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Equinox Gold Corp

EQX

Equinox Gold Corp. engages in the operation, acquisition, exploration, and development of mineral properties. The company primarily explores for gold and silver deposits. Its properties include the Aurizona gold mine located in Maranhão State; the RDM gold mine located in Minas Gerais State; and Fazenda gold mine and the Santa Luz gold mine located in Bahia State, Brazil. The company also hold interests in the Mesquite gold mine and the Castle Mountain property situated in California, the United States; and the Los Filos Gold Mine located in Guerrero State, Mexico. In addition, it holds a 60% interest in the Greenstone project located in Ontario, Canada. The company was formerly known as Trek Mining Inc. and changed its name to Equinox Gold Corp. in December 2017. Equinox Gold Corp. was incorporated in 2007 and is headquartered in Vancouver, Canada.

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Information

Key Information

Legal Entity

Equinox Gold Corp

Sector

Precious Metal

Founded

January 2, 2019

Employees

3,692

Reporting Currency

CAD

Contact Phone

16045580560

Headquarters Address

700 West Pender Street , Vancouver , BC V6C 1G8 , CA

Identifiers

CUSIP

29446Y502

Commodity Portfolio

AU Gold Primary

Stock Exchanges

EQX AMEX • USD
EQX:NYSEAMERICAN
EQX TSX • CAD
EQX:TSE

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Videos

A Gold Stock Doug Casey Owns, Now 36% Below What He Paid

A Gold Stock Doug Casey Owns, Now 36% Below What He Paid

Experts Roundtable
5 days ago 1:24:24

Key Highlights

brief
  • The CEO groups Equinox with Barrick as buyers who paid top-of-cycle prices, drawing the parallel to BHP's $3.1 billion takeover of Magma Copper at the peak of the copper market.

Reopening the McCabe mine through its ventilation raise cuts planned drilling costs about 95% — 60 holes for $200,000 instead of $9.6 million from surface. Arizona Eagle Mining's historic estimate is about 887,000 ounces at 11.7 g/t (grams per tonne), and lower modern cut-off grades should expand it. CEO Kevin Reid says C$5.5 million in cash covers the US$3.7 million underground re-entry budget, with drilling guided for May or June. Phase 1 surface drilling hit two economic intersections in seven wildcat holes, including a zinc-rich VMS (volcanogenic massive sulfide) copper discovery. The panel flags narrow veins, illiquidity and tax-loss season as near-term risks, while insiders hold roughly half the company.

Live Interview with Brien Lundin

Live Interview with Brien Lundin

Rule Investment Media
11 days ago 59:26

Key Highlights

brief
  • Lundin says Ross Beaty's goal with 'the new Equinox' has been to create a high-level mid-tier producer, and that he is just about achieving it.
  • He adds that 'you would not bet against Ross ever,' noting Beaty has retired a couple of times over the years but keeps getting pulled back in.

Brien Lundin says gold and long bond yields are sending one signal — currencies will be depreciated to manage unpayable government debt. He favors producers: majors offer 4-5x potential with dividends and net cash, and eventually they must turn to M&A to refill depleted pipelines. Better-funded juniors now drill seriously, but developers advancing projects alone may cap takeover premiums near 20% instead of the 200% of past cycles. Strategic-metals politics invite government and generalist capital that ignores project economics, reviving deposits the industry had written off as uneconomic. Lundin stays bullish on K2 Gold's Mojave drilling, Prospector Metals around $0.80-$0.90, and Cabral's low-capex early production funding exploration without dilution.

Gold Royalty: $100m FCF Targeted by 2030 at Spot

Gold Royalty: $100m FCF Targeted by 2030 at Spot

Mining Network
12 days ago 25:16

Key Highlights

brief
  • Griffith points to Equinox Gold's strategy in recent years of getting bigger to earn a higher valuation ratio, saying it 'sort of has worked' and mirrors the strong scale-to-multiple correlation he sees in the royalty space.

