and the Americas
- The gold stock has added 132.96 per cent year-over-year but only 34.25 per cent since 2020
Equinox Gold (TSX/NYSE:EQX) has achieved commercial production at its 100-per-cent-owned Valentine gold mine in Newfoundland & Labrador, Canada.
Over the past 60 days, mine processing has averaged 5,451 tons per day, representing 80 per cent of nameplate capacity, posting an average gold recovery rate of more than 93 per cent on lower-grade commissioning feed of 1.2 grams per ton of gold.
Management expects Q4 production to approach the top end of guidance, ranging between 15,000 and 30,000 ounces of gold, with the mine on track to reach full nameplate capacity of 6,850 tpd by Q2 2026, yielding estimated production of 150,000 to 200,000 ounces through the year.
Concurrently, phase-II studies are underway to potentially increase mill throughput to 5 million tons per year, doubling current nameplate capacity, positioning Equinox for a meaningful increase in revenue and profitability, should the price of gold maintain its recent exponential gains.
Management commentary
“Achieving commercial production at Valentine marks an important milestone as we expand our Canadian operations. The operation is performing well, with plant availability, throughput and recoveries exceeding commissioning period expectations,” Darren Hall, chief executive officer of Equinox Gold, said in Tuesday’s news release. “I’m incredibly proud of the team for responsibly and efficiently ramping up production ahead of schedule.”
About Equinox Gold
Equinox Gold is a gold explorer, developer and producer with a portfolio of high-quality, long-life operations in Canada and the Americas. The company is founded and chaired by respected mining entrepreneur Ross Beaty and guided by a leadership team with robust mining industry expertise.
Equinox Gold stock (TSX:EQX) is up by 1.63 per cent on the news trading at C$17.78 as of 9:40 am ET. The stock has added 132.96 per cent year-over-year but only 34.25 per cent since 2020.
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