Equinox (EQX) Hits New High as Firm Kicks Off Processing at Large Mine Site

We recently published 10 Stocks Skyrocket While Wall Street Sinks; 5 Quietly Hit New Record Highs. Equinox Gold Corp. (NYSEAmerican:EQX) is one of the top performers on Friday.

Equinox Gold rallied for a second day on Friday, hitting a new all-time high, as investors cheered the official start of its ore processing at one of its largest gold mining sites in Canada.

During the session, Equinox Gold Corp. (NYSEAmerican:EQX) jumped to its highest price of $8.76, also marking a second straight day of rally.

This followed announcements on Thursday that it began processing of ore at its Valentine Gold Mine in Newfoundland and Labrador—a new site with the capability of producing 2.5 million tons of gold annually.

Equinox Gold Corp. (NYSEAmerican:EQX) said it expects to pour the first batch of gold by next month.

Upon full operations, the Valentine Gold Mine is targeted to produce between 175,000 and 200,000 ounces of gold annually over the first 12 years of its 14-year reserve life.

Additionally, the company announced targets of reaching the maximum production capacity of its Greenstone Gold Mine in northern Ontario by the second quarter of the year.

“Equinox Gold is entering a pivotal phase of growth, with production and cash flow expected to increase meaningfully as Valentine ramps up and Greenstone approaches nameplate capacity,” said CEO Darren Hall.

While we acknowledge the potential of EQX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.