Equinox Gold (NYSE: EQX) (EQX.TO) reviewed 12-04-2020
Market Cap: $2.436 Billion (USD) Share Price: $10.10 (USD)
Shares outstanding: 241,249,679; Diluted: 244,066,116
Cash: $310.7 M (USD) as of 30 Sept 2020
Debt: $232.4 M (USD) as of 30 Sept 2020
Credit facility: $400 Million ($180 Million drawn).
Current operations: Yes
Insiders: 16.8% 234 institutions own approx. 45%.
CEO: Christian Milau HQs: Vancouver, BC, Canada
Operates seven mines in the US (Mesquite and Castle Mountain), Mexico (Los Filos), and Brazil (Aurizona, Fazenda, RDM, Pilar, with Santa Luz to start 1Q2022)
- Produced 124,867 oz. gold.
- Net income of $11.8 Million or $0.05 per share on revenue of $244.45 Million.
- Adjusted income $39.3 Million or $0.16 per share.
- AISC (stated) $1035, cash costs $866 per ounce.
- Repaid $200 Million of revolving credit facility.
- Castle Mountain (California) Phase 1 complete and achieved the first gold pour on 15 Oct.
- All mines operating with exception of Los Filos (Mexico) due to a community blockade as of 3 Sept.
- The company withdrew 2020 guidance due to the stoppage at Los Filos. Otherwise, total production was estimated to be 425,000-465,000 oz /Gold for 2020.
- Led by the inimitable Ross Beaty, Chairman, Equinox Gold is, over the long run, as close to a sure payoff to Gold investors as one can get. Need I say more?
- No personal holding, but that is my omission.
- The current price ($10.10 USD) is about right for a +33% gain in the next 4-6 months.