re: News: Building the next iron ore province...
$2.50-$2.60 is a great price I think. We have those all important assay results coming shortly, which could give the share price a little kick along. I'd be adding substantially more if SDL & Hanlong could get their act together and announce this takeover! I'll be looking at moving some more funds into EQX next week, not as much as I'd like to have got in before the assays, but some more nonetheless.
One part of me is thinking the assays will provide a spike in share price, but the other part is thinking the market may already have good news priced in. AKI results pretty positive assays to the market not long ago and it didn't move, so I wonder if EQX may be in the same boat. Thoughts?
In any event, we still have a long term buy here. Market cap of ~$300m for a company that's going to be producing at least 5mtpa DSO from Africa, in 24 months? Come on now, free cash flows per year will be at least $300m I'm thinking.
EQX Price at posting:
$2.58 Sentiment: LT Buy Disclosure: Held
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