Equinox Gold’s Greenstone mine in Ontario. Credit: Equinox Gold
Equinox Gold (TSX, NYSE-A: EQX) surged to its highest in over three years after reporting second-quarter earnings results that beat analyst estimates while offering a positive outlook on the rest of the financial year.
For the three months ended June 30, the Canadian gold miner produced a total of 150,849 oz. across its operations, representing a 23% increase over last year and 4% higher than the previous quarter. This output excludes contributions from the Nicaragua operations and the Pan mine in Nevada that it acquired from Calibre during the quarter.
The strong Q2 results, says Equinox CEO Darren Hall, are led by the Greenstone mine in Ontario, where mining rates increased 23% and processing rates improved 20% over the first quarter.
The higher production, coupled with a higher realized gold price of $3,207/oz., lifted Equinox’s…
