saloro continues to deliver. Kevin said he could improve the recoveries from 40% to currently 60%+ & he is aiming 70%. SALORO is now the biggest mine in Europe with more upside to come from a 3rd ore sorter. If we see tungsten prices increase (latest Chinese price I've seen is $345-$350) then there will be positive cashflow from this mine.
EQR is still trading below $100m which was below the level we were before Saloro was acquired, the lease awarded for WOLFRAM CAMP& the downstream processing of ferrotungsten opportunity.
Meanwhile the market has pushed ALMONTY TO $600m based on future production of Sangdong. How ever the reality is the only production is from their Portuguese mine at about $8m a quarter (less than saloro) , they have $140m of debt and there seems to be uncertainty regarding the starting of SANDONG.
Additionally TGN has no production, no plant, no timeline for cashflow, but the market has market cap of $80m.
Based on these two examples, I think there is plenty of upside value in EQR if we can get MT CARBINE back on the better grade material and the tungsten price to rise.
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