Pete EQX management ARE shareholders. What makes you think they do not care? The one page announcement you suggest would be pathetic and only have the effect of making the company appear desperate. That said I would like the company to send a clearer value message. Whatever management are doing they are certainly not having ANY traction in getting anyone to buy stock. As you say even at 70c there is ZERO buying support. Not sure what the investor relations and business development team are doing, but you would think Welborn would be able to convince some big buyers to get behind EQX at these levels!?! Unless of course you belive they really do not care? Does make you think something might be seriously wrong. Hopefully the Scoping Study will support a strong value for Mayoko. As for your question about getting to $3: Mayoko - Exxaro paid +$300m for their project. 2 million tonnes per annum project should be worth more than $500m.(Assuming a $50 margin and a PE of 5). Badondo - at 10c Sundance market cap is around $320 million. And that is in a terrible market for iron companies and after they have completely destroyed confidence in the Hanlong debacle. So not hard to see how drilling out Badondo could create a similar market value for a large DSO resource closer to the coast. Plenty of cash in the bank so dilution is unlikely. Which means to get to $3 EQX needs a market cap of circa $350m. I suspect management are working with that outcome in mind (in the next 12 to 18 months) rather than getting desperate about getting someone to but the shares up from 70c to 90c in the next month or so. Take a leaf out of Hitchhikers guide to the Galaxy: STAY CALM! J9
EQX Price at posting:
70.0¢ Sentiment: Buy Disclosure: Held
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