Latest news with #EquinoxGold
Yahoo
3 days ago
- Business
- Yahoo
Why Equinox Gold Corp. (EQX) Crashed On Friday
We recently published a list of . In this article, we are going to take a look at where Equinox Gold Corp. (NYSEAmerican:EQX) stands against other Friday's worst-performing stocks. Equinox Gold dropped its share prices by 5.06 percent on Friday to finish at $6.94 apiece as investors unloaded portfolios amid the drop in spot prices of gold. On the same day, gold saw its spot prices decline by 1.26 percent to $3,310.42 per troy ounce, amid a profit-taking from the previous day's gains. Aerial view of a large-scale gold mine, showing the extent of the company's operations. In recent news, Equinox Gold Corp. (NYSEAmerican:EQX) entered into an agreement with Calibre Mining Corp. for their planned $1.8-billion merger. Under the transaction, Equinox Gold Corp. (NYSEAmerican:EQX) will acquire all of Calibre's issued and outstanding shares. The transaction is expected to boost Equinox Gold Corp.'s (NYSEAmerican:EQX) producing mines to nine from seven previously, alongside Calibre's Valentine project in Newfoundland, which is underway construction. Upon completion, Equinox Gold Corp. (NYSEAmerican:EQX) is set to become Canada's largest gold miner. The transaction is expected to be closed this month. Overall, EQX ranks 5th on our list of Friday's worst-performing stocks. While we acknowledge the potential of EQX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
28-05-2025
- Business
- Yahoo
Versamet Royalties Announces Record Revenue for the First Quarter of 2025
Vancouver, British Columbia--(Newsfile Corp. - May 28, 2025) - Versamet Royalties Corporation (TSXV: VMET) ("Versamet" or the "Company") announces its operating and financial results for the three months ended March 31, 2025. All amounts are in U.S. dollars unless otherwise indicated. First Quarter 2025 Highlights Record revenue of $3.5 million. Attributable gold equivalent ounces ("GEOs") of 1,211. Operating cash flow before working capital changes of $1.5 million. Adjusted net income before finance expense, interest, taxation and depletion of $1.5 million. Appointed Dan O'Flaherty as Chief Executive Officer of the Company. Subsequent to quarter end: Acquired a copper stream on the operating Kolpa mine in Peru, owned by Endeavour Silver. The Company's common shares commenced trading on the TSX Venture Exchange under the symbol "VMET". Increased the revolving credit facility to $60 million, with a $15 million accordion feature. Fully repaid the outstanding balance on the Company's convertible loan. Appointed Elizabeth McGregor and Mark Backens to the Company's Board of Directors. Dan O'Flaherty, CEO of Versamet, commented, "It has been an exciting start to an important year for Versamet. This quarter marks the beginning of a significant ramp-up in GEOs and revenue, which is expected to grow our forecasted production to between 14,000 and 16,000 GEOs by 2026. We were pleased to see the first gold pour at Artemis Gold's Blackwater mine in B.C. and the continued ramp-up of operations at Equinox Gold's Greenstone mine in Ontario, both of which are expected to contribute increasing GEOs to Versamet over the remainder of this year and into 2026. Looking ahead, we aim to continue this momentum with several upcoming catalysts, including the first delivery of copper from Kolpa, the first gold pour at Kiaka in the second half of the year, and the start of pre-strip mining at Toega. Subsequent to quarter end, the Company's common shares commenced trading on the TSX Venture Exchange on May 20, marking another key milestone in our growth. A primary focus going forward will be enhancing our market profile and broadening our investor base." Summary of Quarterly Results All amounts in thousands except GEOs.Q1 2025 Q1 2024 Attributable GEOs 1,211 1,308 Revenue $3,454 $2,697 Net income (loss) $1,784 ($173) Operating cash flow, before working capital changes $1,525 $1,753 For complete details please refer to the Financial Statements and associated Management Discussion and Analysis for the quarter ended March 31, 2025, available on SEDAR+ ( Asset Updates Greenstone (1.26% Gold Stream) Attributable production from the Greenstone gold mine totaled 1,050 GEOs in Q1 2025. Operations continue to ramp up to full capacity with Equinox Gold expecting to achieve design recovery rates at the processing plant by mid-2025 following various optimization and improvement efforts. Versamet is entitled to monthly deliveries equal to the greater of 1.26% of produced gold or 350 ounces. Kolpa (95.8% Copper Stream) On May 1, 2025, Endeavour Silver ("Endeavour") completed the acquisition of Kolpa, a silver-focused polymetallic mine located in Peru that has been operation for over 25 years. In 2024, Kolpa produced approximately 2.0 million ounces of silver, 19,820 tonnes of lead, 12,554 tonnes of zinc and 518 tonnes of copper. Permitting is in progress to expand the operation from 1,800 tonnes per day to 2,500 tonnes per day. Blackwater (0.21% NSR) On May 2, 2025, Artemis Gold ("Artemis") announced that it had achieved