Equinox Gold Corp.

Equinox and Orla Mining completed their business combination. The headline says the combined company is expected to produce 1.1 million oz of gold a year, with a path to more than 1.9 million oz from North American growth projects. The text is cut off after 'Planned Chief Execu...' and the rest is only a cover and exhibit list. This closes the Orla deal that began with the May 2026 agreement.

business combination

Equinox shareholders approved the business combination with Orla Mining. The available text is only the cover and exhibit list, so the vote percentage is not shown. Approval clears the shareholder step ahead of the deal closing.

business combination

Equinox filed the arrangement agreement with Orla Mining Ltd., dated May 12, 2026, along with a material change report and voting and support agreements from Equinox shareholders, Orla shareholders, Fairfax and Pierre Lassonde. The excerpt shows only the table of contents and exhibit list, so the price and terms are not in this text.

business combination

Equinox's headline for its year-end release describes a 'strategic merger', record production and revenue, portfolio optimization, more than US$1.1 billion of debt reduction and the inaugural dividend. Only the title is available (the text is a cover and exhibit list), so the merger partner and the figures are not shown. The debt reduction is consistent with the Brazil sale paydown, though the filing does not say so.

business combination

Equinox announced its first-ever quarterly cash dividend of US$0.015 per common share and an application for a normal course issuer bid (a program to buy back its own shares). The available text is only the cover and exhibit list, so payment dates and buyback size are not shown. This is a first return of cash to shareholders in the history covered here.

security holder rights change

Equinox completed the sale of its Brazil operations for total cash of US$1.015 billion, used to repay more than US$800M of debt and cut net debt to US$150M. The filing text available is only the cover and exhibit list, so the buyer, the specific mines sold and other terms are not shown. It is an inference that this covers the Brazilian mines described earlier (Aurizona, Fazenda, RDM, Santa Luz). Debt falls sharply, but the company no longer holds those assets.

asset acquisition disposition

Equinox agreed to buy Orion's 40% of Greenstone for $995M, which would give it 100% of the mine, up from the 60% it held. Payment is 42.0M Equinox shares valued at $250M, $705M cash at closing and $40M cash by December 31, 2024. It will fund the cash with a new $500M three-year term loan and a bought-deal sale of 49,060,000 shares at $5.30 (about $260M). Shareholders are diluted and debt rises, in exchange for full ownership; closing is expected in Q2 2024. This follows the earlier Orion partnership and the Greenstone build, which the release says is in hot commissioning.

capital raising announcement

Equinox reported 2022 production of 532,319 oz of gold at all-in sustaining costs of $1,622/oz, down from 602,110 oz in 2021. The year ended with a net loss of $106.0M ($0.35 per share), although Q4 alone had net income of $22.6M. It guides 2023 output to 555,000-625,000 oz at $1,575-1,695/oz AISC and says Greenstone was 65% complete at year end, with first gold still targeted for the first half of 2024. Year-end net debt was $627.3M and cash $200.8M. The release also records that the $100M at-the-market share program had issued 6,651,017 shares at an average $3.75 for $24.9M, and that Equinox sold the 11M Solaris shares for $51.9M and a further 4.5M in January 2023 for $20.0M. Greg Smith succeeded Christian Milau as CEO on September 1, 2022.

production update

Equinox sold 11,000,000 Solaris Resources shares in block trades on the TSX for gross proceeds of C$70.4 million. It held 15,545,487 shares plus warrants for 7,500,000 more beforehand; its stake is now under 10% (including any warrant exercise), it is no longer a reporting insider, and it agreed not to sell remaining Solaris securities for 120 days. This continues the Solaris holding from the April 2021 sale of the Solaris-related asset; it is also a stake reduction from the roughly 17.8 million shares expected earlier. Equinox calls itself a supportive shareholder with no current plans for further changes.

asset acquisition disposition

Equinox released an updated feasibility study for expanding Los Filos in Mexico by adding a 10,000 tonne-per-day carbon-in-leach plant ($318 million initial capital). Proven and Probable reserves rose 44% to 5.4 million oz, mine life would be 14.5 years at 280,000 oz a year (360,000 oz a year in 2025-2030), and after-tax NPV (5%) is $625 million with 26% IRR at $1,675/oz gold. Equinox has not approved construction and says any decision will weigh regional stability, markets and cost of capital, while it focuses on Greenstone and Castle Mountain permitting. These are company projections, not a commitment to build.

