Equinox Gold Announces the Sale of Its Non-Core Nevada Assets for $115 Million
Equinox Gold sealed the sale of its 100% stake in the Pan Mine, Gold Rock Project, and Illipah Project in Nevada to Minera Alamos. The company will be payable, including a cash consideration of $90 million and equity consideration worth nearly $25 million of Minera Alamos common shares.
Aerial view of miners working in a gold mine, garnering the precious resource.
Darren Hall, the CEO of Equinox Gold, mentioned the sale of the assets as the company's commitment to portfolio optimization and disciplined capital allocation.
'This transaction simplifies our business and allows the team to focus our efforts and capital on core operations and key development opportunities, positioning Equinox Gold to drive greater shareholder returns. The US$90 million in cash proceeds will strengthen our balance sheet, and the significant equity ownership will provide continued exposure to the upside within the Nevada Assets as well as to Minera Alamos' existing high-quality portfolio,' added Hall.
The equity consideration represents approximately a 9.99% stake in Minera Alamos. The transaction is expected to close during Q4 2025, subject to receipt of all regulatory and stock exchange approvals.
Equinox Gold Corp. (NYSE:EQX) is a diversified gold company. It engages in the exploration, development, operation, and acquisition of mineral properties in the Americas.
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Disclosure: None. This article is originally published at Insider Monkey.
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