$ORLA Expects 340,000–360,000 ounces of gold production in 2026 after exceeding 300,000 ounces in 2025, driven by the Musselwhite and Camino Rojo mines,…
2/8: Equinox Gold (EQX) reports Q2 2026 production 176,836 oz; Canada output +11% QoQ with Greenstone+Valentine 97,273 oz; shareholder vote July 22 on Orla Mining stock-for-stock deal (1.0 EQX share per ORLA) $EQX $ORLA $GDX $GDXJ
PickAlpha View: the story stays operations-driven near term, with Canadian ramp-up metrics doing more for EQX sentiment than the pending Orla consideration mechanics. Next key monitor is the July 20 proxy deadline and July 22 vote...
$EQX $ORLA (3/3) Combined EQX + ORLA story:
The combined story is getting even stronger. Equinox produced 176,836 oz in Q2 and Orla produced 88,265 oz, giving a pro-forma Q2 run-rate of about 265,101 oz, or roughly 1.06 Moz annualized. That supports the merger case of creating a ~1.1 Moz North American gold producer.
The mix also improves: Orla adds Musselwhite, a strong Canadian producer, while Equinox’ Greenstone and Valentine continue ramping up succesfully.
New Equinox becomes larger, more Canadian, more cash-rich, and operationally higher quality. Orla also confirmed the transaction remains on track for Q3 2026 closing.
$EQX $ORLA (2/3) ORLA production update:
Orla delivered a strong Q2 update. The company produced 88,265 oz of gold in Q2 and 169,471 oz in H1 2026, keeping it on track for full-year guidance of 340k–360k oz.
The key positive is Musselwhite, which produced 67,077 oz in Q2 and 130,062 oz in H1, driven by better stope sequencing and stronger underground development rates. Camino Rojo also normalized after a brief labour stoppage.
Orla also has a strong balance sheet: US$451M cash, US$132M debt, and US$319M net cash. Guidance remains intact, including AISC guidance of US$1,550–1,750/oz.
$EQX $ORLA (1/3) EQX production update:
The right ounces are growing. Canadian production from Greenstone + Valentine increased to 97,273 oz, up from 87,402 oz in Q1, or roughly +11% QoQ. Greenstone keeps improving operationally, with more days above nameplate mill capacity, while Valentine ran at 113% of nameplate throughput.
The productionmix is becoming more profitable: Valentine is a low-cost asset, Greenstone is lower-cost than Nicaragua/Mesquite, and more Canadian ounces should reduce average AISC.
Q2 headline production was not spectacular, but the quality of production improved. That supports stronger H2 profitability when Greenstone and Valentine continue scaling.
$ORLA I just received the proxy vote form in the mail for my 10,000 shares. Tell me why I want to receive an equinox Share worth $13.71 in exchange for my Orla share which is currently worth $13.71 and has gone down 40% since I bought it just a couple of months ago do we really believe that the resultant company is going to go back to $25 anytime soon
$ORLA Also a great moment for Orla shareholders:
https://www.equinoxgold.com/news/equinox-gold-secures-long-term-land-access-agreements-with-all-three-communities-at-los-filos-mineplanning-and-technical-work-underway-to-support-mine-restart-and-annual-production-expansion/
