Daytraders and MM's are the problem here IMHO
New to this Board. There is a lot of good information I have read here, and also some false information. It is hard to tell if the false information is intentional, or if it is due to carelessness?
For full disclosure I have accumulated appromixately 7% of the tradeable float (from my understanding). I have bought shares as low as $.004 and as high as $.06. Right now my Cost average is a bit higher than the closing price today. No worries here. I have continued to add on this weakness. My biggest regret was not stockpiling more when the price was at $.004 and $.005 a few weeks back. I was stunned when everytime I kept buying shares the Ask would then tick a little bit below my previous buy. In hindsight I simply wish I had went with my instinct and bought a boatload more when it was below a penny. Right now I am personally looking at present prices as chances to add more. My goal over the next week to 10 days is to further accumulate up to 10% of the tradeable float if prices remain this low or go even lower.
I have talked to the CEO about 5 times in the last month. Just my opinion but he seems to be a straight shooter. A few of my calls unfortunately have been nuisance calls because I wanted clarification after I read some things on this Board. I think some on this board are doing a disservice to others here by possibly twisting the CEO's words? Before I could even tell the CEO why I called today he blurted out that there was NO buyout! Whoever started that caused some extra grief and is causing this Board to get a bad rap with the CEO IMO. He stated for the fourth time to me that they are going after Joint Ventures so as to NOT dilute, and there is no intention as of now of selling the company. I was actually concerned about the company being sold as I think it will be worth more as a standalone. Furthermore he seems to be getting very sick of having to answer the questions about Dilution. He told me he has 100,000,000 shares of his own that he has locked in his Brief Case. He has way more money, time, and resources invested in this company than anyone here. I have a fair amount invested in this company but my ownership is peanuts compared to his investment.
I am excited about the Projects he has informed me about. They are the ones that have been discussed here quite a bit. I also have heard some of the names that are lining up as the investors as part of these joint venutures and there were some impressive names. The one thing that I have liked about this CEO is he seems to be more concerned with driving the business, and not so worried about day to day stock fluctuations. His main goal seems to be getting the Gold out of the ground and starting to churn out the Revenues and Profits like a real thriving business would. I don't think the shares being sold recently are from new dilution. There could be some shorting going on, but I think more than anything it is some daytraders playing games with the stock, and some MM's doing their tricks to shake out the weak. As said before I have decided to add when there have been the excessive drops. I want more shares, and if whoever is playing the games want to continue then I will be grateful short term. In due time this stock should run in my opinion. I look at a stock like Paramount Gold and think this one has similar Market Cap potential when everything clicks. Paramount has a Market Cap of about $90M while EQBM has a Market Cap of about $4M to $5M right now.
Sorry for the length. My post is not meant to get others to buy. In fact, I will be quite happy if some of you continue to try to daytrade and spook others. I am looking to buy some additional really cheap shares if the opportunity presents itself. I also want to close with a special thank you to the many excellent posters that have been posting exactly what the CEO is really saying. If anyone talks to Larry they will know right off the bat who is telling the truth on this Board. My hope is this Board can be a real asset to those looking to take a position in this company in the future. The more accurate the information then all the better. No need for any extra hype, and no need for any extra twisting either. Sorry for the intrusion. Carry on.
