Rich People Trades
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Rich People Trades

Investing

Equinox Gold and Calibre Mining to Join Forces in C$2.6 Billion Deal

by admin February 25, 2025
February 25, 2025
Equinox Gold and Calibre Mining to Join Forces in C$2.6 Billion Deal

Equinox Gold (TSX:EQX,NYSEAMERICAN:EQX) and Calibre Mining (TSX:CXB,OTCQX:CXBMF) have entered into a definitive arrangement agreement to merge, creating a major diversified gold producer in the Americas.

The deal will see Equinox acquire all the outstanding common shares of Calibre in an all-stock transaction, forming a new entity that will continue operating under the Equinox name.

The merger will establish a gold producer with a presence across five countries, anchored by two key Canadian assets: the Greenstone gold mine in Ontario and the Valentine gold mine in Newfoundland and Labrador.

When at full capacity, these mines are expected to produce an average of 590,000 ounces of gold per year.

Overall, Equinox is anticipating production of approximately 950,000 ounces of gold in 2025, with the potential to exceed 1.2 million ounces annually as its cornerstone assets reach full capacity.

Under the terms of the agreement, Calibre shareholders will receive 0.31 Equinox shares for each Calibre share held.

Once the deal is complete, Equinox shareholders will own approximately 65 percent of the new entity, with former Calibre shareholders holding the remaining 35 percent. The new company’s expected market cap is C$7.7 billion.

Equinox CEO Greg Smith called the merger a “transformative step forward” for both companies, stating, “By combining our assets, teams, and financial strength, we are creating a leading Americas-focused gold producer with enhanced scale, resilience, and the ability to generate significant long-term value for our shareholders and stakeholders.”

The new company will also benefit from the expertise of mining industry veterans, including Ross Beaty and Featherstone Capital’s Blayne Johnson and Doug Forster, all of whom will serve on the Equinox board of directors.

The announcement follows Equinox’s record-breaking financial and operational performance in 2024. The company sold 623,579 ounces of gold, generating US$1.5 billion in revenue and US$430 million in operating cashflow.

Results were driven in part by the successful ramp up of production at Greenstone, which achieved commercial production in November 2024 and contributed more than 111,700 ounces of gold in its first partial year of operation.

Additional details on the merger and the new entity’s financial outlook will be provided in Equinox’s upcoming audited consolidated financial statements, which are expected in mid-March.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Metallurgical Drilling Confirms Historic Grades at the Byro REE / Li Project
next post
Jindalee Realises $2.75M from Sale of Non-Core Asset

Related Posts

Chris Vermeulen: Gold Short-term Price Target, Plus Key...

January 29, 2025

Skyharbour Partner Company Terra Clean Energy Completes Winter...

April 2, 2025

Danielle DiMartino Booth: US Economy at Precipice —...

March 28, 2025

Crypto Price Update: Q1 2025 in Review

April 7, 2025

New Murchison Gold Limited

February 12, 2025

Additional A$1.5 M raised to support Kentucky Investment

April 10, 2025

Chris Taylor Sets Sights on Gold, Antimony in...

February 8, 2025

Widespread Natural Rutile Observed Throughout the Central Rutile...

June 11, 2025

Radisson Announces Upsize of Previously Announced Private Placement...

April 24, 2025

Metals & Mining Virtual Investor Conference Agenda Announced...

May 3, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      First lady Melania Trump’s new official portrait revealed

      January 28, 2025
    • 2

      Health experts prep Dem lawmakers on anti-vaccine arguments ahead of RFK Jr’s confirmation hearings

      January 28, 2025
    • 3

      ECOWAS pledges to ‘keep door open’ after 3 coup-hit West African nations exit regional bloc

      January 30, 2025
    • 4

      American fighters are dying in Ukraine in growing numbers. Bringing their bodies home is a complex task

      January 30, 2025
    • 5

      Vale Launches Strategic Review of Thompson Nickel Operations Amid Market Challenges

      January 28, 2025
    • 6

      Scorched-earth Shanahan: RFK Jr’s former running mate threatens political war against confirmation opponents

      January 30, 2025
    • 7

      Sparks expected to fly at Kash Patel’s Senate confirmation hearing to lead FBI

      January 30, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: richpeopletrades.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 richpeopletrades.com | All Rights Reserved