Ann: 22km of New Strike Potential Identified at B, page-7

re: Ann: 22km of New Strike Potential Identif... Spent some time looking at this yesterday.
3 BILLION ton exploration target!
WITH a railway.
And that does not even start to count Badondo in the north.
EQX could end up with a resource inventory to rival Simandou or Tonkalili!
Market cap is still a minnow compared to rivals with similar scale.
Drilling and definition should result in re-rating representing an EV value per tone of resource closer to $1 a ton.
Do the math!
At the same time (and uniquely in Africa) management are focused (like you wouldn't believe!) on getting into production ahead of rivals. This may only be small scale start up using existing railway and port but even 2 mill tons a year can easily generate $200mill a year.
This is a 5 to 10 bagger from here:
Asset looks better and better with more upside to come
Management is ultra motivated and superb track record
Register is loaded with big names who are set for long term
Right time in the iron ore cycle and the right place

If EQX had a 3 billion shares issued like SDL they would be trading around 10cents and we would all be buying them like crazy seeing an easy ride to $1.

GMP have research out with a $6 price target for EQX.

Based on the above and including Badondo in the mix my target for EQX is more like $30 (which would be equivalent to a $1 share price if SDL capital structure).

Iron ore: "it's about the railway stupid"