- Equinox Gold released its Q1 results this week, reporting quarterly gold production of ~117,500 ounces, translating to an 8% decline vs. the year-ago period.
- This was related to unplanned lower production at RDM (permitting), much lower production at Aurizona (elevated rainfall), and a weaker quarter at Mesquite.
- Unfortunately, at the same time as Equinox released its results, Iamgold reported another capex blowout at Cote, which may be leading to some concerns about cost overrun at Greenstone.
- While the results were mediocre, and fears about a capex overrun aren't unreasonable, I see this negativity as mostly priced into the stock, suggesting further weakness below US$5.76 could present a buying opportunity.
For further details see:
Equinox Gold: A Tough Start To The Year