I wonder if off-take can be secured, whether the company could then fund the project via debt/equity/cash held.
It's going to be a very interesting few months to see what happens on the finance end.
The $255m base case figure from Morgan Stanley seems like a Mayoko only figure, meaning no cash balance taken into consideration. I'd love to see the calculations but don't have a subscription.
It's also a very strong number considering it's only for the 2mtpa project parameters. Zanaga/Xstrata and Exxaro are going to be keen to get the Point Indienne port up and running so they can expand. This means EQX's project should be able to expand from that 2mtpa in the future.
EQX Price at posting:
60.0¢ Sentiment: Buy Disclosure: Held
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