Equinox adds to Hardrock stake in Ontario March 1, 2021
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Growing gold miner
Equinox Gold (TSX: EQX) has upped its stake in the Hardrock gold project in Ontario by 10%, for a total ownership of 60%. The company has entered into an agreement with Orion Mine Finance to add 10% from Orion’s 50% share of the project for consideration of US$51 million as well as contingent payment obligations.
Equinox will own 50% of the permitted Hardrock project in Ontario upon the closing of the Premier Gold acquisition (the
“We are extremely pleased to increase our stake in this world-class Canadian gold deposit located in one of the world’s top mining jurisdictions. Hardrock will be a low-cost, long-life gold mine, bringing more than 240,000 attributable ounces of annual gold production to Equinox Gold when in production, with significant upside potential from near-mine exploration and underground development,” Christian Milau, CEO of Equinox, said in
Equinox adds to Hardrock stake in Ontario - The Northern Miner northernminer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from northernminer.com Daily Mail and Mail on Sunday newspapers.
2021 Guidance Highlights
Copper production guidance of 70 to 80 million pounds.
Gold production costs guidance of $475 to $525 per ounce.
All-in sustaining costs on a by-product basis
NG guidance of $850 to $900 per ounce is higher than 2020 primarily due to Kumtor processing lower grade material from its stockpiles on surface.
All-in costs on a by-product basis
NG guidance of $1,175 to $1,230 per ounce.
Total capital spending guidance of $430 to $480 million including capitalized stripping is higher than 2020 due to increased spending at Kumtor and Mount Milligan.
Total capitalized stripping guidance of $230 to $245 million including $220 to $230 million at Kumtor primarily for mining cut-back 20 and $10 to $15 million at Öksüt.
North America cross border mining deals total $2.4bn in Q4 – report
Agbaou mine, Côte d’Ivoire. (
North America’s metals & mining industry saw a drop of 6.98% in cross border deal activity during Q4 2020, when compared to the last four quarter’s average, according to the latest analysis from GlobalData.
A total of 40 cross border deals worth $2.4 billion were announced for the region during Q4 2020, against the last four-quarter average of 43 deals.
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Of all the deal types, M&A saw the most activity in Q4 2020 with 38, representing a 95% share for the region, led by Endeavour Mining’s $1.86 billion acquisition of Teranga Gold.
Equinox Gold to Buy Premier Mines in $479 9M Deal 1490wosh.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from 1490wosh.com Daily Mail and Mail on Sunday newspapers.