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Equinox Gold (NYSE:EQX) +4.9% in Tuesday’s trading after saying it achieved commercial production at its Santa Luz gold mine in Brazil.
The miner said the Santa Luz mill is operating at ~90% of design capacity of 7,400 metric tons/day, with recoveries consistently above 70% and as high as 85%, and 23K oz of gold were produced as of September 30, with output expected to continue to increase through Q4.
Santa Luz is Equinox’s (EQX) fourth operating mine in Brazil and “represents 100K oz of average annual production with mine life extension potential,” the company said.
Equinox Gold (EQX) owns several quality properties but shares have become cheap during the recent gold selloff, Don Durrett writes in an analysis published recently on Seeking Alpha.
