Equinox Gold Forecasts Substantial Surge in H2 2024 Gold Output

However, the impact to production due to this was offset by accelerated mining in the new Tatajuba open pit.

SEATTLE (Scrap Monster): Vancouver, B.C.-based Equinox Gold Corp. reported second quarter 2024 financial and operating results. Despite challenges faced in Q2, the company remained optimistic about substantially higher gold production during the second half of the current year.

ALSO READ: Equinox Gold Attained 2023 Gold Output Guidance

During the three months ended June 30, 2024, the company produced 122,221 ounces of gold. The gold sales stood at 115,423 ounces at an average realized gold price of $2,328 per ounce. Equinox Gold reported total cash costs of $1,747 per ounce and AISC of $2,041 per ounce during the quarter. The company’s income from mine operations totalled $26.6 million during the quarter, said the company press release.

A geotechnical event following heavy rains led to temporary suspension of mining in the Piaba open pit at Aurizona. However, the impact to production due to this was offset by accelerated mining in the new Tatajuba open pit.

The company estimated annual production to total between 655,000 and 750,000 ounces of gold, with cash costs of $1,305 to $1,405 per ounce and AISC of $1,635 to $1,735 per ounce sold.

The highlight of the second quarter was the achievement of first gold pour at its new Greenstone Mine in Ontario, in which it now holds 100% stake, said Greg Smith, President and CEO, Equinox Gold. The company remains on schedule to achieve commercial production at Greenstone during Q3 this year, he added.

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