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Category: Mid-tier Producer
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Equinox Gold
www: www.equinoxgold.com     email: info@equinoxgold.com

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Notes
Forum
Your Data

Symbol Data

Symbol Currency
CVE:EQX CAD
OTCMKTS:EQXFF USD

Description

Equinox Gold are a gold focused mid-tier producer with one producing mine in Brazil, four mines in development in Brazil, Canada and USA and exploration properties. Currently they produce roughly 135koz. of gold per year. They have approximately 11Moz. of gold in the reserves and resources category of which 8Moz. are in the measured and indicated category. They have a market capitalisation of ~$510.5M which hasn't changed over the last day. As of 12/15/2018 they have ~$195M debt and ~$90M cash. They have 581M shares outstanding and trade on the Canadian Venture Exchange and the over-the-counter markets.

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General Details

Financial 12/15/2018
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (FD): $510.50M $510.50M 12/15/2018 $0.00M
Total Assets: $486.00M $486.00M 12/15/2018 $0.00M
Total Liabilities: $270.00M $270.00M 12/15/2018 $0.00M
Current Assets: $29.00M $29.00M 12/15/2018 $0.00M
Current Liabilities: $33.00M $33.00M 12/15/2018 $0.00M
Total Debt: $195.00M $195.00M 12/15/2018 $0.00M
Cash: $90.00M $90.00M 12/15/2018 $0.00M
Enterprise Value: $615.50M $615.50M 07/03/1989 $0.00M
Cash Flow: $8.33M $8.33M never $0.00M
Cash Flow Multiple: 61.32 61.32 never 0.00
Net Debt to
Cash Flow Ratio:
12.61 12.61 never 0.00
Finance within 1 year: 12/15/2018 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 12/15/2018 0.00%
Misc 12/15/2018
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 581,000,000 581,000,000 12/15/2018 0
Shares (FD): 697,000,000 697,000,000 12/15/2018 0
Insider Ownership: n/a 35% 12/15/2018 35%
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 01/01/2018 12/15/2018 n/a
Production (Gold Eq Oz.): (guess) 
135,000
(guess) 
135,000
12/15/2018 0
Production (Silver Eq Oz.): (guess) 
11,495,426
(guess) 
11,495,426
12/15/2018 0
Initial CapEx (Outstanding): $146.00M
28.6% of Mkt.Cap
$146.00M
28.6% of Mkt.Cap
12/15/2018 $0.00M
Funding Option: n/a (guess)  Issue stock 12/15/2018 n/a
Documentation: none PRODUCER 12/15/2018 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 12/15/2018
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 5.00M 5.00M 12/15/2018 0.00M
Measured & Indicated: 8.00M 8.00M 12/15/2018 0.00M
Inferred: 3.00M 3.00M 12/15/2018 0.00M
Reserves & Resources: 11.00M 11.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 4.50M 4.50M 12/15/2018 0.00M
Measured & Indicated: 6.66M 6.66M 12/15/2018 0.00M
Inferred: 1.35M 1.35M 12/15/2018 0.00M
Reserves & Resources: 8.01M 8.01M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
135,000oz.
(guess) 
135,000oz.
12/15/2018 0oz.
Cash Cost: $750 $750 12/15/2018 $0.00
Extra Operating Cost: $400 $400 12/15/2018 $0.00
Average Grade: 0.60 g/t 0.60 g/t 12/15/2018 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 12/15/2018 0.00%
F
U
T
U
R
E
Proven & Probable: 8.00M 8.00M 12/15/2018 0.00M
Annual Production: 450,000oz. 450,000oz. 12/15/2018 0oz.
Cash Cost: $800 $800 12/15/2018 $0
Extra Operating Cost: $400 $400 12/15/2018 $0
SILVER 12/15/2018
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 12/15/2018 0.00M
Measured & Indicated: n/a n/a 12/15/2018 0.00M
Inferred: n/a n/a 12/15/2018 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 12/15/2018 0.00M
Measured & Indicated: n/a n/a 12/15/2018 0.00M
Inferred: n/a n/a 12/15/2018 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 12/15/2018 $0.00
Extra Operating Cost: n/a n/a 12/15/2018 $0.00
Average Grade: n/a n/a 12/15/2018 n/a
Recovery Rate: n/a n/a 12/15/2018 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 12/15/2018 0.00M
Annual Production: n/a n/a 12/15/2018 n/a
Cash Cost: n/a n/a 12/15/2018 n/a
Extra Operating Cost: n/a n/a 12/15/2018 n/a

Property

Last Analysis Data  (12/15/2018)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Production Sao Luis, Brazil Aurizona 100% 15,000 Open Pit n/a
Development Brazil, Brazil Aurizona 100% (guess) 200,000 Both show
2 million oz deposit.