resource reserve update

Equinox declared commercial production at Santa Luz in Brazil effective October 1, 2022, resolving the ramp-up that began with first gold on March 30, 2022. The mill is running at about 90% of its 7,400 tonnes-per-day design capacity, with about 23,000 oz of gold produced to September 30, 2022. That is below the 70,000-90,000 oz 2022 guidance range cited earlier, but the release does not restate guidance, so whether the range will be met is not stated.

production update

Equinox amended its bank credit facility: the revolving portion rises from $400 million to $700 million ($300 million drawn at end of Q2 2022, $100 million drawn in July 2022), and the remaining $73 million of the term loan was rolled into it, so no principal payments are due through mid-2026. It also adds a $100 million uncommitted accordion, lowers pricing by 0.25%-0.50%, and extends maturity to July 28, 2026 (with a possible further one-year extension). This revises the March 2020 $500 million package; interest is now based on Term SOFR plus 2.25%-3.50% rather than LIBOR plus 3.25%. The CFO ties it to focus on building Greenstone.

debt financing

Equinox received approval for the tailings storage facility raise at its RDM mine in Brazil, with the contractor mobilizing to start in early June. The company expects full operations to resume by mid-July and will update RDM guidance with Q2 disclosures in the first week of August. This follows the earlier February-March plant suspension over tailings water levels, and implies RDM is not at full operations now; the release does not give the production impact. It refers to a May 16, 2022 press release that is not in this filing.

regulatory community update

Equinox completed the sale of the Mercedes mine in Mexico to Bear Creek Mining, the deal announced December 17, 2021. It is receiving US$75 million now, a US$25 million deferred payment due within six months, a 2% net smelter return royalty and 24.73 million Bear Creek shares, which makes Equinox a significant Bear Creek shareholder. This closes the Mercedes thread, though the US$25 million is not yet received. The company now describes itself as having seven operating gold mines.

asset acquisition disposition

Equinox poured first gold at its new Santa Luz mine in Brazil, meeting the Q1 2022 first-pour target; the company says construction finished on time and on budget, and the mine should ramp up to commercial production over the next few months. Santa Luz is expected to produce 70,000-90,000 oz in 2022 and about 100,000 oz a year at capacity. The release also says RDM plant operations resumed March 14 after a suspension from February 26 to lower tailings dam water levels under a Brazilian legislative change, and that Greenstone first gold is targeted for the first half of 2024. It repeats that Mercedes is expected to be sold in April 2022.

production update

Equinox agreed to sell the Mercedes gold-silver mine in Mexico, which it gained in the April 2021 Premier acquisition, to Bear Creek Mining. Consideration is $100 million in cash ($75M at closing, $25M within six months), 24,730,000 Bear Creek shares valued at about $25 million on current trading prices, and a 2% net smelter return royalty on Mercedes production. The company says Mercedes is 5% of 2021 production guidance and 2% of resources, and that the cash strengthens the balance sheet as it focuses on larger projects including Greenstone. The sale needs regulatory approvals, including Mexican competition authority approval, and is expected to close in Q1 2022.

asset acquisition disposition

Equinox released a pre-feasibility study for expanding Aurizona in Brazil by adding an underground mine and satellite open pits, delivering the study targeted for late 2021 after the 2021 drilling. It projects an 11-year mine life, average output of 137,000 oz of gold a year (over 160,000 oz at peak in 2026 to 2029), and 1.5 million oz in total. Initial underground capital is $154 million, and the after-tax NPV (5%) is $314 million at $1,500/oz gold ($600 million at $1,800/oz). Proven and Probable reserves rose 73% to 1.7 million oz. These are company projections that depend on the assumed gold price.

resource reserve update

Equinox said the community blockade at its Los Filos mine in Mexico has been removed and regular operations have resumed in all areas of the mine. The release does not say when the blockade began, how it was resolved, or what it cost. It follows the Carrizalillo community agreement renewed in April 2021, but the filing does not say which community was involved (an inference from context only).

