Equinox Gold produced approximately 26,000 ounces of gold in 2018 and expects to produce 230,000 to 265,000 ounces of gold in 2019.
Equinox Gold Corp. (TSXV: EQX,OTC: EQXFF) announced its 2018 highlights and 2019 guidance. Equinox Gold produced approximately 26,000 ounces of gold in 2018 from its recently acquired Mesquite Mine in California, and expects to produce 230,000 to 265,000 ounces of gold in 2019 from Mesquite and its Aurizona Mine in Brazil at all-in-sustaining costs (AISC) of US$900 ounces to US$950 ounces.
Highlights are as follows:
- Acquired Mesquite Gold Mine and produced approximately 26,000 ounces of gold from October 30 to December 31, 2018 (full-year 2018 production of approximately 140,000 ounces)
- Advanced Aurizona construction for commercial production around the end of Q1-2019
- Completed Castle Mountain prefeasibility study outlining a long-life, low-cost gold mine producing 200,000 ounces a year
- 480 percent increase in proven and probable reserves to 5.7 million ounces of gold
- 350 percent increase in measured and indicated resources to 8.3 million ounces of gold (inclusive of reserves)
- New gold discoveries at Aurizona and Castle Mountain
- Completed spin-out of Solaris Copper to Equinox Gold shareholders and sale of the Koricancha Mill
- Cash balance (unrestricted) at December 31, 2018 of approximately US$60-million (unaudited) with an additional US$10-million available to draw under the Aurizona construction facility
Christian Milau, CEO, commented:
Equinox Gold has achieved tremendous growth over the last year and will soon become a multi-mine gold producer. This momentum will continue in 2019 as we plan for construction at our Castle Mountain Mine, capitalize on growth opportunities at our existing assets and continue to assess accretive acquisition opportunities.