Ann: EQR Signs 5 Long-term Offtake Agreements for next 24 Months, page-12

Pblonde, Tungsten concentrate is paid as a percentage of the APT price.

From the MT Carbine BFS

470 containers

20tonnes per container

9400 tonnes of concentrate

Or 940,000 MTU of concentrate

50% WO3 concentrate

1 MTU of concentrate price is based on a percentage of the APT price.

If we take the $350 USD per MTU price from the graph

350/2=175 (50% wo3)

The payable percentage I think is around 70% (perhaps just over.)

So 175*.7=$122.5 USD per MTU of concentrate sold.

Working that back to the $124m figure

940,000*122.5=$115.15m so in the ball park but a bit off.

If we go the other way.

$124m / 940,000 MTU =$131.9/MTU

131.9/175=.753
So the numbers in the Announcement based on a $350USD APT price come in at a payable rate of 75.3%

Great announcement. Would be good to know the upfront payment amounts. I guess we will have to wait until the next quarterly to see the numbers moving in and out.

This definitely shows the trust in EQRs production expectations from their clients. $195m AUD in revenue from these 5 offtake agreements. There is also the previous Elmet deal that was AUD $30m over 5 years. Plus as this announcement states "As well as product required to support the operations of the proposed acquisition of the ferrotungsten smelter"

GLTA.