That is an interesting take, I never thought down that path.
I thought with $24M cash they may acquire a semi developed play with JORC and mining license (or close to it) and keep $10M or so in cash for exploration.
I can see your reasoning though. Go for something a bit bigger that will generate revenues, free up the illiquid register with another $10-20M of institutional money. That would be a sizeable acquisition in that case.
Is there anything else on your horizon? Perhaps if you didn't want to cross promote just tag me in the other threads. I've learnt that the Middlemas team takes their time. I am a LT investor and as long as you're buying things as negative EV I don't think you can go wrong.
EQX Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
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