$EQX.TO

Equinox Gold Price Target Lowered to US$14 at RBC

RBC Capital Markets lowered its price target on Equinox Gold (EQX.TO, EQX) to US$14 from US$17 on Monday.Analyst Josh Wolfson maintained an Outperform rating on shares of the Canadian mining company.On May 13, Equinox announced its acquisition of Orla Mining (OLA.TO) in a US$5.1 Billion cash and stock transaction."As compared to our positive first impressions of the transaction, our views are now more balanced - we see mixed valuation implications, while high growth is maintained at a now larger scale," Wolfson said in a note to clients."At spot, EQX-OLA pro forma valuation is fair versus a narrow new comparable group; however, the company's high torque to gold can materially change this conclusion," the analyst said."We reduce our target... as a result of lower estimates and modestly lower target multiples to reflect integration uncertainty," Wolfson said.

RBC Precious Metals Price Target Changes Brief: Equinox To US$17 From $23; GMining To C$54 From $65; IAMGOLD T US$22 From $30; SSR Mining To US$40 From $45

RBC Precious Metals Price Target Changes Brief: Equinox To US$17 From $23; GMining To C$54 From $65; IAMGOLD T US$22 From $30; SSR Mining To US$40 From $45

Labor Violations, Criminal Allegations at Mexico Mine Owned By Canada's Orla Mining, says USW union

An investigative panel appointed under the terms of the Canada-United States-Mexico Agreement (CUSMA) found severe violations of human and labor rights occurred at Orla Mining's (OLA.TO) Camino Rojo mine in Zacatecas, Mexico, the United Steelworkers (USW) union said Wednesday.The panel, appointed under terms of CUSMA's Rapid Response Mechanism (RRM), released its findings after investigating a complaint made to the U.S. government by Mexico's Los Mineros union, which was supported by the United Steelworkers union (USW), the USW added.According to the USW, the U.S. panel found that workers at the Camino Rojo mine, owned by Orla Mining, which is being acquired by Equinox Gold (EQX.TO), were pressured to disaffiliate from Los Mineros and join a pro-employer union. The panel also found that a contractor hired by Orla created "a climate of fear among the workers at the mine", it noted.In light of the CUSMA panel's finding, the USW's Canadian National Office is urging the Attorney General of Canada to consider criminal charges against Orla Mining.USW noted Orla Mining issued a statement on May 4, regarding its compliance with the CUSMA panel's findings. This included a statement of neutrality on unionization, training managers and workers on freedom of association, and recognition of the rights of the Mineros union at the mine, it said."While these statements are important, what is missing is reparation for the victims of organized crime and the company's complicity, especially the Mineros union members who were forced into hiding, and who continue to receive threats," the USW said. "Orla Mining and the Mexican government must guarantee the workers' ability to safely return to their jobs and homes by eliminating the presence of organized crime from the mine and the adjacent community," it added.The USW is also urging Employment and Social Development Canada (ESDC)ESDC to move the complaint to the next stage, an international panel.The USW represents 225,000 members in nearly every economic sector across Canada and is the largest private-sector union in North America, with 850,000 members in Canada, the United States and the Caribbean.

Equinox Gold Maintained at Buy at Stifel Canada as it Agrees to Acquire Orla Mining; Price Target Raised to C$35.00

Stifel Canada on Thursday maintained its buy rating on the shares of Equinox Gold (EQX.TO) while raising its price target to C$35.00 from C$31.00 after the company agreed to acquire Orla Mining (OLA.TO) to create a senior gold producer."Equinox Gold (EQX) and Orla Mining (OLA) announced a definitive agreement for an at-the-market, all-share combination to create a new North American intermediate gold producer with an implied market cap of approx. $18.5Bln. Under terms of the transaction, OLA shareholders will receive 1.00 EQX common shares for each OLA share held, with existing EQX and OLA shareholders owning approx. 67% and 33% of the combined entity, respectively, on a fully diluted in-the-money basis. We are most positive on Internally funded organic growth opportunities of 800+Koz/yr from four advanced projects that represents one of the strongest growth profiles among senior and intermediate peers and the multiple-uprate from a transition to 1.0+Moz/year of gold production. We estimate the transaction is NAVPS-neutral with 53% of combined NAV residing in Canada (85% in North America) and growth projects internally funded from operating cash flow and available liquidity," analyst Ralph Profiti wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $19.37, Change: $-0.54, Percent Change: -2.69%

