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Equinox Gold sees growth inflection as Calibre deal, mine startups boost output

14th August 2025

By: Creamer Media Reporter

     

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Toronto-listed Equinox Gold said on Wednesday that its second-quarter results have put it on track for a stronger second half, with production set to accelerate as its Calibre acquisition contributes for a full quarter, the Valentine gold mine comes on line, and the Greenstone mine ramps up.

“Equinox Gold is entering a pivotal growth phase,” CEO Darren Hall said in a statement accompanying the miner's June-quarter results

“Q2 delivered solid results, led by Greenstone, where mining rates increased 23% and processing rates improved 20% over Q1.” He added that higher mining volumes and improved throughput early in the third quarter “set the stage for our true inflection point", alongside the Calibre integration and first ore from Valentine.

If the Calibre deal, closed June 17, had been effective from January 1, pro-forma first-half revenue would have been about $1.33-billion, compared with $902.4-million actual, the company said.

Second-quarter production rose to 219 122 oz, up from 145 290 oz in the first quarter, with all-in sustaining costs averaging $1 959/oz. Adjusted earnings before interest, taxes, depreciation and amortisation climbed to $200.5-million from $137.9-million in the first quarter, while net income was $23.8-million, or 5c a share.

Cash stood at $406.7-million at quarter-end, with net debt of $1.37-billion. The company agreed to sell noncore Nevada assets for $115-million and ratified new long-term land access agreements at its Los Filos mine in Mexico.

Hall reiterated full-year guidance of 785 000 oz to 915 000 oz and said Equinox expected “continued growth in both production and cash flow into 2026".

Edited by Creamer Media Reporter

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