Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-194

I'm surprised this announcement hasn't created a little more commentary. EQR has posted the announcement on their linkedin page.

Reading between the lines. This is a pretty significant step.

1. EXIM Bank is the US Govt and they put out a press release on their website after the visit, so the Qld delegation obviously impressed them. It wasn't the Qld Minster bragging he was in DC.
2. They invited the Qld Natural Resources Minister to Washington to discuss critical minerals. It wasn't the Australian minister, it wasn't the TAS NT NSW WA or Vic minister. It was Minister from Qld.
3. In the press release they talked about critical metals and their eagerness to engage referring to including tungsten, gallium and germanium. The press release only referred to 3 metals and it wasn't in alphabetical order. Tungsten was mentioned first, so there is a fair chance it got a reasonable airing.
4. Qld Govt has been a long time supported of EQR and the economic development it can provide at MC and Wolfram.
5. We have an offtake agreement with Elmet which classifies us as a US domestic producer and EQR is on the list of approved companies to supply to defense. DIBC.

Additionally
China is likely to place more export restrictions in light on Trump's 10% increase on tariffs today.
Europe looks like they might be finally get their shit together. Germany planning on a $1tr defense and infrastructure spend, plus others. We are already talking to various European players (part of ERMA).

So, I think there are lots of moving parts which could also see a rise in price. So, while there a few players promising production. We have the material that's wanted NOW.