11:22 AM EDT, 08/07/2025 (MT Newswires) -- Equinox Gold ( EQX ) on Thursday said it agreed to sell the producing Pan Mine, along with the Gold Rock and Illipah projects in Nevada to Minera Alamos Inc ( MAIFF ) for US$115 million.

The deal includes a cash consideration of US$90 million and US$25 million of Minera Alamos ( MAIFF ) shares.

The company said that if the equity portion of the consideration represents more than a 9.99% interest in Minera Alamos ( MAIFF ), the cash payment to Equinox Gold ( EQX ) will be increased to keep its interest under that threshold.

The transaction is expected to close in the fourth quarter of 2025, subject to receipt of all regulatory and stock exchange approvals and other customary closing conditions.

"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 ( EQX ) to drive greater shareholder returns," said Chief Executive Officer Darren Hall. "The US$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' ( MAIFF ) existing high-quality portfolio."

The company's shares were last seen down $0.01 to $9.02 on the Toronto Stock Exchange, while Minera Alamos ( MAIFF ) was down $0.075 to $0.40 on the TSX Venture Exchange.

Price: 9.02, Change: -0.01, Percent Change: -0.11