Mexican Los Filos Mine to Boost Equinox Gold's Output in 2021

SEATTLE (Scrap Monster): Vancouver, B.C.-based Equinox Gold announced 2021 guidance and outlook. The company declared ambitious growth and investment plans for the current year.

The company announced production guidance of 600,000 to 665,000 ounces of gold, significantly higher when compared with the 2020 production of 477,200 ounces of gold. It also guided for cash costs of $940 to $1,000 per ounce of gold sold and all-in-sustaining costs (“AISC”) of $1,190 to $1,275 per ounce of gold sold. Throughout the year, gold production is expected to trend upward quarter-on-quarter, the press release said.

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The key contributor to the projection production jump this year is the Los Filos operation in Mexico, which is expected to produce 170,000 to 190,000 gold oz. The company foresees an output of 130,000 to 140,000 oz from the Mesquite open pit in California. Also, the Aurizona pit in Brazil is expected to produce 120,000 to 130,000 oz of gold.

Christian Milau, CEO of Equinox Gold noted that it looks forward to completing the acquisition of Premier Gold Mines this quarter. Also, it plans to integrate the producing Mercedes Mine and construction-ready, multi-million-ounce Hardrock project into its portfolio. The production from Hardrock is expected to reduce its cost and boost the production by over 200,000 ounces from 2024 onwards.