commercial production at its Blackwater mine in BC and provided guidance of 160,000 to 200,000 ounces of gold production for 2025. Artemis also noted a potential acceleration of the proposed phase 2 expansion, which is anticipated to increase Blackwater's average annual production to over 500,000 GEOs per year. Kiaka (2.7% NSR) On May 12, 2025, West African Resources ("West African") provided an update on development activities at Kiaka highlighting that construction remains on schedule with the crushing circuit complete and operational, and commissioning of the wet plant underway. Mining activities are ramping up ahead of the scheduled commencement of process plant operations and first gold pour expected in Q3 of this year. West African is forecasting production of 100,000 to 150,000 ounces of gold from Kiaka in 2025. Toega (2.7% NSR) On April 17, 2025, West African provided an update on development activities at Toega highlighting that construction of the ore haul road from Toega to Sanbrado having commenced in the first quarter. Development remains on schedule with the start of pre-strip mining of the open pit expected in the fourth quarter of 2025. Also during the first quarter, West African announced a maiden underground mineral resource and scoping study for a potential underground development beneath the Toega open pit, which is expected to begin producing in 2026. The maiden underground inferred mineral resource estimate includes 4.9 million tonnes at a grade of 3.5 grams per tonne containing 560,000 ounces of gold with the deposit remaining open at depth. The underground scoping study outlined the potential to produce an additional 515,000 ounces of gold over a 7-year mine life. Toega underground production is incremental to the pre-existing 8-year open pit mine life outlined in West African's latest 10-year mine plan. An updated 10-year mine plan is expected later this year which will integrate the open pit and underground resources into a single operation.1 1 For more information, please refer to West African's news release dated March 18, 2025, titled "Toega Maiden Underground Resource and Scoping Study" available on West African's website at About Versamet Royalties Corporation Versamet is an emerging gold-copper royalty & streaming investment focused on creating long-term per share value for its shareholders through the acquisition of high-quality assets. Versamet common shares trade on the TSX Venture Exchange under the symbol "VMET". For more information about Versamet, including additional details on our royalties and streams, please visit our website at General inquiries:Craig Rollins, General CounselEmail: info@ 778-945-3948 Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Qualified Person The scientific and technical information contained in this news release has been reviewed and approved by Diego Airo, Vice President of Evaluations for Versamet and a member of the Association of Professional Engineers and Geoscientists of the Province of British Columbia. Mr. Airo is a Qualified Person as defined in the National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Non-IFRS Measures Versamet uses certain performance measures in its analysis. These non-GAAP performance measures are included in this document because these statistics are key performance measures that management uses to monitor performance to assess how Versamet is performing. These performance measures do not have a standard meaning within IFRS and, therefore, amounts presented may not be comparable to similar data presented by other companies. Cautionary Note Regarding Forward-Looking Information This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to: the Company's ability to enhance market profile and broaden its investor base; continued momentum with additional upcoming catalysts noted; forecasted production to between 14,000 and 16,000 GEOs in 2026; and other statements regarding future plans, expectations, exploration potential, guidance, projections, objectives, estimates and forecasts (in general and in connection with respective asset updates), as well as our expectations with respect to such matters. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Versamet to control or predict, that may cause Versamet's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading "Risk Factors" in the Company's final non-offering long form prospectus dated May 12, 2025 available for review on the Company's profile at Such forward-looking information represents management's best judgment based on information currently available. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. To view the source version of this press release, please visit
Washington Post
08-05-2025
- Business
- Washington Post
Equinox Gold: Q1 Earnings Snapshot
VANCOUVER, British Columbia — VANCOUVER, British Columbia — Equinox Gold Corp. (EQX) on Wednesday reported a loss of $75.5 million in its first quarter. On a per-share basis, the Vancouver, British Columbia-based company said it had a loss of 17 cents. Losses, adjusted for non-recurring costs, came to 8 cents per share.
