The comparison between the two couldn't be more stark! (pun intended) based on today's announcements.
EQR signs an offtake agreement for $30m over 5 years with $2m upfront and an options agreement with a wholly owned US tungsten player who provides tungsten to the US Defense industry (plus aerospace, medical and semi-conductors). They want to secure Western supply with the fastest growing producer. The options agreement has been set at more than 120% of the current price within 2 years.
G6M had debt maturing end of month and updated the market by saying they borrowed another bridging loan of $4m at 12% from existing lenders and moved the debt maturity a couple more months to November. A cost reduction exercise in removing to big trucks and an excavator. The recoveries are the problem and always has been.
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