Great news re the finalisation of the Spain acquisition. Looking...

Great news re the finalisation of the Spain acquisition. Looking forward to the JORC compliant resource information and any production information included in the quarterly.

In response to Robs comment:

On the 10th of august in the announcement “EQR ACQUIRES LEADING EUROPEAN TUNGSTEN PRODUCER, SALORO S.L.U., AND SECURES $25 MILLION INVESTMENT BY OAKTREE “ it was stated

“Current production is approximately 140 tons/month of high-grade (>65% WO3) tungsten concentrate, with various minor plant expansion projects ongoing for higher recovery and throughput. “

On the 19th of September it was announced in the announcement “XRT ORE SORTER TRIALS AT BARRUECOPARDO MINE HITTING TARGETS”

“The mine is currently producing between 140-160 tonnes per month of high-grade tungsten concentrates (+65% WO3)”

In the September Quarterly on the 31 Oct 2023 it was said “Having restarted the mine in 2019 following a 40-year hiatus, its monthly production is now around 140 tonnes of high-grade tungsten concentrate.”

In this announcement on 18th Jan 2024 “EQR COMPLETES ACQUISITION OF SALORO S.L.U. AND $25 MILLION PLACEMENT WITH OAKTREE” it states “8,350MTU/month in Q3 2023”

140*.65%= 91 tonnes a month

128.5*.65%=83.5 tonnes a month

It is off a bit and given q2s average it does look like production rates were slightly overstated. However I would expect there has been an increased amount of downtime due to installation of the XRT sorter and its trials and other process plant optimization changes and trials. The production numbers are not there for oct 2023 or Nov 2023 for whatever reason but we can see that the recovery rate jumped ~2% in each month or an increase of ~4% which if all things being equal brings us to 133.5 tonnes of concentrate in Oct and 139 tonnes in Nov.

EQR has lots of news coming up.

Firstly the quarterly in the next two weeks which hopefully shows some more detailed Saloro numbers. Hopefully the wet weather and cyclone Jasper didn't have too much impact at Mt Carbine but I am expecting it did.

We should get news regarding Cronimet joining the register and the dissolving of the JV. Another big event for EQR shareholders and hopefully makes analysis a lot easier going forward.

The second XRT sorter at Saloro should be online in Jan. I believe we are still awaiting news on the first XRT ore sorter coming back online at Mt Carbine after being refurbished.

The JORC 2012 compliant resource for Barruecopardo should also be out in Q1 2024.

And the big news will be the commissioning of the new crushing circuit at Mt Carbine due in quarter 1 2024.

I am also hoping we get some news from left field regarding European critical metals funding support.

Anyone wishing to see EQRs new mine acquisition:

https://www.youtube.com/watch?v=yNIkALZ0PWE


Congratulations to all share holders!