Recently formed Equinox Gold (TSX-V:EQX) announced that its board of directors approved $146 million for the full-scale construction at the Aurizona Gold mine, located in the Maranhão state of north-eastern Brazil.

With the idea of pouring gold in late 2018, the company says it has already spent $25 million advancing detailed engineering work, raising the existing tailings facility, refurbishing existing plant infrastructure, conducting civil earthworks and pouring foundations to prepare for the installation of new plant infrastructure and administrative buildings.

“This will be a milestone year for Equinox Gold as we advance Aurizona and transition the company from a developer to a meaningful producer, with more than 135,000 ounces of annual gold production expected," CEO Christian Milau said in a press release.

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