Equinox Gold Corp. produced 176,836 ounces of gold during the second quarter of 2026, a period capped by the July 31 completion of its business combination with Orla Mining. The transaction establishes the company as a new senior gold producer in North America with an updated 2026 consolidated production guidance of 870,000 to 920,000 ounces, and a pro-forma annual capacity of approximately 1.1 million ounces. Following the announcement, the stock closed at $14.50, up 7.41% on the day.

“With completion of the business combination with Orla Mining on July 31, we enter the second half of 2026 as North America’s new senior gold producer, with meaningfully greater production and cash flow, and one of the industry’s strongest organic growth profiles.”

— Darren Hall, CEO

The company’s board of directors has approved the Phase 2 expansion at the Valentine project in Newfoundland, Canada, with an initial capital budget of $436 million, including a $54 million contingency. The project aims to increase processing capacity to approximately 13,700 tonnes per day, or 5.0 million tonnes per annum, targeting average annual production of 223,000 ounces. Construction is expected to be completed in late 2028.

“The Board of Directors has approved construction of the Phase 2 expansion at Valentine, reflecting our confidence in the operation and our disciplined approach to investing in high-return organic growth.”

— Darren Hall, CEO

Alongside the expansion plans, Equinox Gold increased its quarterly dividend by 50% to $0.0225 per common share. The updated 2026 growth capital guidance now stands at $600 million to $650 million, a figure adjusted to include $50 million to $60 million for the Valentine expansion, as well as capital allocations for the South Railroad and Los Filos projects.

Operational performance during the second quarter included 64,656 ounces from Greenstone, 32,617 ounces from Valentine, 18,572 ounces from Mesquite, 59,476 ounces from Nicaragua, and 1,515 ounces from Castle Mountain. The company reported revenue of $769.8 million and adjusted EBITDA of $358.3 million for the quarter.

Equinox Gold anticipates a key permitting milestone in August 2026, with the receipt of a Federal Record of Decision for its South Railroad project in the United States.

Read the full announcement: Equinox Gold Delivers Strong Second Quarter Results; Increases 2026 Production Guidance Following Successful Completion of the Orla Mining Merger; Quarterly Dividend Increased by 50%