This is a post from EQR LinkedIn page today. Looks like Morgans...

This is a post from EQR LinkedIn page today.

Looks like Morgans has been encouraged by the drilling results and are now getting behind the project. Giddy up.

What a great way to end the week! Word from our European contacts is that the APT price posted on Fastmarkets is nicely above $US300/MTU. Market gossip is that Russian supply is being disrupted by export levies on many metal exports.
Meanwhile Team EQR is grateful for the comments from Morgans Financial Limited in a note on our recent exciting drill results. The note reads:

Our view and interpretation:

The current drill results continue to confirm that the resource continues consistently to depth, with strong indications that the grade is strengthening to depth. In our view this will enhance the potential to re-open Mt Carbine as an open pit operation. Our assessment is that Iron Duke is not required to support re-opening the mine, but if it’s where it appears to be from limited drilling, it could add substantially to production as the pit is deepened and battered back.
More particularly, given the demonstrated effectiveness of the XRT ore sorter in upgrading plant feed, annual production should be significantly above previous modelling which anticipated production of 250,000 metric tonne units (mtu) per year. One mtu is 10kg of WO3, the common unit used in the industry.
Recall that EQR has a 50/50 JV with German specialty metals trader CRONIMET to process the tailings and the low grade stockpile from previous operations, but the hard rock operation is 100% EQR.
EQR offers good exposure to Tungsten with potential for a resource upgrade and more efficient processing. Access and logistics, power, water, and a potential workforce are available.
Tungsten is now considered one of the “strategic” minerals.