Equinox Gold Sells Brazil Mines For $1 Billion, Stock Soars
Equinox Gold Corp. (EQX) announced the sale of its Brazil operations, including the Aurizona, RDM, and Bahia mines, to CMOC Group for $1.015 billion. The deal includes $900 million in cash and a potential $115 million contingent payment. This strategic move aims to strengthen Equinox's financial position by repaying significant loans and focusing on North American growth. Following the sale, Equinox expects to produce 700,000-800,000 ounces of gold in 2026. EQX shares rose 3.33%, reaching a 52-week high.
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