Hi Squidd. EQX could spend some cash on drilling the best areas...

Hi Squidd.

EQX could spend some cash on drilling the best areas of Badondo and ride on the coat tails of any Funding and share price appreciation SDL could get in the next 12 months, or go the way you are suggesting and hold on to their cash for 12 to 24 months and see if the market turns.
From your posting on SDL you seem to think there is No likely hood of Iron Ore recovering for at least 4 to 5 years.
Come on Squidd, SDL have not been in a position to get Funding realistically until they got their Conventions and one mining Permit, so more like 12 to 18 months.

Sundance Resources, Core Mining, Equatorial Resources, Belinga all with High Grade DSO and HUGE amounts of High Grade Itabirite Concentrate and Pellet Feed at around 66% to 69%Fe. Looking to have a dedicated Iron Ore Rail System and Port complex for 300,000DWT Ships. Well over 100 years of iron ore extraction.
How would it be hard in trying to sell +62%Fe DSO, and Concentrate and Pellet Feed at 66%Fe to 69%Fe? The Pilbara is running out of High Grade DSO, do The Pilbara have 66 %Fee to 69%Fe Concentrate and Pellet Feed?
Mayoko with 35%Fe beneficiated to 65%Fe, leasing a Rail Line and Port.
Take your pick which is going to be a better proposition in the long run.

How many years will Mayoko last?
If EQX leave it for 10 years to save enough cash from Mayoko to be able to fund Badondo's drilling cost's and all other items like Environmental Studies, Conventions and so on, there will be NO room left on any Rail or Port systems for Badondo.
EQX needs to be one of the first movers in the area of Badondo.
You only need to look at the costs that SDL have had to out-lay to get an idea on costs for Badondo. It will still cost EQX in the 100's of $millions for Studies, Permits, Conventions, Flyovers of the tenement and Drilling.

By the time EQX save the cash from Mayoko they will have missed the boat.

Just my personal opinion. Not knocking EQX, Badondo I believe will be a very good project/tenement.
Spend $15 to $20 million and save the other $20 million for later.

Regards
Westcott.