Equinox Projects 540,000 Ounces Annually From Canadian Mines
Equinox Gold Corp. unveiled a strong long-term production forecast on March 30, 2026, projecting an average of 540,000 ounces of gold annually for the next decade from its Canadian mines. The updated technical outlook combines output from its Greenstone Gold Mine in Ontario and its Valentine Gold Mine in Newfoundland & Labrador. This guidance is supported by a substantial resource base, with the company reporting 19 million ounces of gold in Mineral Reserves as of December 31, 2025.
To fuel this growth, Equinox has committed to a robust exploration budget of $70 to $80 million for 2026. CEO Darren Hall highlighted the Greenstone mine's potential, stating the immediate focus is to achieve a sustained milling capacity of 27,000 tonnes per day. At that rate, the mine is expected to average approximately 320,000 ounces of gold annually, establishing it as a "cornerstone asset" in a top-tier jurisdiction.
USD/CAD Rises for Sixth Day as Geopolitical Risk Fuels Dollar
The positive corporate outlook from Equinox contrasts with short-term pressure on the Canadian dollar. The USD/CAD currency pair extended its advance for a sixth consecutive day, a move attributed to a flight to safety that has bolstered the US Dollar. The strengthening greenback reflects a 'risk-off' environment spurred by geopolitical tensions, which typically weighs on commodity-linked currencies like the CAD.
A stronger US dollar creates complex dynamics for gold, which is priced in the currency. While it makes gold more expensive for holders of other currencies, the underlying geopolitical uncertainty also increases gold's appeal as a safe-haven asset. This dual-role places miners like Equinox at the center of conflicting macroeconomic forces.
Mine Expansions Underpin Long-Term Growth Strategy
Equinox's ambitious forecast is backed by specific expansion plans. At the Valentine mine, a planned Phase 2 expansion, targeted for completion in H2 2028, is expected to increase throughput to approximately 13,700 tonnes per day and boost average annual production to 223,000 ounces for the subsequent decade. The company also sees potential to extend the mine's life by developing a fourth open pit at the Frank Zone.
At Greenstone, opportunities for value creation include increasing mill throughput toward 30,000 tonnes per day and incorporating higher-grade underground resources into future mine plans. With 1.6 million ounces of Measured and Indicated Resources in the underground deposit, the company believes there is significant potential to enhance grades and extend the mine's operational life.
