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Mining News February 22, 2024 04:30:12 PM

Equinox Gold Attained 2023 Gold Output Guidance

Paul Ploumis
ScrapMonster Author
The midpoint of this guidance range represents a significant increase of more than 140,000 ounces compared to 2023 gold production.

Equinox Gold Attained 2023 Gold Output Guidance

SEATTLE (Scrap Monster): Equinox Gold released its financial operating results for the fourth quarter and full fiscal year ended 31st December, 2023.

In Q4 2023, the company produced 154,960 ounces of gold. The gold sales totalled 149,861 ounces at an average realized gold price of $1,983 per oz. The all-in sustaining costs (AISC) for the quarter stood at $1,657 per oz. There were three lost-time injuries, with a total recordable injury frequency rate (TRIFR) of 1.35.

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Equinox Gold Provided Fresh Update on Greenstone Project Progress

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The income from mine operations was $38.6 million. The company reported net income and adjusted net income of $3.9 million and $2.4 million respectively.

For the full year 2023, the company achieved its previously stated production guidance, by recording gold production of 564,458 ounces. Equinox Gold sold 559,481 ounces of gold at an average realized gold price of $1,941 per oz. It surpassed cash costs guidance and achieved AISC guidance. The cash cost and AISC stood at $1,350 per oz and $1,612 per oz respectively. The company’s income from mine operations totalled $109 million during the year, said the company press release.

For the current year, the company expects to produce between 660,000 and 750,000 ounces of gold. The midpoint of this guidance range represents a significant increase of more than 140,000 ounces compared to 2023 gold production.

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