Yes. The EQN board are now tasked to endeavour to overcome the challenges. This is outlined in the announcement viz:-
The ore that would be drilled provides for the best potential solution to investigate an economic mining scenario – but the Project must be drilled, analysed, modelled, and studied to understand if there is an economic and technical solution. No analysis can be undertaken unless a drilling program has been conducted on the Project. For the reasons set out above, the increase in iron ore prices may in the future result in the Project being material to the Company, but this would only be known if the Company were to undertake a significant exploration program (beyond the 7 hole drilling program which has been disclosed to the market).
I am not suggesting that these challenges have at this point been overcome. But I am wary when posters categorically eliminate that outcome based on assumptions on yet to be quantified variables. As I said, I will be watching the IPO carefully. The heart of my reason for posting remains 'why', I still am none the wiser, the 'vindictive' explanation remains the most likely based on my limited reading.
PF1 Price at posting:
34.0¢ Sentiment: None Disclosure: Not Held
