So, they are going to sell down their stake and force the price down. While both mines are punching out 500t plus per month or about $10m+ cashflow.
I'm sure other investors or insto would lap up the stock (need to remember there are very few insto investors in this stock and virtually zero coverage from the broader broking community).
And then Oaktree are going to takeover the whole company (BTW, there are blocks of more than 10% that would block a takeover).
OR
Maybe Oaktree were having issues with Saloro after investing heavily in the project but needed technical assistance. (There had been rumours it was for sale).
But after assessing different players, instead of taking a loss on their original investment and walking away, they have joined with EQR to create a global tungsten player which they can participate in and continue to grow.
I don't think this is the final chapter.
JUST HEARD - PACPARTNERS HAVE INCREASED THEIR TARGET PRICE TO 15C
EQR Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
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