It means a raft of other non Chinese Tungsten players are struggling to get started or struggling with recoveries.
A list of current players 1. Almonty - one Portuguese mine and the promise of South Korean Sandong, but seeing delays and plenty of debt. 2. G6M - in trading halt and struggling with recoveries, even though they have a high grade deposit. Moelis is shopping them around. 3. Tungsten W - struggling for the 3rd of 4th time. Not in production.
The only other player with good production is Masan.
Masan happens to be in a strategic relationship with EQR and is the reason why signed the deal with Elmet.
The Western are looking for secure supplies. Unfortunately there are only a few options.
Masan, EQR Almonty & Mittersill (Austria)
Kevin is saying it loud and clear to any who wants to look between the lines. "we are actively pursuing co-operation and funding opportunities (govt grants and attractive finance) not only domestically but also through US and EU agencies. EQR's positioning with two operating mines in the Western world is perceived as a unique value proposition that gains interest from policymakers".
EQR Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held
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(20min delay)