Bloomberg
24-04-2025
- Business
- Bloomberg
Calibre Mining Shares Hit 13-Year High After Equinox Sweetens Takeover Offer
Calibre Mining Corp. shares jumped to their highest price in 13 years after Equinox Gold Corp. sweetened its takeover offer for the Canadian gold producer hours before investors were to vote on the deal. Shares of the Vancouver-based firm rose as much as 7.4% to C$3.36 in Toronto on Thursday, edging past the value of Equinox Gold's revised all-stock offer that was announced in a Wednesday evening statement. Equinox Gold rose as much as 2.8%.
Yahoo
14-04-2025
- Business
- Yahoo
Calibre Delivers 71,539 Ounces in Q1 2025, a Record First Quarter Production; Provides Valentine Gold Mine Update
VANCOUVER, British Columbia, April 14, 2025 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the "Company" or "Calibre") is pleased to announce operating results for the three months ('Q1') ended March 31, 2025, and an update on the Valentine Gold Mine ('Valentine'), located in Newfoundland & Labrador, Canada. All figures are expressed in U.S. dollars unless otherwise stated. Darren Hall, President and Chief Executive Officer of Calibre, stated: 'I am extremely proud of our operations team for delivering another strong quarter, producing 71,539 ounces of gold in Q1 2025. Valentine Gold Mine continues to advance, with first ore processed now expected in early Q3, followed by a steady ramp up to nameplate capacity of 2.5 million tonnes. The delay in ore processing reflects scope growth in certain areas such as electrical cabling and actual contractor performance. Valentine is positioned to become a long-life, cornerstone asset in Canada, initially delivering approximately 200,000 ounces of gold annually with significant exploration upside. In February, we announced a merger with Equinox Gold to form a leading, Americas-focused gold producer. This merger marks a transformative milestone for both companies and will result in a diversified portfolio of operating mines across five countries anchored by Greenstone and Valentine, two high-quality, long life, low-cost, Canadian gold mines. Together, we will become Canada's second largest gold producer. At nameplate capacity, these Canadian assets are expected to produce approximately 590,000 gold ounces annually, creating significant value for Calibre shareholders and presenting a compelling re-rating opportunity. Calibre has built a solid track record of delivering on our commitments and driving shareholder value. I see a tremendous opportunity to integrate the two companies, build on this success, and strengthen trust and confidence across both shareholder bases. New Equinox Gold has the potential to exceed 1.2 million ounces of annual gold production with Greenstone and Valentine operating at capacity. Additionally, the combined company will benefit from a large gold endowment of Mineral Reserves and Mineral Resources, along with a robust pipeline of development, expansion, and exploration projects. This strong foundation supports low-risk sustainable growth and long-term value for shareholders.' Q1 2025 Highlights Consolidated gold production of 71,539 ounces; Nicaragua 64,469 ounces and Nevada 7,070 ounces, setting a solid foundation for the remainder of 2025; Cash of $214.5 million at March 31, 2025 ($177.4 million in cash and $37.1 million in restricted cash with the last $25 million restricted cash released from our debt proceeds account following quarter end); and Announced the merger of Calibre and Equinox Gold creating a major Americas-focused gold producer, with the combination enhancing diversification, scale, financial strength, and operational expertise positioning the combined company for long-term value creation. Key highlights include: Creation of a Canadian gold powerhouse with complimentary mines throughout the Americas, Enhanced critical mass and capital markets profile with improved significance for shareholders, Immediate increase in production and cash flow from a larger asset portfolio, Strengthened combined leadership team with a proven track record of value creation, Undervalued relative to peers with significant share price re-rate potential, and Strong balance sheet with ability to rapidly deleverage. Valentine Gold Mine Update Tailings Management Facility is complete; Structural steel is complete; Mass construction nearing completion; project is in process of transitioning to system/subsystem completion; Primary crusher installation complete and its commissioning is nearly complete; Mills motors and mill liners are installed, and pre-commissioning is underway; Conveyors are nearing completion, belting has been completed, and progressing toward pre-commissioning; CIL leaching tanks piping and electrical continue with scheduled completion at the end of Q2, and pre-commissioning to follow; Overland, coarse ore stockpile conveyor, reclaim tunnel, and apron feeder construction nearly complete and progressing toward pre-commissioning; ADR plant and gravity circuit mechanically complete and have been turned over to pre-commissioning; Cable tray, cable installation, and terminations progressing; Commencement of ore processing now expected in early Q3, reflecting