Chanz, I think all you can do is keep the analysis simple with a shell like this. It's 100% a mgmt play, i.e. backing IM in to generate a suitable return on the $40M and knowing that you're paying slightly below that cash to buy shares in EQX.
If track record is worth anything, then you'd be backing the guy in, wouldn't you, BKY, SO4 etc
You could also talk about the sale/JV value of the io but I'm valuing that at zero in the current market.
EQX Price at posting:
30.0¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)