Ann: June 2014 Quarterly Report, page-14

Hi Matt747,

A number of posts you have contributed have not been an opinion, but rather false statements of fact.

Things such as the production planned coming from a magnetite ore body, or the production target being 500kt.

These statements are incorrect and show either a deep level of ignorance for the project or a conscious decision to bait.

If you read through the thread you'd see there is more posted than "rosy blue sky stuff that clouds people's judgement." This isn't the SDL thread where that is all you post ad nausem.

A few days ago I posted thoughts on a worst case scenario of not being able to obtain funding due to the state of the IO sector.

IMO you are right that the company is trading where it is because of it's cash backing.

There is potential for the share price to fall further as the cash balance reduces if there is no news regarding funding.

It is possible that in the current climate, funding will be difficult to find.

The positive for EQX is that it has $40m in the bank and can easily get away with a cash burn of $1.5m per quarter.

This means that, in a worst case scenario of extended $80p/t prices and no funding interest, the company can easily survive without any need to dilute until macro conditions improve.

You see, that is the difference between me and you. I can happily assess these types of scenarios and share them because I'm realistic.

You further embarrass yourself talking about transport infrastructure needing to be 'miraculously running right through Mayoko-Moussondji' for the project to ever happen.

Are you aware that a railway line with a 10-11mtpa capacity runs 500 meters past the deposit, and connects to an already functioning deep water port?

Opinions are great, but all you have shown so far is that you have no idea about what you're talking about (magnetite, 500ktpa target, needs transport infrastructure), and it's great to watch the car crash in action.

Good luck!