What would you describe as 'a legacy shareholder'? What would describe as investing in a shell?? I would describe someone that started buying at 32c when cash backing was 32c as someone investing in a shell. However I would also describe someone that started buying at 32c WAY BACK in 2014 as somewhat of a legacy shareholder????
Since that initial purchase I have bought EQX on 13 different occasions so its fair to say I am investing in a shell and backing the management....and now have a reasonable holding. I have managed to get my average entry down to 23c.
But fair crack of the sausage...it has been 8 years and 1/2 the cash was blown on a related company..so I think the current management has MASSIVE QUESTION MARKS against them. Sure they have a reasonable track record within the industry...but in EQX it is almost criminal how long nothing has happened and 1/2 the cash was blown.
I also question when they had $40m cash, cash burn was effectively ZERO...Now EQX has under 1/2 that EQX are burning $500k a quarter.???? Hopefully that indicates they are looking at projects.
I could give you a long list of cheaper shells (enterprise value) out there.
Ann: Notification regarding unquoted securities - EQX, page-14
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Last
13.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $17.08M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 86866 | 13.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.5¢ | 4000 | 1 |
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| Last trade - 11.16am 17/06/2025 (20 minute delay) ? |
| EQX (ASX) Chart |
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