Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Unfinished Business: The budget cuts Musk couldn’t complete...
‘American hero’ or ‘failure’: Elon Musk’s DOGE departure...
Donald Trump fires National Portrait Gallery director for...
Biden says he could ‘beat the hell out...
Elon Musk sports black eye at farewell presser...
Musk confident DOGE will save $1 trillion as...
Who will be Elon’s successor? The top names...
Trump tariff plan faces uncertain future as court...
Hunter Biden seen driving Toyota rental in South...
Juggernaut Files for Final Approval of Oversubscribed Financing
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Equinox Gold Opens 400,000 Ounce Greenstone Mine in Ontario

by admin August 31, 2024
August 31, 2024
Equinox Gold Opens 400,000 Ounce Greenstone Mine in Ontario

Canadian miner Equinox Gold (TSX:EQX,NYSEAMERICAN:EQX) announced today the official opening of its Greenstone mine in Geraldton, Ontario, which will be one of Canada’s largest gold mines when it reaches full capacity.

The Greenstone mine began construction in October 2021, with first gold poured on May 22, 2024. Equinox Gold’s acquisition of Orion Mine Finance’s 40 percent interest in Greenstone that month gave the company full ownership of the mine.

Greenstone is currently in its ramp-up phase, with commercial production expected to commence in the third quarter of 2024.

In recent months, the mine has achieved significant production milestones, pouring approximately 2,625 ounces of gold in May, 13,625 ounces in June and 19,750 ounces in July. Furthermore, the mine’s processing facility has reached over 60 percent of its design capacity as of August.

In total, Greenstone is set to produce 400,000 ounces of gold annually for its first five years, with a projected life-of-mine production of over 5 million ounces.

The operation includes a 27,000 metric tons per day processing facility, with gold recoveries anticipated to average 91 percent. The mine, which operates with a life-of-mine strip ratio of 5.1:1, also benefits from Ontario being a favorable mining jurisdiction.

At the time, the Greenstone project was only at 96 percent completion. The commissioning of the mine furthers Beaty and the company’s goal of capitalizing on the gold sector’s strong fundamentals in recent years. The company operates seven other gold mines in the Americas, which combined for production of 543,000 ounces of gold in 2023.

The Greenstone mine is located on the traditional territories of four First Nations: the Animbiigoo Zaagi’igan Anishinaabek, the Aroland First Nation, the Ginoogaming First Nation and the Long Lake #58 First Nation. It is also home to the citizens of the Métis Nation of Ontario.

Equinox Gold has established long-term partnerships and agreements with the five First Nations, including ones that address environmental management, the use of traditional knowledge and heritage resources, employment and other key areas of collaboration.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Top 5 Canadian Mining Stocks This Week: Euro Manganese Climbs on EU Application
next post
With 6 days until voting starts, ‘election season’ kicks off sooner than you think

You may also like

Rio Silver Pivots to High-Grade Silver Exploration /...

April 1, 2025

Tech 5: Bitcoin Breaks US$100,000, Saylor’s MicroStrategy Loads...

December 7, 2024

Turkey Eyes Chinese Partnership to Develop Rare Earths...

September 4, 2024

Forward Water Technologies Corp. and Fraser Mackenzie Accelerator...

October 1, 2024

AI Market 2024 Year-End Review

December 18, 2024

Rick Rule and Friends Give Investors the “Gift”...

December 12, 2024

Riverside Resources Moves Ahead on Plan to Spin...

April 1, 2025

Apollo Silver Appoints Ross McElroy as President and...

May 5, 2025

Nova Minerals Completes NASDAQ IPO, Secures Growth Capital

July 27, 2024

Trading Halt

December 6, 2024

Recent Posts

  • Unfinished Business: The budget cuts Musk couldn’t complete and what’s next for DOGE
  • ‘American hero’ or ‘failure’: Elon Musk’s DOGE departure divides Capitol Hill
  • Donald Trump fires National Portrait Gallery director for being ‘strong supporter’ of DEI
  • Biden says he could ‘beat the hell out of’ authors of new book arguing his cognitive decline
  • Elon Musk sports black eye at farewell presser in Oval Office: ‘Horsing around with little X’

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (752)
    • Investing (2,218)
    • Politics (2,738)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.