Gold Royalty targets 28,000-34,000 gold equivalent ounces by 2030 — a six-fold rise — with 70% of that growth already permitted and built. The president projects about $100 million of free cash flow by 2030 at spot prices against flat G&A near $8 million and no debt. Growth is spread across Cote, REN, Vares, Borborema and Agnico's Odyssey, so no single asset carries the ramp and geopolitical risk stays low. The Vares copper stream reached commercial production under DPM Metals after a six-month mine-plan pause and could soon make copper a quarter of revenue. About $200 million of debt-free dry powder supports busy deal flow, while a sustainable, growable dividend is under internal discussion ahead of buybacks.

Lab Report | Sep 28 Deep Dives on NevGold, Equinox, Sirios, Ashley, and Emperor Metals

Lab Report | Sep 28 Deep Dives on NevGold, Equinox, Sirios, Ashley, and Emperor Metals

CEO.CA
14 days ago 59:31

Key Highlights

detailed
  • The host argues that 22 meters at 10 g/t gold, drilled 2 km beyond current operations at Muskrat and on strike in the same rock, shows a mine in production for decades could run for more decades.
  • He says the recent acquisition of Orla Mining should push Equinox past 1 million ounces of annual production toward 2 million and beyond, potentially making it the second- or third-largest Canadian gold miner, with an $18.69 billion valuation as of the video.
  • He calls its exploration spend very aggressive for a company this size: 45 drill rigs across nine projects and 308,000 meters drilled year-to-date across Canada, the US, Mexico, and Nicaragua.
  • At Valentine he highlights near-surface hits of about 99 meters at roughly a gram and 27 meters at 2.11 g/t at the new Minotaur discovery, an open-pit grade he says is roughly double current norms, while Greenstone's first major exploration program since 2020 started in August.
  • On his Lassonde Curve 2.0 the host places Equinox on the grow-and-replace trajectory, arguing it offers gold exposure to a miner with production growth and mine-life extension ahead of it.

High-grade hits below and beside known resources, NevGold feeders, Sirios margins, and Emperor deep shoots, drive the next re-ratings. The Lassonde Curve, a mine developer's typical share-price lifecycle, warns that publishing a resource puts juniors in a development discount window. Equinox Gold's Orla acquisition and 45-rig, 308,000-metre drilling program show majors must replace mined ounces through exploration to keep growing. Chasing high-grade feeders under low-grade open pits can excite the market, cut financing costs, and limit dilution for juniors. Judge juniors on market cap, not share count: rollbacks and warrant pressure matter less than discovery and valuation potential.

Enrico Gay of Algo Grande Copper Corp. presents at Metals Investor Forum in Vancouver | Sep 2026

Enrico Gay of Algo Grande Copper Corp. presents at Metals Investor Forum in Vancouver | Sep 2026

Metals Investor Forum
18 days ago 9:32

Algo Grande Copper is an early-stage ~$35M-market-cap copper explorer with one Sonora, Mexico skarn discovery and two rigs turning. Phase 1 drilling grew a two-horizon skarn into a five-horizon system averaging 57 meters above 1.8% copper equivalent across four holes. Phase 2 (8,000 meters) is mid-flight; the first released hole cut 30 meters at 1.5% copper equivalent within the top 200 meters. $50 million has been raised through straight-share private placements with zero warrants, preserving a deliberately clean capital structure. An internal (non-43-101) model estimates 14 million tons at 1.4% copper equivalent; the underlying porphyry remains untested blue sky.

Mal Karwowska of Newcore Gold Ltd. presents at Metals Investor Forum in Vancouver | Sep 2026

Mal Karwowska of Newcore Gold Ltd. presents at Metals Investor Forum in Vancouver | Sep 2026

Metals Investor Forum
18 days ago 11:01

Key Highlights

brief
  • Speaker frames Equinox Gold as the entity that resulted from Caliber's 'series of mergers and acquisitions', citing it as a co-founder (Doug Forrester, Blaine Johnson) success that she says created significant shareholder value.

