It stated this week full-year manufacturing got here in at 477,200oz, larger than the full-year 425,000-465,000oz steering, with 2020 all-in sustaining prices anticipated to vary between US$975-1,025/oz.
Equinox initiated a staged restart in December of the Los Filos mine in Mexico. It produced 13,700oz gold from the operation within the December quarter after withdrawing steering in November due to a group blockade.
The corporate’s portfolio-wide manufacturing got here in at 136,400oz, together with output from Los Filos and gold poured through the commissioning and ramp-up at Fortress Mountain, in California, USA.
Equinox has moved from a non-producer in mid-2018 to an organization with eight working gold mines and a pipeline of progress tasks.
The corporate, which introduced the acquisition of Premier Gold Mines and its Hardrock gold challenge in Ontario in December, goals to be a 1Moz producer by the top of 2023.
“Nonetheless, regardless of the corporate’s progress, Equinox continues to commerce at a reduction to its friends, which we consider ought to shut over time however at the moment presents a shopping for alternative for traders,” stated Haywood Securities analyst Kerry Smith.
Haywood maintains a ‘purchase’ ranking on Equinox with a worth goal of C$24.50.
Its shares (TSX:EQX) final traded at $13.56, capitalizing it at $3.3 billion (US$2.6 billion).