Equinox Pours First Gold at Greenstone Mine

Equinox Gold Corp. has poured first gold at its new Greenstone mine in Ontario, Canada. The company said the inaugural gold pour took place on time as scheduled, producing 1,800 ounces (oz) of gold from the full recovery circuit, with all equipment operating as expected.

“This first gold pour represents another key step toward achieving commercial production at the Greenstone mine,” said Greg Smith, president and CEO, Equinox Gold. “This is a proud moment for all involved, and I extend my congratulations to the entire Greenstone team. We look forward to ramping up to commercial production in the third quarter of this year and delivering sustained value from the Greenstone mine for all our stakeholders.”

The Greenstone mine will be Equinox Gold’s flagship asset and largest, lowest- cost producer. When operating at capacity, the Greenstone mine is expected to produce approximately 400,000 oz/y of gold for the first five years, and average 360,000 oz/y of gold for its initial 14- year mine life, making Greenstone one of Canada’s largest gold mines.

In related news, Equinox announced that it has completed its previously announced acquisition of the remaining 40% of Greenstone Gold Mine GP Inc. from certain funds managed by Orion Mine Finance Management LP, giving it 100% ownership of the Greenstone mine. In connection with the transaction, Equinox Gold has also completed the previously announced $500 million three-year term loan.

“Closing of this transaction consolidates our ownership in what we believe will be a world class, a long-life, low-cost gold mine of significant scale in a top-tier mining jurisdiction,” Smith said. “We again thank Orion for their partnership and support over the last few years and look forward to delivering value to all our stakeholders as we advance the Greenstone mine towards commercial production.”

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