Equinox Gold (ASE) (TSE:EQX) has released an update.
Equinox Gold Corp. has acquired 100% ownership of the Greenstone Mine in Ontario, Canada, by purchasing Orion Mine Finance Management LP’s 40% interest for $995 million, paid in shares and cash. The deal includes a $500 million term loan and a $260 million equity financing to fund the cash payment. This acquisition significantly increases Equinox’s gold production and is expected to boost near-term EBITDA and cash flow, positioning Greenstone as the company’s largest and one of the world’s lowest-cost gold mines.
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