Equinox confirms new leadership as Orla merger finalises
TSX- and NYSE-listed miners Equinox Gold and Orla Mining have completed a merger to create North America's new senior gold producer, producing 1.1-million ounces of gold a year.
The combined company has a clear development pathway to produce more than 1.9-million ounces of gold a year, leveraging a portfolio of high-quality producing mines, a peer-leading pipeline of growth projects, substantial free cashflow generation ability and highly experienced leadership and technical teams.
The combined entity is now the second-largest producer of gold in Canada, with highly complementary assets in the US, Nicaragua and Mexico.
The combined free cash flow of the companies is expected to be $1.4-billion in 2026.
"The combined company can deliver advantages neither company could achieve on a standalone basis, including increased scale and liquidity, lower risk, peer-leading production growth underpinned by a sizeable mineral reserve endowment, and stronger free cash flow, providing significant re-rating potential," Equinox outgoing CEO Darren Hall says.
Upon closing of the transaction, Ross Beaty has stepped down as chairperson of Equinox and has been appointed Emeritus chairperson, but remains available to Equinox as a special adviser.
Chuck Jeannes has been appointed chairperson of Equinox, saying the completion of the Orla merger marks the start of an exciting new chapter for Equinox.
"Together, we have created North America's new senior gold producer with over 60% of production coming from three long-life mines in Canada, complemented by a portfolio of high-quality operations, a compelling pipeline of growth projects and the financial strength to create long-term value for all shareholders," he states.
Meanwhile, Hall will retire from the Equinox board at the end of October and hand over the reins to Jason Simpson, who Hall says understands the business and has earned the respect of teams across the organisation.
The remainder of Equinox's reconstituted board consists of Lenard Boggio as lead director, Tamara Brown, Omaya Elguindi, Douglas Foster, Blayne Johnson, Rob Krcmarov, David Stephens and Mike Vint.
Equinox will provide additional information about the proforma benefits of the merger, including the consolidated 2026 production guidance, when it reports its second-quarter results on August 5. Orla's shares will soon delist from the TSX and NYSE.