regulatory community update

Equinox sold the Pilar Gold Mine in Brazil, one of the Leagold assets acquired in March 2020, to private company Pilar Gold Inc. for $38 million in cash ($10.5M received at closing, $10M due by May 31, 2021, $17.5M due by July 31, 2021), plus a 9.9% stake in the buyer and a 1% royalty on Pilar production. Pilar was about 35,000 ounces, or 5%, of the 600,000-665,000 ounce 2021 guidance, which the company says will be updated in May to reflect this sale and the added Mercedes mine. Most of the cash is still to be received.

asset acquisition disposition

Equinox is starting development of the Bermejal underground mine at Los Filos in Mexico, one of three planned expansion projects there, with the contractor mobilizing over the coming weeks. Los Filos also signed an updated social collaboration agreement with the Carrizalillo community, similar to the prior one, running to April 2025. This resolves the Carrizalillo items left open after the November 2020 blockade ended.

regulatory community update

Equinox completed the Premier Gold Mines acquisition (announced December 2020), resolving the main open thread: Premier holders receive 0.1967 of an Equinox share plus 0.4 of an i-80 Gold share per Premier share. Equinox adds Premier's Hardrock interest (renamed the Greenstone Project), the Mercedes Mine and the Hasaga and Rahill-Bonanza properties, and holds 30% of the newly created i-80 Gold; Equinox shareholders do not receive i-80 shares. The C$75 million subscription-receipt financing at C$10.00 also closed, with executives and directors taking C$40.4 million, and each receipt converts to one Equinox share. The company now describes eight operating mines. Greenstone construction is targeted to start in 2021.

business combination

Equinox agreed to sell 10 million of its Solaris Resources shares at C$8.25 each (about C$82.5 million) to Augusta Investments and a strategic shareholder, and to grant the buyers 12-month warrants for 5 million more shares at C$10.00 (a further C$50 million if exercised, C$132.5 million in total). After the sale Equinox would hold 17,826,737 Solaris shares (about 16.9%), down from 27,826,737 (about 26%); it keeps its Solaris warrants. The CEO says the proceeds will strengthen the balance sheet; the sale is subject to customary closing conditions.

asset acquisition disposition

Equinox released the Phase 2 feasibility study for Castle Mountain, delivering the study that had been targeted for Q1 2021. At $1,500/oz gold it projects average output of 218,000 oz a year for 14 years, an after-tax NPV (5%) of $640M and an 18% IRR, with initial capital of $389M ($510M if the mining fleet is bought rather than leased). Proven and Probable reserves are 4.168 million oz. Phase 2 permitting is underway and construction is planned to take two years; the returns are company projections that depend on the assumed gold price.

resource reserve update

Equinox agreed with an affiliate of Orion Mine Finance to buy a further 10% of the Hardrock Project in Ontario for $51M at closing (up to $41M payable in Equinox shares at Equinox's option), plus contingent payments: $5M in cash 24 months after a positive construction decision, and about 2,200 ounces of gold (or cash equivalent) at each of three production milestones (250,000, 500,000 and 700,000 ounces). With the 50% coming from the pending Premier acquisition, this would lift Equinox to 60% and Orion to 40%. It depends on the Premier deal closing, which Premier shareholders approved on February 23, 2021 and which is expected in March 2021. This continues the Premier thread from December 2020.

business combination

Equinox agreed to buy all of Premier Gold Mines. Premier holders get 0.1967 of an Equinox share plus 0.4 of a share of i-80 Gold, a new US-focused spin-out holding Premier's Nevada properties, per Premier share. Equinox keeps Premier's interest in the Hardrock Project in Ontario (a 50% interest via a joint venture with Orion Mine Finance), the Mercedes Mine in Mexico, and the Hasaga and Rahill-Bonanza properties. After closing, existing Equinox holders would own about 84% of Equinox and Premier holders 16%, so current holders are diluted; Equinox would own 30% of i-80 Gold and has committed up to $22.5M to its financing. Equinox also plans a C$75M equity financing fully underwritten by Ross Beaty, priced later. Closing is expected in Q1 2021, subject to Premier shareholder, court, Mexican competition, TSX and NYSE American approvals, with a C$35M termination fee payable to Equinox under certain circumstances.

