I’m curious—what implied value does this suggest for the Nimba Alliance Iron Ore Project in Guinea, West Africa? While everyone should conduct their own due diligence, I estimate that this iron deposit is worth at least $5 million (especially to the neighbors). In my view, this, combined with the company’s cash position, fully supports the current market capitalization. Unlike most similar situations, an award worth a multiple of the market cap is not just highly likely—it is almost certain. Unfortunately, the real risk is Congo Brazzaville and how to ensure they follow through on the payment. That’s why I’m long, but not stupidly so.
EQX Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
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