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Equinox Gold pushing ahead with Mexico, Brazil projects

Bnamericas Published: Wednesday, August 12, 2020
Equinox Gold pushing ahead with Mexico, Brazil projects

Equinox Gold continues to advance its Latin American projects, including a possible increase in the scale of a new plant at Los Filos in Mexico.

Equinox, which also has assets in the US, plans to become a 1Moz/y gold producer.

LOS FILOS EXPANSION

The company continued to advance its US$213mn Los Filos expansion during Q2, and is now evaluating potential to upsize a planned carbon-in-leach (CIL) plant, CEO Christian Milau told the Q2 earnings call.

This would involve building an 8,000t/d capacity plant, expandable to 10,000t/d, compared to 4,000t/d originally envisaged.

The upsized CIL plant would allow the company to revise its mine plan and scheduling at Los Filos. A study is due out in Q4.

Equinox is also looking at the potential to boost resource and reserves at Los Filos, incorporating higher gold prices.

“Obviously, with the new gold price environment, it really does change things,” Milau added.

Gold is currently trading around an all-time high of US$2,000/oz.

The expansion is projected to lift output to 350,000oz/y gold from around 200,000oz/y currently.

SANTA LUZ

Equinox plans to conclude a study on the Santa Luz gold project in Brazil in H2.

The US$82mn project is expected to produce around 100,000oz/y gold over an 11-year mine life.

“We’ve already given the go-ahead to start some early works and small construction works and maybe a few orders in advance of that full construction announcement, but we fully expect to be announcing that in H2,” the CEO told the call.

Equinox produced 127,016oz gold in Q2, with revised 2020 guidance of 470,000-530,000oz.

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