Welcome back TPCS. Looks like you haven't posted for a while...

Welcome back TPCS. Looks like you haven't posted for a while .Last time your statements were incorrect regarding the directors.

Given you have been away for the last 6 months, I thought I would see what you have missed, given you're attacking the management and directors again.

And yes, since your last post in March 22, the share price has fallen as has the market, however the directors and management aren't in control of that.

March 2022 - 2nd ore sorter ordered and installed (later) allowing for production to be increased.
April 2022 - underground scoping study completed. 2.3mt at 1.05% not included in BFS.
April 2022 - awarded Commonwealth Govt grant $6m (only 5 companies awarded grant). Application process took 2 months. Opportunity savings - If debt funded $400k per year in interest or raising capital it would be 150m in additional shares.
May 2022 - finished the rest of $20m capital raising via INTEREST FREE offtake facility and $1.5m directors loan.
May 2022 - drilling program to expand deposit to the West. High grade results and open at depth and length.
June 2022 - finished early works program - crushing system, wet-screen circuit (assist in the wet season).
July 2022 - engaged Qld mining contractor Golding to provide early work for hard rock mining for 2023.
August 2022 - drilling results have increase tungsten resource.
Sept 2022 - production increases with new equipment to 60t for month. Previously doing 20t to 30t per month.
Sept 2022 - After change of Govt at Federal election. New government reviewed $6m govt grant. Management had to re-engage with Govt and the grant was awarded again!!
Sept 2022 - Further analysis has reduced the strip ratio from 11-1 to 3-1. Increasing the resource in the main pit and increasing the indicated resources and thereby increasing the confidence in the deposit.
Over 2022 - Staff increased to 60 full time local workers. Extensive training program has been introduced to upskill locals.
Oct 2022 - Qld Govt are singing the praises of EQR.
Oct 2022 - Announced a $10m royalty deal after an extensive due diligence program by management and Regal. Importance of this deal. Regal don't make any móney until $330m of revenue is produced. This means we are heavily in production and not just another "gonna enterprise" Up to that point they are getting their capital back. The business hasn't borrowed the money which has interest rate risk and no fixed or minimum payments. If the tungsten price falls, so does Regal's payment. They haven't raised capital in environment where heavy discounts are required and not diluting shareholders.

This money is being used to fill the gap in the delay in the Commonwealth money and pay for the shallow drilling of the West Dyke to determine a) how much more resource and b) whether they underground or have another open pit.

Expecting 2nd BFS before end of October which should lift NPV to $200m (ish).

West Dyke drilling will allow 3rd BFS to be increased in early 2023.

This is what management and directors have been doing over the last six month.