It's worthwhile noting that your revenue from operations number is not revenue, but in fact cash receipts from customers. There will continue to be a lag between costs incurred to produce concentrate and revenues although at this stage, cash is king (and thankfully we have enough tucked away). G6M having not produced (and as a result I assume sold just yet) a substantial amount means next quarter they'll likely have a receipts amount but given the quantity it still won't be close to EQR's. EQR should have a substantially higher number there as well given production has increased and we're now into the 100% EQR open pit as of the end of June. A brief note in the financial performance section of the cashflow results announcement said that the increase in cash receipts this quarter is, "mainly due to 50% share of increase Tungsten concentrate sales from theunincorporated joint-venture in this quarter". With grade increase and that revenue being all EQR's, we should see a sizeable jump in cash receipts from customers next quarter.
EQR Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
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