Ann: Quarterly Activities Report, page-13

Right you are Lukeyvee.

As I said in my previous posts I'm cautiously optimistic about this deal based on access to the infrastructure but still query why Mandalay gave up so quickly. Are we really to believe they're just giving away a multi-billion dollar resource? Why do I say multi-billion dollar? Well if you've been following GT's posts not only has he posted here about a company a few years ago missing a vein that lead to a $3 billion sale he also posted the same claims on another stock he follows in the same region. Apparently, he thinks all companies in that region are going to achieve the same results. Mandalay trades at CAD$1.25 and EQE at 0.01cents. I don't think it's being run by a bunch of dummies despite what GT might say. When EQE's SP is $1+ then you can start boasting.

Check the operating costs in that document. Given EQE will have close to 1.5 billion shares on issue from this current raise, how long do we think $4.5~5 million will last before they need more money? Are we to believe this will be the last raise before hand over of the tenement and production starts? Unlikely given management's current track record with time lines, cash burn and unexpected issues with environmental agencies, etc.

Is there any guarantee another flooding won't occur?

Also, interesting to note how Los Domos was the prized possession but suddenly it's now Cerro Bayo. He was spouting the same tune with the coal tenements. Oh it's just political. With the current coal prices a deal is bound to happen. Oh yeah? How did that turn out. Perhaps they are hedging their bets in case drilling is not reinstated.

Anyway, I would be cautious about certain people's claims. A certain person was telling people he had pre-ordered a Maserati with the number plate Equus due to a major pending announcement and that the SP was going to 80c. This was when the share price was around 5c and there was some unusually high trading activity around this time when I was first introduced to EQE. That announcement never came and the SP has continued to drift to where it is since.

Guarantee the current buying is simply a prop to sell the raise.