Delays have occurred and EQR production last quarter missed prior company comments by a long shot.
However cash on hand is not an issue for now. -At the end of last quarter they had $2.7m -On the 4th of Jan they received the first $5m from the recent royalty deal with regal resources. -They are due to receive the second(final) tranche of $5m from the royalty deal on environmental sign off for the open cut this quarter. -Next quarter they are due to receive the next tranche of the CMAI 6million dollar grant. Previous allotment was $1.8m (30% with 70% to go)
Of note is the potential for a second $10m royalty deal. If you are interested in EQR I advise having a look and running the numbers on the original royalty deal. It shows a lot of confidence in the project.
EQR Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
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