Who took my Iced vovos, page-45

Hi all,

I don't think we are able to compare the situations of SDL & EQX, simply because they are at different stages and facing different conditions.

taboon I disagree with your assessment of EQX's strategy though. The company is waiting until a transport solution presents itself around the Badondo area, and this is the smart thing to do IMO.

Drilling Badondo now won't provide any value to shareholders because it's still a stranded IO deposit in a bear IO market. Simply look at SDL's market cap for proof of this. 775mt+ DSO and billions of tonnes of itabirite, but a market cap of only $59m. Without a transport solution the deposits are basically worthless in this environment.

EQX's cash is not drying up either. $37m in the bank, $500k spend this quarter versus $300k+ interest income means a net cash burn of $200k. If you want to look at cash drying up then SDL is the one to be discussing. This is not analysis, it is simple fact.

Cheers!