Equinox Gold Corp. (NYSE:EQX) Q3 2022 Earnings Conference Call November 3, 2022 10:30 AM ET

Company Participants

Rhylin Bailie - Vice President of Investor Relations

Greg Smith - Chief Executive Officer

Peter Hardie - Chief Financial Officer

Doug Reddy - Chief Operating Officer

Conference Call Participants

Dalton Baretto - Canaccord Genuity

Wayne Lam - RBC

Mike Parkin - National Bank

Anita Soni - CIBC World Markets

Operator

Thank you for standing by, this is the conference operator. Welcome to the Equinox Gold Third Quarter 2022 Results and Corporate Update. [Operator Instructions] The conference is being recorded. [Operator Instructions]

I would now like to turn the conference over to Rhylin Bailie, Vice President, Investor Relations for Equinox. Please go ahead.

Rhylin Bailie

Thank you, operator and thank you, everybody, for joining us this morning. We will, of course, be making a number of forward-looking statements today. So please visit our website and our other continuous disclosure documents on SEDAR and on EDGAR to read all of those cautionary notes.

I will now turn the call over to our CEO and President, Greg Smith.

Greg Smith

Thanks, Rhylin and thanks, everyone, for joining us today. On the call with me is our COO, Doug Reddy; our CFO, Peter Hardie; and our EVP of Exploration, Scott Heffernan; and of course, our VP of Investor Relations, Rhylin Bailie.

I know most of you on the call are familiar with the company. But for those that aren't, Equinox is a diversified Americas-focused gold producer and with our Santa Luz mine now in commercial production, we have 7 producing mines and 4 growth projects, including our large scale Greenstone joint venture projects in Ontario which is in construction now. Just a reminder, we announced the CEO change in August and so this is my first quarterly call since taking on the role in early September. I'll start with a broad overview for the quarter and then turn the call over to Pete and Doug for more details.

We expected increase in gold production through the year. And during the third quarter, we did see a meaningful increase with production of over 143,000 ounces of gold which is a 19% increase from Q2 and a 22% increase from Q1. That said, we also experienced some operating challenges at our Los Filos and Aurizona mines and a slow start at Santa Luz that impacted production. This, in addition to inflationary cost pressures and an inventory write-down of Los Filos, resulted in lower production and higher costs than we had planned. With consolidated cash costs in the third quarter of $1,400 per ounce and all-in sustaining costs of $1,749 per ounce.