Equinox Gold On April 23 Said It Will Acquire Orion Mine Finance Management's 40% Interest In Greenstone Gold Mine GP; Equinox Gold To Pay $995M
Portfolio Pulse from Benzinga Newsdesk
Equinox Gold announced it will acquire Orion Mine Finance Management's 40% interest in Greenstone Gold Mine GP for $995M, payable in shares, cash on closing, and future cash payments. The acquisition will be funded through a new term loan and equity financing.
April 24, 2024 | 11:55 am
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Equinox Gold's acquisition of a 40% stake in Greenstone Gold Mine for $995M involves share issuance and significant cash payments, funded by debt and equity financing.
The acquisition enhances Equinox Gold's asset base, indicating growth potential. The issuance of shares and use of debt and equity financing could dilute current shareholders but suggests confidence in the deal's long-term value. Short term, the market may react positively to the strategic growth, but watch for potential concerns over increased leverage.
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