Mentioned:
Two of the biggest publicly traded gold producers in North America are coming together. But, why?
What’s happening:
- Equinox Gold (NYSE: EQX) and Orla Mining (NYSE: ORLA) have entered into a new merger deal
Why it matters:
- Equinox Gold has publicly stated they the new combined company is expected to produce 1.1M ounces of gold annually following the successful completion of the merger
Going deeper:
- Equinox Gold and Orla Mining together have six mines in full scale operation across Canada, the United States, Mexico and Nicaragua
- Following the closing of the merger Equinox Gold shareholders will own roughly 67% of the combined company and Orla Mining shareholders will own roughly 33%
The intrigue:
- Equinox Gold and Orla Mining have both publicly stated they expect to be able to scale their combined gold production to 1.9M ounces annually by expanding existing projects they already own or have under development
