The weakness would be the current share price.
As you say the fundamentals are still there.
I will point out:
On the 28th of September 2023 Investors converted their $6million dollars of convertible notes from 2021 into EQR shares at 6.5c
On the 6th of November 2023 Directors converted $300,000 of 6c options 3months early
On the 18th of October 2023 Cronimet signed on for ~$11million worth of shares at 9c
On the 10th of August 2023 Oaktree signed up for $25million worth of shares at 9c
On the 21st of October 2022 sold a 3% royalty to Regal resources Royalties Fund for $10million
Given that EQ Resources is closer than ever to profitability, although nothing is a given, the above points show there is a lot of money and no doubt smarter minds than mine that are expecting great things from EQR and have put a lot on the line.
GLTA
Ann: 2023 AGM CEO Presentation, page-61
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