Raising to Buy from Spec Buy; Price Target of $4.80
We believe that much of the value in EQX is based on the ability to develop a low capex fast-track start-up project. However with no direct evidence of significant quantities of DSO on site we had assigned a Speculative Buy rating to the stock. Now with clear evidence of DSO we are upgrading our rating to Buy as some of the speculative element has been removed.
We value EQX using a sum of the parts valuation, based on EV/ferrous resource multiples for the exploration targets for MMIP and the market value of the company’s holding in African Iron. We apply a US$1/tonne for the DSO material and US$0.50/tonne for lower grade material. This yields a value of A$4.77/sh (post a development risk discount) and we leave our PT unchanged at A$4.80.
Raising to Buy from Spec Buy; Price Target of $4.80We believe...
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Last
13.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $17.74M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 42581 | 13.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.0¢ | 138572 | 1 |
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| Last trade - 16.21pm 24/06/2025 (20 minute delay) ? |
| EQX (ASX) Chart |
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