11:11 AM EDT, 04/09/2024 (MT Newswires) -- National Bank of Canada on Tuesday noted Equinox Gold's ( EQX ) commissioning progress at the Greenstone project in Ontario.

Equinox said ore was introduced into the grinding circuit on April 6, with the first gold pour expected in May.

The company also noted that over 1.5 million tonnes of ore has been stockpiled, with 70,000 tonnes of lowgrade ore pre-crushed for early commissioning feed. Higher-grade ore will be introduced to the mill as commissioning ramps up.

Commercial production remains on track for the third quarter, with guidance calling for 2024 gold production of 105,000 to 125,000 ounces.

National Bank gave Equinox a sector perform rating with a $11.50 price target.

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