I agree with your assessment Gopher. There is plenty of upside. A previous director told me, he thought there was another 10 to 30 years production in the Iron Duke as there are old diggings and you can see the tungsten in the ground using a blue ray light.
My NPV estimate is based on current resource and not any additional. I think we forgot how serious Cronimet are in the development of this mi. They don't want to be the owner. They want the tungsten as there is a short supply. One major advantage we have over other tungsten players in Aust, is our tungsten will have been trialed and used by end users well before others get a ton out of the ground.
The tungsten market isn't as openly traded as other commodities and it's important the user knows the source of the tungsten.
EQR Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held
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