BTW I think the Hanlong move on Sundance is very positive for Equatorial.
Badondo (100% owned by EQX) may well be as big as Mbalam (Sundance's project) and is only 90km away. At this stage only a magnetic survey has been done to generate a 2 BILLION tonne exploration target with 200 to 300 million tonnes of potential DSO. If that is the case then Hanlong will snap it up in a heartbeat.
Equatorial's (EQX) market cap is around $300 million. That includes 100% ownership of both Badondo and Mayoko and 20% of African Iron and $50 million in CASH.
EQX has two 100% owned projects. Badondo could be as big as Sundance. The other (Mayoko) could be producing 5 million tonnes of DSO using existing rail and port in 2 or 3 years time.
Drilling already started at Mayoko and assys due any day.
Drilling to start at Badondo in December.
If Sundance is worth $1.7 Billion then EQX could easily be a 5 or 10 bagger from here.
BTW I think the Hanlong move on Sundance is very positive for...
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