I believe the dry processing only allows them to work at 60% to 70% of normal. So, the water issue has been resolved. The running costs of EQR is much lower than G6M in all facets. Production, staff and admin. And the other notable difference is EQR Mt Carbine has $2m of debt compared to G6M of $69m.
While Saloro has debt, the EU is very keen to make sure they have active mines and are providing favourable terms when it gets refinanced. The other point is Saloro produes 65% concentrate as opposed to 50% and 55% for Mt Carbine and G6M. That means they are getting a higher price.
In short, we need to have a clean quarter and improvements in the ORE sorters to show the potential of these assets.
EQR Price at posting:
5.6¢ Sentiment: Buy Disclosure: Held
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