Morning Briefing: Equinox Gold See Q2 Improvements at Greenstone
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Thursday, August 14th
As the dollar teetered along critical trend support yesterday, gold saw a slight increase on its front month contract. It added about $9 yesterday, closing at $3,408 an ounce. It is little changed this morning at time of recording. Attention will be given to tomorrow’s meeting between US President Trump and Russian President Vladimir Putin in Alaska. Trump warned Russia would face severe consequences if Putin refused to end the Ukraine war. Elsewhere, the administration continues to jockey for deep rate cuts from the Federal Reserve. Treasury Secretary Scott Bessent did a round of media interviews yesterday where I called for a cut of 150 basis points or more by year end.
We’ll get to the news from the miners and explorers here in a moment, but first a quick word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by…Equinox Gold.
Equinox has recently completed the business combination with Calibre Mining to create an Americas-focused diversified gold producer with a portfolio of mines in five countries, anchored by two high-profile, long-life Canadian gold mines, Greenstone and Valentine. Learn more about the business and its operations at equinoxgold.com
And here’s what you need to know this morning…..
Equinox Gold reported their Q2 financial and operating results last night. The company said mining rates at Greenstone increased 23% and processing rates improved 20% over Q1. The company produced 219,122 ounces of gold in total with an all-in sustaining cost of $1,959, which is an approximate improvement of $100 off the previous quarter’s ASIC. The company saw net income of $23.8M or 5 cents per share in Q2 with cash and equivalents reaching just over $400M at the end of June. The Valentine Gold Mine is entering the final stages of commissioning. Ore is expected to begin processing at the end of this month. (TSX: EQX) (NYSE American: EQX) News Release
Viscount Mining reported a new discovery at its Passiflora porphyry target in Silver Cliff, Colorado. The Company's first deep drill hole (PF-03A) intersected 843.9 metres of continuous copper-gold mineralization averaging 0.214% CuEq, including multiple higher-grade zones such as 189 m at 0.326% CuEq and 45 m at 0.417% CuEq. The hole was designed to test a very strong geophysical anomaly identified by Quantec Geoscience's Titan MT survey in 2023. The survey outlined a strong conductive target beginning at ~400 m and extending to at least 1,500 m depth and over 2km in horizontal distance. Drilling began in mid-January 2025 and concluded March 7, 2025 at a final depth of 1,144 m due to equipment challenges, short of the planned 1,500 m target. (TSXV: VML) (OTCQB: VLMGF) News Release
Mako Mining reported more drill results from the 2025 reverse circulation and diamond drill program at the El Golfo area within the El Jicaro concession located immediately south of the company's 100% owned Las Conchitas and San Albino Gold deposits in Nicaragua. Results included 197.80 g/t Au and 349.0 g/t Ag over 0.70 m, 27.86 g/t Au and 2.1 g/t Ag over 4.00 m and 77.70 g/t Au and 76.0 g/t Ag over 1.00 m. The drill program was initially designed for 3,000 metres (m) of RC drilling. It has since been expanded to 6,500 m of combined RC and diamond drilling in response to encouraging drill results. (TSXV:MKO) (OTCQX:MAKOF) News Release
Tocvan Ventures has received permit approval for the development of a 50,000-tonne pilot mine facility at its flagship Gran Pilar Gold-Silver Project in Sonora, Mexico. The approved pilot mine facility will allow Tocvan to process up to 50,000 tonnes of material, enabling the Company to test and optimize extraction methods while generating early cash flow potential. This permit complements the recently secured approvals for 45 drill pads and 67 trenches across the 100% controlled 21 km² expansion area, which support over 30,000 meters of drilling capacity to target high-grade gold and silver zones. Recent drilling successes, including 6.1 meters of 5.4 g/t Au and 39 g/t Ag within 41.2 meters of 1.0 g/t Au and 10 g/t Ag. (CSE:TOC) (OTCQB:TCVNF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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