Glad to have you on the boards here, hopefully through your DD...

Glad to have you on the boards here, hopefully through your DD you start seeing what a lot of us here are quite confident about. Regarding your comment on the $6m not moving the needle at all, this is a relatively unknown company and management haven't been doing a lot of spruiking. Lots of long term holders that for the most part have a strong belief in the project but not a lot of new blood coming in. Hopefully with the grant funding news, Morgans who assisted with cap raise will be off telling their clients about this raging buy.

Regarding your other comments, I was a little bit disappointed by the shortfall in revenue receipts this quarter too, I was hoping it'd be slightly higher but I guess the wet season held things back. We should expect higher revenue receipts from quarry contracts as we move out of the wet season but also especially so from Tungsten considering ramped up production with recent developments.

I can't find much detail on specifics of the $6m funding. My guess is they won't be able to use it on just anything Opex related but likely development and exploration, and anything falling under the works included in the BFS (including staff costs related to this). If we look at the quarterly cashflow, I would expect all exploration, development and a portion of production and staff costs to be covered by the $6m next quarter. I'm hopeful that the revenue receipts will then cover the remainder at least, if not slightly higher. Staff costs are also likely to further reduce as over the last 2 quarters, there's been significant time spent in training staff with new machinery etc.

I definitely thought this would be the quarter we are cashflow positive/neutral but looks like it might only be next quarter. As it relates to further funding, there's also the possibility that they sign some offtake agreements for Tungsten that needs to get pulled out of the ground. Any Tungsten mined and not taken from the stockpiles is 100% EQR and not split 50/50 with Cronimet which is important to remember.