eqx stock price , page-11

"could mean exarro overpaid or that the environment has changed in a big big way"

For IO, of course it has. You only need to look at the charts of the companies I mentioned since mid-February to see the change in sentiment. The thing about sentiment is that it works in swings and roundabouts. In 6-12 months time, we might see that the Chinese, South Americans, Indians & SE Asians may absorb the extra IO coming online and the price stay strong. The US and Europe may continue to recover, with demand for steel increasing in those areas. I obviously didn't expect the share price to fall this far, but I think it's a little overdone because most of us realized the IO price was going to come down to $90-$100p/t at some point (it's still in the $130's but predicted to fall in 2014), and used those types of IO sale numbers in our calculations. Using those figures the project should still be very robust, EQX won't need an IO price of $100+ to be profitable. That's the key point I think, EQX won't need a price above $100p/t to survive, and none of my calculations had been using anything higher than that price out of expectation of a price drop.