Equinox Gold (EQX-T)

Recent projects that are not on time very disappointing (market turned out to be correct). Problems with operations elsewhere in the company also a concerned. Investors could see another equity issue - but isn't sure. Company has a lot of debt. Will continue to hold share - believes in management. 

Gold's pulled back along with the market correction of the last couple of days. Looking at the chart, steady uptrend of higher lows, quietly working its way higher. At this point, looks like a correction within the trend.

Owns shares, and is a long term investors in the company. Share prices have been punished due to skepticism on mine build out - but is recovering. Expecting a higher share price if company is able to execute on latest mine prospects. 

Their intrinsic value is rising rapidly. The stock is an interesting breakout point, possibly to $13-14. He's bullish the junior gold names and the price of gold.

Owns shares and has recommend buying in the past. Recent Northern Ontario expansion not in favor with investors. However, weakness is share price presenting a good buying opportunity. Balance sheet will be strained by recent M&A - but new assets are expected to pay off. 

It is now completing financing which gives it full ownership of a key asset, Lion Mine, which will lower the average cost of production and is in a good jurisdiction. It will be worth 60% of the value of the whole company. The stock is down because of a miss on market expectations and a decrease in production but we can expect more production in the second half. The first gold should be poured this month at the Greenstone mine. National Bank is rating it a buy because their holdings are low risk, being in Ontario. With the rising gold price, gold stocks have a chance to run up.

As the new project comes on line this should bring the operating costs down. With its higher costs this gives it more leverage to increasing gold prices.

Their Greenstone project is planned to start up middle this year, and it's on time and on budget. However, the gold stocks haven't risen along with the price of gold. In the last 40 years, the gold price has risen 34% during an easing cycle following the last rate hike of the tightening cycle. If we are entering an easing cycle, the gold price will hit $2,500. EQX has great exposure to the price of gold.

Highly leveraged to the price of gold. Generally, stock is very cheap. Would recommend a small position. Buy on share price weakness. Company is high quality overall. 

Underperformed because of operational difficulty in existing deposits and because of current large build in Ontario. Ontario and Quebec have an abysmal record for being on time or on budget. He thinks they'll make it and then the stock will rerate substantially. No dividend.

Market concern for hard rock project in Ontario.
History or development in Ontario is bad.
Market worried about project cost blowout.
Current projects are on time, and within cost estimates.
Political worries in Mexico appear to have been resolved.