All financial figures are in US dollars, unless otherwise indicated.Vancouver, British Columbia--(Newsfile Corp. - August 7, 2024) - Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ('Equinox Gold'
Vancouver, British Columbia-- - Equinox Gold Corp. is pleased to announce its second quarter 2024 summary financial and operating results. The Company's unaudited condensed consolidated interim financial statements and related management's discussion and analysis for the three and six months ended June 30, 2024 will be available for download on the Company's profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov/edgar and on the Company's website at www.equinoxgold.com.
Total recordable injury frequency rate and significant environmental incident frequency rate are both reported per million hours worked. TRIFR is the total number of injuries excluding those requiring simple first aid treatment.The Company closed the transaction on May 13, 2024, giving Equinox Gold 100% ownership of Greenstone.
Revenue was lower in Q2 2024 compared to Q2 2023 primarily due to a decrease in gold ounces sold, partially offset by a 19% increase in realized gold prices. The Company realized $2,328 per ounce sold in Q2 2024 generating $269.4 million in revenue, compared to $1,962 per ounce sold in Q2 2023, generating $271.6 million in revenue.
Cash costs per oz sold, AISC per oz sold, sustaining capital and non-sustaining capital are non-IFRS measures. See Non-IFRS Measures and Cautionary Notes. In May 2024, the Company fully consolidated ownership of Greenstone with the acquisition of the remaining 40% ownership interest from its former joint venture partner. The Company's previous production guidance for Greenstone reflected its former 60% joint venture ownership interest. To reflect the Company's now 100% ownership of the mine, 2024 Greenstone production and sustaining and non-sustaining expenditure guidance has been increased.
As a result of the impact of the geotechnical event, production guidance for 2024 has been reduced from 110,000 to 120,000 ounces of gold to 70,000 to 80,000 ounces of gold with cash costs of $1,450 to $1,550 per oz and AISC of $2,175 to $2,275 per oz. Updated projections of sustaining expenditures at Aurizona are $58 million in 2024, primarily relating to capitalized waste stripping.
Additional information regarding the Company's financial and operating results is available in the Company's Q2 2024 Financial Statements and accompanying MD&A for the three and six months ended June 30, 2024, which will be available for download on the Company's website at www.equinoxgold.com, on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar.
The following table provides a reconciliation of sustaining expenditures to the Company's total expenditures for continuing operations: The following table provides a reconciliation of mine-site free cash flow to the most directly comparable IFRS measure on an aggregate basis:
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