KIS has the headlines, a promise of a $10m loan from TAS Govt, a higher grade deposit & more active social media shareholders.
But they don't have any production, little infrastructure, no income from waste (quarry) and little room for expansion and maybe issues with keeping Bass Strait out of the deposit. With a NPV of $241m, KIS are priced for perfection.
Yes, KIS will need more capex and have a lower IRR than EQR.
EQR is currently producing tungsten which is being tested by end users (not all tungsten is the same, therefore end users need to know it works for them).
I think the Iron Duke will be a game changer as it has never been part of the valuation calculation.
EQR Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
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