en.Wedoany.com Reported - Equinox Gold Corp., listed on the Toronto Stock Exchange (TSX) and the NYSE American, achieved gold production of 197,628 ounces in the first quarter of 2025. The Valentine Gold Mine in Newfoundland and Labrador, Canada, and the Greenstone Gold Mine in Ontario, Canada, collectively contributed 87,402 ounces. The company successfully repaid $990 million in debt during the same period and paid its inaugural dividend of $0.015 per share on March 26.
The two operating mines in Canada are in a production ramp-up phase. The Greenstone Gold Mine continues to benefit from an improvement plan initiated in 2025, achieving a daily average mining rate of 180,248 tonnes during the winter. The processing plant at Greenstone averaged 27,000 tonnes per day in Q1, exceeding its nameplate capacity on 51% of the days. The Valentine Gold Mine processing plant achieved an average daily throughput of 6,192 tonnes in Q1, equivalent to 90% of its nameplate capacity, with February and March reaching 101% of nameplate capacity. CEO Darren Hall stated that the company is advancing exploration and implementing a Phase 2 drilling expansion program at the Valentine site.
Hall forecasts that the company's Canadian assets will achieve an average annual production of 543,000 ounces between 2026 and 2036. Looking at the overall asset portfolio, Equinox Gold is advancing several exploration projects to support organic growth, including technical studies for the Castle Mountain project in California, USA, and the Los Filos project in Mexico. Once operational, these two projects have the combined potential to produce over 450,000 ounces per year.
On the financial front, strong operating cash flow in Q1 and proceeds from the sale of Brazilian assets supported a significant reduction of $990 million in debt. The sale of the Brazilian operations is part of the company's strategy to focus on growth in North America – the transaction, with a total consideration of $1.015 billion, divested the Aurizona and RDM gold mines and the Bahia complex to a subsidiary of CMOC Group. Following this divestiture, the company's production platform consists of the Valentine and Greenstone mines in Canada, the Mesquite mine in California, USA, and the El Limón and Libertad mines in Nicaragua. Equinox Gold plans to release its complete Q1 financial results around May 6.
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