Equinox Gold Corp
TSX:EQX

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Equinox Gold Corp
TSX:EQX
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Price: 19.38 CAD -4.2%
Market Cap: 8.8B CAD

Equinox Gold Corp
Investor Relations

Equinox Gold Corp., founded in 2007 with its head office in Vancouver, Canada, carved a dynamic foothold in the competitive gold mining industry. With the keen ambition of emerging as a leading mid-tier gold producer, the company set its sights on strategic acquisitions and organic growth. Unlike many newcomers, Equinox gained rapid traction by acquiring established mines and untapped projects across the American continent, notably in Brazil, the United States, and Mexico. Central to its operations are large-scale, open-pit gold mining projects, including the Aurizona mine in Brazil and the Los Filos mine in Mexico, which have become pivotal revenue generators.

The company’s business model is straightforward but demands adroit execution: extract gold at low costs and sell it at market prices. With an emphasis on operational efficiency, Equinox Gold works tirelessly to optimize its mining and processing activities to ensure a steady cash flow. Its approach to sustainability and community engagement reflects an understanding that long-term success lies in fostering trusting relationships with stakeholders. By continuously expanding and optimizing its mines, Equinox capitalizes on rising gold prices, while strategically managing operational risks through skilled workforce deployment and robust market analyses. As a result, Equinox Gold is not just in the business of mining gold, but in the perpetual balancing act of resource management, investor confidence, and market dynamics.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 6, 2025
AI Summary
Q3 2025

Production: Equinox Gold delivered over 236,000 ounces in Q3, with year-to-date production of 634,000 ounces, positioning the company to achieve the midpoint of its annual guidance.

Financial Results: Adjusted net income reached $147 million ($0.19 per share), and adjusted EBITDA was $420 million, supported by strong production and cost performance.

Cost Control: All-in sustaining cost for Q3 was just over $1,800 per ounce, with average cost per ounce sold at $1,434.

Greenstone Progress: Greenstone mine showed meaningful improvement in mining rates, grades, and productivity, and is expected to hit the low end of its production guidance.

Valentine Ramp-Up: Valentine mine ramp-up is ahead of expectations, with mill throughput reaching 91% of nameplate in October and recoveries exceeding 93%. Commercial production is anticipated soon.

Deleveraging: The company retired $139 million in debt during Q3 and plans for substantial further deleveraging by the end of 2026, targeting a much stronger balance sheet.

Portfolio Moves: Nevada asset sale closed for $115 million post-quarter (including $88 million cash), with ongoing portfolio optimization and openness to further asset sales if value-accretive.

Key Financials
Gold Production
236,000 ounces
Year-to-Date Gold Production
634,000 ounces
Gold Sold
239,000 ounces
Average Cost per Ounce Sold
$1,434
All-in Sustaining Cost
$1,800 per ounce
Adjusted Net Income
$147 million
Adjusted EPS
$0.19 per share
Adjusted EBITDA
$420 million
Cash Balance (quarter end)
$348 million
Debt Retired (Q3)
$139 million
Additional Debt Retired (October)
$25 million
Greenstone Mining Rate (Q3)
185,000 tonnes per day
Greenstone Process Grade (Q3)
1.05 grams per tonne
Greenstone Mining Rate (October)
205,000 tonnes per day
Greenstone Mill Grade (October)
1.34 grams per tonne
Valentine Throughput (first 66 days)
5,000 tonnes per day (73% of nameplate)
Valentine Throughput (October)
6,200 tonnes per day (91% of nameplate)
Valentine Recovery (October)
over 93%
Valentine Q4 Production Range
15,000 to 30,000 ounces
Valentine 2026 Production
150,000 to 200,000 ounces
Stockpile in front of Greenstone plant
over 8 million tonnes
Nevada Asset Sale Proceeds
$115 million (including $88 million cash)
Other Earnings Calls

Management

Mr. Gregory D. Smith C.A.
CEO, President & Director
No Bio Available
Mr. Peter Jeremie Hardie C.A., CPA
Chief Financial Officer
No Bio Available
Mr. Douglas Reddy P.Geo.
Chief Operating Officer
No Bio Available
Ms. Susan Toews
General Counsel & Corporate Secretary
No Bio Available
Mr. Robert Scott Heffernan M.Sc., P.Geo.
Executive Vice President of Exploration
No Bio Available
Mr. Kelly Boychuk MBA, P.Eng.
Senior Vice President of Technical Services
No Bio Available
Ms. Rhylin Pauline Arkinstall Bailie
Vice President of Investor Relations
No Bio Available
Ms. Gordana Vicentijevic
Senior Vice President of Project Development
No Bio Available
Mr. Sebastian D'Amici
Senior Vice President of Finance & Treasury
No Bio Available

Contacts

Address
BRITISH COLUMBIA
Vancouver
Suite 1501, 700 West Pender St.
Contacts
+16045580560.0
www.equinoxgold.com