Equinox Gold (TSX: EQX) has achieved a major milestone, with the company this morning officially declaring commercial production at their new Valentine Gold Mine. The designation marks a second cornerstone asset within their portfolio now hitting fully operation.
The designation follows the processing plant at the mine averaging 5,451 tonnes per day for the last 60 days, which represents 80% of the nameplate capacity of the operation of 6,850 tonnes per day. Gold recoveries at the same time are said to have averaged over 93% on lower grade commissioning feed, which has averaged 1.2 g/t gold.
The mine meanwhile is expected to achieve the higher end of the previously provided Q4 production range of 15,000 to 30,000 ounces of gold. Nameplate capacity is expected to be achieved by the second quarter of 2026, setting the new mine up to produce between 150,000 and 200,000 ounces of gold next year.
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Phase two studies meanwhile are said to be in the process of being advanced. The effort would see mill throughput increased to 5 million tonnes a year, versus the current 2.5 million tonnes.
“Achieving commercial production at Valentine marks an important milestone as we expand our Canadian operations. The operation is performing well, with plant availability, throughput, and recoveries exceeding commissioning period expectations. I’m incredibly proud of the team for responsibly and efficiently ramping up production ahead of schedule,” commented Darren Hall, CEO of Equinox Gold.
Equinox Gold last traded at $17.49 on the TSX.
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