production this year?, page-43

Yep good move from the company.

No huge amount debt required and probably no dilution.

Can't wait to see the scoping study as it will show Capex and Opex numbers.

Personally I see OPEX as key. If our total cost of production can sit at $50 or below we will sit very low on the cost curve. Even looking at a bearish long term price of $85 if we produce 5mtpa at $50 or under we will have around $200m EBITDA. This justifies a market cap many multiples of where we are today.

Total cash costs of FMG, AGO, GBG and MGX sit around $70-80 per tonne. They NEED an Iron Ore price of $100+ just to stay viable.

I one of the reasons the market is discounting EQX due to the fact that we are in the ROC. I think eventually this will allow us to trade at a premium as not only is the country politically and economically stable but the wages and salaries are a fraction of what we pay in Australia.

There will be no $150k a year for a truck driver on site in the ROC.