Update: Equinox Gold, Orla Mining Agree to Combine in Cash-and-Stock Deal to Create Senior Gold Producer

(Adding commentary from Wedbush in the second paragraph and share prices in the third paragraph)Equinox Gold (EQX.TO) and Orla Mining (OLA.TO) have entered into an agreement to combine into a new North American senior gold producer under the name of Equinox Gold, the companies said on Wednesday.According to Wedbush in a 'Special Situations' note published a short time ago, the stock should trade well near-term as the market prices in the re-rating from mid-tier to senior producer status, with the primary risk being gold price reversion and Mexican regulatory complexity around Camino Rojo/Los Filos.At last look, EQX was down 2.7% and ORLA down 0.8% in US premarket trade.Under the agreement, Equinox Gold will acquire all of Orla's issued and outstanding shares. Orla shareholders stand to receive 1.00 Equinox Gold common share and a nominal cash payment of $0.0001 for each Orla common share held prior to the effective time of the transaction.At deal completion, existing Equinox Gold shareholders and former Orla shareholders will own about 67% and 33% of the outstanding common shares of the combined company, respectively.The combined company will have about 1.1 million ounces of expected annual gold production and an implied market capitalization of US$18.5 billion.It will be anchored by three long-life Canadian gold mines, with a clear path to more than 1.9 million ounces of annual gold production from an internally funded North American growth pipeline.The combined company will be led by executives and directors from both Equinox Gold and Orla. Equinox Gold's chief executive officer, Darren Hall, will remain as CEO. Orla's president and CEO, Jason Simpson, will join Equinox Gold's leadership team as president.The board of directors of the combined company will consist of 11 directors, with Chuck Jeannes as chair, along with six directors from Equinox Gold and an additional four directors from Orla.The transaction will require approval by 66.67% of the votes cast by the shareholders of Orla at a special shareholders meeting expected to be held in July.The issuance of Equinox Gold common shares is subject to approval by the company's shareholders by a simple majority of the votes cast at a special shareholders meeting also scheduled for July.The board of directors of each of the companies have each unanimously approved the transaction and recommend that their respective shareholders vote in favor of the deal.The deal is expected to close in the third quarter, subject to the satisfaction of certain closing conditions.

Equinox Gold, Orla Mining Agree to Combine in Cash-and-Stock Deal to Create Senior Gold Producer

Equinox Gold (EQX.TO) and Orla Mining (OLA.TO) have entered into an agreement to combine into a new North American senior gold producer under the name of Equinox Gold, the companies said on Wednesday.Under the agreement, Equinox Gold will acquire all of Orla's issued and outstanding shares. Orla shareholders stand to receive 1.00 Equinox Gold common share and a nominal cash payment of $0.0001 for each Orla common share held prior to the effective time of the transaction.At deal completion, existing Equinox Gold shareholders and former Orla shareholders will own about 67% and 33% of the outstanding common shares of the combined company, respectively.The combined company will have about 1.1 million ounces of expected annual gold production and an implied market capitalization of US$18.5 billion.It will be anchored by three long-life Canadian gold mines, with a clear path to more than 1.9 million ounces of annual gold production from an internally funded North American growth pipeline.The combined company will be led by executives and directors from both Equinox Gold and Orla. Equinox Gold's chief executive officer, Darren Hall, will remain as CEO. Orla's president and CEO, Jason Simpson, will join Equinox Gold's leadership team as president.The board of directors of the combined company will consist of 11 directors, with Chuck Jeannes as chair, along with six directors from Equinox Gold and an additional four directors from Orla.The transaction will require approval by 66.67% of the votes cast by the shareholders of Orla at a special shareholders meeting expected to be held in July.The issuance of Equinox Gold common shares is subject to approval by the company's shareholders by a simple majority of the votes cast at a special shareholders meeting also scheduled for July.The board of directors of each of the companies have each unanimously approved the transaction and recommend that their respective shareholders vote in favor of the deal.The deal is expected to close in the third quarter, subject to the satisfaction of certain closing conditions.