Newcore's June 2026 PFS values the project at US$496M NPV at $3,800 gold and US$775M at $4,500 spot, versus a US$85M market cap. Newcore is fully funded with $15.5M cash to complete an 80,000-meter drill program; 12% insider ownership and roughly 55% institutional ownership signal strong alignment. All 2026 drill results released after the March 2026 resource cutoff are excluded from the PFS, representing growth upside not yet captured in study economics. The Ghana project sits on a belt hosting Newmont's Ahafo mine and currently holds 1.5M oz indicated plus 626,000 oz inferred across four open deposits.

Rhylin Bailie of Equinox Gold Corp. presents at Metals Investor Forum in Vancouver | Sep 2026

Rhylin Bailie of Equinox Gold Corp. presents at Metals Investor Forum in Vancouver | Sep 2026

Metals Investor Forum
18 days ago 10:16

Key Highlights

detailed
  • Bailie says the July 2026 merger with Orla Mining transformed Equinox into North America's new senior gold producer, with 2026 guidance of 870,000–927,000 ounces and a target of over 1.1 million ounces next year.
  • Bailie projects production growth to more than 1.9 million ounces annually within about five years, backed by 23 million ounces of reserves plus 25 million ounces of M&I and 13 million ounces of inferred.
  • Bailie argues that after January 2026 Brazil mine sales paid off more than a billion dollars in debt, the company can self-fund growth and has launched a share buyback, first dividend in March, and a 50% dividend increase in August.
  • Bailie highlights that 75% of net asset value and 70% of production come from Canada and the US, which he argues should support a premium valuation.
  • Bailie points to specific growth catalysts — Greenstone ramp-up, Valentine phase two, Railroad (construction started August, 2028 production), Castle Mountain (H2 next year construction) — driving US output from 75,000 to over 400,000 ounces per year.

Equinox Gold became North America's senior gold producer after completing the Orla Mining merger in July 2026, lifting capacity above 1.1M oz/year. 2026 guidance is 870 to 927k oz; full-year Orla contribution should push 2027 output past 1.1M oz and a targeted 1.9M oz by 2031. The portfolio holds 23M oz reserves, 25M oz M&I, and 13M oz inferred; 75% of NAV comes from tier-one Canada and US jurisdictions. Los Filos (Mexico) carries almost zero value in current pricing; an updated technical report is positioned as a key near-term catalyst. Capital returns started this year with a quarterly dividend (raised 50% in August to roughly $0.09 per share annualized) and a buyback program.

Rick Rule: A 'Generational Opportunity' In Gold Miners, 'Substantially' Higher Gold Prices Ahead

Rick Rule: A 'Generational Opportunity' In Gold Miners, 'Substantially' Higher Gold Prices Ahead

Palisades Gold Radio
18 days ago 56:11

Key Highlights

detailed
  • Rule cites Equinox Gold's acquisition of Caliber and then Orla as 'tactical' dealmaking: no strategic advantage, with the assets almost uniquely uncorrelated.
  • He says those deals grew Equinox's development pipeline very fast and increased its heft and market capitalization.
  • Per Rule, the larger size won Equinox rapid inclusion in equity ETFs, so pension funds are now passively buying the stock roughly every two weeks.

Rule expects gold substantially higher within five years, but warns rising US interest rates could pressure it near term. When inflation fears drive rate hikes, gold can climb alongside them: in the 1970s rates rose fourfold while gold rose 26-fold. Majors that stopped exploring must buy ounces to replace production, setting up strategic, tactical, and single-asset acquisition opportunities. Catching the miner opportunity takes three disciplines: valuation work, a five-year hold, and tolerance for 50% drawdowns. Oil producers now defer about $2 billion of sustaining capital (upkeep spending) daily, pointing to systemic supply shortfalls by 2029 or 2030.

