Ann: June 2018 Quarterly Report, page-5

Greko...Don't you mean value Trap...

Hasn't the mining licence expired..I wonder how long ROC is going to let this one go before it takes the tenement back...It was extended for the second and last time for a further 2 years in Dec 2015 which means it officially  expired in Dec 2017...u would think the governments goodwill will surely run out soon...

My understanding is that the government will only officially approve the mining licence at Badondo once they see progress in relation to the development of the tenement...EQX have not commenced any significant drill program etc so that is why I think it has not been officially extended, or decreed into law.


Annual Report 2017


Quarterly report June 2018
In November 2016, the Company lodged a Mining Licence Application ("MLA") for Badondo. Under the terms of the ROC Mining Code, exploration licences are granted for an initial 3 year period and are then capable of being renewed, upon application, for two further periods of two years. The Badondo Exploration Licence was renewed for the second time by Government Decree dated 7 December 2015. According to the ROC Mining Code, if an exploration licence expires before a decision is made by the mining administration in regards to a MLA in respect of that exploration licence, then the validity of the exploration licence shall be extended. On 22 November 2016, Equatorial lodged the MLA for Badondo based on completed exploration work in order to position the Company with a 25 year right to mine at the project. During the quarter, Equatorial continued to work with the Government with the aim of securing the Badondo Mining Licence. They have been saying the same thing for years.

GLTA-dyor