Equinox Gold stock takes hit on lowered production guidance for Greenstone mine

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However, the gold miner also noted that the recovery in August was impacted by operational adjustments to the leach circuit and a temporary suspension of the gravity circuit to address certain issues identified during commissioning. These issues have been largely resolved and recovery has increased through September and into October, it said.

Plant throughput in September also suffered a significant drop due to multi-day shutdowns of the crushing and grinding circuits to fix certain wear and other issues identified during the ramp-up process.

As a result, the throughput averaged only 14,300 tonnes per day (t/d) during Q3, which is just over half of the plant’s 27,000 t/d capacity. The company had previously been targeting 90% of this capacity by the end of 2024.

Given the above-mentioned issues and the mine’s production to date, Equinox has now adjusted Greenstone’s 2024 gold production guidance from 175,000-205,000 oz. to…

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