Thanks for the info scottm, really does highlight the huge difficulties mines face to get to the profitable stage of production.
With EQR now focused on refining the production process to increase output / reduce operating costs, it demonstrates what a journey EQR has been on to get to this stage. For the newer / potential Shareholders the progress EQR has made over the last few years has been extraordinary, and to see the issues facing other Companies wishing to get into production really brings home the problems that need to be overcome (including financial).
For me, the turning point that really set EQR on the road to success was the acquisition of the Quarry, and with it the necessary permits that went with the acquisition that allowed EQR to be in full control of its operation. In other words, EQR could plan for the future with complete control over the ownership of the mine (ie, no longer leasing it).
The new dual-mine set-up (both in production, both able to achieve higher output / lower production costs into the future) really does set EQR apart from its peers. The future prospects for the Company are just stunning...
EQR Price at posting:
8.0¢ Sentiment: Hold Disclosure: Held
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