Equinox Gold Reports Q3 Results; Transformational Combination Begins to Deliver

(TSX:EQX) Equinox Gold Corp. reported its financial and operating results for the third quarter of 2026. The company produced 237,019 ounces of gold and sold 248,484 ounces at an average realized gold price of $4,157 per ounce, generating record revenue of $1.0 billion. Q3 2026 production and sales included two months of attributable production from Musselwhite (Canada) and Camino Rojo (Mexico) following the closing of the business combination with Orla Mining Ltd. on July 31, 2026. Cash costs were $1,654 per ounce and all-in sustaining costs (AISC) were $2,091 per ounce of gold sold, representing a decrease of 9% and 4% respectively compared to Q2 2026. The company remains on track to meet the low end of its updated annual production guidance range of 870,000 to 920,000 ounces and the high end of the AISC guidance range of $1,900 to $2,000 per ounce. Adjusted EBITDA for the quarter was $533.0 million, up 49% from Q2 2026. Net income for the quarter was $62.5 million, or $0.06 per share, and adjusted net income was $199.3 million, or $0.19 per share. Cash flow from operations before changes in non-cash working capital was $291.7 million, and mine-site free cash flow before changes in working capital was $398.3 million. The company ended the quarter with $527.9 million of unrestricted cash and cash equivalents, net cash of $164.0 million (excluding 2023 convertible notes), and liquidity of $1.2 billion. During Q3 2026, Equinox Gold returned $35.3 million to shareholders through $9.0 million of share repurchases and $26.3 million of cash dividends. Year-to-date as of November 6, 2026, the company repurchased 2,370,200 shares for approximately $27.7 million and paid $50.0 million in dividends. The annual dividend was increased by 50% in August 2026 to $0.09 per share. On July 31, 2026, Darren Hall retired as Chief Executive Officer and Director, and Jason Simpson assumed the role of President and Chief Executive Officer on November 1, 2026. Greenstone produced 60,596 ounces in Q3 2026, Musselwhite produced 63,090 ounces (with 45,616 ounces attributable to Equinox Gold from July 31 to September 30), Valentine produced 34,719 ounces, Nicaragua operations produced 58,489 ounces, Camino Rojo produced 26,168 ounces (with 18,975 ounces attributable to Equinox Gold from July 31 to September 30), and Mesquite produced 17,116 ounces. The Valentine Phase 2 expansion was approved on August 5, 2026, with an initial capital budget of $436 million, including $54 million of contingency, and construction is expected to be completed in late 2028. South Railroad Project in Nevada commenced early works construction following receipt of the federal Record of Decision on August 14, 2026, with $180 million of the estimated $395 million initial capital committed and detailed engineering 71% complete at September 30, 2026. Subsequent to quarter end, all outstanding 2023 convertible notes with an aggregate principal amount of $172.5 million were converted into 28,475,117 common shares. The Board of Directors approved a quarterly dividend of $0.0225 per share to be paid on December 10, 2026 to shareholders of record at the close of business on November 25, 2026. The company expects to complete an internal corporate reorganization, including an amalgamation with certain wholly-owned subsidiaries, on or about January 1, 2027, with no expected impact on business, operations, or share capital.

Equinox Gold and Orla Mining Complete Business Combination, Creating North America’s New Senior Gold Producer

(TSX:EQX) Equinox Gold Corp. and Orla Mining Ltd. (TSX:OLA) announced the successful completion of their previously announced business combination, creating North America’s new senior gold producer. The combined company is expected to produce approximately 1.1 million ounces of gold annually, with a clear path to more than 1.9 million ounces as its high-quality North American growth projects are developed. Over 60% of production will come from three long-life mines in Canada. Ross Beaty has stepped down as Chairman of the Board and has been appointed Chairman Emeritus and Special Advisor to the Board, while Chuck Jeannes has been appointed incoming Chairman of the Board. Darren Hall will retire from Equinox Gold effective October 31, 2026, with Jason Simpson to assume the role of Chief Executive Officer after a three-month transition. Equinox Gold intends to cause Orla to delist the Orla shares from the Toronto Stock Exchange and NYSE American Stock Exchange, apply to cease to be a reporting issuer, and otherwise terminate its public company reporting requirements as soon as possible. The company projects consolidated 2026 guidance and additional proforma benefits of the Transaction will be provided when it reports its second quarter financial and operating results after market on Wednesday, August 5, 2026.