True. However, that is Equinox's ONLY project, albeit a...

True. However, that is Equinox's ONLY project, albeit a significant one. If copper remains range bound in the mid to low $1 range, Equinox is in a lot of trouble. Their balance sheet is scary and with $0.80/pound cost per pound in their development case (which is likely too optimistic), then this could be an ugly couple of years for them. Equinox is a much more risky company - they aren't even in commercial production.

Remember, if a company like Equinox sits on a 40% project, they have NOTHING. OGC has (had) the luxury to wait for a decent deal or arrangement as they have operating mines producing cash flow.