EQR eq resources limited
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WOW 64% increase in Indicated resource.The overall tonnage in...

  1. scottm
    2,450 Posts.
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    04/04/23
    10:23
    Post #: 67122109
    WOW 64% increase in Indicated resource.


    The overall tonnage in the ground (ex LGS) has increased from 6.578m mtu to 8.623m mtu. Increase of 2.045m mtu.

    We know the BFS (our share is $173m) is based on only 1.155m mtu. On the old resource that equated 1.165/6.578 = 17.5% of the resource (ex LGS). This upgrade in resource changes that to 1.155/8.623 = 13.4% of the resource (ex LGS).

    In short, the value of the project is probably 6 to 7.5 times greater than the current BFS (allowing for some discounted cashflow). That means a value of $1bn+ , with more resource coming as the drilling rig is back on site.

    There is plenty of upside in this one.

    Giddy up!



    EQR Price at posting: 6.5¢ Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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