- WORLD EDITIONAustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
In a move to further expand its copper portfolio, Equinox has decided to separate its gold and copper assets by creating Solaris Copper.
Equinox Gold (TSXV:EQX,OTC:EQXGF) is looking to expand its copper projects in Chile, Ecuador, Mexico and Peru by parting its copper and gold assets with the creation of spin-out Solaris Copper, the companyannouncedon Thursday (June 21).
All of the company’s copper assets will be transferred to Solaris, which will not initially be listed on a public stock exchange, and its ownership will be split 60/40 between Equinox Gold shareholders and the company respectively.
“Solaris Copper will control a portfolio of very promising exploration-stage projects located in world-class copper districts,” said Ross Beaty, chairman of Equinox Gold.
“Creating a standalone copper-focused company should give these projects the visibility and attention they deserve. With large copper deposits already identified, exceptional exploration upside and optionality from multiple properties, Solaris Copper represents an exciting growth-focused copper story,” he added.
According to the company, by separating the gold and copper assets, there will be a two-fold of value created for shareholders.
“Creating Solaris Copper to hold and advance Equinox Gold’s copper assets acheives another milestone in the business strategy we communicated to shareholders when we created Equinox Gold last year,” said Christian Milau, CEO and a director of Equinox Gold.
She added, “[w]e are creating value for Equinox Gold shareholders on two fronts now, with Solaris Copper providing exposure to rising copper prices while Equinox Gold offers substantial leverage to gold as we advance Aurizona and Castle Mountain to production.”
Solaris Copper will own 100 percent of the Warintza copper–molybdenum project in Ecuador, 60 percent of the La Verde copper–silver-gold project in Mexico and 100 percent of the Ricardo early-stage copper property in Chile.
Additionally, the company has also negotiated earn-in agreements for two early-stage copper prospects in Peru, and will continue to evaluate additional properties that may fit into its expanding copper portfolio.
All together, the projects consist of 3.7 billion pounds of copper in the measured and indicated category with an additional 4.6 billion pounds of copper in the inferred category.
Managing operations will be Greg Smith, who will be CEO, Kylie Dickson as CFO and Pamela Kinsman who will take on the position of corporate secretary. All three individuals will also continue with their Equinox Gold responsibilities.
As of 3:34 p.m. EST on Monday (June 25), Equinox was trading at C$1.02.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article.
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.