I learnt after watching SDL for years that you'll surely go...

I learnt after watching SDL for years that you'll surely go insane if you try and figure out who is doing what to the share price and when.

What I will say is that EQX is very tightly held, and the price falls have been on the back of very light volume. One could speculate that the share price has been manipulated downward so that any thought of making a counter-offer for AKI is canned by management, but of course there is no way to prove this at all.

Being tightly held by insto's and management means that the company won't be palmed off cheaply to the South Africans because management and the insto's know the value of the company if it can tick off more of those milestones and move towards production. It may be a different story if the share registry was slanted more towards retail investors, as they would be panicing at seeing red and may think about selling if a low-ball offer of, say, $2.25 was to come their way. You just need to look at these boards to see that retail investors hate seeing red and can hit that panic button early, but I doubt very much our major holders (including management) will fall for such a crude trap.

Remember all of those back of the napkin calculations I did a while back used an IO price of US$100p/t, and cash flows of $300m p/a were being predicted. I see no reason why any of that has changed, we just need the JORC resource to be announced and maybe a brighter World economy outlook to get back towards $3. I'm disappointed I don't have the spare funds to inject into EQX at the minute, the South African possible bid for AKI is just another tick of approval for the area in my book, this area is going to be an important IO production centre.