Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • The company produced 219,122 ounces of gold in Q2 2025, including Calibre asset contributions.
  • Reported net income of USD 23.8 million, with adjusted net income of USD 56.7 million.
  • Ended the quarter with USD 406.7 million in cash and equivalents.

Equinox Gold Corp (TSX:EQX) (NYSE American: EQX) has reported financial and operating results for the second quarter of 2025, producing 219,122 ounces of gold. This includes a full-period contribution of 72,823 ounces from recently acquired Nicaragua operations and the Pan Mine.

The company recorded total cash costs of USD 1,478 per ounce and all-in sustaining costs (AISC) of USD 1,959 per ounce. Cash flow from operations before changes in non-cash working capital was USD 126.0 million, while adjusted EBITDA reached USD 200.5 million. Net income for the quarter was USD 23.8 million, or USD 0.05 per share, with adjusted net income of USD 56.7 million, or USD 0.11 per share.

As of June 30, 2025, Equinox Gold held USD 406.7 million in cash and equivalents and reported net debt of USD 1,373.7 million. Sustaining capital expenditures totaled USD 71.1 million, and non-sustaining expenditures were USD 42.3 million.

Key operational milestones included the closing of the Calibre Mining acquisition on June 17, 2025, and progress on several growth projects. The Greenstone Gold Mine saw mining rates increase 23% and processing rates rise 20% over Q1. The Valentine Gold Mine entered final commissioning stages, with ore processing expected by the end of August 2025 and first gold pour about a month later. The company also ratified new long-term land access agreements at Los Filos, enabling exploration and engineering studies for potential expansion.

After quarter end, Darren Hall was appointed Chief Executive Officer and Director. In Nicaragua, the company reported high-grade drill results, including 36.77 g/t gold over 6.9 metres and 8.55 g/t over 14.6 metres.

For 2025, production guidance remains at 785,000 to 915,000 ounces, with a focus on ramping up Greenstone and achieving first gold at Valentine. The company is also advancing development at Castle Mountain and Aurizona.