Ok Now I see why there is such a urgency to getting wolfram camp up and running and buying another mine in Europe.
From the annual report 2024 operations at MC and Saloro. That they had to spent $2 to produce $1 in revenue. With production forecast to double this year, if they can keep a lid on costs they should get to brake even and profit in 2026. But then the wheels fall off and MC is forecast in 2027 to go back to 2024 production levels and only a couple of years before Saloro productions tails off to zero.
With total liabilities blowing past $100 million, $25 million more debt already forecast and any profit going to fund expansion to maintain production current production levels .
How much more capital are the going to need to raise and when does anyone think they will be in a position to start to pay down the debt?
EQR Price at posting:
5.7¢ Sentiment: Sell Disclosure: Not Held
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