Equinox Gold produced 88,951 toz gold in Q1 and the growth is poised to continue also over the coming quarters.
The AISC increased to $968/toz.
The merger with Leagold was successfully completed.
After completing the recent financing, Equinox's growth projects are fully funded.
The Los Filos mine has been closed since April 1, due to the coronavirus.
Equinox Gold's (EQX) Q1 2020 results didn't disappoint. The gold production grew once again and much more is to come. After the successful merger with Leagold, Equinox turned into a quite new company, with higher production volumes, stronger market position, and great growth prospects, as over the next 2-3 years, the production should exceed 1 million toz gold per year.
In Q1 2020, Equinox produced 88,951 toz gold. Compared to Q4 2019, the production increased by 11% and compared to Q1 2019 even by more than 250%. However, the Leagold merger was completed only on March 10, which means that its impact on the Q1 results was significantly limited. Although a new quarterly production record was reached in Q1, further records are to come in the near future. In Q2, the impacts of the Leagold merger will be felt much more, leading to a higher production volume. But given the fact that the Los Filos mine has been suspended since early April, and it will probably restart only in early June, its full impact will be felt only in Q3, leading to another new gold production record high. |