Nice upgrade to the resource. The moved from inferred to indicated gives more confidence in the deposit. Our ability to have high recoveries, the stockpile at 0.075% and the use of the ore sorters is showing that low grades can be profitable. At 12mt indicated that's more than King Island and Sandong.
The other part I liked was the potential for more, remembering this is only a small portion of the overall deposits. The release says there are 50 historic tungsten workings on our tenements (more to be found).
This information should be followed soon by an upgrade in the NPV of the project. Looking forward to that number, should be $200m+
EQR Price at posting:
4.8¢ Sentiment: Buy Disclosure: Held
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