Equinox Gold Corp.
For the period ended Dec 31, 2025. Filed Mar 31, 2026.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2025 · Filed Mar 31, 2026
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Contents
EX-99.2 · Recent Developments
RECENT DEVELOPMENTS
Provided 2026 production and cost guidance of 700,000 to 800,000 ounces of gold, at cash costs of $1,425 to $1,525 per ounce and AISC of $1,775 to $1,875 per ounce(1). Guidance does not include production from the Brazil Operations and the Castle Mountain and Los Filos development projects.
Provided 2026 expenditure guidance of $325 to $375 million for growth capital, $70 to $80 million for exploration and $80 to $90 million of corporate general and administrative expenditures
On January 23, 2026, completed the Brazil Sale Transaction and received cash proceeds of $891.1 million
On January 23, 2026, fully repaid the $500 million Term Loan and paid $300.4 million to extinguish the Sprott Loan and related obligations, reducing the Company’s senior debt to approximately $580 million.
On January 30, 2026, made a payment of $115.0 million of the outstanding principal under the Revolving Facility. There was $335.0 million available to the Company to be drawn on the Revolving Facility after this payment.
In February 2026, the Company sold its 9.7 million common shares held on a post-consolidation basis for gross proceeds of C$56.1 million ($41.1 million).
On February 18, 2026, the Company declared a quarterly cash dividend of $— per common share, which is payable on March 26, 2026 to shareholders of record as of March 12, 2026. On February 18, 2026, the Board of Directors approved the implementation of a normal course issuer bid, subject to TSX approval, to purchase for cancellation up to 5% of the Company’s outstanding shares.
(1) Cash costs per oz sold, AISC per oz sold, adjusted EBITDA, adjusted net income, adjusted EPS and sustaining expenditures are non-IFRS measures. See Non-IFRS Measures and Cautionary Notes.
(2) Total recordable injury frequency rate (“TRIFR”) and significant environmental incident frequency rate (“SEIFR”) are both reported per million hours worked. TRIFR is the total number of injuries excluding those requiring simple first aid treatment.
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