Speaking at the Denver Gold Forum at Colorado Springs, Milau said Equinox expected to close the transaction next month, adding a heap leach operation that produced 65,000oz at AISC of $865/oz in the first half of this year to the company's portfolio.

Equinox is building the 136,000ozpa Aurizona gold mine in Brazil, which is expected to start production next year, and is aiming to bring the first-phase, 50,000ozpa Castle Mountain project, 200 miles north of Mesquite, on line in 2020.

Beaty has spent more than $30 million since October last year building a 12% stake in Equinox.

Mesquite vendor New Gold (TSX/NYSE American: NGD) has guided for 2018 production of 140,000- 150,000oz at an AISC of $1,000-$1,045/oz at Mesquite, and Milau said the operation was on track to meet or beat the forecast.

It had produced an average 135,000ozpa over the previous 10 years.

"Mesquite brings us immediate cash flow and production from a long-life mine," Milau said.

"It adds a third leg to the stool, with our second producing mine on the way."

Mesquite has 1.13Moz of reserves grading an average 0.54gpt, and 1.18Moz at 0.48gpt of resources, adding 25% to Equinox's current reserve base.

It has yielded about 4Moz of gold since 1985.

Equinox, which has about $65 million in the bank, announced a $75 million equity financing to part-fund the Mesquite deal.

It has a $50 million capex ahead for the Castle Mountain heap leach project, which Milau said was permitted and expected to be in production by late 2019, with ramp-up through 2020. Subject to Equinox identifying and securing additional water supply, the plan was to significantly scale up production to more than 200,000ozpa in subsequent years.

The historic mining district has 3.6Moz of proven and probable reserves.

Equinox has a current market value of about C$440 million, with its shares trading off highs around C$1.39 at the start of 2018, at 99c currently.

Milau said the company was focused on strategic growth and continued to assess acquisition opportunities despite the fickle gold and equity markets.

"When the sector does turn we will be well positioned to take advantage," he told the conference.