TSX- and NYSE-listed Equinox Gold Corporation has delivered strong first-quarter production of 197 628 oz, which is poised to increase once the company ramps up its two Canadian assets.

The two Canadian operations – Valentine, in Newfoundland & Labrador, and Greenstone Gold, in Ontario – contributed 87 402 oz to production in the quarter ended March 31, with the balance made up by mines in Nicaragua and California, in the US, as well as in Brazil.  

CEO Darren Hall expects Canadian production for the full year to be weighted towards the second half of the year as the assets continue to ramp up, supported by steady-state contributions from the Nicaragua Operations, in Nicaragua and Mesquite mine, in California.

“Together, our operations are expected to generate strong cash flow in the current gold price environment, supporting the implementation of a two-pronged capital return programme,” he explains.

At the Greenstone mine, improvement programmes that started in 2025 continue to deliver positive results with winter mining rates averaging 180 248 t/d. In the quarter under review, the mill throughput exceeded nameplate capacity on 51% of the days with an average of 27 000 t/d.

At Valentine, the process plant is currently averaging 6 192 t/d, or 90% of nameplate capacity, while 101% of nameplate capacity was achieved in February and March. Hall confirms the company is undertaking exploration on the property, with plans advancing for a Phase 2 expansion of drilling.

Hall expects Canadian production to average 543 000 oz/y from 2026 to 2036.

Across the portfolio, Equinox is advancing exploration to support organic growth, including technical studies at the Castle Mountain and Los Filos prospects, in California and Mexico, respectively, which together have the potential to contribute more than 450 000 oz of additional yearly production once operational.

Notably, Equinox managed to repay $990-million of its debt during the quarter under review following the sale of its Brazil operations and strong cashflows from its operating mines.  The company also paid its maiden dividend of $0.015 apiece on March 26.

The company will release its full results for the quarter on or about May 6.