Two Jurisdictions, One Thesis: Inside Toogood Gold's ($TGC | $TGGCF) High-Grade Discovery Strategy

Two Jurisdictions, One Thesis: Inside Toogood Gold's ($TGC | $TGGCF) High-Grade Discovery Strategy

Investor TV
21 days ago 1:00:32

Key Highlights

brief
  • Toogood's Newfoundland project sits on the same structural corridor as Equinox Gold's producing Valentine Lake mine, cited at a 4-plus-million-ounce measured and indicated resource.
  • The Valentine Lake mine is described as producing upwards of 200,000 ounces of gold per year.

Toogood Gold advances two assets: an undrilled epithermal (near-surface hot-water) gold-silver system at Table Mountain, Nevada, and the Quinlan discovery in Newfoundland. Independent epithermal expert Stuart Simmons placed the gold-precipitating boiling horizon 50 to 200 meters below surface exposure, guiding shallow first drilling. Mapping defined multi-kilometer Widowmaker and Pacifico vein structures with property-wide boiling textures and surface rock samples running anomalous to multi-gram gold. Newfoundland's Quinlan zone shows visible gold in roughly half of early holes, surface grades to 76.89 g/t (grams per tonne), and stays open. A 3,000-5,000 meter maiden drill program could start in Q4 once permits land, funded from treasury plus a planned $2.5-3 million raise.

8 Mining Stocks Our Viewers Asked Us to Review | Sept 14th-18th

8 Mining Stocks Our Viewers Asked Us to Review | Sept 14th-18th

The Deep Dive
25 days ago 15:58

Host Steve Hyland works through eight viewer-requested names, framing each as a development, execution, or pure exploration story with a clear re-rate trigger. Barrick put 38.5% of 4 Mile into the Nevada JV for $1.95 billion — far below Citi's $10–20 billion range — to clear a default. i-80 Gold is fully funded but slipping: Cove and Granite Creek studies now target Q3, and Archimedes has slid to mid-2027. A US statutory gold revaluation at $4,300 per ounce would unlock roughly $1.1 trillion — effective QE without calling it QE. LaFleur's Beacon mill is past 95% recommissioned, but its first gold pour has slipped from March to year-end 2026, and a new CEO arrived mid-restart.

Robert Eckford: Why Gold Will Keep Running for Another 5 Years

Robert Eckford: Why Gold Will Keep Running for Another 5 Years

VRIC Media
about 1 month ago 39:52

Key Highlights

brief
  • Robert's prior Leer Gold venture was sold to Equinox successfully, the outcome he cites when explaining how the same team went on to found Aris Mining in 2020

Robert Eckford argues gold has another 3-5 years of upside as US deficits persist across parties and central banks keep buying. Central banks are price-agnostic, multi-year gold buyers, and institutions that follow them push equities to catch up to the metal. Rua Gold ran a small PEA early so New Zealand would fast-track a six-month permit for Old Creek inside the Reefton district. A hub-and-spoke plan turns Old Creek into the first mine feeding a central mill, with Glamorgan as high-upside exploration leverage. Roughly $29.5M cash and no warrant overhang let Rua plan $130-150M of project financing and a 2027 Reefton build decision.

This Copper Giant Holds 1.2 Billion Silver Ounces | Jordan Pandoff

This Copper Giant Holds 1.2 Billion Silver Ounces | Jordan Pandoff

The Deep Dive
about 1 month ago 19:50

Nova Sül would rank Lumina as the world's third-largest silver producer at full output — backed by 15Mt copper and 1.2Boz silver in inventory. Lumina could fund the $6.4B Nova Sül build with EU debt and a silver stream — IPO was 4x oversubscribed at $300M. Poland's capped 2012 mineral extraction tax gives Nova Sül asymmetric leverage — at spot copper and silver, the post-tax NPV triples versus the PEA. Twin identical $3B shaft complexes let Lumina scale by reusing one design across the continuous Kupferschiefer copper-silver seam. Sulmierzyce (Silmir Zisha) is a potential spinout with 6Mt copper and 300Moz silver — ongoing drilling is expected to grow that resource materially.

