Ann: Equinox Resources IPO Prospectus Lodged, page-85

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22/09/21

13:52

Post #: 56265818
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Originally posted by Justadabble ↑

Hi Sharetime,

Firstly, I am not doing "well" at all. I have simply pointed out the worst case scenario for EQN has been well documented by posters and that no thought has been given to the best case scenario. My principal company related question was "what if these assumptions are incorrect"? Your post is predominantly the worst case scenario re-articulated.

To the new points:-
1. PF1 holders were not given the choice to fund Hamersley but they supported the creation of EQN at the SH meeting, which democratically ratifies the board decision.
2. Any SH who has upped their stake on Hammersley by participation in the EQN IPO has paid $0.20/share for the privilege. PF1 SH benefit from that cash injection without dilution, I don't see any actual loss here.
3. "Most of the options you list are currently available to them now in terms of divestment" - disagree.
4. "unless you are one of the lucky ones receiving consideration for the EQN IPO" - I don't understand this comment, can you please elaborate?

Just in case you missed it, I repeat my disclosure - I have not subscribed to the EQN IPO. For total clarity, let me add to that - I will not financially benefit in any way from the EQN IPO.

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My opinion on you doing "well" is just that, my opinion. And I still think you are doing "well" in your efforts to paint a rosier picture here. Would be easier if you had something positive to work with...but you don't.

1. Was never a doubt the friendly register was going to vote in favour of the divestment. To be clear, PF1 holders did not vote on the "creation of EQN" at the SH meeting. It was created on the 26th May for the specific purpose of being a vehicle for this transaction.

2. "PF1 SH benefit from that cash injection without dilution" What cash injection? All the monies raised go to EQN. And a reduction from a 70% interest to circa 40% interest looks and smells like dilution to me

3. n/a

4. Consideration shares to lead managers and directors etc

Whats your thoughts on the supplementary prospectus that was released on the 7th September? ASIC asking questions already? That would be a good look.... Why hasn't it been released here?

PF1 Price at posting: 36.0¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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