24/7 Market News Snapshot 08 January, 2025 – Equinox Gold Corp. (NYSE:EQX)

January 8, 2025

DENVER, Colo., 08 January, 2025 (247marketnews.com) – (NYSE:EQX) are discussed in this article.
Equinox Gold Corp. has demonstrated robust momentum in the market, opening at $5.35 and currently trading at $5.80, marking a notable increase of approximately 9.85%. This uptrend is bolstered by a trading volume of 11.33 million shares, reflecting heightened investor interest and potential for a breakout as the stock approaches significant resistance levels. Analysts suggest that the increased volume indicates sustained buying pressure, which could lead to continued upward movement. Investors are encouraged to remain vigilant for possible pullbacks or consolidation, as these may offer additional opportunities for capitalizing on this bullish trend.

In a remarkable operational highlight, Equinox Gold announced record gold production for both the fourth quarter and the entire year of 2024. The company achieved an impressive total of 213,960 ounces of gold produced in Q4, bringing the annual total to a historic 621,870 ounces. Greg Smith, President and CEO of Equinox Gold, described 2024 as a pivotal year, particularly with the successful acquisition and commencement of commercial production at the Greenstone mine, which alone accounted for over 111,700 ounces in its initial operational year.

Financially, Equinox Gold is solid, concluding the year with about $240 million in cash and equivalents, supplemented by $105 million accessible through a revolving credit facility and an additional $100 million through an undrawn accordion feature. In Q4, the company’s strategic efforts to reduce debt by $180 million, including the final payment to Orion Mine Finance, underscore its commitment to maintaining a strong balance sheet.

With an eye on the future, Equinox Gold anticipates further growth as production at Greenstone is expected to ramp up in 2025. The company is set to release its audited financial results for Q4 2024 and provide production and cost guidance for 2025 in late February, positioning itself for a promising trajectory in the mining sector.

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