the Chinese economy is in trouble and they are the biggest...

the Chinese economy is in trouble and they are the biggest driver of of the steep prices. I should know as I own 2 steel manufacturing plants in sth East Asia. There are semifinished goods that are being offered at steep discounts by manufacturers as domestic demand has dropped. As they flood the export market, they will ultimately bring the world market down with them. So the nnext few months is critical. However, iron ore bulk commodity market vs the rare earths markets, whilst there are links to the construction sector depending on the REE, the REE is a critical mineral that is already dominated by China and can easily be rectified if reliable supply and processing comes on board. At the moment the western nations have no choice but to buy from China to prevent them lagging behind. This can change if premium suppliers emerge such as the ultra high grade potential in bre or in Mei/vmm ( if they can increase the ultra high grade aspect).
so I do agree the iron ore sentiment will impact market valuation In the short term and potential benefit to shareholders but section 18 c is critical to take the step forwards as whilst the First Nations issue is pending, there will be difficulties in gaining commitments from 3rd parties to invest in the project. Eqn cannot go in this alone - it either needs a jv or sell it.
the nearology to bre is important as bre is potentially one of the few viable projects at these depressed ree prices. We have seen a 15 percent rise off lows in the last month to 54 k usd/kg nd-pr as we approach the seasonal peak for ree. So an improved sentiment can only benefit eqn.