Production and Sales Performance - Equinox Gold achieved a record annual production of 621,893 ounces of gold in 2024, with 623,579 ounces sold at an average realized price of $2,423 per ounce[4][11]. - For Q4 2024, the company produced 213,964 ounces of gold and sold 217,678 ounces at an average realized price of $2,636 per ounce[7][18]. - Gold production for 2024 was 621,893 ounces, with guidance for 2025 set between 635,000 and 750,000 ounces[22][23]. - Gold ounces sold in Q4 2024 reached 217,678, a 25.1% increase from 173,973 ounces sold in Q4 2023[79]. - Adjusted gold ounces sold for the year ended December 31, 2024, totaled 549,032, slightly down from 559,481 ounces in 2023[79]. - Gold ounces sold for the year ended December 31, 2024, totaled 623,579 ounces, an increase from 559,481 ounces in 2023[90]. Financial Performance - Total revenue for 2024 was $1,514.1 million, with net income of $339.3 million or $0.85 per share[11][18]. - Adjusted EBITDA for 2024 was $458.2 million, reflecting strong operational performance[11][18]. - Total revenue for 2024 reached $1,514,120, an increase of 39.2% compared to $1,088,191 in 2023[72]. - Net income for 2024 was $339,287, significantly up from $28,884 in 2023, representing an increase of 1,075.5%[72]. - Operating cash flow before changes in non-cash working capital was $430,198 in 2024, compared to $527,450 in 2023[74]. - AISC contribution margin for the year ended December 31, 2024, was $300.7 million, compared to $184.2 million in 2023, reflecting a 63.1% increase[90]. - Adjusted net income for the three months ended December 31, 2024, was $77.5 million, compared to $37.4 million in the previous quarter, marking a 106.5% increase[95]. Cost Management - Cash costs for 2024 were $1,598 per ounce, with all-in sustaining costs (AISC) of $1,870 per ounce[11][18]. - Cash costs for 2024 were $1,598 per ounce, with 2025 guidance estimated between $1,075 and $1,175 per ounce[22][23]. - All-in sustaining costs (AISC) for 2024 were $1,870 per ounce, with 2025 guidance ranging from $1,455 to $1,550 per ounce[22][23]. - Cash costs per gold ounce sold decreased to $1,458 in Q4 2024 from $1,720 in Q3 2024, a reduction of 15.3%[79]. - AISC per ounce sold for the year ended December 31, 2024, was $1,870, compared to $1,612 in 2023, indicating a 15.9% increase[79]. Future Guidance and Expectations - The company expects to produce between 635,000 to 750,000 ounces of gold in 2025, with cash costs projected at $1,075 to $1,175 per ounce and AISC at $1,455 to $1,550 per ounce[5][11]. - Greenstone's production guidance for 2025 is set at 300,000 to 350,000 ounces, with cash costs of $790 to $890 per ounce and AISC of $1,045 to $1,145 per ounce[40]. - The Bahia Complex production guidance for 2025 is set at 125,000 to 145,000 ounces of gold, with cash costs projected between $1,360 and $1,460 per ounce[58]. - Mesquite's production guidance for 2025 is set at 90,000 to 105,000 ounces of gold, with cash costs expected between $1,235 and $1,335 per ounce[45]. - Aurizona's production guidance for 2025 is 70,000 to 90,000 ounces of gold, with cash costs projected at $1,205 to $1,305 per ounce[54]. - RDM's production guidance for 2025 is 50,000 to 60,000 ounces of gold, with cash costs expected to range from $1,615 to $1,715 per ounce[69]. Operational Developments - Equinox Gold consolidated 100% ownership of the Greenstone Mine, producing over 111,700 ounces of gold in its first partial year of operations[4][11]. - The company is advancing the Castle Mountain expansion and consolidating its Fazenda and Santa Luz mines into the Bahia Complex[6][11]. - The company achieved commercial production at Greenstone on November 6, 2024, which is expected to positively impact future production and revenue[80]. - The company plans to use increased cash flow from operations to target approximately $200 million in debt repayment in the second half of 2025[34]. - The company is focused on expanding operations at Castle Mountain and Aurizona, with ongoing negotiations for new long-term agreements at Los Filos[99]. Community and Environmental Relations - New long-term agreements with local communities at the Los Filos Mine are critical for continued operations, with two communities ratifying agreements while one remains outstanding[5][11]. - Operations at Los Filos in 2025 depend on the successful completion of long-term agreements with local communities, with one agreement still outstanding[24]. - The Company is focused on maintaining relationships with local communities and Indigenous populations to mitigate risks related to production and cost estimates[103]. - The Company is committed to achieving environmental performance objectives and complying with health and safety regulations[101]. Financial Position - The company maintained cash and cash equivalents of $239.3 million and net debt of $1,108.5 million as of December 31, 2024[11][18]. - Cash and cash equivalents increased to $239,329 in 2024 from $191,995 in 2023, a growth of 24.6%[74]. - Total assets rose to $6,713,595 in 2024, up 54.1% from $4,350,377 in 2023[71]. - Total liabilities increased to $3,316,043 in 2024, a rise of 73.8% compared to $1,907,916 in 2023[71]. - Net debt as of December 31, 2024, was $1,108.5 million, an increase from $733.0 million in 2023[97]. Strategic Vision and Risks - The Company emphasizes that Forward-looking Information is based on current expectations and projections regarding exploration, production, and cost management[101]. - The Company has outlined potential risks including fluctuations in gold prices and operational hazards inherent in mining, which may impact actual results[103]. - The Company cautions that assumptions made regarding macroeconomic factors and energy prices may prove incorrect, impacting future performance[102]. - The Company has established a framework for disclosing mineral reserves and resources in accordance with NI 43-101 standards, which differ from SEC requirements[106]. - The Company has qualified personnel overseeing technical content, ensuring adherence to industry standards in reporting[107].

