Equinox Gold team completes hospital-fundraising cycling trip across Canada

The Ride to Greenstone was also completed in celebration of the Greenstone’s Mine’s first gold pour

Rowan Dunne

Published

August 28, 2024

A team of cyclists from Equinox Gold Corp. (TSE: EQX) (NYSEAMERICAN: EQX) just completed a lengthy trip across Canada, reaching their final stop at the company’s Greenstone Mine in Ontario. The ride started in Vancouver.

Now that their 3,600-kilometre journey has concluded, they will be providing a C$1.3 million dollar cheque they brought with them to the local Geraldton District Hospital. The cycling team was comprised of company employees from Canada, California, Mexico and Brazil.

The other purpose of this trip, which started Aug. 5, was to celebrate the Greenstone Mine’s first-ever gold pour in May. This operation is expected to enter the commercial production phase this quarter. Its official grand opening ceremony is being held Thursday.

“We appreciate the generosity of our many stakeholders who supported the ride with donations,” Equinox Gold Chair Ross Beaty said.

Sponsors of the celebratory/fundraising initiative included the World Gold Council, Franco-Nevada Corp (TSE: FNV), Orion Resource Partners, Sandstorm Gold Ltd (TSE: SSL) and many others.

A huge thank you to all of our sponsors for their generous donation to the Geraldton District Hospital in support of the Ride to Greenstone! Your contribution ensures the hospital can continue providing life-saving care to communities surrounding the Greenstone Mine. pic.twitter.com/K3Qx3K4oUG

— Equinox Gold Corp. (@EquinoxGoldCorp) July 22, 2024

Greenstone to be ‘Cornerstone Asset’

Equinox says the mine will add over 400,000 gold ounces to the company’s annual production yield for 14 years or more. The large-scale project holds about 2.6 million ounces of measured and indicated resources.

It is one of Canada’s most promising new gold assets that will be entering the commercial production phase in the near future. Newfoundland’s Valentine Mine held by Calibre Mining Corp (TSE: CXB) (OTCMKTS: CXBMF) is another.

Optimism surrounding these and other projects is quite high at the moment considering the historic value of gold. It is currently worth over C$3,375 per ounce.

Gold-producing assets held by Equinox in other parts of the world include the Aurizona Mine in Brazil, the Castle Mountain Mine in California and the Los Filos operation in Mexico. Equinox Gold is currently worth about C$3.1 billion.