Equinox Gold Reports Second Quarter 2019 Financial Results.

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Algemeen advies 02/08/2019 06:18
August 1, 2019 – Vancouver, BC – Equinox Gold Corp. (TSX-V: EQX, OTC: EQXFF) (“Equinox Gold” or the “Company”) is pleased to report its second quarter 2019 summary financial and operating results. The Company will file its unaudited condensed consolidated interim financial statements (“Q2 Financial Statements”) and related management’s discussion and analysis (“Q2 MD&A”) for the three and six months ended June 30, 2019 later today, and will host a conference call and live webcast to discuss the results at 7am PT (10am ET) on August 2, 2019. Dial-in and login details are provided at the end of this news release.
Christian Milau, CEO of Equinox Gold, commented: “Equinox Gold achieved a number of significant milestones in the first half of 2019 and now has two gold mines in production. In the second half of 2019 we expect increased production from both Aurizona and Mesquite and the start of Phase 1 construction at Castle Mountain with the objective of having our third mine in production in 2020.”
Highlights for the three months ended June 30, 2019
Corporate highlights
• Completed $130 million strategic investment by Mubadala Investment Company (“Mubadala”)
• Converted $100 million acquisition facility into senior secured $130 million revolving credit facility 1
• Issued $9.7 million in convertible notes to Pacific Road Resources Funds pursuant to non-dilution right 2
• Issued 11.1 million shares to Sandstorm Gold to partially settle secured convertible debenture
• Sold non-core Elk Gold project for C$10 million
• Cash and cash equivalents (unrestricted) at June 30, 2019 of $33 million
Operational highlights from Mesquite
• No lost-time injuries
• Produced 26,799 ounces (“oz”) of gold
• Cash cost of $794 per oz sold and AISC of $917 per oz sold 3
• Sold 26,856 oz of gold, generating revenue of $35.4 million
• Earnings from mine operations of $9.6 million
Development highlights
• Poured first gold at Aurizona on May 14, 2019
• Produced 7,025 oz of gold at Aurizona during the month of June
• Received Aurizona License to Operate, the final operating permit for Aurizona
• Advanced Castle Mountain permitting and procurement to prepare for Phase 1 construction in H2 2019
Recent developments
• Achieved commercial production at Aurizona effective July 1, 2019

1 $100 million available immediately on closing on April 11, 2019. Remaining $30 million was made available in late June 2019.
2 Issued with the same terms as the convertible notes issued to Mubadala, with a 5-year term, bearing interest at a fixed 5% interest rate, convertible at fixed USD of $1.05 per share.
3 Cash cost per ounce sold and AISC per ounce sold are non-IFRS measures. See Non-IFRS Measures and Cautionary Notes.

2019 outlook
• Production guidance updated to 200,000-235,000 oz of gold at AISC of $940-$990/oz of gold sold (previously 230,000-265,000 oz of gold at AISC of $900-$950/oz) to reflect a longer than expected leach cycle for non-oxide ore and stacking of lower-grade material at Mesquite, and the extension to construction and subsequent modification of the mine plan at Aurizona. Updated guidance is as follows:
- 125,000-145,000 oz of gold from Mesquite at AISC of $930-$980 per oz of gold sold
- 75,000-90,000 oz of gold from Aurizona at AISC of $950-$1,025 per oz of gold sold
• Anticipated total 2019 capital spend of $69 million at Mesquite and Aurizona with $48 million spent through June 30, 2019, including $36 million on initial capital at Aurizona
• Commence Phase 1 Castle Mountain construction; initiate Phase 2 Castle Mountain feasibility study
Mesquite operating results for the three months ended June 30, 2019
Operating data Unit Three months ended June 30, 2019
Ore mined Kt 7,106
Waste mined Kt 9,515
Ratio of waste to ore 1.34
Average gold grade stacked to leach pad g/t 0.31
Gold produced oz 26,799
Gold sold oz 26,856
Unit analysis
Realized gold price $/oz 1,318
Cash cost per ounce sold $/oz 794
All-in sustaining cost per ounce sold $/oz 917
Selected consolidated financial results for the three months ended June 30, 2019 and 2018

Three months ended June 30, 2019 2018
Revenu $ 35.4 $ -
Operating costs (25.8) -
Earnings from mine operations 9.6 -
Exploration (3.2) (2.7)
General and administration (3.7) (3.3)
Income (loss) from operations 2.8 (6.0)
Other income (expenses) (13.5) 5.7
Net loss before taxes (10.7) (0.3)
Tax expense - (1.4)
Net loss from continuing operations (10.7) (1.7)
Net loss and comprehensive loss (10.7) (27.5)
Net loss per share from continuing operations attributable to Equinox Gold shareholders, basic and diluted $ (0.02) $(0.00)
Additional information regarding the Company’s financial results, activities underway at Mesquite, Aurizona and Castle Mountain and the Company’s long-term business strategy will be available in the Company’s Q2 Financial Statements and accompanying Q2 MD&A, which will be available for download later today on the Company’s website at www.equinoxgold.com and on SEDAR at www.sedar.com

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