The price is in USD and it converts into AUD. It depends on the grade of tungsten.
In simple terms, a 50% grade is receiving about $A17k to $18k. The increase in tungsten price has probably increased it to $18k to-$19k.
The problem in trying to read the quarterly is understanding what's in the JV and what is 100% EQR. This is part of the reason why the JV is finishing and Cronimet are converting into shares.
How much of the production is JV and how much is 100% ours. How much of the cost is JV and how much is 100% ours. In the last quarterly, a reasonable amount of the production was JV, but lots of the cost was 100% ours as 750,000t was removed from the pit.
If you are reading the quarterly and saying you know what's happening and that's as good as it gets then you are making the wrong assumptions.
For those looking to a brighter future.
They are increasing the crushing capacity, they are increasing the ore sorters, they have implemented a scalper for the LGS, they are opening the underground and increasing the resource.
They are doing the same in Spain.
At the same time, the tungsten price is increasing.
Investing has risk. Sometimes you don't know all the information.
At the end of the day, mining companies only really know when it's actually mined.
EQR Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