$146 Capex
Production in 2019.
Development Novo Progreso, Brazil Coringa 100% 28,000 Open Pit show
Working on feasibility study. Once completed in 2017, they will need to obtain the capex of about $65 million.

Potential production in 2018.
Development British Columbia, Canada Elk Mountain 100% 16,000 Open Pit show
500,000 oz high grade surface mine. Past producing mine in the 1990s.
Development California, USA Castle Mountain 100% (guess) 3,000 Open Pit show
4 million oz resource.

Low grade at .6 gpt

All-in cost projected to be around $1,000 per oz.

PEA: Low capex of only $98 million.
Exploration Sao Luis, Brazil Cachoeira 0% n/a n/a n/a
Exploration Brazil Luna Greenfields 100% (guess) 220,000 Open Pit show
Early exploration.
Exploration Maranhao, Brazil Maranhao 100% n/a n/a n/a
Exploration British Columbia, Canada Elk 100% (guess) n/a n/a show
400,000 oz deposit at 6 gpt
Exploration Chile, Chile Ricardo 100% (guess) 16,000 n/a show
Early exploration.
Exploration California, USA Mesquite 100% (guess) n/a Open Pit show
1.1 million oz of reserves

135,000 oz annual production.

$1,100 all-in costs.
Total Land Package Size (ha): 498,000  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Production Sao Luis, Brazil Aurizona 100% 15,000 Open Pit n/a
Development Brazil, Brazil Aurizona 100% (guess) 200,000 Both show
2 million oz deposit.

$146 Capex
Production in 2019.
Development Novo Progreso, Brazil Coringa 100% 28,000 Open Pit show
Working on feasibility study. Once completed in 2017, they will need to obtain the capex of about $65 million.

Potential production in 2018.
Development British Columbia, Canada Elk Mountain 100% 16,000 Open Pit show
500,000 oz high grade surface mine. Past producing mine in the 1990s.
Development California, USA Castle Mountain 100% (guess) 3,000 Open Pit show
4 million oz resource.

Low grade at .6 gpt

All-in cost projected to be around $1,000 per oz.

PEA: Low capex of only $98 million.
Exploration Sao Luis, Brazil Cachoeira 0% n/a n/a n/a
Exploration Brazil Luna Greenfields 100% (guess) 220,000 Open Pit show
Early exploration.
Exploration Maranhao, Brazil Maranhao 100% n/a n/a n/a
Exploration British Columbia, Canada Elk 100% (guess) n/a n/a show
400,000 oz deposit at 6 gpt
Exploration Chile, Chile Ricardo 100% (guess) 16,000 n/a show
Early exploration.
Exploration California, USA Mesquite 100% (guess) n/a Open Pit show
1.1 million oz of reserves

135,000 oz annual production.

$1,100 all-in costs.
Total Land Package Size (ha): 498,000  

Profitability (by resource)

Proven &
Probable
12/15/2018
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 5.00M 5.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 4.50M 4.50M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.00M
Maximum Profit (Gold): $277.52M $277.52M n/a $0.00M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $277.52M $277.52M n/a $0.00M
Max Profit / Current MCap: 0.544 0.544 n/a 0.000
Max Profit Per Share (Gold): $0.40 $0.40 n/a $0.00
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.40 $0.40 n/a $0.00
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $113.45 $113.45 n/a $0.00
FD Mkt. Cap / Silver Eq.: $1.33 $1.33 n/a $0.00
FD Mkt. Cap / Per Metal
as % Spot Price:
9.16% 9.16% n/a 0.00%
Measured &
Indicated
12/15/2018
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 8.00M 8.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 6.66M 6.66M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.00M
Maximum Profit (Gold): $410.72M $410.72M n/a $0.00M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $410.72M $410.72M n/a $0.00M
Max Profit / Current MCap: 0.805 0.805 n/a 0.000
Max Profit Per Share (Gold): $0.59 $0.59 n/a $0.00
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.59 $0.59 n/a $0.00
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $76.65 $76.65 n/a $0.00
FD Mkt. Cap / Silver Eq.: $0.90 $0.90 n/a $0.00
FD Mkt. Cap / Per Metal
as % Spot Price:
6.19% 6.19% n/a 0.00%

Reserves &
Resources
12/15/2018
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 11.00M 11.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 8.01M 8.01M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.00M
Maximum Profit (Gold): $493.98M $493.98M n/a $0.00M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $493.98M $493.98M n/a $0.00M
Max Profit / Current MCap: 0.968 0.968 n/a 0.000
Max Profit Per Share (Gold): $0.71 $0.71 n/a $0.00
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.71 $0.71 n/a $0.00
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $63.73 $63.73 n/a $0.00
FD Mkt. Cap / Silver Eq.: $0.75 $0.75 n/a $0.00
FD Mkt. Cap / Per Metal
as % Spot Price:
5.15% 5.15% n/a 0.00%

Future Valuation (Cash Flow & Totals)

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