Ann: EQR Begins Grade Control Drilling Ahead of Open Pit Restart, page-6

yes it’s G6M not EQR. I do not believe there was any upfront payments from g6ms offtake partners. There was never any mention of funds raised via offtake agreements. They also state their agreements payout at “G6M will receive the APT price multiplied by an average payabilty factor of approximately 76%” for contained tungsten in the concentrate. My understanding is they produce two concentrates one at the high 60% ( majority) and the other at mid 40% which they then blend to produce an average concentrate at around 63%.

it’s not G6M selling on market instead for more as they are taking a massive $83m hit to there revenue in the first 4 years.

The reduction in the contract was only for 1 of the two and it wasn’t huge. If memory serves me right it was from 90k mtus contained to 82.5k mtus contained per year for the first 4 years.

Their mine plan change did result in the first phase producing a lot less than the average LOM yearly output that had been used previously so perhaps that impacts. But I don’t see how given the current stated offtake contracts size.