Equatorial Resources stock was higher yesterday, but it’s still not clear if the company might try to cash in on the recent run in its share price by raising some money to bolster its $40 million in reserves and increase its chances of speeding up development. Sources close to the company have not ruled out this possibility.

It’s also interesting to note Anglo American, whose flagship Sishen Mine once belonged entirely to Exxaro and is now 20 per cent owned by Exxaro, is rumoured to have been sniffing around Equatorial for some time.