Ann: EQR Progressing on Saloro Acquisition & Placement Update, page-28

Will reply before Rob starts mouthing off. I can think of a couple of relevant comments.

Unfortunately when it comes to mines it doesn't matter how much was spent, if it can't run at a profit it is worthless.

However, in the mines in question (Aus and Spain) they were both heavily impacted by a W price of around 200$ per metric ton. in the period 2018 to 2021. The price today in usd is around 300, a 50% increase. Most on this forum believe the price will increase further due to geopolitical reasons and new demand( batteries )

The recovery rates (translates to efficiency ) is far greater than previous due to the capital spend on more suitable equipment.

So revenue per unit up, costs per unit down can only mean better financial performance, so yes a good deal was done.