Equinox Gold Corp. (EQX) has gradually transitioned from a small-cap in 2018 into a mid-cap by 2020 after acquiring Leagold Mining, slowly increasing its visibility among larger investment funds. While many conservative investors traditionally haven't bought into gold miners for a few reasons, e.g. gold is viewed as a non-productive asset, it's a commodity and thereby making it subject to highly cyclical boom and bust cycles, and the royalty companies, i.e. the financiers of the miners, are viewed as safer alternatives because of consistent profitability, almost regardless of gold price trends. However, the