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Production / Operations

Equinox Gold Delivers Record 236,470 Ounces in Q3 2025, Driving Strong Finish to the Year and Continued Buoyant Growth Into 2026

By The Northwire Desk — AI Analysis Oct 07, 2025 · 06:31 EQX · 15.46 Equinox Gold Corp.
EQX · Price

Executive Summary

  • Equinox Gold reported a record consolidated Q3 production of 236,470 ounces of gold, bringing year‑to‑date output to 634,428 ounces.
  • Valentine Gold Mine poured its first gold ahead of schedule and is ramping toward full nameplate capacity (2.5 Mt/yr) by Q2 2026.
  • Greenstone Mine showed strong operational improvements – mining rates up 10% YoQ and mill grades up 13%, supporting confidence in meeting the lower end of its 2025 production guidance.

Key Details

  • Consolidated Production
  • Q3 2025: 236,470 oz (record)

  • YTD (9 months): 634,428 oz (excludes Los Filos, Castle Mountain, Valentine)

  • Quarterly Breakdown

  • Q1 2025: 182,089 oz (44,449 oz Greenstone, 71,539 oz Calibre)
  • Q2 2025: 219,123 oz (51,274 oz Greenstone, 72,823 oz Calibre)

  • Q3 2025: 233,216 oz (56,029 oz Greenstone, 71,119 oz Nicaragua, 67,629 oz Brazil, 27,642 oz Mesquite, 10,797 oz Pan)

  • Valentine Gold Mine

  • First gold poured on 14 Sept 2025 – ahead of schedule.
  • Plant throughput averaged 57% of nameplate in September; >23% of days exceeded nameplate (6,850 t/d).

  • Expected Q4 production: 15,000–30,000 oz; full‑capacity (2.5 Mt/yr) anticipated by Q2 2026.

  • Greenstone Gold Mine

  • Mining rate in Q3: 185,000 t/d, +10% vs Q2 and +21% vs Q1.
  • Mill grade in Q3: 1.05 g/t (13% increase YoQ); September average >1.3 g/t.

  • Open‑pit ore mined: 3.8 Mt at 0.91 g/t; mill processed 1.9 Mt at 1.05 g/t.

  • Financial Highlights

  • Cash & equivalents: $359 M as of 30 Sept 2025.
  • Debt reduction: US$139 M retired (including conversion of Sept‑2020 convertible notes).

  • Completed divestiture of Nevada assets for US$115 M (closed 1 Oct 2025).

  • Exploration & Resource Expansion

  • El Limon Mine Complex: highest‑grade intercepts to date – 36.77 g/t Au over 6.9 m, 8.55 g/t Au over 14.6 m, 10.19 g/t Au over 6.0 m.

  • Ongoing drilling in Newfoundland, Nicaragua, Mesquite; exploration commenced at Los Filos.

  • Future Guidance & Events

  • Company remains on track for annual production guidance of 785,000–915,000 oz.
  • Anticipated Q4 2025 production at Greenstone near the lower end of its 220,000–260,000 oz range.
  • Un‑audited Q3/9M results to be released 5 Nov 2025 (after market close); conference call/webcast on 6 Nov 2025, 7:00 am PT.

Notable Quotes

“Equinox Gold delivered a solid third quarter, producing a record consolidated 236,470 ounces of gold… we remain on track to deliver in the mid‑range of our consolidated annual gold production guidance.” – Darren Hall, CEO

“Greenstone’s operational performance improved meaningfully during the quarter… the progress being made … supports our confidence in Greenstone delivering a strong Q4 and continuing that momentum into 2026.” – Darren Hall, CEO

Read the original news release →

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Production / Operations