Equinox Gold’s (TSX:EQX) Greenstone Mine in Ontario reached commercial production as of October, marking a significant milestone for the company as it continues ramping up operations at the site.
During Q3 2024, the Greenstone Mine processed an average of 14,300 tonnes per day (tpd), achieving 53 per cent of its design throughput.
The mine produced 42,400 ounces of gold at an average recovery rate of 79 per cent, with cash costs reported at US$930 per ounce. Notably, the quarter included three multi-day shutdowns to address operational issues identified during the ramp-up phase.
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Commodity prices
As of the time of this writing Tuesday, the price of gold sits at US$2,597.80 per ounce, according to data from Kitco.com.
This week in gold
- Opawica Explorations (TSXV: OPW) is set to launch a significant drilling program at its Bazooka Property in the prolific Abitibi gold camp in Quebec.
- Snowline Gold (TSXV:SGD) reveals results from its 2024 drilling campaign at the Valley deposit on the Rogue Project in Yukon, along with regional exploration updates from its Cynthia Project.
- Astra Exploration (TSXV:ASTR) has closed a non-brokered private placement for just under C$2 million, including participation from respected active mining investor Michael Gentile.
Top six trending gold stocks
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(Top photo: Adobe Stock)