I think we will see it back above the $1.20 mark before the end of the day. Looks like a forced seller took it down to $1 and it's making it's way back.
JW has indicated to me before that he believes the downward price movement was due to a re-rating of the IO industry in general. The gloss has come off the sector as it prepares for more supply to hit the market. As supply increases we will see the IO price go down, and profits squeezed somewhat. Take a look at AGO's chart and consider it's an Australian IO producer. EQX is currently an African IO hopeful. Chubbito's WDR comparison a month or two ago was quite a valid one I think.
The market wants to at least see studies and CAPEX plans before EQX gets re-rated IMO.
EQX Price at posting:
$1.16 Sentiment: Hold Disclosure: Held
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