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Equinox Gold and Calibre Mining are joining forces in a transformative merger that will establish Canada’s second-largest gold producer, with an estimated market capitalization of C$7.7 billion.
The combined entity, operating under the Equinox Gold name, will control a diverse portfolio of mines across five countries, anchored by two major Canadian projects: the recently operational Greenstone mine in Ontario and the near-completion Valentine project in Newfoundland and Labrador.
The merger promises immediate production strength, with projected output of 950,000 ounces of gold in 2025, potentially expanding to over 1.2 million ounces annually at full capacity.
Under the agreement, Equinox shareholders will own 65% of the combined company, while Calibre shareholders will receive 0.31 Equinox shares for each Calibre share, representing 35% ownership. The new company will be led by current Equinox CEO Greg Smith, with Calibre’s Darren Hall joining as president and COO.
