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Equinox Gold Corp
TSX:EQX

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Equinox Gold Corp
TSX:EQX
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Price: 17.3 CAD -0.52%
Market Cap: CA$7.9B

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
Q4 2025
Call Date
Feb 19, 2026
AI Summary
Q4 2025

Record Production: Equinox Gold delivered a record 922,000 ounces in 2025, with Q4 production of 247,000 ounces, reflecting strong operational performance and successful ramp-up at Greenstone and Valentine.

Balance Sheet Transformation: Net debt was reduced from $1.4 billion in June to $75 million at January’s end, supported by asset sales including the divestment of Brazilian operations and robust cash flow.

Capital Returns Initiated: The company announced its first quarterly cash dividend of $0.015 per share and a share buyback program for up to 5% of shares, signaling financial strength and a new capital return strategy.

2026 Guidance: Greenstone is expected to produce 250,000–300,000 ounces at all-in sustaining costs of $1,750–$1,850/oz; Valentine is guided for 150,000–200,000 ounces, with H2 weighted production.

Development Pipeline: Feasibility study for Valentine Phase 2 will complete in the next few months, with expansion and growth initiatives also progressing at Castle Mountain and Los Filos.

Portfolio Simplification: The sale of Brazilian assets accelerated deleveraging and simplified the company’s portfolio; management expressed confidence that all legal obligations related to the sale were met.

Cost Commentary: Higher costs in Nicaragua are volume-driven due to mine development, not inflation, with expectations for lower costs as strip ratios decline over time.

Key Financials
Gold Production (2025)
922,000 ounces
Gold Production (Q4 2025)
247,000 ounces
Gold Sold (Q4 2025)
242,000 ounces
Realized Gold Price (Q4 2025)
$4,060 per ounce
Adjusted EBITDA (Q4 2025)
$579 million
Adjusted Net Income (Q4 2025)
$272 million
EPS (Q4 2025)
$0.35 per share
Cash Balance (End of 2025)
Over $400 million
Net Debt (End of January 2026)
$75 million
Dividend per Share
$0.015 per quarter
Share Buyback
Up to 5% of issued and outstanding shares
Greenstone Gold Production (Q4)
Over 72,000 ounces
Greenstone All-in Sustaining Costs (2026 Guidance)
$1,750–$1,850 per ounce
Valentine Gold Production (Q4)
Over 23,000 ounces
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
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