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Clstw

I agree with what you are saying. Despite seemingly being in the right place at the right time, EQX is trading near cash backing.

Market is attributing almost no value to Mayoko despite the fact that this time last year Exxaro bought AKI for $370m and we have an almost identical project next door.

Badondo certainly is attributed no value, however I guess this is acceptable given it is still early days.

I would like to think Management are focusing on the scoping study which I am looking forward to with great anticipation. It is schedule to be out this month, and my expectation is we will see it in the next few weeks.

While it may not be the re-rate we are hoping for it could once again remind everyone that Mayoko is a low capex and low opex operation which WILL get to production.

We are lucky to have around $55m in the bank which suggests any share price downside from here will be limited.

I feel post scoping study (assuming the numbers are good which I think they will be) things may just start to heat up. We will be in a position to organize finance or a joint venture. It will also put us on the map for a potential takeover which I think is well and truly a possibility.

I am as surprised as anyone to see us trading at these levels, however to be fair all we are at present is a company with a reasonable JORC next to rail. The scoping study is going to show the world how profitable we can be and how much it is going to cost to get there.

I think almost every small cap resource stock I watch is trading pretty close to 52 week lows and you only have to look as far as stocks like AGO to see that sentiment is not there at present. However I do believe that we are potentially on the cusp of success and the springboard to this will be a successful scoping study. If we have an achievable capex and an opex in the bottom quartile of world production we are on a winner....even though it may not feel like it now.

Also speaking of the depth screen there is only about $100k worth of stock on the sell side under $1. A good scoping study and we may see that sell side eaten up! Not long to wait now.