Why did EQX's earnings improve in late 2024?

Equinox Gold's earnings improved significantly in late 2024 due to several key factors: 1. **Record Gold Production**: The company achieved record quarterly gold production of approximately 214,000 ounces in Q4 2024, marking the highest in its history. This increase in production directly contributed to higher revenues. 2. **Strategic Mine Consolidations**: Equinox Gold successfully consolidated ownership of the Greenstone mine, achieving commercial production in November 2024. The Greenstone mine contributed significantly to the company's output, producing 53,002 ounces in Q4 with an All-in Sustaining Cost (AISC) of $1,141 per ounce. 3. **Revenue Growth**: Despite missing EPS forecasts, the company's revenue exceeded expectations, coming in at $575 million compared to the anticipated $534.42 million. This growth was driven by increased gold sales, which totaled 218,000 ounces. 4. **Cost Management**: The company reported a substantial increase in EBITDA for Q4 2024, reaching $185 million, which is a significant improvement over previous quarters. This was achieved despite higher cash costs per ounce and all-in sustaining costs per ounce. 5. **Debt Reduction**: Equinox Gold retired $180 million in debt in 2024, which improved the company's financial position and contributed to better earnings. In summary, Equinox Gold's earnings improvement in late 2024 was driven by record gold production, strategic mine consolidations, revenue growth, cost management, and debt reduction. These factors collectively contributed to the company's financial success in the period.