danz Maybe as we are in the twilight zone of ramping up. 2 steps forward, 2 sideways and 1 back is the nature of small mining companies moving from exploration to production.
AImonty are also doing capital raisings every quarter, they just maxed out their German debt facility, have $140m of debt & haven't got SANDONG producing yet. They will need more money to get to the production line.
And then they have to obtain high recoveries to generate the cashflow needed.
If we look at recent examples of new western mines moving into production, Tungsten West failed 3 times as did King Island (G6M). ALMONTY has struggled with Wolfram camp, los santos & panasqueira. La Parilla (W Resources) isn't producing any more. Two Canadian mines aren't producing (cantung & mactung) and before Kevin and CRONIMET arrived Mt Carbine was in this category as well.
So, recent history suggests it's bloody hard to move production. we have 2 world class mines with risk but they are further along the production curve than most others.
EQR Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
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