Hi pete11,I'm having a little nibble at these levels as well.To...

Hi pete11,

I'm having a little nibble at these levels as well.

To answer your question, IMO;

"Is it getting a JV partner that will want to do a 50/50 deal and not try to drag out any negotiations before we run out of the $45m cash?"

Wins hands down.

To put a further slight spin on what you wrote, I'd say the most important thing to keep our fingers crossed about is for management to secure the best finance deal possible.

EQX may end up with something better than a 50/50 JV, who knows. This is where Middlemas, Welborn, Farrington etc need to shine.

If EQX can cobble together off-take agreements, debt may become part of the equation. Trading houses may want to be involved. Have a look at what's occurred with Western Desert Resources, Noble & Macquarie.

Any interested party would need to wait 3 years+ for EQX to run out of money, I can't see that strategy working.

IMO the Mining Licence is almost in the bag. EQX has done mountains of work on this, been in communication with the ROC Government every step of the way, and have a fantastic in country relationship. I don't see this as a problem/issue.

IO above $100p/t would be great but, if it falls to $90p/t EQX is still very profitable considering an OPEX of $41. IMO the IO price would be a major factor in EQX's share price once close to production. The main hurdle needing to be jumped before worrying about that is finance and whether the company can secure it and on what terms.

IMO it's not critical for EQX to prove up further resources now that the latest update is out. The resource is there, and it's there to support a larger operation than 2mtpa if required. Moving the resource into JORC reserve category would help with possible partner confidence.

IMO EQX won't find any 65%fe at Mayoko. Mayoko is all about being able to get the final product up to 65%fe after a small amount of work, and with an OPEX of $41. There could be hundreds of millions of tonnes of 60%+fe at Badondo, but I don't think that will be a driver of the SP over the next year, Mayoko's development will be the driver.

IMO the major short term price driver is all about securing a partner / funding for Mayoko.

Just my thoughts!