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Equinox Gold Corp. (NYSEAMERICAN:EQX) is one of the undervalued stocks with high upside potential. On June 25, Equinox Gold announced 20-year land access agreements with the three communities hosting its Los Filos Mine in Mexico. These agreements provide a stable foundation for the company to begin restarting heap leach operations and initiate technical studies for potential expansion, including a possible carbon-in-leach processing facility.

The company is currently prioritizing environmental remediation, workforce rehiring, and supplier contract negotiations while maintaining a collaborative commitment to sustainable mining protocols. Although Los Filos holds significant mineral reserves, its production is not currently included in Equinox Gold's 2026 guidance of 700,000 to 800,000 ounces.

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Equinox Gold Corp. (NYSEAMERICAN:EQX) plans to use these new agreements to de-risk the site's development and evaluate opportunities to optimize throughput and project economics. The company intends to provide further updates as restart activities progress and technical and engineering studies advance.

Equinox Gold Corp. (NYSEAMERICAN:EQX) is involved in the exploration, operation, acquisition, and development of mineral properties in the Americas. It mainly explores silver and gold deposits. The company was founded in 2007 and is based in Vancouver, Canada.

While we acknowledge the potential of EQX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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