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Equinox Gold Corp

www: www.equinoxgold.com   email: info@equinoxgold.com
Category: Major
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Symbol Data

Symbol Currency
TSE:EQX CAD
NYSEAMERICAN:EQX USD

Description

Equinox Gold Corp are a gold focused major with four producing mines in Brazil, Nicaragua and USA, five mines in development in Brazil, Canada and USA and exploration properties. Currently they produce roughly 850koz. of gold per year. They have approximately 59Moz. of gold in the reserves and resources category of which 45Moz. are in the measured and indicated category. They have a market capitalisation of ~$5219.92M which is a rise of roughly 7% over the last one weeks. As of 07/04/2025 they have ~$1,449M debt and ~$376M cash. They have 759M shares outstanding and trade on the Toronto Stock Exchange.

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General Details

Financial 07/04/2025
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
MCap (FD): $4,889.93M $5,219.92M 07/04/2025 $330.00M
Total Assets: $6,670.00M $6,670.00M 07/04/2025 $0.00M
Total Liabilities: $3,350.00M $3,350.00M 07/04/2025 $0.00M
Current Assets: $592.00M $592.00M 07/04/2025 $0.00M
Current Liabilities: $693.00M $693.00M 07/04/2025 $0.00M
Total Debt: $1,449.00M $1,449.00M 07/04/2025 $0.00M
Cash: $376.00M $376.00M 07/04/2025 $0.00M
Enterprise Value: $5,962.93M $6,292.92M 05/31/2169 $330.00M
Cash Flow: $839.98M $848.30M never $8.32M
Cash Flow Multiple: 5.82 6.15 never 0.33
Net Debt to
Cash Flow Ratio:		 1.28 1.26 never -0.01
Finance within 1 year: 07/04/2025 n/a
Misc 07/04/2025
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 758,992,919 758,992,919 07/04/2025 0
Shares (FD): 839,000,000 839,000,000 07/04/2025 0
Insider Ownership: n/a n/a 03/04/2025 n/a
Dividend (Annual): n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 01/01/2018 07/04/2025 n/a
Production (Gold Eq Oz.): (guess) 
850,000		 (guess) 
850,000		 07/04/2025 0
Production (Silver Eq Oz.): (guess) 
77,189,295		 (guess) 
74,419,456		 07/04/2025 -2,769,839
Initial CapEx (Outstanding): $146.00M
2.99% of MCap		 $146.00M
2.8% of MCap 		07/04/2025 $0.00M
Funding Option: n/a (guess)  Issue stock 07/04/2025 n/a
Documentation: none PRODUCER 07/04/2025 n/a
Future MCap Modifier: 0.2
Producer: Growth Potential
 0.2
Producer: Growth Potential
 10/01/2023 0
Cash Flow Multiplier: 18 18 03/04/2025 0.00

