Its usually a good idea to to hold or buy the stronger stocks...

Its usually a good idea to to hold or buy the stronger stocks (like MMB) and dump the weak ones. Typical speccies that I hold are down 50% or so from their tops. If EQN has dropped 80% my guess (I don't know the stock) is its a high cost producer and possibly one of the first to shut down if prices keep falling. Good grades, and a unique (on ASX) geographical situation give MMB an advantage in this price environment. If the resource is good funding a mine won't be an issue.

As you say the maths is irrelevant - the market price for MMB is 32c. I don't like your chances of buying back in at 7c, perhaps you can scare some punters into dropping theirs but I doubt it.