Abu Dhabi's Mubadala to invest $172 mln in gold miner Equinox
Equinox Gold Corp (TSX-V: EQX) has struck a deal to receive $172 million (US$130 million) in convertible notes from Mubadala Investment Co, an affiliate of the Abu Dhabi government. With full conversion of the notes, Mubadala would hold an 18 percent stake in Equinox. The investor will also be able to nominate a board member. The Vancouver-based mining company will use the deal's proceeds for refinancing debt, working capital and construction of Phase One of its Castle Mountain Gold Mine in California. Equinox was established in 2017 through a merger. It is also backed by Australian mining private equity firm Pacific Road Resources Funds.
26 February 2019•4 mins read