A $549M BET ON AUSTRALIA | OceanaGold x AusGold

A $549M BET ON AUSTRALIA | OceanaGold x AusGold

The Deep Dive
about 2 months ago

OceanaGold acquires AusGold for $549M, gaining Katanning — a Western Australia open-pit gold project — as its fifth asset. All-stock deal at a 44% premium to AusGold 20-day VWAP; first gold slips from AusGold 2028 target to 2029. Katanning economics: 10.3-year mine life, 1.2Moz recovered, AISC near $1,590/oz, $354M pre-production capex, 1.1 g/t grade. Value hinges on re-rating from developer 0.4x NAV to producer 0.7x NAV — a ~1.7x lift on identical ounces. OceanaGold trades at ~$11,500 per guided ounce versus Lundin Gold $32,000 and Alamos Gold $26,100 — the gap the deal aims to close.

Rio2: Condestable Expansion Approved, Fenix on Track for 100koz in 2027

Rio2: Condestable Expansion Approved, Fenix on Track for 100koz in 2027

Mining Network
about 2 months ago

Super El Nino disrupted Fenix Gold first-year heap-leach ramp-up, prompting Rio2 to pull 2026 gold guidance rather than chase unattainable numbers. Wheaton gold prepay (95,000 oz over 7 years) is Rio2 main balance-sheet drag - they plan to retire it via senior debt once AISC hits ~$2,000/oz. Condestable copper mine (EIA-approved expansion to 10,000 tpd, FID targeted H2 2026, sub-$50M capex) adds a steady-state cash engine to a one-asset junior. Fenix targets 20,000 tpd throughput and ~100,000 oz by 2027 at AISC ~$2,000/oz - the spread against todays gold price drives meaningful free cash flow. Alex Black long-term vision is a lean, three-mine LatAm gold-copper producer - small Lima team and no Canadian HQ make Rio2 an attractive eventual takeover target.

Live Q&A with Rick Rule and Albert Lu

Live Q&A with Rick Rule and Albert Lu

Rule Investment Media
about 2 months ago

Key Highlights

detailed
  • Rule frames Equinox as a 'three-year theme, not a three-month theme' because, despite reaching economic completion in Ontario, the company still has three mines to build — including a roughly $420 million Valentine expansion — that will absorb most of its free cashflow.
  • He uses Equinox's Ontario project as his worked example of when to buy a deleveraging equity play: he waited until the project was 'not merely economic but rather nameplate complete' and the asset's net present value clearly exceeded enterprise value.
  • Rule argues Equinox's development pipeline is 'extremely attractive' and tells him the company has a use for most of its free cashflow, so he does not expect material buybacks or dividend hikes.
  • He reminds viewers that three and a half years ago Equinox's Northern Ontario build was a billion-dollar job that turned into a billion-four or billion-five and ran way behind schedule — which is why he refused to add to his position until deleveraging was visible.
  • Rule argues lenders and shareholders have very different interests in such leveraged builds: lenders can typically sell the project to recover their loan while shareholders get wiped out — a key capital-stack lesson.

Reading offering documents and 10-Ks is essential; Rick Rule uses a condo contract story to illustrate capital stack diligence. Rick rates First Mining Gold's Spring Pole a 6, and Agnico Eagle's Radisson stake validates Abitibi infrastructure economics. Lotus Resources' Chialecra uranium deposit isn't buildable at $80/lb given East African political and economic challenges, Rick says. Inversion technique: avoiding Doug Casey's 'gotta hunch, bet a bunch' is the surest way to fail in natural resources. In deleveraging equity plays, Rick waits for net present value of assets to exceed enterprise value before buying.

