As part of its updated production and cost forecast for the 2022 fiscal year, Equinoxe Gold announced today that the company produced 120,813 ounces of gold. This is a slight loss compared to the second quarter of 2021 which is at 122,656 ounces.

In the second quarter of 2022, mining profits took a hit from the deterioration in gold production. Operating costs are now higher due to the increase in oil prices. Also, Equinoxe Gold has taken a $78.7 million discount due to lower mining profits. The company also announced that it suffered losses due to the decline on "the change in fair value of warrants from a gain in the comparative period of 2021".

The company informs that there is an adjusted net loss of $0.8 million that was affected compared to the 2021 period. CEO Christian Milau says that despite the challenges, they expect "improved performance with increased production and reduced costs in the second half of the year."