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Monday, July 31, 2006 3:52:01 AM
I read your post on EZtraders and to say that EQBM will be getting 35% of $19.2M annual revenue is inaccurate. The PR stated EQBM will generate $19.2M of the total revenue equating to (35%), not $6.5M.
The PR states revenue to EQBM will be $19.2M annual/$1.6M per month. The PR DOES NOT state that OF the total of $19.2M, EQBM will be getting 35%.
With the rampup of 3 production lines to process the tailings, this project will produce solid revenues. As I stated before, EQBM saw an oppty from this project, which the big gold processors would not take time to go after. At 400M shares outstanding, with now 100M to be restricted, $19.2M a year revenue/300M outstanding shares = .0645 pps., 10 X what it is trading for now.
Best Regards,
opinion only, not a buy or sell recommendation.
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