(ABM FN-Dow Jones) Equinox Gold saw its results decline in the first quarter after less gold was produced and sold, although prices were higher. This was evident from company figures on Thursday.
Turnover increased from $234 million to $241 million. Although less gold was produced and sold last quarter than a year earlier, the gold was sold at a higher price.
However, operating costs also increased, leaving a bottom line loss of $42.8 million. A year earlier, Equinox made a profit of more than 17 million dollars. On an adjusted basis, the loss was $14.4 million, or $0.04 per share. This was compared to a loss of $0.03 a year earlier.
CEO Greg Smith spoke of a good start to the year.
For 2024, Equinox expects a production of 660,000 to 750,000 ounces of gold.
At the end of March, Equinox’s debt stood at $804 million. That was $733 million at the end of 2023 and $548 million in March 2023.
Source: ABM Financial News
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