Taylor says buy Equinox Gold

2020-01-29 20:40 ET - In the News

Jay Taylor, in the Jan. 14, 2020, issue of Gold, Energy & Tech Stocks, says buy Ross Beaty's Equinox Gold Corp., recently $10.97. Mr. Taylor previously said buy four times from Dec. 14, 2016, to Aug. 14, 2018, at prices ranging from $1.09 to $1.76 (the stock rolled back 1 for 5 on Aug. 20, 2019). Assuming a $1,000 investment for each of the four buys, the $4,000 position is now worth $6,812. Mr. Taylor describes Equinox as nothing less than the "crowning jewel" of the entire career of "legendary mining billionaire" Mr. Beaty. The company owns gold mines in Brazil and California, and is about to gain additional mines in Brazil and Mexico through its proposed takeover of Leagold Mining. Closing is targeted for early 2020. Equinox has arranged a $670-million (U.S.) financing as part of the deal, and should have about $270-million in cash at closing. The combined company is forecast to produce 700,000 ounces of gold in 2020. Mr. Taylor expects that "the very egotistical, successful and driven Ross Beaty" and his "first-rate team" are already thinking of ways to push production past the one-million-ounce mark. Repeating his "crowning jewel" remark one last time for good measure, Mr. Taylor ranks Equinox a buy.

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