Equinox Gold Full Year Results: Costs Are Simply Too High [Seeking Alpha]
Equinox Gold Corp. Common Shares (EQX)
Company Research
Source: Seeking Alpha
2024 guidance is for company AISC to increase even though Greenstone enters production. Equinox Gold ( NYSE: EQX ) just released their full year 2023 earnings results. The company produced 564koz of gold in 2023, hitting the low end of guidance, which was 555-625koz at an AISC of $1575-$1695. AISC came in at $1622/oz for the year, hitting the mid-point of cost guidance. Net profit was a modest $3.9M for Q4, even with an average realized gold price of $1983 on sales. For the full year, Equinox had a net profit of $28.9M and an adjusted net profit of $21.7M. Equinox ended the year with $192M in cash and net debt of $733M, which I would argue is a rather aggressive balance sheet considering the meagre cash flow from operations. I wrote this article right after the press release but didn't get it published in time for market open, and have since then had the chance to read through the earnings call transcript . In my opinion, nothing substantial was said that wasn't already widely
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EQX
News
- Equinox Gold Completes US$299 Million Bought Deal Financing [Yahoo! Finance]Yahoo! Finance
- Lode Gold (Formerly Stratabound) Engages Former Director as Advisor for Matters Related to the Fremont Project, Located ~500km from Castle Mountain [Yahoo! Finance]Yahoo! Finance
- Canadian Investment Regulatory Organization Trade Resumption - EQXPR Web
- Equinox Gold buys rest of Greenstone gold mine in $995M cash and stock deal [Seeking Alpha]Seeking Alpha
- Canadian Investment Regulatory Organization Trading Halt - EQXPR Web
EQX
Earnings
- 2/21/24 - Beat
EQX
Sec Filings
- 4/26/24 - Form 6-K
- 4/25/24 - Form SUPPL
- 4/25/24 - Form 6-K
- EQX's page on the SEC website