Today, mining analyst Stephan Bogner published an update on Equitas Resources Corp. (TSX.V: TO:EQT; Frankfurt: T6UN). The report includes an email from Sean Kingsley, Communications Manager at Equitas, who recently arrived on the Garland base camp in Canada’s remote north.
An early warning report was issued on the company in early September as its stock traded around 29 million shares on the TSX Venture in August, which is 69% of its issued and outstanding shares (42 million). The first 6 days of September already traded more than 15 million shares, which is around 2.5 million shares per day on average. During that time, the stock rose from $0.125 to $0.18 CAD (+44%) having a current market capitalization of $7.5 million CAD. High trading volumes are typical in advance of major maiden drill campaigns, whereas the Equitas drill speculation appears at full throttle to bet in favour of, and against, finding another Voisey’s Bay style nickel deposit up in Canada’s remote north. The start of phase-1 drill program (4,000m) is expected to be announced any day now according to the increased trading activity. An increased, high-impact newsflow during the next weeks and months is expected on a regular basis reporting on multiple drill assays and core analysis.
Disclaimer: Please read the full disclaimer within the full research report mentioned above as risks and conflicts of interest exist.