1. New equipment coming together. This week produced 1200t of ore sorter material. Last quarter 7500t. 2. New quarry contract for 10,000t of material ($250k and $500k) 3. Upgrade resource from recent drilling is mainly from lowering the grade from 0.15% to 0.05%. In the BFS this was considered waste but now will have a value, especially when using ore sorters (not all projects can use ore sorters). 4. Resource upgrade will convert into more $$ for BFS. Just a case of which option is more economic. Open Cut or Underground. 5. Confirmed BFS value of $131m only includes 900k mtu from Open cut & 900k mtu from LGS. The indicated resource increase to 4.196m mtu means plenty of increase value. 6. Plenty of more targets with deposit open East West and at depth. Plus other drilling opportunities, based on old workings, samples and geo-testing. The words used were. "This deposit is multi-generational". Not multi-decades, Multi-generational. The current BFS covers $400m of tungsten. The current 7.4m mtu resource cover about $1.5bn-$2bn. There is likely to be multiple times in the EQR leases. This is before they look outside to the other tungsten areas they have highlighted in previous presentations. 7. Kevin mentioned again the de-risking - fully funded, equipment working, cashflow from quarry and increasing deposit in stages (using profits without diluting share holders). 8. Cronimet sell all that can be provided with China and Russia tensions providing more Western interest (supply chain), keeping the price high. 9. The potential for fast charging battery from Nyobolt (niobium and tungsten) only provides upside.
EQR Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
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