As another point to demonstrate the scale and progress required to develop a resource...SDL has drilled approximately 1192 holes or 167,358 metres, EQX have so far only drilled 14 holes or 1000 metres....
Without a significant drill program which costs money, EQX wont even get a look in for funding to develop the project.
Its a catch 22 situation because they wont get and be able to maintain a mining license if they don't do a significant drill program and progress the tenement as that is usually a condition on the license.
Doesn't even look like they will even consider doing a drill program until SDLs infrastructure has been developed. They look even more stranded than SDL and are way behind. EQX may even have to relinquish the Tenement if they are not going to do anything with it. There as still some doubts whether they will successfully negotiate the mining license.
"Further exploration and development programs at Badondo will be considered by the Company
in the context of the current iron ore price and the progress of regional infrastructure developments"
