$EQX

Metals and mining stocks fell sharply as copper, gold, and silver prices dropped. Copper prices declined 5.3% after reports that the White House delayed copper tariffs. Freeport-McMoRan (FCX) fell 7%, Teck Resources (TECK) dropped 6%, and Southern Copper (SCCO) lost 6%. Gold and silver also saw significant declines, with gold down 1.6% and silver down 5.9%. The selloff follows a strong August rally for mining stocks.

The TSX fell 276 points to 35,994.49 on Tuesday, with miners like Barrick, NovaGold, and Equinox Gold declining. Manufacturing PMI in Canada decreased to 53 in August. The TSX Venture Exchange also retreated. U.S. markets fell due to inflation concerns and rising bond yields, with tech stocks leading declines.

Federal Reserve Chair Kevin Warsh's hawkish remarks on inflation caused a sharp decline in precious metals mining stocks. First Majestic Silver (AG) led the drop, falling 5.09%, while other miners like AngloGold Ashanti (AU) and Barrick Mining (B) also saw significant decreases. Warsh's comments pushed up interest-rate expectations, increasing the opportunity cost of holding non-yielding assets like gold and silver.

Gold prices fell 1% to $4,649.10/oz after a hotter-than-expected US inflation report, retreating from a three-month high. Spot gold is still up 14% in August. Silver also declined. The Fed's preferred inflation gauge, PCE, rose 3.7% YoY in July, above forecasts. Investors await Fed Chair Warsh's speech at Jackson Hole for further rate guidance. Gold's recent rally was driven by US Treasury bond market intervention and ETF inflows. Miners like Agnico Eagle and AngloGold have seen significant gain

Simply Wall St says Equinox Gold (TSX:EQX) received a positive Record of Decision for its South Railroad project in Nevada, completing federal permitting under NEPA and starting early construction, while filing state permits and water rights. The article also cites higher quarterly sales and net income and a 50% dividend increase, and includes 2029 forecasts of $3.3B revenue and $939.8M earnings.

Equinox Gold (EQX) said the US Bureau of Land Management issued a positive record of decision for its South Railroad Nevada mine, completing the NEPA permitting process. Engineering is 55.2% complete. Equipment is expected by year end, with mining in spring 2027 and first gold in 2028. 2026 feasibility study forecasts 130,000 oz/year (first 5 years).

Equinox Gold says it has cleared US federal permitting for its South Railroad open-pit gold project in Nevada after the Bureau of Land Management issued a positive Record of Decision. The project is in the FAST-41 program and follows Orla Mining’s Notice of Intent. Equinox plans a US$395 million mine producing ~100,000 oz gold annually, with initial mining in spring 2027.

Equinox Gold said the US BLM issued a Record of Decision completing federal environmental permitting for its South Railroad gold project in Nevada, enabling early works and targeting first production in 2028. The company is also pursuing state permits and water rights. South Railroad is forecast at ~104,000 oz/year for 10 years, with NPV US$783M (5% discount) at $3,100 gold.

Equinox Gold Corp. said the US Bureau of Land Management issued a positive Record of Decision for its South Railroad Nevada project, completing the NEPA permitting process. Early works construction has started and state permits and water-rights applications were filed. The open-pit heap leach mine is forecast to produce ~130,000 oz gold annually for five years, with $395 million initial capex and first gold targeted for 2028.

Simply Wall St says Equinox Gold (TSX:EQX) is reacting to stronger quarterly results, higher 2026 production guidance, a higher dividend, and approval of Phase 2 expansion at the Valentine mine. It cites CA$16.10 last close versus a CA$25.22 fair value, calling it 36.2% undervalued, and notes a 27.4x P/E versus peers at 15x.