business combination

Equinox announced filing of the Santa Luz technical report and restated the November 9, 2020 decision by its board to start full construction at its 100%-owned Santa Luz mine, with a US$103 million construction budget. At a $1,500/oz gold price it expects 903,000 ounces over a 9.5-year mine life, an after-tax NPV (5%) of $305 million and a 58% IRR. First gold pour is targeted for Q1 2022. This turns the Santa Luz restart from a planned project into one under construction; the returns are company projections tied to the assumed gold price.

resource reserve update

Equinox declared commercial production at Castle Mountain on November 23, 2020, following the October first gold pour. It expects 5,000 to 10,000 ounces in 2020 and about 40,000 ounces a year in Phase 1. It is reviewing a Phase 2 expansion that could lift output to about 200,000 ounces a year, with a feasibility study targeted for Q1 2021. This completes the construction thread and opens a Phase 2 thread.

production update

Equinox says the community blockade at its Los Filos mine in Mexico (acquired with Leagold) has been removed and access restored. The mine has begun a staged restart aiming for full operations in December, with workers returning only after negative COVID-19 tests. Talks continue on a few remaining items under the Carrizalillo social collaboration agreement, so the dispute is not fully settled. The filing does not state how long the blockade lasted.

regulatory community update

Equinox poured first gold at its Castle Mountain mine in California on October 15, 2020, about 727 ounces of contained gold. The company says it was brought to production on time, on budget and with no lost-time injuries. This meets the Q3-2020 pour target set earlier only in part: the pour came in Q4, so it is slightly later than that target.

production update

Equinox updated reserves and resources at Aurizona and Mesquite. Aurizona reserves were essentially unchanged at 958,000 ounces of contained gold despite 2019 mining, and measured and indicated resources rose 22% to 844,000 ounces with a first resource at the Tatajuba deposit. The company also says Mesquite has a reserve mine life of more than two years plus residual leaching, with new mineralized dump material identified.

resource reserve update

Equinox released a preliminary study for a possible underground mine (Piaba) at its 100%-owned Aurizona mine in Brazil, which could add 740,500 ounces of gold over about ten years, with $69.7 million initial capital and $204 million after-tax net cash flow at $1,350/oz gold. It is an early-stage study that includes inferred resources, and the company says there is no certainty the results will be realized.

resource reserve update

Equinox filed documents for financing tied to the merger: a US$130,000,000 convertible debenture issued March 10, 2020 to MDC Industry Holding Company LLC, paying 4.75% interest and maturing March 10, 2025. Also listed are a subscription agreement and a Second Amended and Restated Credit Agreement, both dated March 10, 2020. The debenture is convertible into Equinox common shares, which could dilute shareholders if converted. It sits alongside the 2019 convertible debentures. This appears to be part of the US$670 million merger financing, an inference from the dates.

debt financing

Equinox and Leagold completed their merger on March 10, 2020, and the company says it now has six producing mines, two development projects and two expansion projects. Leagold holders receive 0.331 of an Equinox share per share, and Leagold shares were expected to be delisted around March 11. The board and executive team were combined (Ross Beaty Executive Chair, Neil Woodyer Vice Chair, Christian Milau CEO), and concurrent US$670 million debt and equity financings were completed. This completes the deal agreed in December 2019.

business combination

Shareholders of both Equinox (99.88% of votes cast) and Leagold (99.73%) approved the merger on January 28, 2020, including a separate disinterested-shareholder vote (99.59%) on a private placement to chairman Ross Beaty. Leagold holders will receive 0.331 of an Equinox share per Leagold share, leaving existing Equinox and Leagold holders with about 55% and 45% of the merged company; closing was expected in February subject to regulatory approvals.

business combination

Equinox Gold signed an arrangement agreement dated December 15, 2019 to merge with Leagold Mining Corporation, with Equinox issuing shares to Leagold shareholders. The agreement lists Equinox's properties as the Mesquite and Aurizona gold mines and the Castle Mountain project, and requires approval by Equinox shareholders, Leagold securityholders and the court. Key shareholders including Richard Warke and Sandstorm Gold agreed to vote in favour.

business combination