Equinox Gold has sold its 100% interest in the Pan gold mine, Gold Rock project, and Illipah project in Nevada to Canadian developer Minera Alamos for a total consideration of US$115 million.
“The sale of our non-core Nevada assets reflects our commitment to portfolio optimization and disciplined capital allocation. This transaction simplifies our business and allows the team to focus our efforts and capital on core operations and key development opportunities, positioning Equinox Gold to drive greater shareholder returns,” explained Equinox Gold CEO Darren Hall.
“The $90 million in cash proceeds will strengthen our balance sheet, and the significant equity ownership will provide continued exposure to the upside within the Nevada assets as well as to Minera Alamos’ existing high-quality portfolio.”
If the equity portion of the consideration ($25 million) exceeds a 9.99% interest in Minera Alamos, the cash payment to Equinox Gold will be adjusted so that Equinox Gold does not own more than 9.99% of Minera Alamos shares issued and outstanding at closing.
The transaction is expected to close in the fourth quarter of 2025.
Pan is a Carlin-style, open-pit, heap-leach gold mine located along the Battle Mountain–Eureka gold trend. It estimates production of 30,000-40,000 ounces of gold in 2025.
Source: Equinox Gold