Investment Q&A

Q: Hi 5i Research Team,
I would appreciate your thoughts on today’s merger of equals between Equinox Gold (EQX) and Orla Mining (ORLA).
From an investment perspective, which company do you believe currently offers the better opportunity to participate in the upside of the combined entity? Based on today’s market reaction, valuation, exchange ratio, and expected synergies, would you lean toward buying EQX or ORLA at current levels?
Also, do you see any short-term dislocation or arbitrage opportunity between the two stocks following the announcement?
Thank you in advance for your insight.
Oscar Duran

Q: Thanks for all your good insight. I have a good position on NEO purchasing it at $10. Sold 20% of my holdings at the high this morning but wondering how high this stock may go. What is the potential for UCU. I just purchased it recently and wonder if it has the potential of NEO.

Q: What is your view on Lumina Metal (LMCU) a recent IPO by R Beaty. It is claimed to be a large copper and silver deposit in Poland with a mine to be ready in 5 years. What do you think would be a reasonable valuation today?

Thank you for your invaluable service.
Peter

Q: In response to Steven's HBM/CS question on May 11, you suggested HBM but it was not your top metals pick. Can you state your favourite 3 or 4 metals stocks by category?
Thanks

Q: Could you comment on the recent announcement by the company (May 5th) to spin out it's non-gold assets ("Spinco") and unlock their value. Shareholders get 1 share of Spinco for every 5 White Gold shares held upon completion. Shares have had a positive reaction.



Company has entered into an arrangement agreement (the "Arrangement Agreement") with W2 Critical Minerals Corp. ("Spinco"), a wholly owned subsidiary of the Company. The Spin-Out is designed to unlock the value of White Gold's non-gold project portfolio by transferring its portfolio of copper, molybdenum, tungsten and other critical mineral properties located in west-central Yukon (the "Critical Mineral Assets") into a dedicated, standalone vehicle, and spin-out the common shares of Spinco (the "Spinco Shares") to the Company's shareholders ("Shareholders") on the basis of one Spinco Share for every five White Gold Corp. shares held (as defined below), through a plan of arrangement under the Business Corporations Act (Ontario) (the "Spin-Out"). In connection with the Spin-Out, Spinco intends to complete a private placement financing for gross proceeds of up to $5news on th ecompany

Q: Is this company worth considering for the riskier portion of a portfolio?

Q: Financial results are out - what do you think - Buy, Sell, or Hold ?

Q: What is driving the Argentines to greater strength lately compared to the Canucks? Thanks.

Q: Hello 5i

ARTG reported earnings last night and it appeared decent except I was surprised at the hedging of about 50% of sales at approximately $2800/oz and another 25% at approximately $3300/oz. When did these hedges come into effect? I think they last for the rest of 2026 and the $3300 hedges go into 2027? Even with the low AISC they are leaving a lot of money on the table it appears. Is that why it is down 5% today? Also they have a dividend planned to start in 2nd half of 2026. This would be a positive I would have thought. Would you consider this stock to be a buy, hold or sell at this point?

Thanks for your advice.

Regards,

Brendan

Q: I have CS as my copper exposure. What other company would you twin with CS to cover the base metals? And a brief reason why.

Q: Silver Viper Minerals Corp (VIPR)

Buy, No, Forget about it?

Thank you.

Q: REMX and REXC Could you compare these two, and is there a preferred one?

Q: Good morning,

Could you please offer your insights post news release which featured a number of their drill results with apparently more to come in June.

Thanks you,
Brad

Q: selkirk copper

I am interested in copper plays, have beem burned a few times, cost over runs flooding etc. I saw an ad blurp on bnn. They are starting an old mine (minto I think). How do you feel about this one? I guess if they don't increase the resource it will be a good buy Charlie, worth the risk?
Thanks
Auftar

Q: Hello 5i,

We have a combined position of 2% with XBM (25%), MP, 25%) and REMX (50%). Is there a stock or ETF that should be added to this suite as we may be light on copper, nickel, cobalt, or other minerals for battery and AI growth. If we were to increase the combined position to 3% or 4%, would you increase one more over the others?

Thank you
D&J

Q: I'd like to increase investment in Materials. I currently hold Nutrien and VNP.
Considering AEM or WPM .
Please rate these and suggest other options.

Q: Which of NTR or CS do you prefer?

Q: Is there any indication of when Ucore will begin production at it's Louisianna plant?Would you consider it a buy today or more of a wait and see?

Thank you

Q: What is your view of holding IAUI etf as a portion of gold exposure. Thanks, Janet

Q: I do not have any mid to long term investment in the mining field. Any suggestions?