Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) has provided an operations update on its new Greenstone Gold Mine in Ontario, Canada. Key highlights include:
– Q3 gold production of approximately 42,500 ounces, a 162% increase from Q2
– Total production of 59,000 ounces since first gold pour on May 22, 2024
– 2024 production guidance adjusted to 110,000-130,000 ounces of gold
– Mining rates increased from 76,000 tpd in July to 145,000 tpd in October
– Plant throughput averaged 14,300 tpd during Q3, with capacity to operate at 27,000 tpd
– Processed grade averaged 1.15 g/t gold with average recovery of approximately 80%
The company is focusing on systematically ramping up both mining rates and plant throughput during Q4 as the mine progresses toward design capacity. An updated technical report for Greenstone was published on October 1, 2024.
Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ha fornito un aggiornamento sulle operazioni della sua nuova Greenstone Gold Mine in Ontario, Canada. I principali punti salienti includono:
– Produzione d’oro nel terzo trimestre di circa 42.500 once, un aumento del 162% rispetto al secondo trimestre
– Produzione totale di 59.000 once dalla prima fusion di oro del 22 maggio 2024
– Previsioni di produzione per il 2024 riviste a 110.000-130.000 once d’oro
– Tassi di estrazione aumentati da 76.000 tpd a luglio a 145.000 tpd a ottobre
– Il throughput dell’impianto ha avuto una media di 14.300 tpd durante il terzo trimestre, con capacità di operare a 27.000 tpd
– Grado medio lavorato dell’1,15 g/t d’oro con un recupero medio di circa l’80%
La società si sta concentrando sull’aumento sistematico sia dei tassi di estrazione che del throughput dell’impianto durante il quarto trimestre, mentre la miniera progredisce verso la capacità di progetto. Un rapporto tecnico aggiornato per Greenstone è stato pubblicato il 1° ottobre 2024.
Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ha proporcionado una actualización sobre las operaciones de su nueva Greenstone Gold Mine en Ontario, Canadá. Los aspectos más destacados incluyen:
– Producción de oro en el tercer trimestre de aproximadamente 42,500 onzas, un aumento del 162% en comparación con el segundo trimestre
– Producción total de 59,000 onzas desde la primera fusión de oro el 22 de mayo de 2024
– Guía de producción para 2024 ajustada a 110,000-130,000 onzas de oro
– Las tasas de minería aumentaron de 76,000 tpd en julio a 145,000 tpd en octubre
– El rendimiento de la planta promedió 14,300 tpd durante el tercer trimestre, con capacidad para operar a 27,000 tpd
– La ley procesada promedió 1.15 g/t de oro con un promedio de recuperación de aproximadamente el 80%
La empresa se está enfocando en aumentar sistemáticamente tanto las tasas de minería como el rendimiento de la planta durante el cuarto trimestre, a medida que la mina avanza hacia su capacidad de diseño. Un informe técnico actualizado para Greenstone fue publicado el 1 de octubre de 2024.
Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX)는 캐나다 온타리오에 있는 새로운 Greenstone Gold Mine에 대한 운영 업데이트를 제공했습니다. 주요 하이라이트는 다음과 같습니다:
– 3분기 금 생산량 약 42,500온스, 2분기 대비 162% 증가
– 2024년 5월 22일 첫 금 생산 이후 총 생산량 59,000온스
– 2024 생산 가이던스 110,000-130,000온스의 금으로 조정
– 채굴 속도가 7월의 76,000 tpd에서 10월의 145,000 tpd로 증가
– 3분기 동안 공장 처리량은 평균 14,300 tpd였으며 27,000 tpd로 운영할 수 있는 능력 보유
– 처리된 평균 품위는 1.15 g/t 금이며 평균 회수율은 약 80%
회사는 광산이 설계 용량으로 진행됨에 따라 4분기 동안 채굴 속도와 공장 처리량을 체계적으로 늘리는 데 집중하고 있습니다. Greenstone에 대한 업데이트된 기술 보고서는 2024년 10월 1일에 발표되었습니다.
Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) a fourni une mise à jour sur ses opérations de la nouvelle Greenstone Gold Mine en Ontario, Canada. Les principaux points saillants comprennent :
– Production d’or au troisième trimestre d’environ 42 500 onces, une augmentation de 162 % par rapport au deuxième trimestre
– Production totale de 59 000 onces depuis la première fusion d’or le 22 mai 2024
– Prévisions de production pour 2024 ajustées à 110 000-130 000 onces d’or
– Taux d’extraction augmentés de 76 000 tpd en juillet à 145 000 tpd en octobre
– Le débit de l’usine a atteint en moyenne 14 300 tpd pendant le troisième trimestre, avec une capacité d’opérer à 27 000 tpd
– La teneur moyenne traitée est de 1,15 g/t d’or avec un taux de récupération moyen d’environ 80 %
L’entreprise se concentre sur l’augmentation systématique des taux d’extraction et du débit de l’usine au cours du quatrième trimestre, alors que la mine progresse vers sa capacité de conception. Un rapport technique mis à jour pour Greenstone a été publié le 1er octobre 2024.
Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) hat ein Update zu den Betrieben seiner neuen Greenstone Gold Mine in Ontario, Kanada, bereitgestellt. Wichtige Punkte sind:
– Goldproduktion im Q3 von ungefähr 42.500 Unzen, ein Anstieg von 162% im Vergleich zu Q2
– Gesamtproduktion von 59.000 Unzen seit dem ersten Goldguss am 22. Mai 2024
– Produktionsprognose für 2024 auf 110.000-130.000 Unzen Gold angepasst
– Abbauquoten erhöht von 76.000 tpd im Juli auf 145.000 tpd im Oktober
– Die Durchsatzrate der Anlage betrug im Q3 durchschnittlich 14.300 tpd mit der Fähigkeit, mit 27.000 tpd zu operieren
– Durchschnittlicher Gehalt von 1,15 g/t Gold mit einer durchschnittlichen Rückgewinnung von etwa 80%
Das Unternehmen konzentriert sich darauf, sowohl die Abbauquoten als auch den Durchsatz der Anlage im vierten Quartal systematisch zu steigern, während die Mine auf die geplante Kapazität hinarbeitet. Ein aktualisierter technischer Bericht für Greenstone wurde am 1. Oktober 2024 veröffentlicht.
Positive
- Q3 gold production increased 162% from Q2 to 42,500 ounces
- Mining rates improved significantly, reaching 145,000 tpd in October
- Plant throughput demonstrated capacity to operate at full production rate of 27,000 tpd
- Strong health and safety performance with over 7 million hours worked and only one lost-time injury
Negative
- 2024 production guidance for Greenstone lowered from 175,000-205,000 to 110,000-130,000 ounces
- Plant experienced two multi-day shutdowns in September to address wear and other issues
- Recovery in August affected by operational adjustments and temporary suspension of gravity circuit
Insights
Greenstone’s Q3 production of
Plant throughput averaged 14,300 tpd in Q3, with capacity to reach the full 27,000 tpd target. The focus on increasing operating availability and consistent throughput is important for meeting production goals. The average processed grade of 1.15 g/t gold with
While the ramp-up shows positive trends, investors should monitor the mine’s ability to overcome operational challenges and achieve consistent performance. The revised guidance suggests a more conservative outlook, which may impact short-term expectations but could lead to more reliable long-term projections.
The Greenstone mine’s rapid progress in open pit development and mining rates is impressive. The substantial increase from 76,000 tpd in July to 145,000 tpd in October demonstrates effective scaling of operations. The current fleet of 25 CAT 793 trucks and other heavy equipment is substantial, with plans for additional machinery in early 2025, indicating ongoing capacity expansion.
The processing plant’s ability to handle full production capacity of 27,000 tpd is a positive sign, though the focus on increasing availability suggests some teething issues. The
Overall, the mine’s ramp-up appears to be progressing well, with typical challenges being addressed. The strong safety record of over 7 million hours worked with only one lost-time injury is particularly noteworthy and bodes well for operational stability.
Vancouver, British Columbia–(Newsfile Corp. – October 16, 2024) – Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) (“Equinox Gold” or the “Company”) is pleased to provide an operations update on its new Greenstone Gold Mine in Ontario, Canada.
Greg Smith, President & CEO of Equinox Gold, commented: “Since commencing operations, the Greenstone Mine has demonstrated good progress with both mining and processing rates increasing substantially during Q3 and into October. The Greenstone team is focused on systematically ramping up both mining rates and plant throughput during the fourth quarter as the mine continues to progress toward design capacity. With approximately 42,500 ounces of gold produced in Q3 and 59,000 ounces produced since pouring first gold in May, we estimate 2024 production for Greenstone at 110,000 to 130,000 ounces.”
GREENSTONE RAMP-UP PROGRESS
Safety
Greenstone has achieved strong health and safety performance since the start of project construction in Q4 2021, with more than 7 million hours worked with one lost-time injury.
Mining
The mine has made substantial progress in establishing the footprint of the first phase of the open pit. With continued expansion of the mining areas and the commissioning of additional haul trucks, mining rates increased substantially during the third quarter, from average daily tonnes mined of approximately 76,000 tonnes per day (“tpd”) in July to 87,000 tpd in August and 125,000 tpd in September, with peak movement exceeding 180,000 tpd during the month. This momentum has continued into October to date with the daily mining rate averaging 145,000 tpd, steadily approaching the Q4 target of 170,000 tpd.
