Some support for the share price would be nice, the company really needs to push out the maiden JORC and scoping study as soon as possible, which I'm sure they'd be doing. We need some hard facts out in the marketplace to underpin the share price. The company's EV would have to be getting close to $100m, which is hard to fathom when you consider the infrastructure to move the product is already mostly in place.
Other than macro issues, can anyone see any other EQX specific issues that would explain the downward movement of the share price? Other than the delays in getting the JORC out, things still seem to be moving in the right direction. IMO the Congolese must have been happy with the recent presentations they saw otherwise they wouldn't be moving on to negotiating the commercial rail contracts. Also, regarding the port, the recent announcement said, "Equatorial and the PAPN are confident the facilities at the existing port of Pointe Noire can support the plans for initial export operations," so that looks positive. Maybe it might have something to do with the talk about starting with a low volume production capacity to start with, where the market may have been expecting 5mtpa straight off the bat? Not sure.
EQX Price at posting:
$1.53 Sentiment: Buy Disclosure: Held
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