I'd be interested in understanding this as well. There's 2 ways this could be happening: 1) all production related to satisfy offtakes is without payment to EQR (prepaid in advance and then deliveries against quantities per offtake agreement) 2) a proportion of production related to satisfy offtakes is without payment to EQR but the remaining proportion EQR receives payment on (ie 20% delivered without cash payment, 80% delivered in each shipment with cash payment) If it's under 1, we get the full cost of production with no offsetting cash receipts from customers in the cashflow. Arguably showing that current production is much more strongly cashflow positive as we have production costs incorporated but no receipts to offset. If it's under 2, which I suspect it is, we get the full cost of production with some offsetting cash receipts from customers in the cashflow.
EQR Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
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