Equinox Gold-Orla Merger Creates $18.5B Gold Producer

SEATTLE (Scrap Monster): Equinox Gold Corp. and Orla Mining Ltd. have finalized details on a merger that will create a new North American gold producer from a combined total market capitalization of $18.5 billion and an anticipated annual output of around 1.1 million ounces by 2026.

After the merger, the name Equinox Gold Corp. will remain with the shareholders of Equinox receiving 67% ownership, and Orla shareholders gaining 33%. According to the agreement, Orla shareholders will obtain one Equinox common stock and $0.0001 cash for each Orla share.

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The merger will produce the secon-largest gold producer in Canada with three major Canadian mines: Greenstone, Valentine, and Musselwhite, which will, in total, produce an expected 685,000 ounces of gold in the coming year.

The combined business will have six producing mines and 10 gold development projects in Canada, the USA, Mexico, and Nicaragua. Equinox’s projections are over 1.9 million ounces per year, surpassing previous output, at least in part, from funded internal growth.

Equinox CEO Darren Hall stated that the deal is a platform for high-quality growth that has the flexibility for free cash flow year-on-year operational growth and expansion. Orla’s CEO, Jason Simpson, believes that the merger is a positive combination of leadership and complementary assets.

The merger should take effect in the third quarter of 2026, pending regulatory and shareholder approvals.