Hi Squidd, given the prevailing global environment and depressed IO price for the forseeable future, I think EQX should at least consider (at some stage if there is no means of progressing) using the bank balance in returning capital to shareholders instead of trying to tough it out in a long hard slog.
It is already trading way below cash backing. With cash depletion and I doubt any hope of securing funding in getting a low grade resource with negligible output of any consequence, I can't see a good outcome.
If iron ore price is back in the 2013'ish level, then the sitaution may be nice and dandy.
Can't see debt funding going forward for anything other than low cost curve resource like the Big 3.
Good luck.
EQX Price at posting:
28.5¢ Sentiment: None Disclosure: Not Held
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