Also in relation to your comment: "AKI now at best is very expensive way to get complete control of the rail but..." I think EQX already is very well placed in relation to the railway.
On 23rd February 2011 AKI announced they had "extended" their Rail MOU by six months to 23 August 2011. They have not announced any subsequent extention so should we assume AKI do not have any current agreement on the rail? In any case AKI's MOU was only for current "access to the rail infrastructure" and did not seem to deal with transport of iron ore in the future at all.
In contrast EQX:
On 5th October 2010 signed a comprehensive framework agreement for a 25 year use agreement on the railway for the transport of iron ore from Mayoko to the port.
AND
On 6 October 2011 signed a Funding Agreement to allow EQX to start work on the refurbishment of the railway and includes terms on how the investment by EQX in the railway will be recouped by deductions from the future charges incurred for the transport of iron ore from Mayoko to Port.
The market seems to be missing a trick here in relation to the work EQX are doing on the ground. Look at the photos from recent quarterly and read what work is being done and the investments being made. Compare that to AKI who have been there for years longer and do not seem to be moving nearly as fast. Also EQX own 100% interest in both their Mayoko AND Badondo project and both projects are a lot bigger than AKI's. Also lots more cash. I have always assumed EQX should be 4 to 5 times more valuable than AKI.
A JORC will takle a few months and then AKI will be eating dust!
EQX Price at posting:
$1.62 Sentiment: Buy Disclosure: Held
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