https://www.miningweekly.com

Equinox Gold raises $75m for Mesquite acquisition

12th October 2018

By: Creamer Media Reporter

     

Font size: - +

Canadian firm Equinox Gold has raised $75-million through private placements to fund part of its acquisition of the Mesquite gold mine, in California.

The company is buying the 135 000 oz/y mine from New Gold for $158-million.

The brokered and nonbrokered private placements were conducted at C$0.95 for each subscription receipt, raising C$97.5-million (about $75-million).

Ross Beaty, Equinox Gold’s chairperson and largest shareholder, invested $10-million in the private placement to purchase an additional 13 684 211 common shares upon conversion of the subscription receipts.

The brokered placement consisted of 34 215 000 subscription receipts issued pursuant to an underwriting agreement entered into with Scotia Capital and BMO Nesbitt Burns as co-lead underwriters, together with a syndicate including TD Securities, CIBC World Market, Haywood Securities, Raymond James, National Bank Financial, Macquarie Capital Markets Canada and Cormark Securities.

The non-brokered private placement consisted of 68 416 603 subscription receipts issued pursuant to subscription agreements with investors.

Equinox announced in September that it would buy the Mesquite mine, which is about 320 km north of its Castle Mountain project. The miner also owns the 136 000 oz/y construction-stage Aurizona gold mine, in Brazil.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
Updated 7 hours ago
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.135 0.174s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: