Equinox Gold Provides 2021 Guidance and Outlines Ambitious Growth and Investment Plans
All dollar amounts are expressed in US$
February 9, 2021 – Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox Gold” or the “Company”) today announces 2021 production guidance of 600,000 to 665,000 ounces of gold, a 33% increase over 2020 production of 477,200 ounces of gold. Cost guidance includes cash costs1 of $940 to $1,000 per ounce of gold sold and all-in-sustaining costs1 (“AISC”) of $1,190 to $1,275 per ounce of gold sold. The Company is hosting a virtual investor reception and corporate update today commencing at 7:00 am PT (10:00 am ET). Further details are provided at the end of this news release.
“2021 represents a year of investment for Equinox Gold as we direct our strong operating cash flow to our existing portfolio of mines and growth projects,” said Christian Milau, CEO of Equinox Gold. “These investments in 2021 will set the foundation for lower-cost production, longer-life mines and substantial near-term production growth with an increase to approximately 900,000 ounces of gold at significantly lower costs in 2022 and approximately one million ounces of gold from 2023.
“All-in-sustaining costs in 2021 include stripping campaigns at Los Filos, Mesquite and Aurizona to access higher-grade ore, which will increase production and reduce costs in the second half of the year. Growth capital includes the Los Filos expansion projects, a significant pit expansion at RDM and completion of construction at Santa Luz. The Company is also undertaking an aggressive exploration program focused on mine life extension and reserve replacement.
“We also look forward to completing the acquisition of Premier Gold Mines this quarter and integrating the producing Mercedes Mine and construction-ready, multi-million-ounce Hardrock project into our portfolio and plans. Our share of production from Hardrock would further reduce our costs per ounce produced and boost production by more than 200,000 ounces annually starting in 2024.”
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