Equinox Gold Reports 176,836 Ounces of Gold Production in Q2 2026, Canadian Gold Production Increased 11% Quarter-over-Quarter
Equinox Gold reported second-quarter 2026 gold production of 176,836 ounces, driven by strong performance at its Canadian assets, Greenstone and Valentine. The company also announced a proposed business combination with Orla Mining Ltd. (OLA), which would create a premier North American gold producer with approximately 1.1 million ounces of expected annual production in 2026. Additionally, Equinox secured 20-year land access agreements with communities hosting the Los Filos mine and initiated restart planning for the asset.
Consolidated gold production for the quarter totaled 176,836 ounces. Production contributions by asset included Greenstone Mine with 64,656 ounces, Valentine Gold Mine with 32,617 ounces, Nicaragua with 59,476 ounces, Mesquite with 18,572 ounces, and Castle Mountain with 1,515 ounces. Year-to-date gold production reached 374,464 ounces, with the company remaining on track for its 2026 guidance of 700,000 to 800,000 ounces.
Operational highlights at the Canadian assets showed continued optimization. At Greenstone, mining rates averaged more than 199,000 tonnes per day post-winter, while mill throughput averaged 26,856 tonnes per day. Sixty-nine percent of days exceeded nameplate capacity of more than 27,000 tonnes per day, an increase from 51% in the first quarter. At Valentine, the process plant averaged 7,730 tonnes per day, representing 113% of nameplate capacity. Early works for the Phase 2 mill expansion are expected to begin in the second half of 2026.
Regarding the proposed business combination with Orla Mining, the transaction aims to create a senior gold producer with approximately 1.1 million ounces of annual production in 2026 and a pathway to approximately 1.9 million ounces long-term. A Special Meeting of Shareholders is scheduled for July 22, 2026, to vote on the issuance of up to 421,770,377 common shares. The exchange ratio is set at 1.00 Equinox Gold common share plus US$0.0001 cash for each Orla share.
In other operational developments, Equinox secured 20-year land access agreements with all three host communities for the Los Filos mine. The company has established a new framework for labor and supply services and initiated restart planning and technical work to optimize operations. This includes evaluating a rightsized carbon-in-leach development scenario.
Darren Hall, CEO, stated, “Equinox Gold delivered sequentially higher production at its Canadian operations... The team’s continued focus on operational execution and optimization is delivering results at both Greenstone and Valentine as we move into what we expect to be a stronger second half of the year.”
Hall added, “The quarter also marked two important strategic milestones. We announced our proposed business combination with Orla Mining, which we believe will create a premier North American gold producer... We also secured 20-year land access agreements with the three communities that host the multi-million-ounce Los Filos mine, a significant step towards the unlocking of value of this high-quality long-term growth asset in our portfolio.”