Both Fooca and Trumpy have characterised the Hammersley deposit...

Both Fooca and Trumpy have characterised the Hammersley deposit in general terms as 'stranded' and 'worthless' in their posts.

The rationale behind their assessments appears to include (a) presumption of no demand for the product, (b) concerns about location, which leads to (c) viability.

Fooca has mentioned that he can't exactly pinpoint the exact location of the resource so that remains an unknown variable.

Commentary on lack of demand for the product falls fairly and squarely in the 'in my opinion' category, google won't tell you if somebody wants that ore.

So, my assessment is that if assumptions about demand and location that have been made turn out to be incorrect assumptions, then...

For me, I am watching the IPO results with interest. If it doesn't get away, no appetite, then that will support Fooca and Trumpy's opinions. If it is well supported, even oversubscribed, then that puts some doubt in my mind as to whether those concerns have merit.

Full disclosure - I have not subscribed to the EQN IPO.