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🥇 Equinox Gold: The next step in our growth has been taken!

Equinox Gold ($EQX (+6,61%) ) is my second-largest holding in my portfolio after K92 Mining ($KNT (+5,63%) ) and has performed very well in recent years (I feel like I’ve been following the company since day one). With the acquisition of Orla Mining at the end of July, the company has grown significantly once again.

Today, the production figures for Q3 were released. And they’re extremely positive: 👇

🟡 237,019 ounces of gold were produced in Q3. Year-to-date, production totals 611,483 ounces.

🟡 A new scale: With Orla, two producing mines—Musselwhite and Camino Rojo—are being added. However, in Q3, they are only included in the figures for two months.

🟡 Strong
Outlook: Equinox continues to target 870,000–920,000 ounces for 2026 based on the updated company guidance. With Orla’s full-year contribution, the pro forma total would be approximately 1.1 million ounces.

🟡 Debt reduction is underway: In the third quarter alone, an additional $190 million in debt was repaid. Since the beginning of the year, the total has been approximately $1.2 billion. At the end of the quarter, the company had $527 million in cash and a net cash position of $163 million.

https://ceo.ca/@GlobeNewswire/equinox-gold-reports-q3-production-results-following

Equinox is not only growing through acquisitions but is also working to strengthen its balance sheet and improve existing mines. According to management, Greenstone and Valentine will also contribute more and more to growth in the coming quarters.

Debt continues to be reduced, there is a dividend, and an opportunistic share buyback program is in place. In my view, this is currently one of the most attractive mining companies out there... 😊

8 Comentários

Get_Rich_or_Die_Tryin@Get_Rich_or_Die_Tryin

Orla was definitely a really good acquisition. Orla's production costs are ridiculously low, and its operations are just incredibly strong. I actually wanted to buy Orla through @Aktienhauptmeister, but then the takeover got in the way. 😅

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Part_Time_Joe@Part_Time_Joe

@Get_Rich_or_Die_Tryin I've been with Fiore Gold since the beginning; they were later acquired by Calibre Mining and then merged with Equinox. So I've been through a few takeovers now, and I also owned Orla Mining shares... 😀

So far, every acquisition has been a win-win situation. If you weren’t invested in Orla, it’s not too late for Equinox. I think there’s still a lot of potential there. Above all, Los Filos isn’t even factored into the stock price yet.

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Brian@Aktienhauptmeister

@Get_Rich_or_Die_Tryin This takeover still stings😭😂 but congratulations to you, of course, @Part_Time_Joe 👍 and best of luck. For now, I have two alternative candidates on my watchlist, but I haven't looked into them in detail yet. $SKE and $SGD 😬

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Part_Time_Joe@Part_Time_Joe

@Aktienhauptmeister I'll check those out too! I don't have any money right now, and I don't think it's particularly wise to increase my exposure in that area... but it doesn't cost anything to look! 😊😂

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Brian@Aktienhauptmeister

@Part_Time_Joe I'm curious to hear your opinion. I'd classify $SGD roughly as the "Orla Mining of 5–6 years ago," and B2 Gold holds an approximately 12% stake in the company. And $SKE is the operational counterpart to Snowline, but is years ahead in its life cycle. The Eskay Creek Mine is fully funded, construction is already more than 70% complete, and production is scheduled to begin in Q2 2027 👀

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Part_Time_Joe@Part_Time_Joe

@Aktienhauptmeister Phew, I’d probably stay away from both of them right now (at least at their current valuations).

I actually find Skeena the most interesting. They’re already in the process of completing the mine, and silver gives them some leverage there. But—and I’ve (unfortunately) learned this the hard way with K92 Mining, Equinox, and Calibre Mining—a lot can go wrong in the final stages of building a mine. And even once it’s up and running, the ramp-up still has to go smoothly. At the current market cap of 5.5 billion CAD, you’re roughly at the expected NPV based on current market prices. But I don’t see enough of a safety margin to account for potential delays. Long story short: interesting, but at the current valuation, the upside is too small. On top of that, there’s still the risk of delays as well as gold and silver price volatility.

$SGD is, of course, considerably riskier. Production won’t begin until early 2030 at the earliest—and is more likely to be 1–2 years later. A lot can happen by then. On the other hand, there’s easily another 300% upside potential relative to the NPV at current market prices. I think the whole story will remain volatile over the next few years. It’s too expensive for me right now, but you could certainly take a small position if the stock corrects at some point... 😊

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Brian@Aktienhauptmeister

@Part_Time_Joe Yes, I completely understand! It’s currently just on my watchlist, too. I haven’t gotten around to a more in-depth analysis yet.
Snowline is definitely riskier, since the company is still in its early stages. Skeena, on the other hand, has a top-tier asset and intends to ramp up cash flow independently. Of course, you have to factor in the construction and implementation risks in the final stages.
I also see plenty of room for the price to fall, but right now, other stocks are my priority.🫡

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S.A.U.@SAUgut777

@Get_Rich_or_Die_Tryin Who here said something was "awesome" 🫠😁

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