Equinox Gold sinks on disappointing Ontario mine output, lower guidance

seekingalpha10-18

Equinox Gold (NYSE:EQX) -6.4% in Thursday's trading after reporting Q3 gold production from its new Greenstone mine in Ontario that missed expectations while lowered guidance for full-year output. ...

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Equinox  said the mine produced 42.5K oz of gold during Q3 and 59K oz since pouring first gold in May. Scotiabank analyst Ovais Habib said Equinox  missed his production estimate of 56.5K oz for the quarter, according to Dow Jones. During Q3, the mine's processed grade averaged 1.15 g/t at an average recovery rate of ~80%, which the company said was largely on plan. 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