minor scope growth in certain areas such as electrical cabling and current contractor performance; Initial project capital remains fully funded; and Program management contract awarded in February 2025 for Phase 2 expansion targeting an increase in the process plant throughput to >5 Mtpa. Valentine Gold Mine Construction Progress Photos Stockpile Feed Conveyor – March 2025 Main Plant/Grinding Building – February 2025 SAG and Ball Mill - April 2025 Q1 2025 Conference Call Details Date: Thursday, May 8, 2025 Time: 10:00 am ET Webcast link: Instructions for obtaining conference call dial-in number: All parties must register at the link below to participate in Calibre's Q1 2025 Conference Call. To register click and complete the online registration form. Once registered, registered participants will receive the dial-in numbers and PIN number for input at the time of the call. The live webcast and registration link can also be accessed at under the Events section under the Investors tab. The live audio webcast will be archived and available for replay for 12 months after the event at Presentation slides that will accompany the conference call will be made available in the Investors section of the Calibre website under Presentations prior to the conference call. Qualified PersonThe scientific and technical information contained in this news release was approved by David Schonfeldt Calibre's Corporate Chief Geologist and a "Qualified Person" under National Instrument 43-101. About CalibreCalibre (TSX: CXB) is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland & Labrador in Canada, Nevada and Washington in the USA, and Nicaragua. Calibre is focused on delivering sustainable value for shareholders, local communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities Calibre will unlock significant value. ON BEHALF OF THE BOARD 'Darren Hall' Darren Hall, President & Chief Executive Officer For further information, please contact: Ryan KingSVP Corporate Development & IRT: 604.628.1012E: calibre@ Calibre's head office is located at Suite 1560, 200 Burrard St., Vancouver, British Columbia, V6C 3L6. YouTube / Instagram / LinkedIn / Facebook / X The Toronto Stock Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this news release. This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that Calibre Mining Corp. ('Calibre') expects to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", 'create', 'enhance', 'improve', 'upside', 'growth', 'assume', "intend", 'strategy', 'goal', 'objective', 'possible', or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. Forward-looking statements in this news release include, but are not limited to, the Company's ability to achieve gold production, cost, development and exploration expectations for its operations and projects; the success and timing of completing construction of the Valentine Gold Mine ('Valentine'), its production and operating capabilities and the upside potential of Valentine; additional exploration success at Valentine; the initial project costs to complete Valentine; the phase two expansion project at Valentine proceeding in accordance with current expectations; the Company's reinvestment into its existing portfolio of properties for further exploration and growth; statements relating to the Company's priority resource expansion opportunities; statements regarding expectations for the combined entity ("New Equinox Gold") resulting from the business combination (the 'Transaction') of Calibre and Equinox Gold Corp. ('Equinox') post-closing; the consummation and timing of the Transaction; the strategic vision for New Equinox Gold following the closing of the Transaction and expectations regarding exploration potential, production capabilities and future financial or operating performance of New Equinox Gold post-closing, including investment returns and share price performance; 2025 production and cost guidance; the potential valuation of New Equinox Gold following the closing of the Transaction; the accuracy of the pro forma financial position and outlook of New Equinox Gold following the closing of the Transaction; the success of the new management team; the conversion of Mineral Resource and Mineral Reserves; the success of Equinox and Calibre in combining operations upon closing of the Transaction; the potential of New Equinox Gold to meet production guidance, industry targets, public profile and expectations; and future plans, projections, objectives, estimates and forecasts and the timing related thereto. Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond Calibre's control. For a listing of risk factors applicable to the Company, please refer to Calibre's annual information form, its audited consolidated financial statements and its management discussion and analysis for the year ended December 31, 2024, and other disclosure documents of the Company filed on the Company's SEDAR+ profile at Calibre's forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. Calibre does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, undue reliance should not be placed on forward-looking statements. Photos accompanying this announcement are available at: in to access your portfolio
