- Equinox Gold released its Q3 results last week, reporting quarterly gold production of ~139,800 ounces at industry-lagging all-in sustaining costs of $1,327/oz.
- This represented a ~12% increase on a year-over-year basis thanks to the addition of Mercedes, but while output was up, costs rose over 20% in the period.
- The positive news in the quarter was the announcement of a ground-breaking ceremony at Greenstone, a much lower-cost Tier-1 jurisdiction mine that will help improve Equinox's cost/jurisdictional profile.
- At a valuation of ~0.70x P/NAV, Equinox remains very reasonably valued, and I would view any pullbacks below $6.70 as low-risk buying opportunities.
For further details see:
Equinox Gold: Greenstone Gets The Green Light