Core Insights - The article discusses the recent trends in the commodities market, particularly focusing on gold prices and their fluctuations due to various economic factors [1] Group 1: Market Trends - Gold prices have seen significant volatility, influenced by changes in interest rates and inflation expectations [1] - Recent data indicates that gold prices have increased by 5% over the last month, reflecting a shift in investor sentiment towards safe-haven assets [1] Group 2: Economic Factors - The article highlights that rising inflation rates have prompted investors to seek refuge in gold, traditionally viewed as a hedge against inflation [1] - Central bank policies, particularly those of the Federal Reserve, are impacting gold prices as market participants adjust their expectations regarding future interest rate hikes [1]

Core Viewpoint - Equinox Gold Corp and Calibre Mining Corp have entered into a definitive arrangement agreement to combine their operations, creating a major Americas-focused gold producer, New Equinox Gold, which will become the second largest gold producer in Canada [1][2][10]. Company Overview - New Equinox Gold will have a diversified portfolio of operating mines across five countries, anchored by two key Canadian gold mines: Greenstone and Valentine [2][10]. - The Greenstone Mine achieved commercial production in November 2024, while the Valentine Gold Mine is nearing completion with first gold pour expected in mid-2025 [2][10]. Production and Financials - The combined company is projected to produce approximately 950,000 ounces of gold in 2025, with the potential to exceed 1.2 million ounces annually when both Greenstone and Valentine are operating at full capacity [3][10]. - The implied market capitalization of New Equinox Gold is estimated at C$7.7 billion [4]. Shareholder Benefits - Calibre shareholders will receive 0.31 Equinox common shares for each Calibre share held, resulting in approximately 65% ownership for existing Equinox shareholders and 35% for former Calibre shareholders in the combined entity [4][13]. - The merger is expected to unlock benefits for shareholders that would not be available if the companies remained standalone, including enhanced scale and operational expertise [8][11]. Leadership and Governance - The management team will include executives from both companies, with Greg Smith remaining as CEO and Darren Hall joining as President and COO of New Equinox Gold [8][9]. - The Board of Directors will consist of ten members, including Ross Beaty as Chair and representatives from both Equinox and Calibre [9][10]. Strategic Rationale - The merger aims to create a leading gold producer with improved scale, resilience, and the ability to generate significant long-term value for shareholders [7][10]. - The combination of two long-life, low-cost mines is expected to provide a solid foundation for future growth and operational excellence [12][10]. Regulatory and Approval Process - The transaction requires approval from Calibre shareholders and regulatory bodies, with a special meeting expected before May 31, 2025 [14][15]. - The transaction is also subject to customary deal protections and termination fees [17]. Financing and Capital Structure - Concurrently with the arrangement, Calibre will issue approximately US$75 million in convertible notes to fund transaction-related expenses and general corporate purposes [21][22]. - The convertible notes will have a 5.5% annual interest rate and a five-year maturity, convertible into Calibre common shares at a premium [21].

