Equinox Gold Delivers Record 922,827 Ounces, $1.34B EBITDA and $1.1B Debt Cut
Equinox Gold produced 922,827 ounces of gold in 2025, generating $2.71 billion revenue, $1.34 billion adjusted EBITDA, reducing debt by $1.1 billion and initiating a $0.015 quarterly dividend. In 2026, it guides 700,000–800,000 ounces, aims to eliminate $75 million net debt and advances Phase 2 Valentine and Castle Mountain expansions plus an AI-driven discovery.
1. Record 2025 Production And Financial Performance
Equinox Gold achieved record production of 922,827 ounces in 2025, yielding $2.71 billion in revenue at an average realized gold price of $3,465 per ounce. The company generated $1.34 billion in adjusted EBITDA, cut debt by $1.1 billion since mid-2025 and launched its inaugural $0.015 per share quarterly dividend.
2. 2026 Guidance And Debt Strategy
For 2026, Equinox Gold forecasts gold output of 700,000–800,000 ounces and expects cash flow to eliminate its remaining $75 million net debt within the year. Management prioritizes free cash flow generation and debt elimination as key drivers for financial flexibility and shareholder returns.
3. Growth Projects And Exploration
Equinox Gold is progressing a Phase 2 expansion at the Valentine mine and advancing the Castle Mountain expansion to boost production capacity. The company is also testing an AI-driven exploration model near the Valentine mill, targeting potential additions of 400,000–500,000 ounces of annual organic output over the next five years.