The current operating mine fleet comprises 25 CAT 793 trucks haul trucks, two Epiroc D65 drills, six Epiroc Pit Viper 235 drills, four Komatsu PC5500 shovels, one Komatsu WE1850 loader and six Komatsu D375A-8 bulldozers, with an additional CAT 6030 excavator and four CAT 793 haul trucks expected to be commissioned in early 2025.
Processing
Plant throughput for the crushing and grinding circuits averaged approximately 14,300 tpd during Q3, increasing from 12,300 tpd in July to 17,500 tpd in August and to 13,200 tpd in September, reflecting two multi-day shut downs during the month to address certain wear and other issues identified during the ramp-up process. The plant processed a total of 1.3 million tonnes in Q3. Both the crushing and grinding circuits have demonstrated ample capacity to operate at the full production rate of 27,000 tpd and the current focus in the plant is on increasing operating availability and maintaining consistent throughput.
The processed grade during Q3 averaged 1.15 grams per tonne gold with average recovery of approximately
Gold Production
Gold production from Greenstone during Q3 totalled approximately 42,500 ounces, an increase of
UPDATED TECHNICAL REPORT
Equinox Gold published an updated technical report for Greenstone on October 1, 2024. The report is available for download on the Company’s website at www.equinoxgold.com, on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar.
SITE TOUR
Equinox Gold will host a Greenstone site tour on October 17, 2024 for analysts and institutional investors. The site tour deck will be available for download on the Company’s website on the morning of October 17.
Cautionary Notes
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information (collectively “Forward-looking Information”). Forward-looking Information in this news release relates to, among other things: the Company’s expectations for the operation of Greenstone, including production capabilities and 2024 guidance; future financial or operating performance; and anticipated improvements in recovery rates, mining rates, plant availability and throughput to achieve design capacity. Forward-looking Information is generally identified by the use of the words “will”, “progress”, “focus”, “ramping up”, “achieve”, “increase”, “plan”, “continue”, “expect”, and similar expressions and phrases or statements that certain actions, events or results “could”, “would” or “should”, or the negative connotation of such terms, are intended to identify Forward-looking Information. Although the Company believes the expectations reflected in such Forward-looking Information is reasonable, undue reliance should not be placed on Forward-looking Information since the Company can give no assurance that such expectations will prove to be correct. The Company has based Forward-looking Information on the Company’s current expectations and projections about future events and these assumptions include: achieving commercial production at Greenstone in accordance with expectations; the Company’s ability to achieve its production, cost and development expectations for Greenstone; no unplanned delays or interruptions in scheduled development and production; that ore grades and recoveries remain consistent with expectations; that tonnage of ore to be mined and processed remains consistent with expectations; the ability of Equinox Gold to work productively with its Indigenous partners at Greenstone; no labour-related disruptions; that all necessary permits, licenses and regulatory approvals are received in a timely manner; and the Company’s ability to comply with environmental, health and safety laws and other regulatory requirements. While the Company considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Accordingly, readers are cautioned not to put undue reliance on the Forward-looking Information contained in this news release.
The Company cautions that Forward-looking Information involves known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such Forward-looking Information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, geotechnical failures, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding, fires, and severe weather); inadequate insurance, or inability to obtain insurance to cover these risks and hazards; labour relations; relationships with, and claims by, local communities and Indigenous partners; the Company’s ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner or at all; changes in laws, regulations and government practices, including environmental laws and regulations; legal restrictions relating to mining; increased competition in the mining industry; and those factors identified in the section titled “Risks and Uncertainties” in Equinox Gold’s MD&A dated February 21, 2024 and in the section titled “Risks Related to the Business” in Equinox Gold’s most recently filed Annual Information Form, both of which are available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar. Forward-looking Information is designed to help readers understand management’s views as of that time with respect to future events and speak only as of the date they are made. Except as required by applicable law, Equinox Gold assumes no obligation to update or to publicly announce the results of any change to any Forward-looking Information contained or incorporated by reference to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the Forward-looking Information. If Equinox Gold updates any Forward-looking Information, no inference should be drawn that Equinox Gold will make additional updates with respect to that or any other Forward-looking Information. All Forward-looking Information contained in this news release is expressly qualified by this cautionary statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226848
FAQ
What was Greenstone Gold Mine’s Q3 2024 gold production?
Greenstone Gold Mine produced approximately 42,500 ounces of gold in Q3 2024, representing a 162% increase from Q2.
What is the updated 2024 production guidance for Greenstone (EQX)?
Equinox Gold (EQX) has adjusted the 2024 production guidance for Greenstone from 175,000-205,000 to 110,000-130,000 ounces of gold.
What was the average mining rate at Greenstone in October 2024?
The daily mining rate at Greenstone averaged 145,000 tonnes per day in October 2024, steadily approaching the Q4 target of 170,000 tpd.
What was the average plant throughput at Greenstone during Q3 2024?
The plant throughput for the crushing and grinding circuits at Greenstone averaged approximately 14,300 tonnes per day during Q3 2024.