Mining Can Make You Rich or Wipe You Out | Ross Beaty

Mining Can Make You Rich or Wipe You Out | Ross Beaty

The Deep Dive
about 2 months ago

Key Highlights

detailed
  • Ross argues Equinox has a 'really assured future': 1.1M oz production this year and a built-in path to ~1.9M oz in a few years without further M&A, which he says would put it in the global top-10 gold producers.
  • Ross says he retired as chair about two weeks ago, right after closing the Orla combination deal; he invested $10M of his own money in new shares, has not sold since over a year ago, and is staying on as an adviser.
  • The portfolio is loaded with growth: a Nevada record of decision under the Fast 41 program just announced for a new mine adding ~133,000 oz, a Valentine mine expansion in Newfoundland, and the now-resolved Los Filos land deal in Mexico, which Ross calls the biggest deposit in the portfolio and capable of generating 200,000-500,000 oz/year.
  • The balance sheet is described as very solid with significant cash and cash generation, and new chair Chuck Janes (ex-Goldcorp CEO) plus a new CEO are positioned to execute the growth plan.

Beaty likens exploration investing to a casino — high risk, low return, though rare 10-bagger discoveries can emerge on the Lassonde curve. Equinox Gold targets ~1.9 million ounces of annual production via Nevada's new Railroad mine and existing assets, with no further deals required. Beaty personally bought $10 million of Equinox shares after retiring, citing the team's growth runway and a strong balance sheet. Lumina Metals' Polish copper-silver deposit ranks among the world's largest, with $6 billion capex financing plausibly available in today's market. Beaty kills project interest in the first hour over non-geological issues: no water, no power, hostile communities, or missing roads.

Lab Report | Aug 20 Deep Dive on Contango Silver & Gold

Lab Report | Aug 20 Deep Dive on Contango Silver & Gold

CEO.CA
about 2 months ago 48:48

Key Highlights

brief
  • The host says Equinox's takeover of Orla makes it a roughly 1.2-million-ounce producer on its way to 2 million ounces, turning it into a major and removing it from his mid-tier list.

Contango eliminated its hedge book near $4,000 gold, restoring shareholders' complete exposure to gold price upside. High-grade projects using a direct shipping ore model — rock sent to existing mills — avoid tailings dams, big capital, and slow permitting. Moncho cash flow from the 70/30 joint venture operated by Kinross self-funds seven drill rigs and Johnson Track roadwork on a 33-million-share count. On the speaker's valuation yardstick of $500 million to $2 billion per 100,000 ounces produced, Contango screens cheap against its project portfolio. Decades of consolidation emptied the mid-tier ranks, leaving few growth producers positioned for the next stage of the gold bull market.

Agnico Q2 Record Cash Flow, Despite Gold Prices

Agnico Q2 Record Cash Flow, Despite Gold Prices

The Deep Dive
about 2 months ago

Key Highlights

brief
  • The guest sets Equinox aside for valuation comparison because its merger with Orla closed July 31, leaving current multiples unclear.
  • Equinox posted the highest AISC among the senior peer set at $2,175 per ounce.

Agnico Eagle's record $1.34 billion quarterly free cash flow shows operating discipline that beat estimates despite weaker realized gold prices. AISC (All-In Sustaining Cost — what it really costs to produce an ounce) landed at $1,459, hundreds below Newmont, Barrick, Kinross, and Equinox. A July 1 pit wall failure at Canadian Malartic stranded about 370,000 ounces; mining resumes Q4 with full-year production guidance at the low end. Capital spending guidance jumped 18% to fund Hope Bay, Odyssey Underground, and Detour as Agnico targets 20-30% production growth over the next decade. Agnico trades at a 27% EBITDA and 40-65% free cash flow premium to senior peers, justified by a 16% AISC advantage and its growth pipeline.

