Equinox Gold Corp (NYSEAMERICAN:equalizer) is one of the stocks that could multiply by 10 in 2030. On May 13, Equinox Gold Corp (NYSEAMERICAN:EQX) announced plans to acquire Orla Mining in an all-stock deal. The acquisition will result in a combined North American gold producer worth $18.5 billion.
Gold ingots. Photo by Zlaťáky.cz on Pexels
The deal will also result in Canada’s second largest gold producer, capable of producing 1.1 million ounces of gold at six operating mines in Canada, the United States, Mexico and Nicaragua. Additionally, the combined company will maintain 22.7 million ounces of proven and probable mineral reserves and 25.1 million ounces of measured and indicated mineral resources.
Once the transaction closes, Equinox shareholders will own 67% of the combined company, and Orla shareholders will own the remaining 33%. The transaction is expected to close in the third quarter and the combined company will operate as Equinox Gold. The acquisition is part of Equinox Gold’s bid to reduce geographic risk at a time when a rise in gold prices has boosted miners’ cash flow and improved access to capital.
Equinox Gold Corp. (NYSEAMERICAN:EQX) is a mining company that explores, develops and extracts gold and silver in the Americas. The company focuses on large-scale, long-duration assets and aims to produce around 750,000 ounces of gold per year.
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