Creating the Premier Americas Gold Producer Q4 2024 RESULTS & CORPORATE UPDATE FEBRUARY 20, 2025 Cautionary Notes Forward-looking Statements. This presentation contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information or financial outlook information (collectively "Forward-looking Information"). Actual results of operations and the ensuing financial results may vary materially from ...

Financial Data and Key Metrics Changes - Equinox Gold Corp. reported record quarterly gold production of approximately 214,000 ounces and sales of approximately 218,000 ounces in Q4 2024, marking the highest quarterly production in the company's history [7] - The cash cost per ounce sold in Q4 was $1,458, the lowest quarterly cash cost of the year, with an all-in sustaining cost of $1,652 [8][23] - For the full year 2024, the company achieved record annual gold production of approximately 622,000 ounces and sales of 623,000 ounces, with cash costs of $1,598 per ounce and all-in sustaining costs of $1,870 per ounce [8][22] Business Line Data and Key Metrics Changes - Greenstone mine produced 53,022 ounces in Q4 with an all-in sustaining cost of $1,141 per ounce, achieving commercial production in November [30] - Los Filos mine had its highest quarterly production of 60,521 ounces in Q4, with an all-in sustaining cost of $2,051 per ounce [39] - Fazenda mine produced 18,522 ounces in Q4 at an all-in sustaining cost of $1,251 per ounce, with plans to develop a larger open pit in 2025 [43] Market Data and Key Metrics Changes - The company realized a price of $2,636 per ounce for the 218,000 ounces of gold sold in Q4, leading to revenues of $575 million [21] - The increase in revenues was driven by higher realized prices and an increase in ounces sold, primarily due to Greenstone coming online [22] Company Strategy and Development Direction - The major focus for 2024 was commissioning the Greenstone mine and ramping up production, with plans to increase production in 2025 to between 635,000 ounces and 750,000 ounces [14] - The company is advancing plans for an underground mine at the Piaba deposit and a planned expansion at Castle Mountain to increase production to 200,000 ounces per year [13][14] - The company aims to deleverage its balance sheet in 2025, targeting to repay about $200 million in debt, depending on gold prices [26][27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the impact of strong gold prices on financial performance, indicating that 2025 will be a great year for the company [51] - The company acknowledged the need for new long-term agreements with local communities at Los Filos to ensure the mine's economic viability [15][16] - Management highlighted the importance of reducing debt while investing in the portfolio of mines for long-term growth [26][51] Other Important Information - The company had a total recordable injury frequency rate of 2.21% in 2024, beating its safety target [9] - The company improved its S&P Global Corporate Sustainability Assessment score by over 13% compared to the prior year [10] - The company ended the quarter with $239 million of unrestricted cash and $105 million available to draw on the revolving credit facility [28] Q&A Session Summary Question: What will the company do with the extra free cash flow if gold prices remain high? - Management indicated that excess cash generated will be used to strengthen the balance sheet and focus on deleveraging [58] Question: What are the expected grades, tons, and recoveries for Greenstone in 2025? - Management expects grades to ramp up from around 1 gram in Q1 to about 1.6% to 1.7% by the end of the year [62] Question: Can you clarify the difference between ASIC and total cash cost guidance? - Management acknowledged the discrepancy and agreed to follow up with more detailed information [66][68] Question: What are the standby costs for Los Filos during suspension? - Management indicated that standby charges during previous care and maintenance were about $3 to $4 million per month, but would be significantly lower during an indefinite suspension [81] Question: What is the status of agreements with local communities at Los Filos? - Management confirmed that agreements have been reached with three communities, but only two have signed, necessitating a final agreement with all three to proceed [134]

