Ann: EQR acquires Tungsten Producer and Secures $25M Funding, page-53

Hopefully they provide more detail in their presentation…

I certainly hope so binbin. The approximate EUR$35m is current outstanding debt. If that is in fact correct what is the other EUR$45m debt attributed to and what are the repayment terms, if any?

I'm a little perplex as to the lack of critical information that has not been supplied so that shareholders can make an informed decision as to whether or not this acquisition is a potential asset or a liability.

7.26m MTU @ 0.26 as I understand reported in Feb 2012 from the 2004 JORC estimate. Production and internal reporting has demonstrated a lower grade occurring to that of the 2012 report. A revision of the resource by an ICP is currently being undertaken that follows the 2012 JORC code using all additional data since mining commenced to be completed at the end of the 4th qrt if I'm not mistaken.

The combined mine operations should catapult EQR into the position of largest producer of Tungsten in the western world. Barreucopardo current monthly production of 140 tons/month >65% WO3 Tungsten concentrate, at what cost? Where are the financials?

As I have previously stated, in my genuine opinion, management are solid here and they have the runs on the board to prove it. They would have accumulated a considerable amount of data on operation during their DD I'm a bit dismayed at the cost of the buy in and the implication that it may have on our balance sheet however I also can't see this management risking the outstanding work to date at Mt Carbine and its potential via a questionable potentially debilitating acquisition.


good luck all, some have been here 15yrs+ I hope your pay day is grand.