Company Profile
Equinox Gold
Company Overview
Equinox Gold is a growth-focused gold producer with seven operating mines and a clear plan to increase production by advancing a pipeline of growth projects.
Castle Mountain is an open-pit heap leach gold mine located in California, USA, approximately 200 miles north of our Mesquite Mine and 60 miles south of Las Vegas, Nevada.
Company History
Equinox Gold acquired Castle Mountain in December 2017 and completed a pre-feasibility study in 2018 with the intention of restarting operations. The pre-feasibility study outlined a two-phase development plan, with annual average gold production of approximately 30,000 ounces during Phase 1 using existing operating permits, and a Phase 2 expansion to more than 200,000 ounces of gold per year.
Phase 1 construction activities commenced in October 2019 and commercial production was achieved in November 2020. The Castle Mountain team won Equinox Gold’s 2020 Chairman’s Safety Award for completing construction with no lost-time injuries. Phase 1 processes primarily stockpiled ore from previous operations and is essentially a small-scale pilot plant for the planned Phase 2 expansion. Permitting for the Phase 2 expansion commenced in March 2022; the permitting process and Phase 2 construction are anticipated to require four years.
Production at Castle Mountain in 2023 is forecast at 25,000 to 30,000 ounces of gold with all-in sustaining costs between $1,865 to $1,950 per ounce of gold sold. Costs at Castle Mountain remain elevated in 2023 as a result of the transition to crushing and agglomerating all ore
to increase ore permeability and gold production. A portion of the ore under leach continues to be run-of-mine but will gradually transition to all crushed as crusher throughput is improved. Sustaining capital of $2 million is primarily for equipment upgrades. Non-sustaining capital of $11 million is primarily for Phase 2 optimization studies, metallurgical test work and permitting.
Benefits
Bonus Program, EAP, Vanpool services