Core Insights - Equinox Gold reported record financial results for 2024, with 623,579 ounces of gold sold, generating revenue of $1.5 billion and operating cash flow of $430 million [1][2][12] Operational Highlights - The company achieved an annual production record of 621,893 ounces of gold, with the fourth quarter being the strongest production quarter [2][10] - The new Greenstone Mine contributed significantly, producing over 111,700 ounces of gold in its first partial year of operations [2][19] - For the fourth quarter, the company produced 213,964 ounces of gold and sold 217,678 ounces at an average realized price of $2,636 per ounce [5][20] Financial Performance - The company reported net income of $339.3 million or $0.85 per share for the year, with adjusted net income of $96.7 million or $0.24 per share [13][20] - Cash costs for the year were $1,598 per ounce, with all-in sustaining costs (AISC) at $1,870 per ounce [20][24] - The company generated cash flow from operations of $430.2 million before changes in non-cash working capital [12][17] 2025 Guidance - Equinox Gold expects to produce between 635,000 to 750,000 ounces of gold in 2025, with cash costs estimated at $1,075 to $1,175 per ounce and AISC of $1,455 to $1,550 per ounce [3][27] - The company plans to use increased cash flow to reduce corporate debt, targeting approximately $200 million in debt repayment [37][38] Recent Developments - The company is advancing permitting for the Castle Mountain expansion and consolidating its Fazenda and Santa Luz mines into a combined unit called the Bahia Complex [4][39] - New long-term agreements with local communities at the Los Filos Mine are crucial for continued operations, with two communities ratifying agreements while one remains outstanding [28][50]

ShareDisclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpab ...

Equinox Gold to Announce 2024 Financial and Operating Results and 2025 Guidance on February 19, 2025February 05, 2025 12:30 PM EST | Source: Equinox Gold Corp.Vancouver, British Columbia--(Newsfile Corp. - February 5, 2025) - Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) will announce its financial and operating results for the fourth quarter and fiscal year ended December 31, 2024, along with its 2025 production and cost guidance, on Wednesday, February 19, 2025, after market close. Equi ...

Core Insights - Equinox Gold Corp. has filed a National Instrument 43-101 Technical Report regarding the updated Mineral Reserve and Mineral Resource estimate for its Fazenda Mine in Brazil [1] - The results of the updated estimates were previously announced on January 7, 2025 [1] Company Information - The technical report is accessible for download on Equinox Gold's official website and through its profiles on SEDAR+ and EDGAR [2]

Core Insights - Equinox Gold Corp. achieved record gold production of 213,960 ounces in Q4 2024, contributing to an annual total of 621,870 ounces, within the guidance range of 590,000-675,000 ounces [1][2] Financial Position - At the end of 2024, Equinox Gold had approximately $240 million in cash and equivalents, with an additional $105 million available from its revolving credit facility and a $100 million undrawn accordion feature [2] - The company reduced its debt by $180 million through a $40 million payment to Orion Mine Finance and the conversion of $140 million in convertible notes into equity [3] Operational Updates - Equinox Gold acquired full ownership of the Greenstone mine in 2024, achieving commercial production and producing around 111,700 ounces of gold in its first partial year of operations [4] Stock Performance - Over the past year, Equinox Gold's shares increased by 26.9%, outperforming the industry growth of 24.3% [5]