If my calculations are correct, the NPV should increase from $130m to between $200m & $240m and they haven't included any more area, just lowered the cutoff. So this should still be based on about 15% of the mine. If thats the case 100% would be a NPV of over $1.5B. From my understanding, they have only drilled out 3 of around 50 targets on the lease.
I'm still struggling to see what is holding this back. Our Market cap currently still stands at around $62m and already mining about $1.1m a month (JV 50/50) + what ever they are making from the quarry, which I would assume is going well. Hard rock is about to start which will significantly increase the money coming in and 100% EQR (no JV on Hard rock).
Volume is the most important thing right now, as the buy side is still thin which allows any person to sell around 500,000 shares and drop the price by 10% like yesterday.
EQR Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
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