Resource Data

GOLD 07/04/2025
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 23.00M 23.00M 07/04/2025 0.00M
Measured & Indicated: 45.00M 45.00M 07/04/2025 0.00M
Inferred: 14.00M 14.00M 07/04/2025 0.00M
Reserves & Resources: 59.00M 59.00M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 19.55M 19.55M 07/04/2025 0.00M
Measured & Indicated: 34.51M 34.51M 07/04/2025 0.00M
Inferred: 5.95M 5.95M 07/04/2025 0.00M
Reserves & Resources: 40.46M 40.46M never 0.00M
C
U
R
R
E
N
T		 Annual Production: (guess) 
850,000oz.		 (guess) 
850,000oz.		 07/04/2025 0oz.
Cash Cost: $1,500 $1,500 07/04/2025 $0.00
Extra Operating Cost: $850 $850 07/04/2025 $0.00
Total: $2,350 $2,350 07/04/2025 $0.00
Margin (Free Cash Flow): $988 (30%) $998 (30%) $9.79
G
R
A
D
E		 Underground (Avg): 5.00 g/t 5.00 g/t 07/04/2025 n/a
Open Pit (Avg): n/a 0.75 g/t 03/23/2024 0.75 g/t
Recovery Rate: (CG)  85.00% (CG)  85.00% 07/04/2025 0.00%
F
U
T
U
R
E		 Proven & Probable: 45.00M 45.00M 07/04/2025 0.00M
Annual Production: 1,200,000oz. 1,200,000oz. 07/04/2025 0oz.
Cash Cost: $1,600 $1,600 07/04/2025 $0
Extra Operating Cost: $850 $850 07/04/2025 $0
SILVER 07/04/2025
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 07/04/2025 0.00M
Measured & Indicated: n/a n/a 07/04/2025 0.00M
Inferred: n/a n/a 07/04/2025 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 07/04/2025 0.00M
Measured & Indicated: n/a n/a 07/04/2025 0.00M
Inferred: n/a n/a 07/04/2025 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 07/04/2025 $0.00
Extra Operating Cost: n/a n/a 07/04/2025 $0.00
Total: n/a n/a 07/04/2025 $0.00
Margin (Free Cash Flow): n/a $0.00
G
R
A
D
E		 Underground (Avg): n/a n/a 07/04/2025 n/a
Open Pit (Avg): n/a n/a 03/11/2024 n/a
Recovery Rate: n/a n/a 07/04/2025 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 07/04/2025 0.00M
Annual Production: n/a n/a 07/04/2025 n/a
Cash Cost: n/a n/a 07/04/2025 n/a
Extra Operating Cost: n/a n/a 07/04/2025 n/a

Property

Last Analysis Data  (07/04/2025)
Stage Name Owned Au Ag Cu Notes
Prod Fazenda 100% show
70,000 oz per year.

6 year mine life.
Prod RDM 100% show
75,000 oz per year.
Dev Aurizona 100% show
2 million oz deposit.

$146 Capex
Production in 2019.
Dev Santa Luz 100% show
On Care & Maintenance.

100,000 oz per year
$84 million capex to restart production.
Dev Valentine Lake 100% show
3 million oz and growing. Large 10 mile trend on 60,000 acres.

Moving towards development.

Open Pit and Underground.
Exp Baie Verte 100% n/a
Exp Finger Pond 100% n/a
Exp Greenstone 60% show
8M oz project

70% ownership

240,000 oz year (their share)
Exp Los Filos 100% show
Open Pit and Underground mines.

150,000 acres.
Prod Limon 100% n/a
Exp East Borosi 30% show
700,000 oz at 5 gpt

IAMGold JV
Exp La Libertad 100% show
80,000 oz annual production.
1 million oz.
Growing in size.
Exp Pavon 100% show
High grade open pit

250,000 oz at 5 gpt.

Growing in size.
Prod Pan 100% show
3M oz at .8 gpt

40,000 oz production.

$800 cash costs.
Dev Castle Mountain 100% show
4 million oz resource.

Low grade at .6 gpt

All-in cost projected to be around $1,000 per oz.

PEA: Low capex of only $98 million.
Dev Goldstrike 100% show
600,000 oz at .5 gpt

Next mine.

Near Pan.
Exp Bonanza Mine 100% show
Past producing high grade gold mine.
Exp Golden Eagle 100% show
2 million oz at 1.3 gpt
Exp Mesquite 100% show
1.1 million oz of reserves

135,000 oz annual production.

$1,100 all-in costs.
Total Land Package Size (ha): 309,000  
Current Data
Stage Name Owned Au Ag Cu Notes
Prod Fazenda 100% show
70,000 oz per year.

6 year mine life.
Prod RDM 100% show
75,000 oz per year.
Dev Aurizona 100% show
2 million oz deposit.

$146 Capex
Production in 2019.
Dev Santa Luz 100% show
On Care & Maintenance.

100,000 oz per year
$84 million capex to restart production.
Dev Valentine Lake 100% show
3 million oz and growing. Large 10 mile trend on 60,000 acres.