Equinox Gold and Orla Mining Add Co Will Have a "Clear Path" to More Than 1.9M Ounces of Gold From North American Growth Assets

Equinox Gold and Orla Mining Says Combined Co Expected to Produce 1.1M Ounces of Gold Annuallly

Equinox Gold and Orla Mining Combining

Equinox Gold Target Raised To C$27 From $26, Keeps Outperform at National Bk on Ests Revisions: Notes Guidance Reiterated, Focus on Disciplined Execution

Equinox Gold Maintained at Buy at Stifel Canada After Q1 Results; Price Target Kept at C$31.00

Stifel Canada on Thursday reiterated its buy rating on the shares of Equinox Gold (EQX.TO) and its C$31.00 price target following the company's first-quarter results."Equinox Gold reported Q1/26 adjusted EPS from all-operations of $0.30 vs. our $0.34 (consensus $0.29) and adjusted EBITDA from all-operations of $527Mln vs. our $557Mln (consensus $521Mln) on gold production of 198Koz (pre-released). Q1/26 cash costs and AISC came in higher at $1,633/oz (vs. our $1,539/oz) and $1,950/oz (vs. our $1,933/oz), respectively, on severe winter conditions at Greenstone and Valentine, contractor support during Valentine ramp-up, and Mesquite Brownie 4 capital stripping. Equinox Gold reiterated FY26 guidance on consolidated production at 700-800Koz at cash costs of $1,425-$1,525/oz and AISC of $1,775-$1,875/oz. We remain encouraged by management's operating focus and 2026 priorities being the ramp-up at Greenstone and Valentine to full capacity, advancing engineering studies for the Valentine Phase 2 expansion to double throughput to 5.0Mtpa, as well as advance engineering and permitting for the Castle Mountain Phase 2 expansion," analyst Ralph Profiti wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $20.47, Change: $+0.89, Percent Change: +4.55%

Lumina Metals Secures BCSC Approval for $406 Million IPO and Share Sale

Lumina Metals said Friday it received approval from the British Columbia Securities Commission for its final prospectus for its upcoming initial public offering (IPO) and secondary share sale.The offering includes a treasury offering of company's shares for proceeds of nearly $312.5 million and and a secondary share offering held by a selling securityholder for proceeds of about $93.7 million at $12.50 each, for total gross proceeds of up to $406.2 million.There is also an over-allotment option for underwriters, which could raise a further $467.1 million if fully used, the company added.The shares have been conditionally approved for listing on the Toronto Stock Exchange, the company said, adding it also plans to apply for a listing on the Warsaw Stock Exchange, pending regulatory approval in Poland.Lumina started operating in Poland in 2011 and discovered three copper-silver deposits in the western part of the country. Its largest shareholder is an affiliate of Executive Chair Ross Beaty, who leads the Vancouver-based Lumina Group. The group has helped build several mining companies over the past 20 years, including Equinox Gold (EQX.TO), according to a Bloomberg report.The Financial Post said Canada's IPO market is starting to show signs of recovery after several slow years. For the first time since 2021, multiple companies are preparing to go public on the TSX. AGT Food and Ingredients (AGTF.TO) said it is aiming to raise $460 million as it returns to the public market. Meanwhile, Apotex is exploring an IPO that could raise up to $1 billion, possibly in the first half of the year.Price: $19.51, Change: $+0.20, Percent Change: +1.04%