Equinox Gold falls on mining pause at Piaba pit after heavy rains
08/04/2024 15:15
** Shares of gold miner Equinox Gold EQX.TO down 2.7% to
C$8.31
** Co says persistent heavy rains in Maranhão, Brazil have
caused a displacement of material in two locations in the south
wall of the Piaba pit at its Aurizona mine
** Says access to the Piaba pit has been restricted and
mining has been paused while the company establishes an initial
remediation plan
** EQX adds that to mitigate any potential impact on planned
2024 production from the Piaba pit, it expects to accelerate
mining activities at its Tatajuba pit
** Co says there were no injuries, no damage to equipment or
infrastructure, and no environmental damage after the incident
** Including sessions move, shares up ~29% YTD
(Reporting by Tanay Dhumal in Bengaluru)
((Tanay.Dhumal@thomsonreuters.com;
Twitter: https://twitter.com/TanayDhumal))