Moving towards development.

Open Pit and Underground.
Exp Baie Verte 100% n/a
Exp Finger Pond 100% n/a
Exp Greenstone 60% show
8M oz project

70% ownership

240,000 oz year (their share)
Exp Los Filos 100% show
Open Pit and Underground mines.

150,000 acres.
Prod Limon 100% n/a
Exp East Borosi 30% show
700,000 oz at 5 gpt

IAMGold JV
Exp La Libertad 100% show
80,000 oz annual production.
1 million oz.
Growing in size.
Exp Pavon 100% show
High grade open pit

250,000 oz at 5 gpt.

Growing in size.
Prod Pan 100% show
3M oz at .8 gpt

40,000 oz production.

$800 cash costs.
Dev Castle Mountain 100% show
4 million oz resource.

Low grade at .6 gpt

All-in cost projected to be around $1,000 per oz.

PEA: Low capex of only $98 million.
Dev Goldstrike 100% show
600,000 oz at .5 gpt

Next mine.

Near Pan.
Exp Bonanza Mine 100% show
Past producing high grade gold mine.
Exp Golden Eagle 100% show
2 million oz at 1.3 gpt
Exp Mesquite 100% show
1.1 million oz of reserves

135,000 oz annual production.

$1,100 all-in costs.
Total Land Package Size (ha): 309,000  

Profitability (by resource)

Proven &
Probable		 07/04/2025
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 23.00M 23.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -74.95M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 19.55M 19.55M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -63.71M
Maximum Profit (Gold): $19,319.51M $19,510.90M n/a $191.39M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $19,319.51M $19,510.90M n/a $191.39M
Max Profit / Current MCap: 3.951 3.738 n/a -0.213
Max Profit Per Share (Gold): $23.03 $23.25 n/a $0.23
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $23.03 $23.25 n/a $0.23
Total Free Profit Per Share: $15.12 $14.73 n/a $-0.38
FD MCap / Gold Eq.: $250.12 $267.00 n/a $16.88
FD MCap / Silver Eq.: $2.75 $3.05 n/a $0.30
FD MCap / Per Metal
as % Spot Price:		 7.49% 7.98% n/a 0.48%
Measured &
Indicated		 07/04/2025
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 45.00M 45.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -146.64M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 34.51M 34.51M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -112.46M
Maximum Profit (Gold): $34,103.13M $34,440.98M n/a $337.85M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $34,103.13M $34,440.98M n/a $337.85M
Max Profit / Current MCap: 6.974 6.598 n/a -0.376
Max Profit Per Share (Gold): $40.65 $41.05 n/a $0.40
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $40.65 $41.05 n/a $0.40
Total Free Profit Per Share: $32.74 $32.53 n/a $-0.21
FD MCap / Gold Eq.: $141.70 $151.26 n/a $9.56
FD MCap / Silver Eq.: $1.56 $1.73 n/a $0.17
FD MCap / Per Metal
as % Spot Price:		 4.24% 4.52% n/a 0.27%

Reserves &
Resources		 07/04/2025
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 59.00M 59.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -192.26M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 40.46M 40.46M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -131.84M
Maximum Profit (Gold): $39,982.98M $40,379.08M n/a $396.10M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $39,982.98M $40,379.08M n/a $396.10M
Max Profit / Current MCap: 8.177 7.736 n/a -0.441
Max Profit Per Share (Gold): $47.66 $48.13 n/a $0.47
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $47.66 $48.13 n/a $0.47
Total Free Profit Per Share: $39.75 $39.61 n/a $-0.14
FD MCap / Gold Eq.: $120.86 $129.01 n/a $8.16
FD MCap / Silver Eq.: $1.33 $1.47 n/a $0.14
FD MCap / Per Metal
as % Spot Price:		 3.62% 3.85% n/a 0.23%

Future Valuation (Cash Flow & Totals)

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