Equinox Gold Corp.
Equinox Gold is a fast-consolidating multi-asset gold producer that completed two major mergers within roughly a year: Calibre Mining (closed mid-2025, adding the Valentine Gold Mine in Newfoundland plus Nicaragua and Nevada operations) and Orla Mining (closed 2026-07-31, adding Camino Rojo, South Railroad, and the Musselwhite mine, Ontario). Flagship producing assets now include Greenstone (Ontario, ~320,000 oz/yr guided for the next decade), Valentine, Los Filos (Mexico), and Aurizona (Brazil). A leadership handover is underway: CEO Darren Hall steps down 2026-10-31 with Jason Simpson (formerly Orla's CEO) taking over.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Mar 2019 · Provincial Environmental Assessment for the Hardrock (Greenstone) Project approved by Ontario's Minister of Environment, Conservation & Parks, with Cabinet concurrence (the Federal EA had been approved Dec 13, 2018). · Source
- Oct 2021 · No separately dated formal 'Board sanctions construction' release distinct from the groundbreaking found (the underlying JV restructuring completed April 2021 when Equinox consolidated its 60% interest); dated to the groundbreaking announcement, which the release itself frames as the start of full-scale construction. · Source
- Oct 2021 · Groundbreaking for full-scale construction of the Greenstone Mine. · Source
- May 2024 · First gold pour at Greenstone Mine -- 1,800oz from the full recovery circuit. Commercial production followed November 6, 2024. · Source
- Reached — date not disclosed · Genuinely reached, but no single company-wide commercial-production date exists across a multi-mine portfolio built through successive acquisitions and mergers (legacy Los Filos, Mesquite, Aurizona/Nicaragua operations, RDM, Santa Luz, Castle Mountain; Greenstone; Valentine and other Canadian assets via the 2025 Calibre Mining merger; Musselwhite and Camino Rojo via the Orla Mining merger completed 2026-07-31) -- each mine reached commercial production independently (e.g. Greenstone October 2024, Valentine December 2025). Equinox reported Q2 2026 results (released 2026-08-05) with 176,836 oz of gold production for the quarter across Greenstone, Valentine, Mesquite, its Nicaragua operations, and Castle Mountain, confirming active, ongoing commercial gold production; Los Filos was undergoing restart activities following new community land-access agreements as of Q2 2026. This row was missing entirely prior to 2026-08-21 -- a genuine data gap (row presence is the signal per this model's doc comment), not a stage error; Miner.stage was already correctly PRODUCTION. Same pattern as AEM and the other five gap tickers fixed in this same batch (ABX, NEM, AGI, BTG, AAUC). · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Combined view across 5 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Your Rankings
Management Team
Chief Executive Officer of Equinox Gold Corp. since 22 Jul 2025 (briefly President & COO immediately prior, following Calibre Mining's 17 Jun 2025 merger with Equinox Gold). Before that, President & CEO of Calibre Mining Corp. (Feb 2021-Jun 2025, SVP & COO from 2019); COO of Kirkland Lake Gold Ltd. (2016-2017, formed via the Newmarket Gold merger); COO of Newmarket Gold Inc. (2015-2016); and nearly 30 years at Newmont Mining Corporation, most recently Group Executive Operations and General Manager of Newmont Boddington Gold. BEng (Mining, Hons), Western Australia School of Mines.
Chief Financial Officer of Equinox Gold Corp. continuously since Aug 2016 -- his CFO role has continued across Equinox Gold's corporate predecessors (Luna Gold Corp., renamed Trek Mining Inc. in 2016, which combined into Equinox Gold Corp. in 2018), continuous internal history at his own current company rather than a separate outside employer. Before that, CFO of True Gold Mining Inc. (until its Apr 2016 acquisition by Endeavour Mining); 10 years at Nevsun Resources Ltd. in progressively senior finance roles including VP Finance and CFO; and earlier public-accounting experience at PricewaterhouseCoopers. Chartered Professional Accountant; undergraduate degree, University of British Columbia (1997).
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Task #172 gate batch: smartMoneyScore rubric (playbook §7.6) applied 2026-08-15 -- GATED: marketCapUsd $14.77B >= $5.0B applicability threshold. At this size, index membership (GDX, S&P/TSX 60, Russell 1000) mechanically dominates the shareholder register, so absence of a visible specialist bet carries no information. RESEARCHED_UNKNOWN per playbook §6.4/§7.6.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Task #387 (Aug 2026): multi-project conflation -- Greenstone (Ontario), Valentine (Newfoundland, added via the 2025 Calibre Mining merger), Los Filos (Mexico), Aurizona (Brazil), Castle Mountain (California), plus Camino Rojo/South Railroad/Musselwhite added via the 2026-07-31 Orla Mining merger. dcfNpvUsd/irrPct/mineLifeYears are deliberately left null -- no single study covers the whole company, and picking one project's figures to represent the shared fields would fabricate a company-wide number no study supports. Per-project economics on file: Greenstone (largest producing asset, ~320,000 oz/yr guided for the next decade, 5.3 Moz open-pit P&P Reserves) has NO economic analysis disclosed at all -- its 30 Mar 2026 technical report explicitly invokes the 'producing issuer exemption' from NI 43-101 economic-analysis requirements. Valentine (Phase 1+2 combined, same 30 Mar 2026 release): US$3.1B after-tax NPV5% and US$4.3B cumulative LOM net cash flow at US$4,500/oz gold, 2026-2037 mine life; no IRR disclosed. Castle Mountain Phase 2 Expansion FS (2021): after-tax NPV5% US$640M, IRR 18%, 14-year Phase 2 mine life, US$1,500/oz gold. Los Filos Expansion updated FS: after-tax NPV5% US$625M, IRR 26%, mine life extended to 14.5 years, 3.97 Moz total LOM production, US$1,675/oz gold. None of these cover the consolidated post-merger company, so none is written to the shared Miner-level fields.