Versamet Royalties–Record Q2 Earnings Metrics, Royalty & Streaming Partner Updates, Growth Into 2027

Versamet Royalties–Record Q2 Earnings Metrics, Royalty & Streaming Partner Updates, Growth Into 2027

The KE Report
about 2 months ago

Key Highlights

detailed
  • Equinox Gold's Greenstone mine is highlighted as a key operator producing about 65,000 ounces in the most recent quarter, with mill throughput up 20% quarter-on-quarter.
  • The guest says the mill is running above nameplate and frames Greenstone as a well-capitalized, senior producer with deep operating experience.
  • He argues Versamet captures Greenstone's growth capital and operational improvements without paying for them.

Versamet posted record Q2 with revenue up 392% and EBITDA up 747% year-over-year, underscoring the cash-flow strength of its royalty model. The 3.52% Eskay Creek gold stream, due mid-2027, should lift attributable production to roughly 35,000 GEOs (gold equivalent ounces) versus 20–23K in 2026. Versamet's operator partners — Equinox, West African, Endeavour Silver — deliver asymmetric upside, since mine-life gains and grade improvements flow straight to its bottom line. Rosh Pinah's RP 2.0 expansion is ~95% complete and is on track to nearly double the mine's throughput to 1.4 million tons annually. Surprise catalysts — Cabral Gold's Cuiú Cuiú pour in September 2026 and Southern Copper's El Palar build starting 2027 — add ounces plus copper exposure.

Lab Report | Aug 17 Daily Market Overview & Deep Dive on Banyan Gold, Contango, and Equinox Gold

Lab Report | Aug 17 Daily Market Overview & Deep Dive on Banyan Gold, Contango, and Equinox Gold

CEO.CA
about 2 months ago 41:05

Key Highlights

detailed
  • Top point: a US permitting milestone on the South Railroad project — a positive "Record of decision" from the Bureau of Land Management, which he calls the significant permit, on a project that "would add 800,000 ounces of annual gold production". "Board of Directors approved the construction. So they're just waiting on all the permits", and Equinox sits in the US FAST 41 program, which he says "enables faster process" through permitting.
  • Where he places the company is his own view, not a classification: "Equinox is on the verge of graduating from My mid-tier category into the majors category". His driver is the Orla combination — "with the combination of Equinox Gold And Orla, they will be a 1 million ounce producer and on their way to 2 million ounces". Those figures describe the combined Equinox and Orla entity, not either company standing alone, and he calls it "a smaller major, but nonetheless, a major".
  • His stated rationale for the placement is stage mix: "Equinox is one of these companies that has A few production, some late stage development, some earlier stage development, some in the Feasibility", a spread he credits with giving it "a wonderful pipeline".
  • On valuation his word is modest rather than cheap — "they've got a modest Valuation of $19.33 billion Canadian" — and liquidity is his strongest quantitative point: the stock "trade about 4.5 million" shares on Toronto, and by the session he is describing, "Today, they've already traded 2.92 million shares".
  • The intraday read is speculation he hedges himself, on algo-driven 100-share orders that he says look like an EKG: he expects some give-back, "my guesstimate would be that it Will give back some of these gains", with "There's 15 million shorts on the company", and closes the section with "So who knows? Where it'll go today".

Debt-service math points to rate cuts rather than the September hike markets price, which is why the host stays bullish gold, silver and copper. A discovery-to-production pipeline he calls broken leaves gold, silver and copper with weak supply chains against strong demand. Banyan Gold rose 6.3% on a 13.03 grams-per-tonne gold intercept over 14.2 metres at a road-accessible Yukon project. Contango Silver and Gold is a preview: the host expects the junior to graduate into a well-run mid-tier with a cash-rich balance sheet. Equinox Gold’s South Railroad permit milestone adds 800,000 ounces a year and, on the host’s view, moves it from mid-tier toward major.

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