I would of expected a larger increase in the SP on these two announcement and 2013 highlights...SP has not been able to break through the long term resistance and it now looks it may be back in bearish trend territory....IMO the market is very unconvinced that there will be any further value in the SP for a long time to come...
But when you look at the resource a 2Mtpa IO project does not really excite the market as there are plenty of other much more significant projects around....The large scale projects are getting all the attention at the moment...if IO market turns bearish these small projects will be the first to fold...
Given the relatively low number of shares on issue at the moment it almost appears that this recent increase in SP was an orchestrated pump, still waiting on the dump...
EQX Price at posting:
58.0¢ Sentiment: ST Sell Disclosure: Not Held
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