The Globe and Mail reports in its Thursday, May 14, edition that Equinox Gold is seeking to become one of North America's largest gold producers with a $7-billion (Canadian) all-stock offer for Orla Mining, with no takeover premium included. The Globe's Andrew Willis writes that Equinox is offering to buy Orla by swapping one of its own shares and a nominal amount of cash for each Orla share. Equinox would become Canada's second-largest gold producer, behind Agnico Eagle Mines, if the deal is approved. The two miners have discussed joining forces over the past five years and began serious negotiations in January after Equinox sold its Brazilian mines for $1-billion (U.S.) and paid down almost all its debt, said Darren Hall, Equinox's chief executive officer. The companies code-named the takeover "Project Kismet, because it meant our destiny or fate was to be tied together," said Mr. Hall on Wednesday. Orla CEO Jason Simpson said his company agreed to be acquired without a takeover premium because joining forces with Equinox would dramatically increase gold production and boost the valuation to what investors award the world's largest gold miners.