Hey Coinflipper,I posted the below in another thread a few weeks...

Hey Coinflipper,

I posted the below in another thread a few weeks back.

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The MTU concentrate price EQR receives(The JV as a whole) is around $16.7k AUD per tonne based on previously announced data from EQR (Ann 16th Sept 22 - page 3). Currently it's probably closer to 180 AUD per MTU of concentrate. But a slightly conservative figure would be $160AUD of revenue for every MTU of concentrate sold.

Matters get a bit more complicated as for every MTU of tungsten in the ground you need to take into account the losses along the process flow.

If we assume:

-it all gets x-ray sorted and we keep 90% of the tungsten post sorting, we lose 10% due to sorting

-Plant extracts 80% so we lose another 20%

-and then convert it to 50% concentrate

You can take 100,000 MTUs of pure tungsten in the ground and apply the above.

100,000 x .9 x.8=72,000 MTUs of pure tungsten kept

72,000/.5=144,000 MTUs of 50% concentrate.

So a reasonable guess would be for every 100,000 of MTU added in the next pit upgrade it is likely to generate additional revenue of: 144,000MTUs concentrate*$160=$23m AUD.

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Applying the above to the 2.1m MTUs gets as

21X$23m=$483m AUD of increase revenue off the back of this mineral increase. All of this belongs to EQR 100% (not the JV) so depending on how much of this 2.1m MTU increase is included in the new Pit area in next BFS we may see NPV/IRR attributable to EQR increase substantially! (NPV attributable to EQR after the last BFS update on Nov 9th was $172m AUD)

Also it stated:
"Tungsten concentrate production C1 Cash Cost**** remains amongst lowest in industry with an equivalent of US$118/mtu"