Equinox Gold Reports Record Production with 210,400 Ounces of Gold Produced in Fourth Quarter, Achieves Guidance with 602,100 Ounces of Gold Produced in 2021
January 13, 2022
https://www.equinoxgold.com/ne…-of-gold-produced-in-2021
2021 Highlights
- Achieved guidance (560,000 to 625,000 oz) with total production of 602,100 oz of gold
- Cash costs and all-in-sustaining costs1 are expected to be within guidance of $1,025 to $1,075 per oz and $1,300 to $1,375 per oz sold, respectively
- Achieved 17% and 60% better safety and environmental performance compared to 2020, respectively, released an inaugural ESG report, continued quarterly online reporting of safety and environmental data
- Continued proactive COVID-19 health and safety protocols with no production days lost due to COVID-19
- Completed acquisition of Premier Gold, increasing diversification and scale with the multi-million-ounce, low-cost, long-life Greenstone project in Canada
- Increased Greenstone ownership interest to 60% of what will become a cornerstone asset for the Company
- Commenced Greenstone construction with first gold pour targeted for H1 2024
- Advanced Santa Luz construction with first gold pour targeted for late Q1 2022
- Increased Aurizona Mineral Reserves by 73% and completed a positive pre-feasibility study for the addition of an underground mine to the existing open-pit operation, extending the Aurizona mine life to 11 years and increasing annual production
- Increased Castle Mountain Mineral Reserves by 17% and completed a positive feasibility study for the Phase 2 expansion, extending the Castle Mountain mine life to 21 years with production increasing to more than 200,000 oz annually during Phase 2
- Advanced Los Filos expansion projects: commenced mining the new Guadalupe open-pit and Bermejal underground deposits
- Strengthened balance sheet by selling a portion of the Company’s shares in Solaris Resources (TSX: SLS) for gross proceeds of C$82.5 million with potential for an additional C$50 million in Q1 2022
- Strengthened balance sheet and investment portfolio by selling the Pilar Mine for $38 million, a 1% net smelter return royalty and 11.6 million shares of Pilar Gold Inc.
- Invested C$51 million in i-80 Gold (TSX: IAU) to maintain an approximate 25% interest on a fully diluted basis
- Announced agreement to sell the Mercedes Mine for $100 million, a 2% net smelter return and 24.73 million common shares of Bear Creek Mining Corporation (TSX-V: BCM)2
- Current market value of Equinox Gold’s investment portfolio, not including shares in Bear Creek Mining that will be issued upon completion of the Mercedes sale, is approximately $450 million
- Cash balance (unrestricted) at December 31, 2021 of approximately $310 million (unaudited) with an additional $200 million available to draw under the revolving credit facility