Equinox Gold (EQX) said Friday it has completed the sale of its Aurizona Mine, RDM Mine and Bahia Complex in Brazil to a subsidiary of the CMOC Group for total consideration of up to $1.015 billion.
The company said it received cash proceeds of $900 million, before closing adjustments, and is eligible for a production linked contingent payment of up to $115 million payable on Jan 23, 2027.
Proceeds will be used to fully repay its $500 million term loan, pay $300 million to retire the Sprott loan, and make a payment on its revolving credit facility, Equinox Gold said.
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